MINING.

Evening Star, Issue 14511, 1 November 1910, Page 6

MINING.

The No Town Creek dredge will be stopped for a week for reoairs. The crown wheel broke on Saturday morning. It is the intention of the dredge-master to replace it, and also put in now screen paths. ~ . A shilling dividend, payable on Wednesday next, is announced by the directors of the New Trafalgar Dredging Company. The Rising Sun dredge worked ahead 10ft on a cut 150 yds wide. A shift and a-half was occupied in rebushing tho bottom tumbler. There is no change to report in the nature of the ground. Prospects continue fair, and tho machinery is running well. The Now Big River returns for October are 2530z Bdwt from 175 tons, and from the cyanide 560z 6dwt from 300 tons. The Karaunui dredge had a fair run after resuming work last week. Prospects are very fair, and the dredge-master expects a return of about 50oz this week. After this week # the dredge will finish working out bn tne hydraulic tailings, and will then be turned up tho claim again, when, according to the dredge-master’s report, good returns will bo got for a considerable time. The pumping plant is now running well. At the Masterton dredge’s chiim wash still continues to look poor. Tho best of it, which lies between one and four chains from the eastern boundary, has also become poorer. From the centre of the face to one and a-halt chains from the western boundary the depth of tho ground has increased considerably, most of this part being now about 30ft deep. On the eastern boundary the depth of the ground is 30ft. RETURNS. Molyneux Hydraulic : 17oz, week. No Town Creek : 360z, 121 hours. Pactolus : 220z Bdwt, 129 hours. THE SHARE MARKET. DUNEDIN EXCHANGE. The market was fairly quiet this morning. A vast amount of quoting was done, but only one sale was made, a parcel of Talismans changing hands at 55s 6d. A sale was reported in Paper Mills (cumdiv.) at 23s 9d. To-day’s morning quotations are .as follows.— —Dredging.— Blackwater (contrib.) —Sel 7/9. Electric—Sol 2/3. Island Block—Buy 4/6. No Town Creek —Buy 7/. Rise and Shine—Buy 42/6, sel 43/3. —Sluicing.— Roxburgh Amalgamated (contrib.)—Sol 6 /. Ross Goldfields—Buy 2/6, sel 2/9, Nokomai Hydraulic—Buy 14/6. Muddy Terraco—Buy 20/. —Quartz. — Big River—Buy 67/. Consolidated Goldfields—Buy 19/6, sel 21/. May Queen—Buy 5/7, sol 3/11. N.Z. Crown Mines—Buy 4/2, sel 4/7. Old Hauraki—Buy 2/4, sel 2/7. Talisman Consolidated—Buy 65/, sel 56/. Talisman Consolidated (new issue) —Buy 36/. Watchman —Buy 2/6, sel 2/10, Waihi—Buy 152/, sel 133/6. Waihi Reefs Consolidated —Buy 2/5, sel 4/. Waihi Grand Junction—Buv 31/9, sel 32/3. Waiotahi —Buy 3/4, sel 5/9. —lnvestments. National Bank of New Zealand—Buy 115/. Union Steam Ship Co.—Buy 35/9. N.Z. Coal and Oil —Buy 5/. Dunedin Stock Exchange Proprietary— Buy 61/. Perpetual Trustees Co.—Buy 20/6. Trustees, Executors—Buy 60/. MUbum Lime and Cement (£1) —Buy 39/. N.Z. Drug Co., Ltd. (£2) —Sel 61/. N.Z. Portland Cement—Buy 34/9. Whitcomb© and Tombs—Buy 122/6. Palmerston N. Gas—Buy 170/.

, CROMWELL NOTES. [FBOM OUB OWK COEKBSPONDSMX.] ' As the river is now at (summer level, the gorge dredges have perforce to suspend operations. Dredging on the, Clutba will continue as usual Beyond the inconvenience suffered from travelling drift, a high river does not affect the dredges. The returns from both. the Shine dredges showed a marked decrease from the previous week’s. Shine No. 1 will now be stopped for repairs, which will occupy a fortnight. Although the Rising Sun lost twelve hours rebushing the bottom tumbler, her return was a very good one. The bulk of the bottom worked last week was clay, which never gives such good results as the sandstone bottom, as the latter melts away in the boxes and all the gold is disintegrated, whereas some of the gold on a clay bottom naturally adheres to it and passes through the boxes. The Punt dredge is opening out, and local opinion favors the idea that she will get on payable gold shortly. I understand that a new company with a capital of £2,000, to bo called the Golden Sun Dredging Company, is being floated to work the Riley’s Revival claim. As there are no vendors’ or promoters’ shares, the new company should be a success from the start, as it is well known locally that the dredge was on payable gold when stopped, and can bottom ground that the little Maori dredge, which got such handsome returns in the same claim some years back, could not bottom. The New Luggate Plydraulic Company are not doing so well as the handsome returns cot from the last paddock worked promised. The bottom so far has changed into a hard clay, with little or no wash on it, but may alter soon to sandstone or soft rock.