MINING.

Evening Star, Issue 12943, 5 May 1908, Page 6

MINING.

River height this morning, Bft 6in; weather mild. For the week ended May 2 the Rising Sun dredge-master reports:—“ Dredged 130 hours, and worked ahead 12ft in the river portion of .the cut, 150 yds wide; average depth of ground worked, 40ft. Bottom partly sandstone, partly clay. The drift was not so bad as last week, but there is still a fair amount. Prospects continue the same, and the machinery is running well.” One of the largest and most enthusiastic public meetings ever held in Hokitika passed a strong resolution in favor of granting the application by a syndicate for water rights in connection with the proposed power scheme to work large areas of the auriferous flats and terraces in the immediate vicinity of the town. Strong exception was taken by many of the speakers to the Government’s attitude in this matter; and every effort is to be made to induce the authorities to prevent the frustration of genuine efforts to revive the mining industry in Westland.— P.A. telegram. RETURNS. Paterson’s Freehold No. 1 : 17oz, 152 hours. Paterson’s Freehold No. 2 : 230z, 132 hours. THE SHARE MARKET. DUNEDIN EXCHANGE. Quotations: — Alexandra Lead —Buy 3/, eel 3/6. Electric—Sel 11/. Golden Bed—Buy 9/, eel 12/6. Hessey’s —Buy 3/. Manuherikia—Sel 23/. No Town Creek—Sel 12/. Otago—Sel 30/. Rise and Shine—Buy 24/6. Rising Son —Buy 27/, eel 28/. Sailor’s Bend—Buy 15/9, sel 16/6. Talisman Consolidated—Buv 49/3, sel 50/6. Waikaka Queen —Buy 5/3, sel 6/6. Roxburgh Amalgamated (ctbs) —Sel 7/. Waihi Grand Junction—Sel 35/9. - Big River—Buy 20/3, sol 22/. Keep-it-Dark—Sel 27/6. National Bank—Sel 106/3. National Insurance—Buy 26/9. Standard Insurance—Buy 22/, sel 22/3. Union Steam Ship Co.—Sel 35/. Westport Coal—Buy 138/6, sel 139/9. N.Z. Coal and Oil —Buy If, sel 21. Federal Portland Cement—But 29/. sel 31/6. N.Z. Paper Mills—Sel 23/. CROMWELL NOTES. Our Cromwell correspondent writes : The rivers subsided considerably during the week, but the drift travelling in the Kawarau prohibited the two Electrics from doing any good. At time of writing a strong nor’-wester is blowing, with showers of rain, so the present fall in the rivers will be checked. The only dredging activity about here is centred in the CTutha basin, between Cromwell and Lowburn. Although the drift may be troublesome, the Rising Sun and the two Shines, week after week, produce their steady quota of gold, and consequently steady dividends to shareholders. The returns of these three dredges last week were remarkably good. The Punt dredge is steadily improving her returns, and it looks as if a silver lining is appearing at the edge of the cloud that has enveloped her for such a length of time. Only for the steady returns from the dredges on the once-despised Clutha River the business outlook in Cromwell would be deplorable.