MINING.

Evening Star, Issue 14514, 4 November 1910, Page 6

MINING.

The attempt to raise the sunken Enterprise dredge has proved fruitless, and it does not seem possible that the machine will ever be taken from its present embedded position. Some of the machinery can be removed, however, and this will no doubt prove remunerative to the Ngapara Company, which purchased dredge' and claim.

The Chicago is still undergoing repairs. The Eureka dredge is working steadily, and her returns aTe more than sufficient to pay expenses. Water is fairly plentiful for sluicing at Matakauui, and all the claims are busily engaged in sluicing operations. On Tuesday last a start was made to prospect a claim adjoining Messrs Fink and party, on the Manuherikia basin, with the Keystone borer. The claim is held by Messrs Rivers and Luke, who pirrchased the Old Man (rredge with a view to shifting this machine on to the claim. Before dismantling the dredge and going to any further expense it was deemed advisable to prospect the ground. The Cainitrodlie dredge at Ida Valley keeps plodding away. It is stated that her weekly 'returns average over 20oz, which should be highly satis factory to tho small party interested in the venture. The Keystone drill has completed boring operations* on the Olrig claim. The first two bores were put down jii6t ahead of where the dredge is at present working, with a view to ascertaining the payable nature of tho ground. As the dredge will be up to the bores this week, a fair indication of tho value of the boring will bo given. The drill bored along tho bottom boundary of the claim. where prospects were good, but the Heft results were on the east side of the claim. I lores were also put down on the Sprinyvale side, but tho prospects were poor. Tiikcn. all through, the boring hits been attended with success, and the company is now in the position of knowing the extent of the auriferous ground in the claim.—' Alexandra Herald.'

The Trafalgar dredge worked the terrace section again last week, any changes in the ground being in the terrace comer. The gutter that come in last week has a tendency to deepen, with a decided trend towards" the terrace. Dredging was stopped after ths wash-up on Friday to replace tho screen path. This repair litis been pending for some time. Some bracing will to tho trestle work, and a set of new screen lines put in.

THE SHARE MARKET. TUNEDIN EXCHANGE. Tho market was dull this morning. No sales too'i plsvce, neither were there any | reported. The following- stocks ivero , quoted : —Dredging.— ISlackwater (contrik)-Buy 5'9, sel 7/6. Electric—Sel 21. Golden Bed—Buv 17'6. sel 19/. s Hartley and Rilev—Sel 12/6. Island'Block—Buy. 4/6, ?A 5/. Koputai—Buv 20/, sel 21/6. Otago—Sel 16/6. Ri6e and Shine—Sel 42/6. ' Rising Sun—B.:y 42/, pel 45/6. —Sluicing.— Ross CJoldfields—Buy 2:6, sel 2/10. Muddy Tenice—Buy 20,3. —Quartz. — IHackwate-r Mince—Sel 34/. Big River—Sel 62/. Consolidated Ooldtields—Bay 19/. May Queen— Buy 3/7, sel 3/11. New Zealand Crown .Mines—Buy 4 2. New Sylvia—Buy 3/5. Old Hauraki—Sel 2/9. Talisman Consolidated—Buy 55/, eel 56/. Talisman Consolidated (new issue)— Buy 36/. —lnvestments. National Insurances —Bay 32/3. Standard Insurance Company—Buy 25/6. Union Steam Ship Company—Buy 36/. Westport Coal Company—Buy 127/6. New Zealand Coal and Oil—Buy 5/6. Dimedin Stock hxchango Proprietary— Buy 61/. Perpetual Trustees Company—Buy 20/6. Milbum Lime and Cement (£l)—Buy 39/. New Zealand Drug Company, Ltd. (£2) -Sel 51/. ISLAND BASIN COMPANY. The directors of the above company have issued the following circular letter to shareholder* :—" Your directors beg to report that the extraordinary general meeting of shareholders of the above company held on the 27th ult., at Alexandra, was attended by fourteen local shoreholders, the aggregate number of shares tltereby personally represented being 1,032. The proposal to issue debentures for tho purpose of paying off the company's liabilities and further exploiting the company's property was enthusiastically received, thirteen out of the fourteen shareholders present pledging themselves to take up their respective quotas. Your directors wish to makeit clear that before the matter can be proceeded with it is necessary that at least 1,350 debentures be taken up by shareholders. This will mean nine debentures for every twenty shares. An extraordinary general meeting of shareholders is being called for the purpose of farther considering the position. Tho Tesult of this meeting will depend upon the attitude of shareholders in the matter of the issue of debentures." WAIHI SHARES. Press Association—By Telegraph—Copyright LONDON, November 3. (Beceived November 4, at 9.7 aan.) Warhi-: Buyers, 126s 3d; sellers, 128e 9d. Junctions: Buyers, 32s 6d ; eellere, 33s .5cU /