MINING NEWS.

Evening Star, Issue 11696, 30 September 1902, Page 6

MINING NEWS.

Waimumu Central:. 260z 15dwt; 134 hours.

Upper Waipori: 250z; 141 hours. Waitahuna: 220z; week. ' New Golden Gravel: IBoz hours.

Evans Flat: 17oz 13dwt; 190 hours. Reliance: 17oz 2dwt llgr; week. Enfield : 16oz 9dwt; 133 hoars. Waikaka United No. 1: 260z Bdwt; 134 hours.

The manager of the Deep Stream Sluicing Company reports a temporary suspension of operations owing to heavy snowstorms. He says that when the weather breaks it will take four or five days to bring the water in, as the head race is full of snow. There are no breaks in the race. The paddock being worked was cleaned up prior to the bad weather.

The Bendigo yesterdav reported prospects improving a little.

The Old Dunstan dredge was being shifted down to the bottom of her claim last week.

There was no wash-up on the Golden River dredge last week, as snow had made the roads impassable for the coal waggons. It was expected that coal would reach the dredge yesterday. The directors of the First Chance Company have decided to have the ladder of the dredge lengthened another 10ft, and this work will be put in hand at the 'end of the dredging season. If the river continues falling dredging will be resumed to-morrow. The dredge-master of the New Alpine Consols wires that the cut is 25ft wide, and he is dredging through Bft of wash. Prospects are fair.

The JTedge-nwstcr of tha Molyneux Kohinoor reports that on resuming dredging en the 24U inst. he found the paddock silted up and the drift bad. He is working just belcw Manuel's tail race (which makes the current ran very strong), with the result that the drift gives some trouble. The ground on the west side continues too deep to bottom, so bo is only working the ground where the dredge can bottom, and if this proves unpayable he intends shifting about ICOyds ahead to shallower ground, where al?o the drift is no so bad.

The statement to the effect that the Olrig would be sbift'ng this week should have read that some shifts would be occupied in repairing.

The dredge-master of the Lower Enfield reports under date 27th inst that tho race was blocked with snow to a depth of 15ft in places, but a thaw was then" setting in. Dfcring the stoppage of dredging the perforated plates in the boxes have been altered, and an improved treatment of the material is anticipated. The usual wash-up takes place on Thursday. Ihe directors oE the Hokitika, Gold Dredging Company have issued a circular calling a meeting to consider the question of moving the dredge to another claim. Between' October, 1901, and July, 1902, the dredge won ! 1,0410z 15dwt 3gr of gold, leaving a net I profit of £1,851 16s Id, 'out of which the company repaid debentures and interest, amounting in all to £1,835. The company at present owe accounts, totalling approximately £650, for whieb provision will have i to be made. The dredge commenced working about midway between the company's lower ■boundary and the bridge, on the Kanieri side, and worked up to the bridge, only getting a ledge running from 12ft to 130 ft wide that was gold-bearing—no bottom being found outside of this. The dredge was then moved down stream on the Woodstock tide, and several places were tried, but no bottom found. The only alternative was to move up above the bridge ; and as this would entail heavy expense in dismantling part of the bridge to allow of the dredge getting through it was decided ( to try if dredgeable ground could be got, s and two bores were put down, but drift shingle only was found. The directors then discontinued work, and laid up the dredge. With a view to saving liquidation, the directors made inquiries to see if some more suitable area could be found, with the result that several offers had been considered, one of which has been selected, and the area reliably prospected, with promising results. Should the shareholders express their approval of the selection, no time will be lost in transporting the dredge, the cost of such transport being advanced to the Hokitika Gold Dredging Company by the holders of the daim, and repayable within ttree years, without interest. rSntcux to xhx Sx*s.) ARROWTOWN. September 30.—-The Indian Glenrock (Wynaad) Company, Macetown, cleaned up for the month of September, the result being 2310z 9dwt from 220 tons of quartz crushed. THE SHARE MARKET. DTTNXDIX EXCHANGE. This morning's sales :—Bendigo, 11/6; Rise and Shine, 24/6, 24/. Quotations:— Alexandra Lead—Buy 14/7£, sel 15/. New Alpine Consols! —Buy 15/, sel 16/3. Alpine No. 2—Buv 19/, sel 21/. Bendigo—Buy 11/4£, sel 11/6. Callaghan's Creek —Buy 3/ p., sel 5/6 p. Clyde—Sel 60/. Commissioner's Flat—Buy 1/, sel 3/., Davis Bend—Buy 3/6 dis, sel 2/3 dis.' Dunstau Lead—Buy 7/6, sel 8/6. Endeavor —Buy 4/, sel 5/6. Enterprise—Buv 27/6. First Chance—Buy 11/3, sel 11/6. Fourteen-mile Beach—Buy 2/, sel 4/. Gentle Annie—Buy 3/. sel 5/. Golden Beach—Buy 2/, sel 2/6. Golden Bed—Sel 8/6. Golden River—Buy 1/6, sel 1/9. New Goiden Gravel (cum. div.)—Sel 26/. Great Central—Buy 2/, sel 5/. Great Woodstock (ordinary)—Buv 1/9, sel 4/9. ' ' Hartley and Riley—Buy 20/, sel 25/. Junction Electric—Sel 9/9. Kohinoor (ordinary)— Buy 7/6, sel 15/. New Leaning Rock—Sel 4/ p. Leviathan —-Sel 5/3. Meg and Annie —Buy 6/. sel T. Mokoia—Buy 6/. sel 10/. Monte Cbristo—Buy 4/,' sel 8/. Mosquito—Sel 19/. Mystery Flat—Buv 20/3. • Old Danstan—Buy 1/3, sel 3,/. Prince Arthur—Sel 15/. Reeves's Proprietary—Buv 7/6. sel 10/ Riley's Beach—Buy 21/, "sel 23/6. New Roxburgh Jubilee—Paids, buv 23/6, sel 26/; contributing—buy 5/ p. Tuapekn—Buy 5/ Unity—Buy 10/, sel 12/. Woodstock—Buy 2/6. Alpine Extended—Buy 1/10£, sel 3/. STOCK EXCHANGE NOTES.' The river remains steady at the 3ffc 6in mark at Alexandra, and the weather is fine. After the storm a calm, and after last week's heavy operations business so far this week has been almost at a standstill. Alexandra Leads show a closer market this morning, sellers evincing more of a tendency to- meet buyers than yesterday morn-

