MINING NEWS.

Evening Star, Issue 13001, 21 December 1906, Page 6

MINING NEWS.

Tht.' Molyneux River, which yesterday reached the 10ft 9in mark at Alexandra, has fallen to the 9ft llin mark. Dunstan Lead shares were quitted yesterdav on 'Change at Is 3d and 9d. The last rail of the year on the Dnnedin Exchange took place this morning, when members adjourned for the Christmas holidays, to ' reassemble on Monday, January 7." A brief review of the business of the year—a very dull one in the mining market —was given by Mr E. R. Smith on Wednesday afternoon at the animal meeting of the Stock Exchange, at which he presided. He said that the excitement which had characterised the northern markets had not been experienced in Dunedin during the year just closing. Business in investment stocks had, however, been fairly steady and constant, and stability was a marked feature. As to transactions in dredging stocks, there had not been much to record, and this was to a large extent due to the high level maintained by the Molyncux, Clutha, and Kawaran Rivers during the winter months. Excellent and regular returns had, however, come from Waikaia and Waikaka, and there were some prospect of Waimea also preying a profitable field. He looked forward to the day when claims of large area {from five to ten miles) would be granted on the Molyneux, and powerful dredges, fully competent to treat tie rough ground and break up the tight wash. Would be set to work Uhereon. The failures of the boom period had been due more to weak machines and lack of trained men. than to the absence of gold. Mr Andrew Hamilton was apoointed chairman for the ensuing year, and the following committee were elected : Messrs E. R. Smith. H. S. Fcnwick. C. W. Harvey. W. J. Waiscu. H. Reeves, and the secretary (Mr W. F. Sligot. At vesierday's annual meeting of the Bigne.li's No Town Company a report by Mr W. Wylie. who is retiring from the position of dredge-master, was read. It indicated that solid gronnd not previously worked would be found from where the dredge is up stream to a bend in the creek. Hitherto the d red ire had worked a groat deal of ground nreviously sluiced in years gone by. Mr Wvlie saH bethought that thoro was a payable piece of ground where the gorge opens out right un to the top of the big bend, and that above there another change comes in. There it is solid, beeause at one time the road went up tie creek bed. and it was never worked. The meeting passed him a vote of thanks, and Mr C. Speight was reelected a director and Mr G. Blyth auditor. Mr H. B. Courtis, who 'presided, said that since the publication of the baiajice-sheet the company's finances had improved by £2OO.

THE SHARE MARKET. DCNEDC" EXCHANGE. Quotations : Alexai-.dra Alpii>> No. 2—Sol 26'. Bij, r n?l!"> No Town—Se) 5 . ipds.}—Sel 19. (.Vnr-.il Cliarltoiv —Sel 8 9. ('iiica^o —Bit 9'6. Danston Lead —Buv 3d, «•! 1 '. Golden Bed-Sel II . Golden Gat?— Bur 21 . spl 27 6. Goid*-n Run—Sel'9'. Golden Treasure—SeJ 4C.'. Lady Roxburgh (conrribs.i—Buy 12 dis. ad S/'dk. Masterton—Bar 47/6. sol 51 6. Molyaeux Hydraulic-—-Boy 7S. MoJynenx Kobinoor ipds.)—Buy 1/6. X<t Arpine Consols —Bay 5 . sol 7'. Otapo—SeJ 36'. SajxJy Point—Buy 21.. TaJiETDan Consolidated -Buy ,"i,3s 6d, pel 54(6. n'.Z. C*own—Sel 10 . National Insurance--Bay 24/9. Perpetual Trustees —Buy 18 . N Z IVipsr Mills—Sal 23.3. D.I.C. (pref.)—Buy 21/6. Milbnrn Lime (10' paid)—Sei 13.. Levland CVBrion—Buy 44/.