MINING NEWS.

Lyttelton Times, Volume LXXIV, Issue 9166, 28 July 1890, Page 6

MINING NEWS.

[By Telegraph.] [from our own correspondent.] EBEFTON, July 26. The Brokers’ Association report Moderate business took place during the week, but, excepting the Wealth of Nations, most of the stocks have been comparatively stationary, and prices remain unchanged. The battery returns are very satisfactory, that of the United Alpine showing a marked improvement, while the Globe’s total of amalgam for the month gave 16730 z from 745 tons. A dividend (No. 17) of one shilling per thirty-six thousandth share, equal to £IBOO, is payable on Monday next. Very little has been done in this stock, which occupies a firm position, and is now regarded as a very fair investment. Inkermanns were in better demand earlier in the week, holders generally keeping ahead of buyers in price. United Alpines, a stock which has remained very inactive for some time past, came into better notice towards the end of the week. Sales at 24a Bd, with a rising tendency, no doubt assisted by tbe expected striking of the reef in No. 7 level. Cumberland, a property at Merrijigs, has developed a gold-bearing reef on the surface, and buyers are offering 9d, sellers asking Is. Golden Treasures bad sellers at Is 9d all the week ; buyers offer Is 5d ; and the mine is said to be looking well. Crushing starts during the incoming week. The stone is being taken from the large reef, which will give ample material for regular stamper work. Gallants sold early in the week at Is 4d; buyers are offering Is 2d this evening. Small parcels of Keep-it-Darks are offered at 10s 6d, and any new development at the mine would see a rapid rise in this well-known stock. Merrijigs, Golden Lead and O.K. keep stationary. Crushing from the former at the Sir Francis Drake battery is now in progress. Buyers of Hercules at 2s 6d, sellers asking 3s. The striking of tbe reef in the crosscut from the main shaft is expected at the end of next week. The month’s operations at the Progress battery show a fine margin of profit, and bring this property a step nearer the dividend list. Rewards and Resolutions were inquired for at low rates. The latter sink on stone next week. Wealth of Nations had a very fair turn of business at from 4s up to 6s 3d during the week; an easier tendency to-day, sales at 5s 6d. Considerable improvement in this mine is reported. Midday quotations: Cumberland 9d to la. Golden Treasure Is 5d to Is 9d, Gallant (buyers) Is Id, Inkermann 22s 3d, Hercules 2s 6d to 3s, O.K. (sellers) Is 9d, United Alpine 24s 3d to 265, Wealth of Nations (sales) Sa 6d. The above prices are subject to the usual brokers’ commission. [Per Press Association.] AUCKLAND, July 26. Great activity is reported on the Puhipuhi field. During last week four new holdings were applied for, and seven claims pegged out. GREYMOUTH, July 27. The export of coal products last week was only 493 tons, about one-eighth of the previous week’s export. EEBFTON, July 27. The following are the crushing returns for the week; —Globe 9140 z of amalgam from 190 tons; cleaned up for four weeks with 5930 z of gold from 745 tons. Welcome 183 oz of amalgam from 120 tons, Inkermann 1640 z of amalgam from 90 tons. Progress 3600 z of amalgam for the week, Keep-It-Dark 9L)oz of retorted gold from 370 tons. WESTPORT, July 27. The coal export for the week ended .Saturday, last-waa .4566 tons#,