MINING.

Evening Star, Issue 14628, 26 July 1911, Page 6

MINING.

The Olrkr dredge resume*! operations on Sunday ni^ht.

The -width of the face worked at the New Trafalgar claim last week was 200 ft, with the depth for the most part 30ft, risinc to 27ft for a short distance in the middle of the cut. The dredge worked 21ft ahead. The rougiier ground Toportod to be cotnins in late last week proved to be only a narrow bar, but the gutter in the boundary gave way to -rising Ix>ttorn and continued so for the week.

At the Electric Xo. 2 claim prospects were fair during last week. The bottom was very changeable, being alternately hard and soft. The Lady Roxburgh dredee -won 13oz 9dwt during opening-out operations last week. The master of the dredtre reports that there was little or no drift in the stream on the eastern side of the face, but neariwr midstream there was drift, although not a great deal. Prospects, were good up till Wednesday. The dredge was then removed to the west side on prospects. The sniaM vet'irns from the Gold on kSun dredge aro ; )ciitg obtained for the greater part off the- bottom, which changes continually, and face, produce* little or no gold. There are indications of lop layers a short distance ahead, and if these make the returns arc almost certain to show an improvement. Mr Thomson, Inspector of Mines, was on a visit to Cromwell last week, and inspected most of the industries under his control. It k reported that he is also framing a report on tho Athemeum Reserve, from a dredging standpoint, and the general opinion is that if it could be legally disposed of it would furnish (several payable claims, and in its present state the greater portion is of no use from an agricultural point, and tho trust is. quit© willing to make a deal The 909 dredge was on rich ground for the grcwiter part of the week, and obtained a handsome yield of 1790z 15dwt. A midweek wash-up on Monday returned 108oz, but in the latter half of the week prospects were, not so good, and hard patches

