MINING.

Evening Star, Issue 14187, 12 October 1909, Page 6

MINING.

River height this morning. 7ft 3in; weather fine.

Our Cromwell correspondent wires:— " Heavy i..in yestcrdav ; river risen 3ft at the junction.'' " *

The .South Waikaia dredge-master worked last week on a cut two and a-half chains wido, the dopt.h of ground being from 24ft to 25ft, on a " maori" bottom. No wash was showing. Tho machinery was running welL The ground on tho Waikaia Company's claim continues deep and poor, with no signs of a change. Tho face is being worked the full width between tho tailings. The depth is from 26ft to 29ft from the water lino. Tho bottom is of "maori" formation.

The master of the Central Charlton dredge reports that last work's returns from sections No. 1 and No. 2 were rather below the average. This was due to less material being put through owing to a stoppage due- to a weakness in the worm gearing, which caused delay earlv in the week.

Tho Rising Sun dredge-master reports for the past week :—" Dredged 135 hours and worked ahead 9ft on a cut 200vds wide. Through being hampered -with the drift from the dredges above us it takes longer to get across the cut, consequently the return is affected. There is no change to report m tho nature of tho ground Prospects continue fair, and tho machinery is running well."

THE SHARE MARKET.

—Dunedin.—

A fair number of sales- took place over the first two sittings of the Stock Exchange to-day. At eleven o'clock Tniroa Broken Hills changed hands at 2s, Waihi Consohdatedfi at 5s 3d, Grand Junctions at 50s and 50s 3d, and Talismans (forward delivery) at 52s 6d; and at noon the only sale was in forward delivery Talismans at 53s 3d. The sales reported "were in Grand Junctions at 50s 6d and in Talismans at 51s 3d. Buyors for forward-delivery Grand Junctions quoted 51s 6d, and seflors 52s 3d.

Following arc thv. quotations to mid day :

Dredging

Blackwater (contrib.)—Buv 2/9. sel 5/ Golden Bed—Buv 10/6, sel 11/6. Hartley and Rilev—Buy 15/6. Island Block—Buv 1/3, se! 2/. Molyneux Hydraulic—Sel 5/. Muddy Creek—Sel 80/. Mystery Flat—Sel 36/. Otago-Sel 16/6. Pactolus—Buy 7/. Sailor's Bend—Buy 4/, sel 5/. Sluicing. Ross GoklSelds—Sel 15/6. Nokomai Hydraulic—Sel 24'. Quartz. The New Alpine (paid)—Buv 4/. sel 6-6 Royal Oak—Sel 3/1. New Sylvia—Buy 5/1, sel 5/5. Bjackwater Mines—Sel 25/3. Kurunui Caledonian—Bay l/o, sd 1/9 May Queen—Buy 4/10, eel 5/i Old Hauraki—Sel 2/8. Talisman Consolidated—Buy 50/6, eel Tainia Broken Hill—Buv 2 sel 2'l • sale 2/. ' ■ ■' ' Watchman—Buy 2/9, sel 2/11. Waihi Cbnsolic!a.ted—Buy 5/1, sel 5/6sale 5/3. ' ' Waihi Extended—Buy 5/, sel 5/5. Waihi Grand Junction—Buy 50/, sel 50/9. Waiotahi—Buy 5/1, sol 5/4. N.Z. Crown Mines—Sel 6/4. Tasmanian Copper—.Buv 4.3. sel s'. Consolidated Investments National Bank of New Zealand—Buv 117/6. Bank of New Zealand—Buy 185/. National Insurance Co.—Buy 28/9. Standard Insurance Co.—Buy 22/.' Union Steam Ship Co.—Sel" 34/6. Milburn Lime and Cement (£ly—Buy Milburn Lime and Cement (10/} Buy 13/ Mosgiel Woollen Factory—Buy 50/6 N.Z. Drug Co., Ltd. (£2)— Buy 46/. N.Z. Portland Cement—Sel 40/6. Donaghy's Rope and Twine—Buy 20/6 N.Z. Paper Milk—Buy 22/6'. sel 23/. Dunedin Stock Exchange Proprietary— Buy 52/. * —Auckland.— Business at the first call included May Queen, 5s Id; Alburaia(pa.id). 2s 2d ; Waiotahi. 5s 4d and 5s od ; Tairua Golden Hills, 6s lOd; Talisman, 52s 6d and 535; Waitara (contributing), Is 4cl. CROMWELL NOTES. [From Our Own Correspoxmmt.J Tho heavy rain, followed by warm weather, experienced last week caused the rivers to rise a little and started the drift travelling. In the. gorge Electric No. 1 was the only one that had any return, ami it was very poor. On the Clutha Shine No. 1 keeps up her verjr good returns. No. 2 should resume dredging this week. The Eising Sun's retarn of close on 550z was very good, considering the quantityofdrift from tho three dredges ahead of her she has to contend with. The rise in the river started it moving. The Punt dredgo got a better return now that she has opened out towards the eastern bank of tho river. I understand that the negotiations entered into by the "Revival Company for an acre of the Punt ground have fsllen through. Tho securing of this acre woidd be of material benefit to tho Riley's Revival Company in working their ground to better advantage. The return from the latter dredgo shows a marked falling off from tfce regular good one sho has been getting for some time. On the Nevis tho siraieers are taking every advantage of the water supply, and some, good wash-ups at Christmas should oventuate.

The Lnggato Hydraadic Company have a splendid water supply, and every advantage is taken of it by the manager, Mr Highlay. The last wash-up of 290z was for eleven days' elevating, as four days wore. lost through the elevator getting blocked up by a large stone. A good wash-up. is anticipated at the end of tho month.