MINING.

Evening Star, Issue 14186, 11 October 1909, Page 6

MINING.

River height this morning, 6ft; weather overcast.

The No Town Crook Company report a return of 31oz for 121 hours.

White the gold yield of other pacts of the world shows little or no increase, that of the Transvaal has expanded to on extent far beyond expectations. This is in spite of the fact that there has been a steady decline in the gold contents of tbe stone crushed since 1902. Then the value of the contents was 42s per ton, and the cost 29s 6d nor tan. Now the total value of the gold contents is 29s 7d per ton, and costa are 20s 7d per ton, leaving roughly about 0s per ton available as profits for distribution to shareholders. The reduction, in the grade of the ore has arisen both from the opening np of the deep mines and also from the fact that the improvement in methods of treatment has enabled a large mass of ore that previously could not be treated profitably to bo made available for the mill. The expansion of the industry in the Transvaal is demonstrated by the fact that in 1905 there was treated 11,160,422 tans for a yield of gold of the value of £19,991,658, of which dividends amounting to £4,754,349 were paid, the costs absorbing the difference. In 1908 the tonnage treated was 18,196,689 tons, tbe value of the output £28,810,393, and the dividends £8,538,773, while for the first six months of this year 10,104,747 tone wore crushed for an output of 14,961,7370z, and dividends aggregating £4,542,494 were paid. The expectation, therefore, is that this year the Rand mines will produce 21,000,0000z of ore, that the yield of gold will be of tlie value of fully £30,000,000, and the dividends £10,000,000, or £1.500,000 more than in 1908.

The master of the Otago No. 2 dredge found the drift troublesome durino- the week. °

The Otago No. 1 dredge was engaged last week in opening out. t The return of 41oz cabled from the Stanley Paracalo dredge in the Philippine Islands last week is considered satisfactory. The dredge is yet opening out, and when everything commences to run smoothly more gold should be obtained. Writing on September 9 the company’s Manila agents say i —‘ 1 V/e have every rooeon to believe that, in spit© of the delay incurred through an abnormally dry season, the prospects are exceedingly bright.” Mr F. W. Payne, who is at present at Paracale, writes : “I was on the Stanley dredge, and when she gets opened out and into a good wide ent she should do very well.” Largo quantities of goldboaxing quartz are dredged up, and this will bo saved and put through a crushing miH similar to what is being done by the Paracale Gold Dredging Company. RETURNS. Otago No. 1 : 10oz, week. Otago No. 2 : 50oz, week. Golden Bed : 440z Bdwt, week. Molynoox Hydraulic ; 250z, week. Manuherilda ; 17oz, 120 hours. Waikaka Queen : lOoz 15dwt, 130 houre. Golden Gem ; 7oz lldwt, 48 hoimf Worksop ; 290z 9dwt, 124 hours Golden Treasure : 18oz, 133 hours Pactolus No. 1 ; 450z 15dwt, 127 hours Pactolus No. 2 : 220z Idwt, 258 hours. THE SHARE MARKET. —Dunedin.— Golden Bed shares were the sole centre of business on ’Change this morning, a. sale taking place at 11s and a sal© beinn- reported at Us sd, The quoting generally was quiet, as is usual on Mondays. For-ward-delivery buyers for TaJisma.no were quoting 60s and sellers 625, and Grand Junction buyers offered 51s 6d, and sellers askc j 535. FoUowing are the quotations to midday Dredging Blackwatcr (contrib.) —Buy 5/3 ; ge] 4/ Black water (paid)— Buy 3/6. Golden Bed—Buy 11/, id 11)9 ; qq/ Hartley and Riley—Buv 15/, sd 20/ Mystery Flat—Sd 36/. ‘ Otago—Buy 13/, sd 17/6. Pactolus—Buy 6/9. Rising Sun—Buy 57/, sd 40/. Sailor’s Bend—Buy 4/3, sel 5/. Sluicing. Ross Goldfields—Sel 11/. Quartz. The. New Alpine—Sd 5/6. Royal Oak—Sel 3/. New Sylvia— Buy 5/5, sd 5/7. Blackwatcr Mines—Sd 27/6. Barewood—Buy 14/. Kurunui Caledonian— Sd 1/10. May Queen—Buy 4/10. sel 5/2. Talisman Consolidated—liny 49/9, s d 50/6. * ’ Tairua Broken HiU—Buy 2/2, sd 2/4. Watchman—Sd 2/11. Waihi Consolidated—Buy 5/3, sel 5/6. Waihi Extended—Buy 4/11, sel 5/4. Grand Junction—Bay 50/, sel Waiotahi—Buy 5/2, sd 5/6. Tasmanian Copper—Buy 4/3, sei 5/. New Kaitaia—Buy 1/. ' Consolidated Goldfields—Sel 21/6. Investments. Bank of New Zealand—Buy Bank of New Zealand—Buy 185/. National Insurance Co.—Buy 28/9, sel 29/3, Standard Insurance Co.—Buy 22/, sd 25/ Union Steam Ship Co.—Sel 34/6. National Mortgage Co.—Buy 57/6, sel 60/. Milhurn Lime and Cement (£1) Buv 26/9. ' J Milburu Lime and Cement (10/) —Buy 13/ Mosgicl Woollen Factory—Buy 50/6, sel 68/. ’ Drug Co., Ltd. (£2)— Buy 46/, sel N.Z. Portland Cement—Sel 40/6. N.Z.| Paper SBRs—Sel 23/3. Dunedin Stock Exchange ProprietaryBuy 52/. —Auckland.— Business done at the first, call included Bonanza, 9d; May Queen, 5s and 5s Id; Monowai, 2s 2d; Sylvia, 5s fid; Victoria Is 7d ; Waiotahi, 5s 4d and 5s 6d ; Hauriki! 2s 7d to’2s lOd; Royal Oak (contrihutiug) 2s 7d; Maoriland, lljd and Is; Talisman,’ 50s fid and sk; Waihi, 197s fid; Grand Junction,. 51s 6cl and 51s 3d ; Mountain King (.paid), Is 4d. WAIHI SHARES. Press Association—By Telegraph—Copyright LONDON, October 10. (Received October 11, at 9,15 a.m.) Waibi : Buyers, £9 10s; Bailers, £9 12s fid. Junction : Buyers, 48b 9d; sellers, 5k 3d.