of reef wore struck. There is, however, little doubt that further payable returms ■ will be won until the dredge reaches the 1 worked ground some distance ahead, which carried good prospects. The dredge vriil then be dropped down to a la<rge stretch of maiden ground at the lower end of the 1 claim. The company have' now sufficient ' funds to declare a 5s dividend and leave ■* " reserve fund of over £I,OOO. "There is very little change to report in ' the prospects of the face," says the master of the Waikaia dredge. "On Monday last the head line was shifted to pull the. last corner ahead, and this allowed us to dredge tho best portion of the face until Wednesday. We are opening out, and will continue to do so The face is now aboui 9Cydtf wide, depths from 25ft to 27ft, maori bottom." The Electric No. 1 dredge worked lt>9. hours for a distance ahead of 80ft last week. The dredge had been taking a. narrow cut during the early part of the week, but later it pulled ahead to near the face ot tho late dredge master's out. Bottom was expected to be reached about the middle of the week. 'The dredge master's, anticipations, however, have not been realised, for to-day the secretary received the following wire from the dredge: —Bottom has not'been reached ; bailing silt out of the paddock. There will be no wash-up this week. Tho master of tho Rise and J?hi no >io. 1 dredge reports that a distance of 4ft was nir.de ahead last week. The cut was 600 ft wide, and from 42ft to 48ft deep, with bottom consisting ot various clays and coal. I*respects were good, the bettor geld being got from tho west side of tho paddock. Sandy Point reports:—Dredging titr.e during "week, 120 hours; width of cut, 100 yds; distance worked ahead, 7ft; average depth, 30ft. The class of ground was the same as in previous week. It us ! i L'ood soft bottom, pretty well right across the cut, but it seems to carry very little gold. Prospects are poor. The following business was done- at the 3.15 p.m. call of the Auckland Stock Exchange vesterdnv : —Mav Queen, 2s 3d; New Svlvia. Os 9d ; Saxon. 2s 7d ; Waihi, 62s 9d ; Waihi G-rand Junction, 275; New Magnet, 3d ; Waiotahi. 3s Id : Waitansi Consolidated, 5s 3d : Northern Steamship (pm.i, 15s 9d ; Auckland Tramways (prof.). 2os 9d. RETURN. Paetolns : 51oz lOdwt, 110 hours. THE SHARE MARKET. nUXKDIX lIXCIIAVOE. Sales reoortcd:—N.Z. Paper Mills, 21s 3d ; Union Steams. 41s 3d : Rise and Shine. 57? 9d. Quotations :-- j —Dredging.— i Blackwater (paid)—Sel 10.'. | Eloetrie--Buv 2'7. ! Golden lied--Buv 14,'. Hartley and Rilav -Buy 11/3. sel 1-1/9. j Mv.stcrv Fiat— 6'. j No Town Creek—Buv 5 S. pel 7/6. Rise and Shine—Buy 36/9, sol 33/. Kitting Sun—Buy 38'. —Quartz. — Consolidated Goldliekls-- Sel 20/. Kuiantu Caledonian— Sel I'l. | Mav Queen— Buy 2'2, eel 2/5. I New Svivia -Sel 3 0. j Saxon-"--Sel 2 8. Talisman Consolidated—Buv 50 6. sel j 51/ " • • „ -o , -■-' i Waitangi—-Buv 0,2, sel o-o. I Watchman—Buv 61/9, set 63 6. i Waihi Oram! Junction—Buv 26/6. Sfi 27/. Tasmanian Copper—Buy 6/1, sel 6 7. —lnvestments. National Bank of New Zealand—Buy 118/. Bank of New Zealand —Buy 245/. j Union Bank of Australia", Ltd.—Buy ] £67 100. [ National In&urance Co. —Buy 06/. N.Z. Insurance Co.—Buy S9/3. South British Insurance Co.—Buy 75/. Standatd lniiunineo Co.--Buy 31/, fiel N.Z. Shipping Company—Buy £ll 12/. Union Steam Ship Co. —Buv 41/6. sel 42/. West port Coal Co. —Buy 29', sel 23/6. N.Z. Coal and Oil—Buy 5/6. D.I.C. lord.)— Buy 5/6. Milburn Lime and Cement. (£l)—Buy 40/. sel 40/6. Mos-iel Woollen Factory--Buv 70'6. N.Z. Drug Co , Ltxl. (£2)— Buy 49/6. N.Z. Portland Cement —Sel 03/. N.Z. Paper .Mills—Buy 21,'. sel 21/5. 'Otago Daily Times'—Buy 49,6. Perpetual Trustees Co.--Buy 22.6. TilK WAIHI MIXK. The Waihi Gold Mining Company, during the four-weekly period ended Jul/,- 8, crushed and treated 26,540 tons of ore for a return of bullion valued at £52.108. Compared with £75,395, the actual je;;ii-a-tion of the bullion won from 35,868 t< ns of ore treated dining the eonespon.lmg period of last voar. the pivs-r.t ntiirn shows a. decrease of "£23.285. Jt ;.-. prob- j able tir.it this decrease will he lessened. ;.« ' tho bullion, when sold in London, i.unilly \ realises more than the estimated value, j this being clue to i lie ditl'erence tftwcea I the market value ot silver and the price. I at which it is always vrdt:e.d at the mm' — I viz., 2s pet oy. line. The total value of ere | won fi'om the mine io date (corrected to 1 the end of 1910) is £9.483.161, as. set. i forth in. the. foliowiug table of details:-- ■ Tot-r.l to end of 1907 £6,290,113 i In 1908 393,214 tons 930.511 | In 1909| 416.315., tons 959,594! In 1910, 442,020 tons (corrected j to December 31) 926.100 Totrd £9.106,318 Period ended— January. 21. 1911. 16.007 ton* (11 d'avs 16 hoars* crushinir) £50.C0l Februaiv 18. 1911. 32,065 tons 62.405 i March 18, 1911, 30.365 Urn., 60,258 j April 15, 1911. 29.451 tons ... 63.156 Mav 13, 29.006 tons oo.iTOj June 10. 1911. 27,318 tons ... 55.687 | Julv 3, 1911. 26,640 tons ... 52.103 I

'l\<u.l to date £9,483,163 Dividends, bonuses;, etc., paid, £4.265,071 15* 6d.

Tito local attorney of (ho Wailii O.iiil Mining (.'<;iii[K'-nv (Mr C. Rhodes) h;i« cabled to the London ortke as follow.;:

" ,\'i>. 9 level: Reptile south-east cryiwit h;ia been extended to 744 ft. Royal lode west of .So. 5 shaft crosscut, the average iidsay of the next. 70ft (6Coft to 750 ft) is 6;; £xl pr ton, and of the next. 20ft (75Cft to 770 ft) £2 0s 6d per ton. lvdward lode south irorn Perch crosscut, 50ft driven (420 ft. to 470 ft), the average, assay beiu 0 - £1 4u 6d per lon. At 450 ft the total .vidtli of the lode is 20ft, worth £2 17* per ton. Kuipire lode, each of No. 4 shaft crosscut, < ommencing at sCßft : Next 92ft driven (503i't to 600 ft) is worth fx 6d jh't ton. At 594 ft the width of the lode, is 10ft. worth £t. 4s per ton. No. 4 shaft, north-west crofbenL. reef at 651 ft ; the average value of the next 20ft (76ft to &6ft) is lis 6d per ton. We havo lowered tho water level to 85ft below level No. 0."