MINING.

Evening Star, Issue 14786, 30 January 1912, Page 6

MINING.

The master of tho Mystery Flat dredge, reports that he had to cease working the. northern poition of the t':tc« last, wot'le owing to t'no bottom fusing to water level and carrying very poor waeh. ife is jiow in a southerly direction, and, in about a fortnight will be across the gully, and will prove the bottom there'!

'["ho Ka ran mi i dredge had a good run last week, dredging time being 100 hours. The deep ground on the outside of the t-iit 15 about run out. The ground is still deep on the inside. Prospects are very fair, and the machinery is runniiisr well. CROMWELL NOTES. [Kr.oM Our. Own Cop.p.EsroNnENTs.] The river has fallen considerably during tiie week. The gorge dredges will bo enabled to resume work, but the drift is bound to be troublesome. There is no doubt but the mining interest is gradually on the wane throughout the district, with the exception of tho Nevis, where sluicing and elevating on a bit; scale are carried on. There are also several dredges doing well there. On tho Kawarau the Electric Xo. land the Cromwell Syndicate's dredge are the only two on that river. On the Molyneux the old Hartley and Electric No. 2 constitute the fleet there, and on the C.'lutha Shine No. 1 and the Rising Sun dredges are the only two working now. while some time back there were no less than six dredges working between Cromwell and Lowburn. Tho Rising Sun continues getting good returns. The average depth of the ground is 44ft.

Shine No. 1 return shows an improvement. There is no doubt but this dredge will soon be on good gold again. There seems to have been a diversity of opinion among the shareholders in the Shine Company as to getting another dredge to replace the sunken No. 2, many contending tha.t the Xo. 1 should work out the claim. That dredge would not last long enough, as she has been steadily working for about 10 years now. The Golden Sun, which was under offer to the company, is not powerful enough, and would cost too much to render her and local shareholders are averse to the purchase. As the depth of grayel to be dredged is considerably over 40ft. a powerful dredge, with buckets of not less than 6 cubic feet capacity, encino 20 h.p., and boiler 30 h.p is a necessity. Anything short of these requirements has so far proved a failure on the Clntha River. THE SHARE MARKET. 111'N'KPTN KXrrtAN'GH. —Drerlging.— Quotitionf>: Electric— Buy 2/11. sel 4/. H'Htle.v and Rikv—-Sel 14/. Island" Block—Sel 3/. Koputai 13/. Mamiherikia —Sel 9/. Rise and Shine—Sel 29/. II i sice Sim—?.uy 35 ■'. sol 40/. Sailor's Fend —Buy 3/9. —Sluicing.— Mudrly Terrace—Buy 17/. —Quartz.— Consolidated Goldfields—Sol 16/9. Kuranui Caledonian—Sol 1/9. hj May Queen-Sel 1/8. New Zealand Crown Mines—Sel 3/. New Sylvia—Sel 1/8. Talisman Consolidated—Buy 50/3, sel 51/. Waitangi—Buv 2/5, sel 2/7. Waihi—Buv 44/6. sel 45/3. Waihi Grand Junction—Buy 26/10, sel 27/. Waiotahi—Buy, 4/3. —lnvestments.

National Insurance Company—Buy 38/3. Union Steam Ship Company—Buy 39/. sel 59/9. D.I.C. (prof.)— Buy 23/, eel 24/. Dominion Rubber—Sel 11/6 prm. Milburn Lime and Cement (£l)—Sel 39/6.

Milburn Lime and Cement (10/) —Buy 18/6, sel 20/. New Zealand Drug Company, Ltd. (i.2) —Buy 49/3. Wright, Stephenson—Buy 110/.