WEEK’S MINING NEWS.

Lake County Press, Issue 977, 29 August 1901, Page 5

WEEK’S MINING NEWS.

Mr W. Patton, manager of the Glenrock Coy, reports :—“ This company cleaned up for the month of August and obtained 79ezs 17dwts 22grs from 150 tons crashed. The reef in the slopes at present is very small and for the most part of poor quality. In opening up ground at present we are very much hindered owing to the extremely hard nature of the ground, but we hope soon to strike more favorable country.” The quantity of gold exported from New Zealand during the first six months of the present year was 217,4780z, of the value of £844,888, which constitutes a recoid for the past 10 years. The export was made up as follows : Auckland, 82,534 oz, £302,422 ; Marlborough, 560z £205 ; Nelson 41340* £15,538; West Coast 57,6070z, £231,363 ; Canterbury, 12oz £47 ; Otago, 73,1350z, £295,313. If the return for the September and the December quarters is as satisfactory as that of the corresponding periods in the past two years, the export for the present year will be a record for 27 years. There is one important amendment we would like to see in the Companies Act and that is a provision that all statements, prospectus forms, circulars, etc., sent to shareholders shall be sent to the registrar of companies so that a copy of every circular, letter or representation made by the management to shareholders may be available to the public. These papers should also be available in connection with a mines record office, where all plans and information about mines would be filed. In every provincial mining district there should be a central office where all plans, reports, etc., of mines, whether coal, gold, or mineral should be filed. It would then be possible to trace through the history of a mine with great advantage to those who were embarking capital in a resuscitated concern. An instance of this occurs in the case or the Arthur’s Point dredge. If such a record were obtainable in the case of this mine it would have shown that the whole area except a small strip was worked over at the time of the old Sew Hoy dredging boom. —Mining Journal. The Upper Shotover correspondent of the Mining Journal writes Owing to the continuation of the frost, mining matters are almost at a standstill in this part of the goldfields. Some of the hydraulic claims have made several attempts to get a start, but •with very little success. The river is in real good working order, so far as volume of water goes ; but the waterraces and creeks are far too hard to do anything in the way of getting water in. However, the weather indications foretell a thaw, so in all probability another week should see an alteration in mining. This continual frost has been a benefit to the dredging industry as can be seen by the large weekly returns obtained.—The prospectus for the flotation of Mr R. J. Cotter’s claim, from Deep Creek to Maori Point, has been out for some time and according to the report of Mr Dwan, an old Shotover miner, it is nearly all virgin ground, more particularly on Stapleton’s beach, where in all probability the dredge will be built. The report of the man who

conducted tin* boring operations seems exci p-ionallv good, as li* states in bis r.-port that gold exists all through the ground, from top to bottom.—The work of getting the Moke O.eek dredge ready for work has been greatly hampered by the severe frost.—The Shotover Quartz Mining Co., Ltd., had to shut down for a few weeks during winter owing to the severity of tin," weather, hut they should have a full start again during this week. An extraordinary general meeting of the Eclipse Gold Dredging Company was held at Lawrence on the 21st inst,, for the purpose of taking into consideration the advisability of increasing the capital of the company by £2OOO. There was a large attendance of Lawrence shareholders, between 40 and 50 being present. Mr Herbert, who presided, in moving the motion to increase the capital, stated that a man who had been working there for nearly 30 years said that in the olden times, when he was able to get down to the bottom, lie could get an ounce of gold a day. He had received a letter from one of the promoters, Mr M‘Nab, who resides in the district where the claim is situated, in which he stated that since the visit of the directors to the district the unanimous verdict was that it would be the height of folly to close the dredge down just now, when the river was in such a favorable state for dredging. The writer went on to point out that, seeing they had a claim of one mile in length in the productiveness of which there was the strongest confidence by those competent to give an opinion, it would be a most unwise proceeding to allow the claim to be lost for the sake of a little money and pluck. That the vendors had every confidence in the dredge was proved by the fact that - they had declined to part with their interests even when the shares went up to £2 15s. And they were now willing to do more to show that their confidence was as firm as ever by helping to give effect to the proposal which it was thought fit to lay before the meeting. He (the speaker) had confidence enough to venture £2OO to increase the capital, and the vendors would make over to the company 675 shares originally paid for the claim, their object being to keep the capital of the company as low as possible. It was resolved to issue preference shares to the extent of £2OOO, the said shares to become ordinary shares as soon as 20s had been returned. It was resolved —“ That the offer of the vendors to relinquish 675 shares be accepted with thanks,” Some of those present signed for shares, while a number left without doing so.—Tuupeka Times. DREDGING RETURNS. oz. dwfc. Crcmwell - ... ... 222 J9 Manuherika ... ... 204 4 Junction Electric No. 2 ... 168 0 Electric .. ... ... 152 0 Monte Christo ... ... 143 10 Junction Electric No. 1 ... 100 0 Alpine Consols .. ... 77 3 Golden Gate ... ... 57 0 Second Magnetic 53 12 Unify 51 0 Matau ... .. ... 46 0 Clyde 49 0 Magnetic ... ... ... 47 2 Earnsclcugh No. 1 ... 44 0 Perseverance 40 17 Success ... ... 39 1 Earnsclcugh No. 2 ... 37 14 Majestic ... ... .. 37 7 Empire ... ... ... 36 14 Sdloi’s Bend ... ... 36 11 First Chance .. ... 34 0 Meg and Annie ... ... 33 18 Alexandra Eureka ... 33 0 Waimumu Central ... 33 0 Enterprise No. 1 ... ... 31 IS Chailtou Creek ... ... 28 12 Fourteen-Mile Beach ... 27 3 Long Valley 27 0 Olrig .• 26 11 Otago ... ... ... 55 10 Gabriel ... ... ... 23 11 Golden Treasure 23 10 Cairumuir ... .. .. 23 8 Reliance 22 3 Alpine No. 2 21 17 Hartley and Riley ... 21 8 Waitnumu Queen 20 5 Molyneux Hydraulic ... 20 2 Spec Gully 20 0 Evans Flat... ... ... 19 4 Dunback 19 I Inch Valley 18 0 Chicago ... ... ... 18 0 Bannockburn Creek ... 16 18 Upper Waipori ... .- 16 3 Teviot - 15 3 White Star 14 14 Enterprise No. 2 13 18 Golden Gravel 13 17 Shepherd’s Creek... ... 11 17 Lawrence ... ... ... 911 Lady Charlton ... ... 9 4 Gibb’s Beach ... ... S 17 Naumai ... 811 Central Electric ... .. 8 0 Great Central 7 18 Kelly and Casey ... ... 7 0 Arrow Junction ... ... 4 0 West Coast. Mokoia 33 15 AI 31 11 Three-mi'e Greenstone .. 29 0 Reeves’s Proprietary ... 28 0 Buller Junction 21 10 Pactolns ... ... ... 20 0 Ahaura River 17 7 Maori Qu on H 0 Erickson’s Reward ... 14 0 Greenstone Junction .. 13 15 Ford’s Creek ... ... 13 S Grey Raver ... ... 9 10