MINING NEWS.

Evening Star, Issue 12067, 12 December 1903, Page 8

MINING NEWS.

.tfr. Three-mile Greenstone report:—Dredge started last night: running well. The first annual report and balance-sheet of the New Fan-down Company has befln issued. From the balance-sheet* it appears that on October 31 the bank balance to credit stood at £l9l 19s sd, and bills receivable totalled £6B 15s. On the same date £877 lis 6d was owing to sundry creditors. The value of the gold won from the claim to that date was £271 15= 9d, leaving a balance to debit at profit and loss of £396 lis Bd. The report states that 'soon after the formation of the company tenders were called for shifting the pontoons from the West Coast and erecting them at Waikaia, and for the erection of the machinery; the whole of the work to be completed "by the 22nd April, 1903. Owing to various vexatious delays, the dredge was not completed until the 25th September, 1903. The dredge had been working for fan weeks, the results having been small, This can be accounted for to a large extent through the dredge having to treat a great quantity of the Mystery Flat tailings, thns hampering operations considerably, especially as the tailings contained a large amount of silt. A return of 118oz for two and a-half weeks' sluicing is reported by the Ladysmith Company. The return from the Revival dredge was obtained from the top wash, the dredgemaster reporting that the machine has not yet bottomed. The secretary of the Rising San Company wires that there was no wash-up this week, owing to Uie dredge having been clearing out the cut all the week. The short time worked this week by the Waimumu dredge is accounted for by the winches being under repair. Owing to boiler inspection, the Central Matar.ra had a broken week's run. The Aldinga's retern this week was won from the woth side of the face. No word has yet been received as to whether the Voltaic has succeeded in passing the last rapid in the Kawarau River on the way to the upper part of the claim. The dredge-master attempted it, but after going a distance found the river was too low. The last word received from him was on Wednesday night, when the river was just beginning to rise. The two days previous to that the crow had been engaged in rolling rocks into the river immediately behind the dredge to break the current, the river at the spot where the dredge was being exceedingly narrow. The dredge-master (Mr '-.■ ■ ' m A mechanical contrivance worth patenting is best submitted to Baldwin and Rayward, patent agents and consulting eng : neers, Joel's Buildings, Crawford street, Dunedin, who are qualified mechanical encincers.—£AdvtJ

Bourke) intended, if necessary, to blast away several rocks at the bend of the rapid. The Rise and Shine dredge-master reports that prospects are very good in the east corner. The dredge is not now troubled by drift, and is running steadily. . RETURNS. Sunshine: lloz 15dwt, 5 days. Revival: 220z sdwt, 204 hoars. Electric No. 2: 18oz odwt, week. Matau: 14oz, week. Nugent Wood: 220z lOdwt, 128 hours. New Fairdown: ISoz lOdwt. 110 hoars. Muddv Creek: 16oz 2dwt, 90 hourß. Waikaka United No. 1: 230z 16dwt, 132 hours. Waikaka United No. 2: 22oz'lldwt, 133 hours. Spec Golly: Boz 6dwt, 121 hours. Waimumu: 16oz 13dwt, 62 hours. Central Mataura: 12or. sdwt, 115 hours. Alexandra Lead : 17oz ldwt, 132 hours. Clyde: 48oz, 88 hours. Olrig: 31oz 6dwt, 126 hours. New Roxburgh Jubilee: 50oz sdwt, 157 hours. Ettrick: 270z, 119 hours. Lower Enfield: 3oz ldwt Upper Waipori : 240z, 139 hours. Gabriel: 19oz 2dwt, week. Rise and Shine; 250z ISdwt, 133 hours. WEST COAST. Blackwater River: 71oz 13dwt. 123 hours. Pactohis No. 1: 250z. 132 hours Pactolus No. 2: 540z 12dwt, 126 hours. Callaghan's Creek : 4Soz, 258 hours. North Beach: 17oz ldwt, 120 hours. Aldinga: 230z 12dwt, 123 hours. Mokoia: 260z ldwt. 120 hours. Montezuma: lOoz lOdwt, 99 hours. THE SHARE MARKET. DTTTvEDIN EXCHANGK. This morning's sales:—Alpine No. 2, 23/, 22/6, 22/; Enterprise. 21/. Quotations: Al—Buv 5/. Aldinga— Sel 7/. Alexandra Lead —Sel 7/9. Alpine No. 2—Sel 22/9. BignelPs No Town—Buy 16/3, sel 16/9. Blackwater (contrib.) —Buv 5/3 p. Electric—Sel 24/. Enterprise—Sel 22/. First Chance—Buy 5/6, sel 7/6. Golden Bed—Buy 5/ Golden Gate—Sel 64/. . Golden Run—Buy 21/, sel 22/6. Golden Treasure—Buy 32/. Golden United—Buy 5/6. Hartley and Riley—Buy 63/, sel 65/. luch Vallev—Buy 5/3.' Majestic—Sel 8/6. Mannherikia—Buv 28/. Mokoia (pref).—Sel 17/. Mosquito—Sel 17/6. New Halfway House—Buy 3/6, sel 4/. New Roxburgh Jubilee (pds)—Sel 26/. No Town Creek—Sel 26/. No Town No. 2—Buy 7/'. Oceanic Steam—Buy 6/, sel 6/. Reeves's Proprietary—Buv 9/6, eei 10/. Rise and Shine—Buv 27/3, sel 29/. Sandy Point—Buy 23/6. sel 26/. Stafford Waimea—Buy 8/6, sel 9/6. Waikaka Queen—Sel 9/. Waimumu Extended I —Sel 5/. Waimumu Queen —Buy 12/ dis. Alpine Extended—Sel 4:6. Big River—Buy 12/. Bank of New Zealand—Buy 76/6. National Insurance—Sel 21/. Union Steam Ship Company—Buy £l3. Westport Coal—Buy 13V, eel 137/. National Mortgage—Sel 45/. Perpetual Trustees—Buy 15/, sel 15/6. Milburn Lime (10s paidV—Sel 13/6. Donaghv's Rope—Sel £l2 17s 6d. M'Leod's Soap—Buy £l4. STOCK EXCHANGE NOTES. River height. 10ft 3in. A rather brisker tone obtained this morning in the share market, and a few parcels of mining shares bad exchange, mostly in Alpine No. 2 stock. Values in this suffered a fall, the market this morning being as pronouncedly a Belling one as it was a buying one a few days ago. Enterprise was the other stock dealt in, and this also proved weaker than late quotations would have indicated, one lot being quitted at 21s, without iv further demand being forthcoming Hartley and Rileys showed a closer d-rket, and" better demand was made for Go.den United pcrip without disclosing sellers. Blackwater River shares also {Appear tightly held just now, as the returns from the dredge have shown great improvement lately, this week's being the best she has yet obtained. Favorable reports from the' Big River mine have hardened share values, and the inquiry this morning reached 12s without any response from holders. In investment stocks the inquiry all round was better than it has been fig the week. Dunns the call the man announced that dividends had been red as follows:—Earnscleugh Com- . Is 6d per share: Cromwell'and Banburn (coal!, 9d per share for the halfended 30th ult.