MINING.

Evening Star, Issue 14040, 22 April 1909, Page 6

MINING.

No wire as to the height of the river at Alexandra was received by the Exchange to-day. Warden Evans in granting dredging claims where a creek enters the river on the claim now imposes a condition that a channel must be left through the tailings so that it has a clear way (says the Cromwell ' Argus ). Another condition in connection with an application for a claim under twenty acres is to put in a sketch plan. Both of these conditions are necessary, and will no doubt be the means of saving coeiderable litigation in future. Electric No. 1 dredge-master reports : " The pieoe of ground that we are at present dredging on is very deep, and for this reason it has not been worked before. We started dredging early on Thursday last, and got bottom on Saturday at a depth of over.,4oft. The small amount of paddock dredged consisted of soft reddish reef on the Bannockburn side and hard rock on the Cromwell side. The soft bottom part contains fair prospects of gold of a coarse nature. The dredge is working very well and the river is fairly 6teady." The master of Electric No." 2 writes : "Dredging was resumed on Wednesday, the 14th inst., at 3 p.m., and since then work lias been carried on steadily. A paddock about 90ft wide has been opened out to a depth of 30ft. and on Saturday afternoon a depth of 36ft was reached. The bottom has not been touched yet, and during the stoppage on Sunday the paddock got partly filled in with drift. The river, though falling slowly, is still at a fairlv high level, and the drift caused by the late floods has not yet subsided I expect to reach bottom to-night, and if all goes well I hope to have a small wash-up at the end of the week."

THE 'SHAKE MARKET. DTJNEDIN EXCHANGE. Quotations : Alexandra Eureka—Sel 3/.' Alexandra Lead—Sel 2/7£. Central Cliarlton—Buy 2/6, ?el 6/6. Chicago—Buy 6/. Electric—Buv 3.'. sel 5/. Hartley and" Rilev—Buv 17/6, s»l 21/ -Manuherikia— Sel 13/. Mystery Flat—Sel 32/. No Town Creek—Buy 11/. Pactolus—Buy 5/. liise and Shine—Buv 32/, sel 33/3. "Rising Sun—Buv 32/. Suitors Bend—Sel 12/6. Talisman Coasolidated—Buv 48/. sel 48/9 _ Waihi Grand Junction—Buy 30/9, sel Bank of New South Wales—Buy 174 6 sel 180/. ' ' National Insurance Co.—Buv 28/6' sel 29/3. " ' New Zealand Insurance Co.—Sel 78/. Standard Insurance Co.—Buv 20/3 « P 1 20/9. • J ' ' New Zealand Snipping Co.—Buy 136'. National Mortgage Co.—Buy 55/6. ' New Zealand Drug Co., Ltd. (£2) —Sel New Zealand Portland Cement—Buv 40/ selftj. •> '' New Zealand Portland Cement (new issue)— Buy 10/6 p., sel 20/ p. 'Otago Daily Times'—Buy 417/6. Kauri Timber (pref.)—Buy 14 *Z -N.Z.- Paper Mills—Sel 22/3..'