MINING NEWS.

Evening Star, Issue 12874, 25 July 1906, Page 6

MINING NEWS.

Though the Lady Roxburgh dredge has been at work since Thursday, there is some doubt as to whether there will be a wash-up at tbe_ end of this week, as the dredge is opening out a cut after being hud up for a month.

The Kura dredge has stopped work owing to the crown wheel breaking. At adjourned annual meeting of the Blackwater River G.D. Company Messrs William Brown and A. Tapper were re-elected directors, and Mr G. M. M’Lean was reappointed auditor. There was no discussion on the motion to adopt the report and balance-sheet (already summarised in this column) ; but the chairman (Mr W. Brown) mentioned that after the payment of the last Is dividend (declared since the closing of the year’s accounts) the credit balance would stand at £430, exclusive of the reserve fund of £750. He also said that suggestions had been made on the Coast as to the saving of some of the working expenses by dispensing with the revolving screen and putting in sluice boxes. Mr Morrison had gone into the matter, but it was doubtful'if anything could be done to improve the existing state of affairs. The claims on the Coast were unlike each other, and in the Blackwater claim the water level was something like 7ft below the grass, and, taking this into account, the machinery required to overcome the difficulty would bo _ considerable. Another dredge in the vicinity wds being fitted up with this system of working, but the success of the alteration had not been proved yet, and perhaps it would be as well to wait. The meeting passed a vote of thanks to the directors. THE SHARE MARKET. DUNKUI.V EXCHANGE This morning’s sales :—N.Z. Drug:, 47/9. Quotations: Ihinstan Lead—Buy 1/6, sel 4/. Electric—Sel 25/. Enterprise—Buy 5/6, sel 7/. Ettrick—Buy 2/9. Golden Bed—Sel 14/. Golden Run—Buy 14/, sel 16/. Island Block—Buy 4/, sel 4/9. Mystery Plat—Buy 25/, sel '3O/. New Alpine Consols—Buy 7/6, sel 9/6. No Town Creek—Sel 14/6. Otago—Buy 40/, sel 47/6. Pactolns—Buy 56/. Rise and Shine—Buy 20/, scl 20/6. Sandy Point—Buy 21/. Waihi—Buy £8 14/. Big River-4-Sel 4/9, Talisman Consolidated—Buy 23/9. scl 24^3. National Bank (new issue)—Scl 98/. National Insurance—Sel 24/. New Zealand Insurance—Buy 73/, scl 78/. Standard Insurance—Buy 19/6, sel 20/3. Cromwell and Bannockburn—Sel par. Commercial Property—Buy 6/6, sel 7/6. National Mortgage—Buy 61/,' sel 63'. Milburn Lime (10/ paid)—Sel 12/6. Mosgiel Woollen—Buv 60/, sel 64/6. N.Z. Drug (40/ paid)— Buy 47/6, sel 48/. N.Z. Portland Cement (contribs.l—Buv 18/6, sel 20/. Ddnaghy’s Rope—Buy £7 5/, sel £B. STOCK EXCHANGE NOTES. 1 River height, 7ft 4in (stationary). The market in mining shares is again quite inactive. This morning’s quotations disclose no sign of any movement., and are singularly devoid of interest. After a. sale of Standard Insurance shares yesterday afternoon at £l, the market seemed a shade easier in these this morning. A deal uas effected in N.Z. Drug shares at 47/9. It may not be altogether out of reason to assume that the uninviting outlook as regards dredging has brought about mire inquiry for shares in other local industries as a channel for investment. Certain it is that during the last week or two buyers’ attention has been turning towards such stocks as Mosgiel Wool. Standard Insurance, Westport Coal, Commercial Property. National Mortgage, and N.Z. Drug. This has had the natural consequence of improving the tone of these stocks, and in not a few cases an improvement in values, as compared with former rates, can be instanced.