MINING.

Evening Star, Issue 14314, 12 March 1910, Page 5

MINING.

The directors of tho Waitahuna Sluicing Company, who carry on mining operations in Waitahuna Gully, have declared a dividend of Ls per share. annual meeting of shareholders in the Golden Crescent Sluicing Company, Ltd., was held at Lawrence on Thursday evening, when thero was a fair attendance of shareholders, Mr W. F. Smyth (chairman of directors) being in the chair. Tho diroctors' report was in the following terms :—" Your diroctors, in submitting the balance-sheet for the year, feci that they can congratulate tho shareholders upon the position, or rather upon the prospects, of tho company. Shareholders are woll acquainted with tho circumstances which led up to tho decision come to to work tho cement, and with the steps taken to provide a new high-preesuro plant. The proposals, submitted by the directors, were readily agreed to by all the shareholders except one or two. Having secured tho shareholders' approval, no time was lost in procuring the new plant and getting it into operation, and the result so far mu6t bo considered satisfactory, and tho prospects highly encouraging. Given favorable weather conditions, your directore expect to bo in a position before long to pay back tho amount of tho levy. It has not yet been decided what further stops will bo taken with regard to building a dam." In moving tho adoption of the report ami balanco-sheot, the Chairman said that the long spell of dry weather had affected their water supply, in consequence of which they had not been able to carry on work to the best advantage, and that meant when the material was not put through tho yield of gold was not sufficiently large to allow .dividends to be paid. Their high-pressuro plant was a complete success, but unfortunately the intermitting nature of their water supply was against tho best use being made of the plant. Until they woro in a stronger position financially he thought it was inadvisable in the meantime to go on with tho building of the storage dam, for which plans and specifications had been prepared. Later on the directors could call shareholders together and decide as to the best course to be taken in regard to augmenting their water supply. Tho report and balancosheot woro adopted, and the directors specially thanked for tho manner in which tiiey had carried out their duties during the past year. Mr J. K. Simpson was re-elected to the directorate. Tho height of tho Molyneux River this morning was 15ft 6in ; weather fine. Tho master of the Electric No.'2 wired this morning to tho effect that last night he was about one and a-quarter miies down the river, and expect*; to pass the Electric No. 1 to-day. A return of 16oz Bdwt from the western section is reported from the Now Trafalgar. The master of tho Rising Sun in reporting the return of 660 4dwt, for 130 hours states that as yet the river ha 6 only fallen 6in. The master of the Rii-e and Shine No. 1 dredge reports that owing to the flooded state of the river he could not bottom, and had therefore stopped dredging on Friday and blown down the boiler for inspection. There will b© no wash-up this week. No. 2 dredge has stopped for a similar Teason. RETURNS. Blackwator : 260z 4dwt, 115 hours. Rise and Shine No. 2 : 470z 17dwt, 138 hours. Muddy Creek No. 1 : 21oz 6dwt. Koputai : 18oz 12dwt, 119 hours. New Roxburgh Jubilee : 18oz 7dwt, 119 hours. Mystery Flat: 15oz, 136 hours. Waikaka United No. 1 : 220z 14dwt, 127 hours. Waikaka United No. 2 : 16oz 3dwt, 132 hours. Rising Sun : 660z 4dwt, 130 hours. Worksop : 250z 9dwt, 118 hours. Sandy Point : 31oz 17dwt. 140 hours. Olrig : 13oz lOdwt, 9 days. Punt: 9oz 2dwt, 116 hours, Pactolus : 38oz 16dwt, 216 hours. THE SHARE MARKET. —Dunedin Exchange.— A parcel of Old Haurakis at 4s 4d was the only sale on 'Change this morning. A forward delivery sale of Junctions was recorded, at 35s 9d. The forward delivery quotations were: Junctions, buy 35s 6d, sel 565; Talismans, buy 52s 9d, sel 555: and Consolidated Goldficlds buy 22s 3d, sel 23s 6d. The following were the other prices: Dredging. Alexandra Eureka—Sel 3/. Blackwater (cont.) —Sel 5/. Electric —Sel 4/. Golden Bed—Sel 23/. No Town Creek—Sel 10/. Nelson Creek—Sel 16/6. Otago— Sel 20/. Pactolus—Sel 5/3. Rise and Shine—Sel 46/. '' Rising Sun—Buy 38/. sel 41/. Sailor's Bend—Sel 9/6. '.; Sluicing. Ross Goldflelds— Buy 7/6, sel 9/. Nokomai Hydraulic—Buy 16/, sel 20/. Muddy Terrace—Buy 24/. Quartz. Consolidated Goldflelds—Buy 22/, sel 23/6. Keep-it-Dark—Buy 14/. Kuranui Caledonian—Sel 1/7. May Queen—Buy 4/, sel 4/6. N.Z. Grown Mines—Buy 5/3, sel 6/. Old Hauraki—Buy 4/3, sel 4/6. Talisman Consolidated—Buy 52/9, sel 55/6. Waihi Extended—Buy 3/2 sel 3/6. Waihi Grand Junction—Buy 34/5, jr.el 35/. Investments. National Bank of N.Z.—Sel 126/. National Insurance Co.—Buy 28/3. sel 29/.. Union Steam Ship Co.—Buy 31/6. Westport Coal Co.—Buy 121/9. Westport Stockton—Buy 7/, sol 8/. Trustees, Executors—Biiy 60/. Mosgiel Woollen Factory—Buy 56/6. N.Z; Drug Co., Ltd. (£2)—Sel 47/3. N.Z. Portland Cement—Buy 39/6. N.Z. Paper Mills—Buy 21/3, sel 22/3.