MINING.

Evening Star, Issue 15433, 5 March 1914, Page 6

MINING.

The master of the Red Jack s dredge | reports that tehre is no change in j the characteristics of the wash, and I depths and widths were about the same as in the previous week. All the gear is running fairly well. The return from the Waihi Grand Junction mine for four weeks from 12,640 tons of stone (a Press Association met sage states) was gold of the value of £25,290. The last return from the Success dredge was won from the north end of the cut, where the dredge put in a steady run, and shifted a lot of ground. In the early part of the week the wash was very loose and drifty, but towards the end it improved, and "became tighter to dredge. On the north end corner a piece of the face, about 30ft long, w?.e dropped as it was only about Bft deep, and mot carrying payable gold. The dredge is running well, and, so far, the ladder has not become- any worse. Consideiable difficulty has been experienced in getting the Saxon mine clear of the gas which accumulated in the low level during the recent close easterly weather, and it was not until Thursday that, the mine was sufficiently clear to enable the work at the faces in the No. 7 level to be resumed. The drive westward on the Cardigan lode has been in progress, since then, ar.d is now in a distance of 25ft from the cross-cut. The drive eastward is in about 10ft. Both these faces will be pushed on now with an increased staff of men, as the directors have instructed the manager to push on the future operations with all possible despatch It is also intended to continue the cross-cat forward as soon as there is room to do so, in the expectation that the Cardigan No. 2 lode may be intersected. The sinking of the main shaft in the Waiotahi mine is being pushed on now with a full staff of men working four six-hour shuts. A further distance of 23ft has been .sunk during the fortnight, making the total depth of 777 ft from the surface. The country being passed through at the bottom is of a favorable nature for working, and the water has drained away so that better progress should now bo made with the remainder of this work, the object of which is to- connect with the I,oooft level. Operations are being steadily carried on at the Waikaka Deep Lead Company's claim with Nos. 2 and 3 dredges, __ and moderate returns are being won. No. 1 dredge has not been working for some timer but it is now being overhauled, and it is expected that a start wdl he made shortly. . ~ The secretary of the Nokomai Hydraulic Sluicing Company reports that at No. 1 a start was made on Tuesday to strip off the top material of the next padodek. A wash-up from No. 2 was made, making the return for the paddock 2050z 15dwt. No. 3 had eight hours' sinking during the week, and had to close down on Tuesday. No. 1 is using the Lion race water. For the period ended February 14 ths Waihi Gold Mining Company crushed and treated 14,391 tons of ore, for a return of bullion valued at £25,520. Compared with the return for the same period cf last year, the present figures show a decrease of £94. The total amount of bullion won from the mine to date (corrected to August 2) is £10.479.294 14s lCd. The overhauling of the machinery on the Waihi Reefs-Gigantic Company's property is proceeding, and it is.expected that everything will be in readiness for the Government boiler inspection about a fortnight hence. The inspection over, a start will be made to lift the surface drainage water, which has accumulated in tho shaft. This may* take from two to" four weeks, and when the shaft is dry sinking will be resumed. The intention is to carry the shatt (now down 914 ft) to 1,200 ft ot 1,250 ft. at which depth a crosscut will be projected to intersect the reef system.

WATCHMAN MINE. The Watchman mine and battery are now carrying on continuoue operation?. Twenty stamps have been engaged on the ore from the Dunedin and Parallel reefs during the last fortnight, and_ everything in connection with the plant is in thorough working order. The ore obtained from the stopes in the mine about the Sunbeam level is conveyed direct to the battery, and after passing through the crusher and stamps, is passed on automatically through the cvanide and other processes with which the plant has been fully equipped, and is treated in one continuous process from the crushing to the final smelting of the bullion. The first cleaning up will take place on March 2, but this will only be a clean-up of what amalgam is saved on the tables. Ttwre is, however, no doubt about the payable nature of the or© being treated, ancl as the company has a largo tonnage of profitable quality ore in sight on the various reefs under operations, there is every prospect of the shareholders being compensated for their outlay in the past dividends.

