COMMERCIAL

Greymouth Evening Star, 16 August 1933, Page 8

COMMERCIAL

STOCKS AND SHARES. [per press association.] SYDNEY, August 16. Banks: Australasia £lO, New South Wales £26/15/-, ex-Union Australia £B, ex-National New Zealand 70/-, Bank of New Zealand £lOl shares 4S/-. Loan and Mercantile £75/10/-, ordinary stock £27/10/1, Bulolo 70/-. WELLINGTON, August 16. Reported sales: Four per cent. Government bonds, 19-10, £101; 1955, £lOO/10/-; Central Shotover 9d. DUNEDIN, August 16.

Sales reported: Commercial Bank Sydney £lB. On ’Change: Bank of New Zealand 49/9; Gillespies Beach 1/IU. ■

CHRISTCHURCH, August 16.

Sales: N.Z. Government 4 per cent. Inscribed, 1940, £lOl 2/6, N.Z. Refrigerating (10/- paid) 6/11 (4), New Zealand Breweries 35/3 (2), Howard Smith 9/11, Alexander Mines (13/6 paid) 22/-, 22/3, 23/-, 23/3, 23/2, 23/-, 23/2; Blackwater 32/3, Consolidated 15/-, Mahakipawa 2d, Okarito (cum. div.) 11/10Xd, Waihi Grand Junction 3/9 (3). Reported: N.Z. Government 4 per cent, bonds, 1955, £lOO 15/-, Bank New South Wales £33 10/- (2), Westport Coal 13/1. AUCKLAND, August 16.

Sales: Grand Junction 3/9; Renown (ord.) 2/3; Waitahu 7/51; Commercial Bank 16/4, 16/3; Waihi 24/6. 24/9; Bank of New Zealand 49/8; Burns Philp 51/3; National Bank 83/-; Union Bank £9/4/-; National Bank of Australasia £l3/2/-; Bond’s Stock, fours, £lOO/10/-. MINING RETURNS. NOKOMAI COMPANY. DUNEDIN, August 14. The secretary of the Nokomai Gold Mining Company reports a further wash-up of 1390 z. from the present paddock. This paddock has a floor area of 11,880 square feet, and, allowing for material by-passed while opening out, it is estimated that approximately 38,000 cubic yards passed through the boxes.

The total return from the paddock is 4220 z. sdwt.

LAWSON’S FLAT SLUICING COY. CHRISTCHURCH, August 15. Progress reports from the new mine manager of the Lawson’s Flat Company state that he is preparing a comprehensive report, but meantime mentions that he is very pleased with the claim and its possibilities. During his first week, the boxes were cleaned out, giving a return of 33ioz. of retorted gold. This was chiefly from previous development work. The material put through consisted of a large proportion of “bottom.” Alterations to the tail-race No. 1 are being proceeded with to obviate sluicing this non-paying material. On No. 2 face, a trial scheme of return water has proved effective and, being inexpensive, will be installed. The clearing away of stones is now being effectively dealt with. Much of the gold is proving to be of a flaky nature, necessitating special attention to the goldsaving tables to get the best results. When the full report is available by the manager, copies will be sent to the shareholders detailing the progress and future policy.

OPERATIONS AT WAIHI. • WAIHI, August 14. Interesting exploratory work is being conducted by the management of the Waihi company’s original holding and also in the Grand Junction area. Detailed particulars were given by the superintendent, Mr. H. W. Hopkins, and the mine manager, Mr. J. L. Gilmour, to a Press Asso-ciation representative.

Touching first on the testing of that portion of the Junction area in virgin country, it was stated that at the Random No. 6 level corresponds with the eleventh level in the Waihi mine. A prospecting cross-cut was being thrown out for the purpose of testing the ground on the line of the Royal lode, east of the main fault. The reef originally cut by the Grand Junction Company east of the fault and on the course of the royal lode had a southerly dip, whereas the Royal previously worlfed had always had a northerly dip, this being consistently characteristic of the lie of Royal. There was room for doubt as to whether the quartz cut by the Junction Company was really of that body. The first objective of the cross-cut was to find the Royal with a northerly dip. It was virgin country and 2000 feet remained to be driven before reaching the Junction boundary. The country rock so far encountered was characteristic of gold-bearing country in the Waihi mine.

Following recent developments on the north branch of the Martha reef, west of No. 2 shaft, the company had decided to test further the parent lode in the western part of the property by driving along the course of the lode at. No. 5 level for upwards of SOO feet. For the purpose of making a final test of the parent body cross-cuts will be projected into tbo country north of the lode at points which seem to present favourable indications as driving progresses. MATAKI DREDGE

The Mataki dredge, near Murchison, started opening out a face last Thursday, and dredging will commence in real earnest next Monday. TO-DAY’S MINING MARKET. Lawson’s Flat, buyers 1/2, sellers 1/3; Alexanders (Cont.) 23/2, 23/3; Nokomai 3/8, 3/9; Charleston 1/101, 1/111; Mining House Concessions 2d, Id; Golden Sands 2/9. 3/9; BigRivers 1/4?., 1/6; Blackwaters 35/101., 36/11.; Gillespies 1/111, 2/-; Waitahu 7/4, 7/5; Okarito 11/101, 11/111; Brian Born 20/-, 21/3.