MINING.

Evening Star, Issue 14966, 28 August 1912, Page 6

MINING.

Electric No. 2 dredge worked ahead 40ft last, week. The bottom was mostly hard, but is becoming more of a chippy nature. On Tuesday* the dredge was pulled up to the face a,gain, and most of (lie return was won since. Prospect*! are only fair. At the Waikaia claim last week dredging operations were carried' out in the west section, which is now about 12ft from being parallel with tire cast section. Prospects continue good. The Rise and Shine dredge worked, Bft ahead last week on a cut of 500 ft, with the ground varying from 42ft to 50ft in depth. The present cut will be finished in about a fortnight, when the dredge will take up a piece of ground to the left of that now being worked, ami which will give about three months’ dredging. After that the cut adjoining the present one will be worked. The full width of the cut was worked at the Success claim last week. On the north end, next the old paddock, where the dredge turned smith, the bottom has been very uneven, but. carries good-looking dirt. On the, south end. next the terrace, the ground is deep and the wash very tight. In about three weeks’ time tho dredge will be up to the. top of the old paddock, which will give another dredge length of a cut. and which is fairly good ground. According to the ‘Argus,’ the, Garrick Gold Alining Company started crushing on Wednesday last, and should have a steady run now for some time. Prospecting is being carried cu up at the Star. Some of the. directors from Wanganui, where most of the shares are held, are. at present on a visit, with, it is reported, a view of starting another company. The secretary of the Nokomai Hydraulic Sluicing Company reports that No. 1 has most of the, old tailings blown off. The boxes arc tip and the tipples in position, and a start will be made laying the main line. No. 2 lost four and a-half shifts, owing to a break in the race, and it would be Tuesday lief ore a start was made to sink. No. 3 started to clean out the Lion race, but towards the head of the race the enow wits found to be too deep and hard for the liorse’s feet, which in places broke through the. crust, causing the horse to stumble and. fall. It is likely, however, that the work will be proceeded with within a, few days. The Cromwell Syndicate dredge has been repairing for the last week. The drudge has worked about 250yrLs up the Bannockburn Creek, and it is rumored the returns have been more than payable. During the past week the Electric No. 1 dredge- worked ahead 56ft. Tho bottom consisted of n. chippy, soil schist, which la,ter on changed to a puggy nature. Prospects are only moderate. THE SHARE MARKET. DUNEDIN' EXCHANGE. Bale reported : D.I.C. (ord.), 6s 9d. Quotations : -Dredging.—Masterton —Sel B'6. Mamtherikia—Buy 4/. Rise and Shine—Buy 25,. sel 24/'. Rising Sun— Buy 28/6, sel 30/. —Quartz. — Consolidated Goldfields —Sel 14.'. Koran ui Caledonian—Sel 1/8. New Zealand Grown Minos—Sel 2/6. New Sylvia—'Sel 1/4. Old Hauraki —Sel 1/8. Talisman Consolidated- —Sel 41/3. Waitangi.—Sel 1,2. Waihi —Buy 34 6. sel 55/3. Waihi Grand Junction —Sel 219. Waiotahi —Sel 2/5. National Bunk of New Zealand—Buv 120'. Bank of New Zealand—Buy 218/. National. Insurance Co. —Buy 39/. Standard Insurance Co.—Sel 32 3, Union Steam Ship Co.—Buy 47/6. sel 48/. Westport Coal Co.—Buy 28 ; . sel 28/o. D.I.C. (pref.) —Buy 22 9. Dalgcty and Co.—Buy 129J Dominion Rubber—Buy 27/3. N.Z. Portland Cement—Buv 27/9, sel 28/5. Wright, Stephenson—Buy 110/.