MINING

Hokitika Guardian, 30 March 1935, Page 8

MINING

CHARLESTON SLUICING CO. The report a„uTioe- S heet of «“ Charlesto'i Staking Company, “ December 31, im boon mm*, •*“ rnnual meeting of shareholder *ill he annual in 8 balance-sheet held on Apnl 10. shows'- that the net loss fa th ? was £937/9/7. The report is a » • As mentioned'in our prevmus repo 4t the first annual general meeting of ' shareholders, sluicing operations suspended towards the end ot 1. 3 X to replace the original wood n blocks in the tunnel tail race *ith steel rails. The steel rails have prot ed a great success, no troub.e being experienced with them. They are standrig up to the work -exceedingly well. This work was completed towards the middle of February, 1934, andHhe' « wash-up since the cessation of s operations took place on March The total gold won since that date was 39Soz Bdwt, valued at £2«30/14/l.- 1* mine costs for the period miner review were £2591/14/4. Mr W. S. Calluk .e----tires from the directorate, and being eligible offers himself for >e-*lecion. The retiring auditor, Mr W. S. MaeGibbon, again offers his services. Items in the balance-sheet are:— Working Account—Gold extraction £lß7l/6/9, repairs and maintenance £687/14/9, tools and implements £Li 1/8 -materials and sundry gross working profit c/d £143/19/ total £2735/14/1. Profit and Loss Account—lnsurance £l6/5/7, rates £3B/14/7, supervising fee £SO, travelling expenses £-0/o/», secretarial salary £125, engineer’s fees £7B/15/-, rents and licenses £2,directors* fee. £2lO, legal expenses £2/1- b, engineer’s travelling expenses W/ expenses of investigation £363/-/W----manager’s travelling allowance £5-. general expenses £93/6/2, tota, £lOBl 0/4. Grojss working profit d/b £143/13/9; net loss for year £937/9/7; total £lOBl 9/4.

CENTRAL OTAGO POWER SCHEME

The construction of a new .electricpower scheme has been commenced at the Roaring Meg Creek, Kawarau Gorge, ten miles from Cromwell, Central Otago. The work is being undertaken by the Otago Central ElectricPower Board, and partly financed by the Clutha and ' Molyneux Dredging Companies. The latter are constructing twm new electric dredges,' which will each take 500 kilowatts or current from the new source. At present 50 men are building an intake weir in the Roaring Meg Creek, 900 ft. above the Kawarau Gorge, in which a power station of 2000 k. a. v. capacity will he situated. They are also elearng and forming a trench line 4ft. in width through heavy rock country and down steep grades for the pipeline, which will he one and a half miles in length.' When this work is completed, the building of the power station will commence. It should be ready to supply power by next November. The rise of 900ft.’ from the power station site to the intake-weir is over rough, rocky country, and it was found necessary to utilise a team of 13 packhorses for takng timber, cement and other building materials to the site of the weir. The two new dredges are being built at Alexandra and Clyde. KING SOLOMON RETURN. INVERCARGILL, March 29. The wash-up at the King Solomon mine for the week was 71oz lOdwts. SHARE QUOTATIONS The latest share quotations are: Maori Gully Is 4d, Is 4RI; Mataki Is 9d, Nevis Diesel pi, lid; New River —, sd; Okarito 6s 7d, 6s 9d; Skippers 3ld, 4d; Waihi 42s 6d, 43s 2d; Worksop 2* 4d, 2s 8d; Upper Watnt —•, 6s; Alexander (15s) paid 17-s, 17s 6d; Argo Gold Is 3-ld, Is 5; Bendigo Goldlight 9ld, lid; Big River 2s 2id, 2s 3*d; Brian Born 4d, 4sd; Barrytown (10s paid) 225, 23s 6cl; Charleston 4d 6d ; Gillespie’s Beach —, Is 8d; Golden , Sarnie 2s 3d, 2s 9d ; Goldfields sd, 5% ; | King Solomon *ls 3d, 5s Lawson’s Flat § 1:1, 3d; Mahakipawa lOd.