MINING NEWS.

Evening Star, Issue 11895, 25 May 1903, Page 6

MINING NEWS.

The Electric No. 2 expect to resume dredging by about Wednesday. The work of lengthening the Golden River dredge’s ladder was begun on Saturday, and is expected to be completed in two weeks. There was no wash-up last week on the Watterson’s-Ahaura, as the dredge was being shifted. The Riley’s Beach dredge has been kept idle owing to the bushes required being delayed in transit. They are expected to reach the claim to-morrow. There was no wash-up last week on the Golden Bed and the Golden Treasure dredges. The latter -is undergoing repairs. The New Bendigo began dredging today. The New Lyell Company will be registered in Melbourne with 1,300,000 fil shares to take over the assets and liabilities of the amalgamated companies, each receiving 60 ( 0,000 fully-paid shares, while 100,000 will be held by the new company as reserved capital. Lyells accept from the operation £68,000 in cash for distribution to their shareholders. A later message states, re the amalgamation, that the substance of '.he agreement is that, titer paying a dividend of 5s a share to the Mount Lyell shareholders, the two companies shall amalgamate on practically equal terms. The management of the new company will be in Melbourne, under the present Mount Lyell directors. RETURNS. Junction Electric No. 1: 15oz 2dwt. Opening out. Euribeleugh No. 1: 230z; 112 hours. Earascleugh No. 2: 540z 6dwt; 126 hours. Chicago: 240z Bdwt; 128 hours. Unity; 15oz lOdwt; 5 days. Molyneux Hydraulic: l4oz 17dwt; 136 hours. Island Block: 250z 14dwt; week. Golden Gate: 360z 15dwt; 6 days. Golden Run : 21oz 15dwt; week. Majestic: 20oz lldwt. Otago No. 1: 12oz; week. Otago No. 2: 15oz; week. Cairntrodlie: 12oz I4dwt; 128 hours. Ngapara No. 3: 9oz 7dwt; 112 hours. Success ; 31oz 3dwt; 134 hours. Waikaka Syndicate : 270z ; week. Waikaka Queen : 240z 6dwt; 111 hours. Waikaka: 20oz lldwt; 120 hours. Sheddon’s Freehold : 19oz ; week. Empire No. 1: 220z 14dwt. Happy Valley: 240z; week. MacCharlton ; 230z lOdwt; 132 hours. Royal Waimumu : 28oz 9dwt; 126 hours. WEST COAST. Aldinga: 30oz 13dwt; 130 hours. Erickson’s Reward: 18oz 7dwt; 125 hours. Victory: 14oz 4dwt; 95 hours. Greenstone Creek: 18oz; 130 hours. Welcome; 20oz; week. Nelson Creek : 290z ; 132 hours. Maori King: 18oz 17dwt; 95 hours. Mosquito: 250z 3dwt. THE SHARE MARKET. DTJXEDIN EXCHANGE. This morning’s sales:—New Bendigo, 30/. Quotations: Aldinga—Scl 10/. Alexandra Lead—Sel 13/6. New Bendigo—Buy 30/, sel 30/6. Blackwater—Contrib, sel 2/6 dis. Charlton Creek—Sel 9/6. Davis’s Bend—Contr.b, buy 1/3 p, sel 2/3 p. Dunstan I ead—Buy 11/, sel 12/. First Chance—Buy 19/, sel 21/. Fourteen-mile Beach—Pref, buy 20/, sel 22/; ord, buy 1/9. Golden River—Buy 2/lJj, sel 2/4 A. Golden United—Buy 7/6, sel 9/. New Halfway House—Buy 11, sel 12/. Hartley and Riley—Buy 60/, sel 65/. Inch dale—Sel 6/3. Junction Electric—Buy 13/6, sel 14/.' Lady Roxburgh—Contrib, buy 10/ dis, sel 7/ dis. Leviathan—Pref, sel 3/ Majestic—Sel 13/. Manuherikia—Buy 32/. Meg and Annie—Buy 6/. Mokoia—Ord, buy *2l/, sel 22/6; pref, buv 23/. North Beach—S°l 20/6. Pactolns—Sel 44/6. Prince Arthur— Buy 12/6, sel 14/. Riley’s Beach—Sel 21/. Rise and Shine—Sel 28/6. Sailor’s Bend—Buy 30/, sel 31/6. Sandy Point—Buy 6/9 p, sel 8/ p. New Teyiot—Buy sel 22/9. Three-mile Greenstone—Buy 3/. Trafalgar—Sel 1/6. Upper Waioori—Buv 7/6 p. Waimumu Central—Buy 2/9, sel 3/6. STOCK EXCHANGE NOTES. The river is at the 4ft lin mark at Alexandra, the weather bein'"- dull. Only one sale was made at this morning s call, the stock dealt in being New Bendigo, which saw better inquiry, and realised 30/, probably as a consequence of the dredge starting work. Manuherikias were well asked for, but remain tightly Razor’s Bends seem inclined to firm, but First Chances were dull in tone, buyers not going beyond 19/, and Davis’s Bends were rather lifeless also. Rise and Shines have eased, beinu on offer at 28/6 without response. New Halfway Houses were again in strong inquiry, the return last week, without being intrinsically very lanre. being evidently regarded as promising. The low' est holder disclosed to-day asked 12/. Excepting Mokoias, West Coast stocks remain very quiet. Investment Stock Quotations;— National Bank, buy 89/. sel 90/; Bank of New Zealand, buy 74/, sel 75/6; Westport Coal, buy 122/9: Coal and Oil. buv 5/6; Commercial Property, buv 2/9, sel 3/; Donachy’s Rope (ex.dwl, buy £l2 13/6. sel £l2 16/; MTieod’s Soap, sel £l4 14s. -