MINING.

Evening Star, Issue 13099, 4 November 1908, Page 6

MINING.

River height this morning, 6ft lin; weather mild. The progress report from the Mount Lyell Mining and Railway Company for the fortnight ended October 21 states that 503 tons of blister copper have been consigned for the current half-year. Progress at No. 1 claim of the Nokomai Hydraulic Sluicing Company was last week very much interfered with owing to accident;:, renewals, and repairs to the race. The break on the No. 1 race, which was of a heavy nature, is not yet repaired, but repairs were expected to be completed to-day. Good progress was made at No. 2; the ground continues same as last reported. Work at No. 3 was hindered somewhat owing to a small break in the race, but this should be easily repaired, and probably now is. IV c r."e intormed by a reliable authority that a rich reef has been discovered at Cuttle Cove. Preservation Inlet. As readers are no doubt aware there has been a great revival in mining in the Far West, and this discovery should give heart to those who have launched their capital to assist in the development of the undoubted mineral resources of Preservation.—‘ Western Star.’ .Several dredging claims are being pegged out on the f. iutha River (says the ‘Cromwell Argus'), but it is hoped that small dredges will not bo placed on these claims. One party are now negotiating for a large dredge to work one of the recently pegged out claims. It is stated that come of the pipes for the Luggate Creek Sluicing Company are leaking, and this will delay them for a while from getting a start.' The Clutha River dredge is not doing so well as expected, the returns being just about clearing expenses. The dredge was pulled ahead about 20ft last week.— Cromwell Argus.’ Riley’s Revival dredge will be stopped for repairs three days this week, and will resume work on Wednesday. The Rise and Shine No, 1 dredge forked Bft ahead last week. The cut was 480 ft wide and from 42ft to 48ft deep, with ground similar to that of the previous week. No. 2 dredge worked all the week in the eastern corner to clear the head and side lines of silt. The Enterprise dredge-master anticipates a better return this week. Tn his weekly report the Punt dredgemaster states that he had a little broken time through having to renew the buckets and tail chute at the end of the screen, the bottom has not dipped on the top side since Tuesday, nrul is getting more free. Wash is making as he works ahead, carrying fine gold. He has not yet got the face straightened up. as it took longer than he anticipated after getting the headline shitted. It will take all next week before he gets right across the tail cut. The machinery is running well. THE SHARK MARKET. PCNTtnix FAnrxxoß. Quotations ; ' Alexandra Eureka—Sel 4/g. I‘ lectric—Buv 2f. <el 3 9. Enterprise—Rny 2 . Island Block—j’nv 9d. T-ady Roxburgh fcontril; )—Sol 7/. Manuherikia Buy 10'. sol 12/. .Muddy Cieek—l’.iiv 22'6. Mystery Flat—Sd' 40/. New Trafalgar—Sel 19/. Pactolus -Buy 10 . Big River—liny 36/. Talisman Con oli la ted—Buv 40/ eel 40/41. ’ hj Waihi Extended—Fry 3/. \\a:hi Grand Junction—Buv 33 ; 6 eel 36/6, sale 35/. ’ ’ New Zeal in.d Crown Mine—Bur 4/. Welcome Quartz—Buv 2 p National Bank of N.Z Sri 100/6. Went pa 11 Star ktnn-Pel 10 o. National Mortgage Co—Ski 61 '6. Mosgicl Woollen Factory—Ski' 606 N.Z. Drug Co.. Ltd. (£2)—Sel 51/'. Portland Cement—Buy 28/3, sel N.Z. Portland Cement (new isi-ue)—Sel 8/3 p. I TOO MANY COMPANIES. .The feeling seems to be growing in •AatckftßpJ fhafc it is time to call a halt in Hie o9 floating ngjir mining comAfl a meeting oidjareholders in JagolH mining company yesterday, Mr D. E> Qhrfe, ih moving that the company be wotmdi Uov WJjnntarily. said that he represented 20,000 Blares, but that in the face of the present condition of the market he considered it would be an excellent thin" if they ftjulcl wind up half of the corn” panics. The .practice of running a large number of companies with J,d and Id calls was to a great extent a waste of money. He thought it would be well if operations in about half the mines could be closed down. The Hon. E. Mitehclson, the chairman, endorsed those remarks. Mr John Earl said ho had a great deal of sympathy with what Mr Clark had said, but still they should not apply it indiscriminately, but consider each mine on its merits. The winding-up motion was adopted.