MINING.

Evening Star, Issue 14473, 26 January 1911, Page 6

MINING.

The Golden Sun Company have started out on their venture. The dredge-master wired to-day that work was started yesterday. There will be no return this week, as the dredge will bo clearing up the paddock. The mats of the sunken Rise and Shine No. 2 dredge were recovered yesterday, but the diver has not as yet located the leak which caused the dredge to sink. The directors have now decided to obtain expert opinion regarding the prospects of raising the dredge. Otago No. 2 dredge had a good run last week, and obtained 13oz sdwt of gold while opening out towards the cast side, the river being ton high to work where the dredge was before the holidays. The Sandy Point dredge-master reports tha£ ho started work again last .'Tuesday week, but did not got over much bottom, on. account of the overburden that had fallen in during the stoppage, also what had been sluiced in to allow the bottom tumbler to bo put into position. It would probably be Monday night before tho face would be cleaned up. Tbo bottom is hard in places, making it revere on tho old buckets. The headline broke once during Inst week. Otago No. 1 dredge started work on Tuesday, after being slopped for a week for repairs. Tho ground was improving when tho dredge left of! work, but the present week will bo taken up principally in baling out the paddock. THE SHARE MARKET. DUNEIHX F-XCIIANOI;. A still further decline in Waihis this morning. Tho reason—well, few people aro advancing any reasons now ; but one must go pretty near the mark with the ono word "funk.” Weil, it may be that New Zealand shareholders are becoming somewhat frightened at the depressed condition of tho market. Sales took place at Wellington yesterday at 94/6, 93/6 on ’Change, and 95/3, 95/6, 94/9, and 95/ off ’Change. At Auckland three exchanges were effected, at 94/. 93/, and 94/. ’The local market ([notation for tbo last four calls (yesterday at noon, to-day at noon) show that there has been a. fairly steady decline. The quotations are 95/ and 96k 93/ and 95/, 90/ and 91/, 88 3 and 90/3. The question arises : Where will they stop? A difficult one to answer ; but they surely can’t go much further. Only two sales took place on ’Change this morning, at 99/6 and 91/, while one was reported at 90/6. Junctions sold on ’Change at 31/3, and off a.t 31/5 and 31/1 . The following are this morning's quotations; —Dredging.— Blackwater (contrib.) —Buy 11/. Golden Bed—Buy 17/6, sel 18/6. Hartley and Riley—Buy 9/, sel 15;. Island Block—Sel 6/3. Koputai—Sel 19/6. Mystery Elat—Scl 10/. Otago—Set 13/. Rise and Shine—Buy 30/. —Sluicing.— Muddy Terrace —Buy 17/5, sel 19/5. Roxburgh Amalgamated (paid)—Sel 6/. —Quartz. — May Queen —Buy sel 3/. Now Sylvia—Buy 3/7. Tairua Broken Hill—Sel 1/. Watclmum—Buy 2/4, sol 2/8. Waihi—Buy 88/5, sel 90/3. Waihi Extended—Buy 2/5, sel 2/5. Waihi Grand Junction—Buv 31/, eel 51/9. —lnvestments.National Bank of New Zealand—Buy 212/. National Insurance Com;)any—Buy 34/. Union Steam Ship Company—Buy 36/9. Westport Coal Company—Buy 145/. New Zealand Drug Company, Limited (£2)—Sel 49/9. New Zealand Paper Mills—Sel 25/9. M‘Leod’s Soap—Buy £l4. Dominion Rubber (prem.)—Buy 12/, sel 151 ■ SB __ = _