MINING NEWS.

Evening Star, Issue 11700, 4 October 1902, Page 6

MINING NEWS.

The Takaka Sluicing Company washed up 17oz 13dwt for one week.

The Leviathan dredge-master wires: "Everything going well." The Three-mile Greenstone for two days this week, was working in old ground. . Cromwell: 3440z ldwt, 120 hours. Junction Electric: 40oz sdwt, week. Davis's Bend: 350z, week. Waimumu: 27oz.4dwt, 112 hour« Globe: 220z lOdwt, 230 hours. Charlton Creek: 20oz lOdwt, 125 hours Charlton Valley: 16oz 3dwt, 127 hours. Wahnumu*Central: 16oz, 99 hours . Ettrickr lOoz lOdwt, 117 hours. Molyneux Kohinoor: lOoz sdwt 175 hours. ' Golden River: Boa 4dwt, 63 hours. Inch Valley: 7oz, 130 hours. ' New Nevis: 4oz 16dwt, week. Spec Gully: 12o« 4dwt, 134-hours. New Golden Gravel: 18oz 3dwt, 5 days. Prince Arthur: 68oz, 120 hours. Alpine No: 2: 1270z 18dwfc 3gr, 117 hours. •■ ••■-'•.' ...'.• ■■'■

Tuapeka: 14oz lOdwt, week. Aldinga: 21o*' I2dwt, 132" hours. Gabriel: 12oz sdwt, week. "* Grand Junction: 740z, 9 days. Olrig: 16oz 17dwt, 110 hours. Rise and Shine: 51oz Bdwt, 114 hours. Endeavor: 290z lOdwt, week and three days. The Pactolus No. 1 expect to start on Monday. Rise and Shine report that prospects continue about the same, while the machinery is running woll. The New Royal Maori are repairing, and will wash up on Monday. The Grand Junction report:'"Prospects fair, wash payable, and dredge stopped fixing pump. The Mystery Flat dredge-master reports: —"Tooth out of main pinion drive on second motion shaft; dredge working, and down at boundary." The Gabriel blacksmith shop caught fire yesterday, and was burned down. The majority of the tools were on the dredge. The First Chance will start dredging "n Monday if the river is steady, though a rise, is anticipated, as the weather is wanner. The boiler has been cleaned.

The Cromwell report prospects still very good.

The Davis Bend report the wash not so good as formerly. The dredge will probably be shifted lower down the claim next week.

The New Nevis dredge has temporarily stopped, pending the arrival of a new low plate valve.

The elevator spur wheel of the Gold King broke yesterday morning. An old wheel is being fitted on. The New Britannia dredge has been shut down lately, pending the erection of en elevator, for the purchase of which the directors have completed negotiations. At 1 a meeting of the Horowai Gold Dredging Company (in liquidation) heid last night, the liquidators' report was received and adopted, and the company's books and papers were ordered to be destroyed after a period of three months. A first and final dividend of 4d per share is received back by holders of contributing shares, which were paid up to 4s. The Golden Run dredge is at present undergoing an overhaul, and having a new bottom tumbler put in. The Gold Deposit dTedge is working steadily, but is unable to bottom where she is at present operating. A good return is reported to have been obtained from the Main Lead Hercules dredge last week—viz., 440z. We trust that Mr Sparrow, who, as mortgagee, had to take this property over, may receive many more such returns. It beaxs out what we have stated on a number of occasions—that this dredge was unable to work the claim without an elevator.—' Mount Benger Mail.'

Dredge-master's report for week ended 27th ult.:—

The Garibaldi were proceeding with repairs to the elevator. The rest of the dredge has had a thorough overhaul. The wash was on the improve, and the dredgemaster has great hopes of the claim when they get a few chains further.

