MINING.

Evening Star, Issue 15268, 21 August 1913, Page 6

MINING.

The Rise and Shine No. 1 dredge worked a cut of 150 yds last week, making Bft ahead. The average depth was about 46ft.. There was still a good deal of coal bottom, but a little wash was coming in at the west corner, where the ground had previously been very poor. Drift gave a good deal of trouble throughout the week. No. 2 dredge will begin to cross the river to-morrow for the purpose of having the elevator installed. Tho dredge will then be ready for work. At the Waiotahi mine good progress is being made with the rise being put up from the I,oooft level under the . main shaft. This work has been let on contract up to the point where the core barrel of the diamond drill was lost. The rise is now up a height of 40ft above the I,oooft level, and is being pushed in with continuously with three shifts. The.' sinking of the main shaft is also being carried on with three shifts, and a depth of 94ft below No. 7 level has now been reached. The ground at the bottom is of a more favorable nature, and no difficulty is being experienced with the water. NEW AFRICAN GOLDFIELDS. Press Association—By Telegraph—Copyright. JOHANNESBURG. August 20. Authoritative accounts have been received regarding new goldfields near Kito, in the Belgian Congo. The reefs yield 70 per cent, of gold, and the new field is expected to outrival the Rand. THE SHARE MARKET. DUNEDIN EXCHANGE. The market was fairly active this morning. Union Steams showed a distinct tendency to harden, and there has been strong buying all round, although the cause is not easily ascertainable. Sales were reported at 43s 6d, 43s 6d, and 43s 9d, and on 'Change sales were made at 44s (two parcels), the market closing with further sellers at 44s and buyers at 43s 9d. Ross Goldfields were also the medium of a fair amount of business, sales being effected at lis 3d (two parcels) on 'Change, and 10s 2d, 10s 3d, and 10s 4d off 'Change. Rumors of a call being made yesterday may have had scomething to do with the movement in this stock. The market closed with a buyer at lis 2d and a seller at lis 4d. Wainis are fairly steady, but Junctions are perceptibly easier. " Two sales were reported in Ghristchurch Gas at £7. Quotations are as follow : —Dredging.— Electric—Sel 4s 6d. Island Block—Sel 3/6. Rise and Shine—Sel 32/6. Rising Sun—Sel 26/. Muddy Terrace—Sel 15/. Roxburgh Amalgamated (paid)—Sel 3/6. .Ross Goldfields—Buy 11/2, sel 11/4. —Quartz. — 'Consolidated Goldfields—Buy 12/6. Progress Mines of New Zealand—Buy 7/9, sel 8/3. New Sylvia—Sel 1/2. Talisman Consolidated—Buy 41/9, sel 42/9. Waihi—Sel 47/9. Waihi Grand Junction—Buy 21/, sel 22/6. Waiotahi—Buy 1/10, sel 2/2,. Saxon—Buy 7d, sel lOd. —lnvestments. National Bank of New Zealand—Buv 104/6. ■ ' Bank of New Zealand—Buy 209/. Union Steam Ship Company—Buy 43/9, sel 44/. Westport Coal Company—Buy 28/. Dominion Rubber—Sel 21/. Donaghy's Rope and Twine—Sel 25/9. Milburn Lime and Cement (£1) —Buy Mosgiel Woollen Factory—Sel 72/. National Mortgage Company—Buy 78/6. New Zealand Drug Company, Ltd. (£2) —Buy 45/. New Zealand Paper Mills—Buy 16/6. Wright, Stephenson—Buy 120/.