THE WAIHI DIVIDEND. . ' The, 83rd'dividend of Is per. share for the- quarter was paid to shareholders in, the Waihi -Gold Mining Company, , Ltd., on Monday. This will absorb £24,795 7s) and will bring the total dividends and. bonuses paid to date to £4,607,001 18s Bd. Thero are at present 2,246 colonial shareholders on the register of the company, holding 181,938 shares, aoid they will receive £9,096 18s. When the last dividend was paid,- on December 2, 1913, there wi 2,335 colonial shareholders, holding 173,053 shares, and £8,652 13s was distributed to them. The present dividend thus shows an increased distribution to colonial shareholders of £444 ss. The- total amount of bullion won from the mine to date is £10,479,294 14s lOd. . }

. AUCKLAND GOLD RETURNS. The 'Herald' states that the gold returns to hand fromi the various, mines in the Auckland province for the past month represented a total of £62,425 10s. Of this amount the Ohinemuri district contributed £61,896 4s 7d, the Thames district £209 5s sd, and tfte Ooromandel district £320. Two Waihi mine exushings are included in the total, the first of these representing the first return from that mine for the current year. Compared with the same period of last year the past month's figures show an increase of £9,658 8s lid. The returns for the month are tabulated as follows : —Ohinemuri.— Waihi G.M. Co.. 7,184 tons ...£12,563 Talisman Consolidated G.M. Co., 4.520 tons 23,813 Waihi G.M. Co., 14,391 toiw ...' 25,520 Total Ohinemuri district ...£61,896 —Thames. — Occidental Consolidated, 78oz' 12dwt £209 —Coron laiidcl. New Waitaia, 104 tons '...£320 Total Auckland district for February .-..£62,425

THE TALISMAN DIVIDEND. . The thirty-seventh dividend of Is 9d per sharo paid to shareholders in the Talisman Consolidated Gold Mining Company absorbs £30,187 10s, and brings the total dividends and bonuses declared since reconstruction to £879,284 7s. 6d. There are 1,281 colonial shareholders on the register of the company, holding 255,257 shares, and they will leceivc £22,334 19s 9d. When the previous dividend was paid on December 4 there were 1,238 colonial shareholders, holding 250.557 shares, and £21,923 14s 9d was distributed to them. Thus tho present distribution to colonial shareholde 6 shows an increase of £4ll ss. The total amount of bullion won from the mine to date is £2,128,558 4s sd.

THE SHARE MARKET.

DUNEDIN EXCHANGE. There was a somewhat sharp fall in Waihis at the noon call to-day, when a parcel changed hands at 48s 6d, and the market closed with holders asking 48s 9d, hut buyers declining to offer more than 48s 3d. The Auckland _ quotation- is similar. Junctions were inclined to rearm at the mid-day call, when buyers, who had offered 25s 6d in the morning, advanced to 25s lOd. Sellers declared at 25s lid at both calls. The fall in Junctions is scarcely justifiable by the latest return, which is the beet yet obtained from the mine, so that an early recovery in these shares may be looked for. Among the investment market bank shares remain quiet, while insurance shares have had a. fair amount of business off 'Change. Westport Coals are firm, with buyers at 30s 3d. and no declared seller under 31s. Union Steams are much the same as quoted yesterdav, while a sale was reported, in the pref. issue at 20s 2d. New Zealand Drugs and Kaiapoi Woollens continue to be in strong demand, the pref. issue of the latter being wanted at £5 3s ex div. In the dredcing division there was again firm inquiry for Electrics at 3s 7d. with no declared' Seller. It is understood that prospects are considered good, a<s when the river falls it is anticipated that some 1% returns, will be won. The market remains firm for Progress mines, which again had inquiry at 13s 3d. with reported business at 13s' sd. Quotations: —Dredging:— Electric—Buy 3/7. —Sluicing.—

Ross Goldfields—Buy 3/, eel 4/. —Quartz. — Black-water Mines—Sel 21/. Consolidated Goldfields—Sel 18/.

Progress Mines of New Zealand—Buy 13/3. New Sylvia—Sel lid. Old Hnuraki—Sel 3d.

Talisman Consolidated—Buy 43/, sel 44/6. Watchman—Buv 2/10^. Waihi—Buv 48/3, sel 48/9. Waihi Grand Junction—Buy 25/10, sel 25/11. Saxon—Buy 9d, sel 1/. —lnvestments. National Insurance Company—Sel 52/. Standard Insurance Company—Buv 32/. Lmion Steam Ship Companv (ord.) —Buy 24/6, eel 24/9. Union Steam Ship Company (pref.)—Buv 20/. Weft-port Coal Companv—Buv 30/3, sel 31/. New Zealand Coal and Oil—Buv 2/6, sel 5/6.

Kaiapoi Woollen (pref.)—Buv 103/. Mosn'iel Woollen Factory—Sel 72/6.

National Mortgage Company—Buy 78/6. 'Otaeo Daily Times '—B'iy % s3/. Perpetual Trustees Companv—Sel 21/6. Wright, Stephenson (pref.)—Sel 100/.