MINING.

Evening Star, Issue 15308, 7 October 1913, Page 6

MINING.

Owing to the unfavorable state of the river, all hope of the Sailor’s Bend dredge having a run this season has been abandoned. Previous efforts to test the ground at the Blackwater claim having been frustrated by an influx of water, a mechanical pump has now been secured, and the work will be proceeded with again. The Good Chance dredge .commenced operations in the, bank portion of the claim yesterday. The dredge master reports that the river has gone back, but as there are indications of warm weather setting in he does not fear that it will recede any further. CROMWELL NOTES.

In mining matters there is little to report, and returns for the past w T eek were unusually low. and in most cases barely equal to expenses. The rivers are fairly high, but the only dredge now affected in this respect is the Fllectric No. 2, which is at present idle. The Hartley Company, who, with sensational returns in the early days of their career, were in a great degree responsible for the equally groat and, to many disastrous boom, have run their course, and the dredge is now “at rest” on the beach where the first dredge was built. ■Shine No. 1 is still operating on ground which does not yield a profit, and the expected improvement mijjht be said to bo overdue. But there is little doubt that it will come. The No. 2, after only five days’ work, had a bad break on Saturday, when the crown wheel collapsed, and it will probably take two or three weeks to get a new one on the claim.

It is reported that activity on the Carrick has been renewed, as the Garrick Mining Company have increased the staff in their mine.—Own correspondent, October 6.

ROSS GOLDFIELDS. AFTER THE GOLD. . CHRISTCHURCH, October 6. Mr G. F. Davis (chairman of directors of the Ross Goldfields) has received the following telegram from the mine manager : “Completed connection into the Cassius mine drive, and connected up doubletrucking road to our main shaft. Am laying new rails through Cassius drive. Expect to start to drive in wash on the south side of the old Cassius workings on Wednesday.” Mr Davis says that he would like it to be clearly understood that the drives to be started to-morrow are the commencement of work for the recovery of gold. All work done up to the present has been purely developmental, but from now on the shareholders may look forward to regular weekly returns. These returns will be small for some few weeks. The management does not expect the gold returns to fully cover the expenses until after the end of this month. WAIHI SHARES. Press Association—By Telegraph—Copyright LONDON, October 6. (Received October 7, at 10.30 a.m.) Waihi : Buyers, 555; sellers, 57s 6d. Junction : Buyers, 225, sellers 235. Talisman : Buyers, 455; sellers, 50s. WAIH£MINE. The following cablegram was despatched to London by the management of the Waihi Gold Mining Company on Thursday : “ No. 9 level, Empire lode, 444 ft each and 14ft in; crosscut to the south has intersected the Dreadnought lode; value for first sft, 26s per ton; last Ift, 13s 6d per ton.

“ No. 10 level, Royal lode : East, 42ft driven, value 10s 6d per ton; west, 27ft driven, value 32s 6d per ton; at 481 ft west the lode is 16ft wide; value for first Bft 10s 6d per ton, next 4ft 25s 6d per ton, last 4ft 11s 6d per ton. Empire lode, east: sft driven, value 54s 6d per ton. At 450 ft the lode is Bft wide, value 45s per ton; Dreadnought lode, east ; 25ft driven, value 79s_6d per ton; the lode is about 3ft wide. Welcome lode, south section, west: 45ft driven, value 8s per ton. This is the Edward lode.

“No. 11 level, north: Crosscut from No. 5 shaft is in 290 ft.” THE SHARE MARKET. DUNEDIN EXCHANGE.

Three parcels of Junctions sold on ’Change this morning at 23s Id. Both Waihis and Talifcman refirmed at the noon call, the former having inquiry at 57s 6d, with seller at 58s, and there was a buyer of the latter at 45s fid. A sale was reported in Waihis at 58s. A parcel of Ross Goldfields sold at 16s Id, and there were further buyers at the same figure at noon, but no sellers under 16s 6d. Banks and Insurance stocks remain steady. Union Steam (ord.) had inquiry at 24s 9d. Quotations : —Dredging.— Island Block—Buy 1/3, sel 2/6. Manuherikia—Buy 1/3. • —Sluicing.— Ross Goldfields—Buy 16/1, sel 16/6. Nokomai Hydraulic—Buy 23/6, sel 25/5. —Quartz. — May Queen —Buy 2d. New Sylvia—Buy lid, sell/2. Talisman Consolidated—Buy 45/6. Waihi—Buy 57/6, sel 58/. Waihi Grand Junction—Buy 23/. sel 23/3. ' —lnvestments. National Bank of New Zealand—Buy 107/, sel 108/6. Bank of New Zealand—Sel 220/. Union Bank of Australia, Ltd.—Buy £54 10/. J ' Insurance Company—Buy

oa^ Shipping Company—Sol

Union Steam Ship Company—Ord, buy 24/9; pref., sel 20/6. Westport Coal Company—Buy 30/6, sel 31 / 3.

D.T.C. (ord.) —Sel 7/. Milburn Lime and Cement (£l)—Sel 31/9.

Mosgiel Woollen Factory—Sel 73/. New Zealand Paper Mills—Buy 17/ ‘ Otago Daily Times ’ —Buy 53/. Wright, Stephenson—Buy 130/.

SHAFT-DRAINING AT ZEEHAN. The State Mining Engineer, in response to a request from the Minister of Mines (Hon. E. Mulrahy), has furnished a report. on a proposal to drain the New Mount Zeehan or some other shaft for the purpose of opening up the workings below for tributers. At the time of writing (says ‘‘ Observer.” in the Hobart ' Mercury ’) t he substance of Mr Conder’s report has not been made known, but to the veriest tyro in mining knowledge it must be apparent that the unwatering of an abandoned shaft should be undertaken only after the gravest consideration of the probabilities of practical benefits accruing therefrom. The simple fact that the mine workings have been closed down at all makes one suspicious of the value of what is below, and in the case of the New Mount Zeehan mine it is asserted by those who were all through the workings just prior to the closing that there is nothing in sight there. To erect machinery, pump out this mine, and keep it unwatered would require an outlay of probably £IO,OOO to £12.000, and,, in the opinion of well-qualified judges, the expense is not justified. There are, however, other shifts, such as the Argent No. 6 and others on the Argent Flat, where, if arrangements could be made with the British Zeehan Company, beneficial results might be expected to follow the unwatering of these workings,. But perhaps one of the - best, ways of assisting the tributers of the Zeehan field would be for the State to unwater and prospect some of the old shallow workings of past tributes, where good results were obtained down, to 50ft or so, but below which depth the tributers were unable to go owing to the cost of pumping being too heavy.' There are several such places w«ll worth a trial. The installation of an

cost would bo comparatively small, and if results were unsatisfactory, the machinery could readily be removed, and be available for elsewhere. An investigation of the shallow workings and of their past records would decide whether or not an additional sink was warranted. If success' were met with royalty from the tribnters could be charged to repay the Government outlay. It is understood that the Mines Department in certain cases would be quite willing to do this, and would welcome reliable information from old tributcrs as to the prospects of shows about which they may have special information.