MINING NEWS.

Evening Star, Issue 12927, 25 September 1906, Page 6

MINING NEWS.

n^t^ !m^ d JP^ haSL ( 3ecr etery of the (-tafiel Lead Sluicing Company) informs ns thai ho received a wire from the local director stating that they had got the -water through the race and over the face at the Cnffel Range to-day, so that sluicmgoperataons will commence immediately The dredge-master of the Rising Sun dredge reports for the week ended Septem- °? 2 V^r redged m hcrare > md worked ahead 12ft. Had to retrash the bottom tumbler and do other small repairs. The drift has stopped running, and shall be able to get over more ground if the river remains steady. Prospects show a sßgfat 2 D C OTen *!£ t '' and the ground is a little fegmex. The gutter is stall in the centre of tne cut, and is about 52ft deep; the rest averages 40ft. Machinery running

A special meeting of the Sailor's Bend Company's shareholders was held yesterday afternoon to consider the financial position- To wipe off all debts (the chairman Captain Sundstrnm, explained) and have sufficient in hand to make a good start next season, £I,OOO was necessary. Many favorable opinions, as .to. the state of repair of the dredge and the undoubted richness of the claim were passed, and Mr R. T. Wheeler explained that their position was simply due to the unfavorable nature of the season. It was. resahred—»"Tiiat 40Q

debentures of £2 10s each be issued to. shareholders, proportionately to theVholdings,as far as possible, interest to ibe at the rate of 15 per cent, per annum whenever paid off." It was further nesolved—-"That-in the event of shareholders not responding to,the above in full, the matter be left to the directors to act as they may deem best." THE BHARE MARKET. BVmtDIN BXCHAHGX. This morning's sales:—New Zealand Paper Mills, 235. Quotations: Bignell's No Town—Buy 1/, sel 3/6. Blackwater (paids)—Buy 12/6. Chicago—Buy 9/3, sel 12/. Enterprise—Sel 5/. Golden Bed—Buy 10/6, sel 11/6. Golden Run—Buy 9/6. Lady Roxburgh (paidsh-Buy 4/, sel 10/. Molyneux KohiiKKjr (contribs.)—Sel 61. Mystery Flat—Sel 36/6. Muddy Creek—Buy 30/, sel 35/. New Alpine Consols—Buy 7/6. No Town Creek—Buy 13/3. Otago—Buy 39/6. Pactolus—Buy 38/. Sandy Point—Buy 21/6. New Trafalgar— Sel 21/. Waikaka Queen —Buy 3/. Waimnmu—Buy 2/, sel 4/6. Roxburgh Amalgamated (contribs.)—Buv 5/9, sel 6/9. J Big River—Buy 4/, sel 4/9. Talisman Consolidated—Buy 30/, sel 30/9. National Bank (new issue)'—Sel 99/. Bank of Now Zealand—Sel £8 16/1 National Insurance—Buy 24/, eel 24/6. New Zealand Insurance—-Buy 75/, sel 79/. South British Standard Insurance—-Sel 20/6. Mflburn Lime (10/ paid)—Sel 12/6. Mosgiel Woollen—Sel 61/3. N.Z. Drug (40/ paidr-£uy 47/. sel 48/3. _ NJL Portland Cement— Buy 35/9, sel 56/6. Donaghy's £7. N.Z. Paper Mills-Buy sel 23/3.

CROMWELL NOTES.

[Fboiu Our Own Correspondent.]

The equinox ushered in two days of very cold weather, with a soaking rain, which will be of incalculable benefit to farmers and graziers. The surrounding ranges have a heavy coating of snow. As it is too late in the season for the frost to harden, it may be expected to melt very soon, and again rise the rivers, which wero gradually reducing their level. With the exception of Electric No. 2, none of the returns were what can bo called good. On the Clutha the Rising Sun had a fair return, considering that three shifts were consumed in effecting some necessary repaiis.

The Punt lost a lot of time through the elevator, which is in a bad state, giving considerable trouble.

Neither the Alpine Consols nor the Riley's Beach has so far got on to payable ground. As I have stated previously, neither of these dredges is of sufficient power and capacity to deal with such heavy ground as is contained in the Clutha River. Mr Keiderman proceeded to Bendigo yesterday to superintend the erection of the elevating plant in the gully, and to see about opening up the old quartz mine.