ing. Alpmel^:T ? ing, and Bendigos had quittance at 1176, with more on qffer: • There *ia qniry being made for Kohinoors, and Cromwells are also asked for in small parcels. Dunstan Leads ,are firm, and Enterprise stock is in good demand, while First Chances show a close market. Golden Beaches continue rather weak, and buyers will not-advance: past 20/ for Hartleys. Meg and Annies are dropping back, and Monte Christo stock is also still on the down grade, while Old Dnnstans show no signs of recovery. Good mqniry is regularly made for Mystery Flats, and Riley's Beaches are firming. . Two parcels of ! Rise and Shines changed hands, leaving the table clear, the stock apparently showing signs of easing. New, Roxburgh Jubilees are firmer, inquiry being made for even parcels up to 23/6, while a little business was done in odd lots.

Investment stock quotations:—National Bank of New Zealand, buy 81/, sel 83/6; National Insurance, buv 21/3, sel 22/; Standard Insurance, buv 18/6, sel 19/; New Zealand and River Plate (old issue),' buy &/; do (new issue),,.buy 22/6. sel 24/6; Milburn Lime (20s paid), buy 20/, sel 30/; Mowid.Wool sel 76/; Oamaru Wool, buy ,VV ™°?&f* Rope, sel £l2 ss; do (debentures), buy £lO6. WEST COAST NOTES. " Th September 30. In© Mokoia dredge put in a good time tt fiUr re3nlts - The on which the dredge is now operating is good for from 250z to 30os a week. The Bullct Junction has been prospecting on groind held under option, and has made comparatively poor returns. Much difficulty has been experienced on account of timber in the part of the claim prospected. The aredge nas now drawn out more into the river. '

The Welcome did not do as well as expected last week. Dredging at right is done with more care than fornkorly w order to lessen the risks of breakages. The dredge works well into the bank during the dav and oat more in the stream at night. The Premier .dredge is hard at work again, and likely to give a better return this week. ,

The Rocklands only worked eighty-eight hours. The rest of the week was spent in effecting repairs. I understand the company's liability is something like £BOO. Judging by the improved returns of the past few weeks, I should think the debt will soon be liquidated. The Waimangaroa dredge will be handed oyer on Friday. The claim is considered rich, but difficult to work, and will thoroughly test the machinery of the dredge.