WEST COAST RETURNS. Great Woodstock: 12oz, 113 hours. Pactolus (Midas): 260z, 100 hours. North Beach : 40oz 6dwt, 96 hours Kohinoor: 370z 17dwt, 125 hours. Greenstone Creek: 350z ldwfc, 150 hours. Reeves's Proprietary: 12oz 6dwt. 90 hours. ■ Mokoia: 370z 13dwt, 136 hours. Leviathan : 19oz 2dwt, fortnight. Three-mile Greenstone: 220z 13dwt, HO hours. THE SHARE MARKET. DTmXDOT EXCHANGE. This morning's sales:—Alexandra Lead, 16/, 16/, 16/, 16/, 16/. 16/; Bendigo, 11/3; Wectrij. 31/, 31/; New Halfwav House, 2/6; Mosquito, 3.5/6; New Roxburgh Jumlee (contributing), 7/6 p. ; Sailor's Bend, 19/. Quotations: Aldinga—Sel 15/. Alexandra Lead—Buy 16/, sel 16/3 Alpine Extended—Buy 2/, sel 3/3. New Alpine Consols—Biy 14/6, sel 17%. Alpine No. 2—Buy 21/3, sel 23/9. Bend igc—Buy 11/, sel 11/6. Commissioner's Flai>-Bny 6d, sel 1/9 Cromwell—Buv 62/6, sel 70/. Davis Bend—Buy 3/6 dis, sel 3/ dis. Electric—Sel 31/6. Endeavor—Buy 4/. ; First Chance—Buy 12/3, sel 15/. Fourteen-mile Beach—Buy 1/3, sel 2;'. ' Gentle Annie—Sel 5/. Gibbsto,n —Buy 1/, sel 2/. Golden Beach—Buy 1/, sel 2/. Golden Bed—Buy 7/6, sel 8/3. | Golden River—Buy 1/3, sel 1/9. Grand Junction—Buy 15/6, sel 16/6 Great Beach—Sel 4/. New Halfway House—Buy 2/6, sel 2/9. Hartley and Riley—Buy 29/6, Bel 33/6. Hokitika River—Buv 2/. sel 4'. Inch Valley—Buy Af, sel 7/. Kohinoor (ordinarv)—Buy 6/6 sel 9' ! Manuherikia—Sel 21/. '" Mokoia—Sel 9/. ' Mosquito—Buy 16/, sel 18/. No Town Creek—Sel 28/6. Old Dimstan—Buy 2/, sel 3/. Perseverance—Buy 30/, sel 38/. Prince Arthur—Buy 15/9, sel 17/ . Riley's Beach—Buy 20/, sel 26/. New Roxburgh Jubilee—Paids, buv 25/ sel 26/; Contributing, buy 6/6, sel 7/6. " New Royal Maori—Buv par. Sailor's B^nd—Sel 19/6. Taapeka—Buy 5/. Unity—Bnv 10/, sel 11/. Victory—Sel 12/6. Waimmnu—Sel 16/. STOCK EXCHANGE NOTES. The river is etfll at the 3ft 6m mark at Alexandra, and the weather warm. A decided change for the better in the amount of business recorded took place at this morning's call. Alexandra Leads were well dealt in at 16/, and showed no signs of weakening; but Alpine No. 2, Consols, and Bendigos were all a shade easier. Cromwells still show a wide market, sellers receding as buyers advance. Electrics, however, were dealt in at 31/, leaving the table bare. First Chances were not in such demand as yesterday afternoon, when they had quittance at 13/, but Golden Beds were strongly asked for.' Grand Junctions were considerably easier, but Hartley and Rileys made a wonderful recovery on late rates, being strongly asked for up to 29/6. New Halfway House stock changed hands at 2/6, and Mosquito at 15/6, 16/ being offered in vain at the finsih for the latter stock. Prince Arthurs eased back a good deal, and Riley's Beaches were in less demand. Holders of New Roxburgh Jubilees show more tendency to meet buyers, and contributing changed hands at 7/6 premium. Sailor's Bends had quittance at 19/: Investment stock quotations:—Westport Coal, buy 104/, sel 109/; New Zealand and River Plate (old issue), buy 22/6; do (new issue), buy 23/, sel 24/6; Milburn Lime (20/ paid), buy 20/, sel 27/; Wellington Wool, buy 105/; M'Leod's Soap, buy £l4 12s 6d sel £l4 17s 6d. ' , ' j THE- HOKTITKA RIVER. j HOKITIKA. October 4. Ministers have not as yet given any reply with regard to the proclamation of the Hokitika. River, although the ActingPremier promised the deputation whkh went specially to Wellington that an' answer would be given before the end of August. A good deal of dissatisfaction was expressed at the delay in dealing with this important matter. THE BULLER JUNCTION COMPANY. [Special to ths Star.] «/,,, • WESTPORT, October 3. The foflowing circular has been issued to shareholders of the Buller Junction Dredging Company: "The right of purchase, which this company has held registration, for £SOO over 105 acres of M*Kay's freehold, on the northern bank of the claim, expires on the 15th October, and the directors have decided to complete the purchase. As you are already aware, the freehold ground on fhe south side has been purchased and paid fed .and with the acquisition of the freehold on the northern. side your company possesses"^**-whole of thefr«*bJki ofthfri

adjoining claim. Owmg to small returns recently and heavy outlay in equipping and opening the coal mine, which has cost abont £SOO, the company are now in debt to the extent of upwards of £4OO. As ja remit, your directors were compelled, before closing for the freehold, to coll up the remaining 9d per share, making the shares now fully paid up. .A contract has been entered into for u period of three years for the supply of coal on board-the dredge, at a cost to tho company of 10s.per ton. The contractor has the right ■to supply other dredges-,or persons with coal at* his discretion on payment to us of 6s per ton. As the supply of fuel has always been very costly, as well as a, serious drawback in time of flood, your directors consider the money spent in opening the coal mine has been fully warranted' and in. the best interest of the company. *The dredge is now opening out into the tail.end*of the large beach, which was proved at the head to be highly payable, and increased and steady returns are from this out expected. The river has been in partial flood for a couplo of days."