MINING.

Lyttelton Times, Volume CV, Issue 12531, 19 June 1901, Page 2

MINING.

—#• WEST COAST NOTE'S. [From Our Correspondent.] G RBI',MOUTH, June 18. The dredgemaster of the Waipuna reports that --the dredge is now getting clear of boulders, and tha-i (h*e expects an improvement in. the wash in a day or tyro. New River is running smoothly ou good wash, and a yield of 'about 250 z is' expected for this week. Rreiiminary work in connection v.'iill the Leviathan Freehold Company bas been commenced. The contract for the laying cf a inunway to the claim from the road h«s been let, ana the tiniber for the pontoons is being osxtecl. The directors of the Stoney and Mosquito Leads Gold-mining and Dredging Company, in order 'to -thoroughly test uhe claim, sank a second paddock 20ft by 15ft wide and 231 t deep.' In all 255 cubic feet of wash were tested, with a yic-Id of 8 6z lOdwfc of gold/ giving an average value of 2s 8d per yard. A Irani' way has been constructed from Island Creek to the Pairdown building site.. The cwi'trawOr is pushing on _tho construction of the pontoons, and expects to finish before the Bed time. The Waroatea pontoons are nearing completion. The whole oi th© machinery for this dredge is -on the ground, and its erection will be commenced as soon as -the poa. toons have been launched. At \f -ing of shareholders m Perry a Reward Com pany, the balance-sheet was received and adopted. Messrs Perry and 'Michel were'rcelected directors, (tad Mr King was elected auditor. [Per Press Association.] HOKITIKA, June 18. The tributors of Craig’s Freohold washed up last week, Chesterman and party 18oz ,4dwt 18gr, Goudie and party 7oz I4dwt 21gr. The Totara dredge is afloat, and has been working since last Tuesday. It is reported to be on very rich ground. Bering operations have been earned out at the Koh-i-noor claim, proving it highly payable. The ground was known -to be very rich at 32ft, and the borings were continued to 71ft. They went through three false bottoms, the first at 32£t, then through 12ft of richer dirt -than even that of the old company, and averaging 4dwt to the load. From 52ft to 71ft another rich deposit was found richer than any of the top ones. With such. Prospects the *claim may run the Hartley and Tulip' very close. , , At the first -annual general meeting or shareholders of the Perry's Reward Company, Mr P. J. Perry, before putting the motion for the reception and adoption of the balancesheet, said that ha had Just returned from the - claim. The dredge Was working splendidly, but it would 'take three weeks yet to open out. It was a mistake for shareholders to think the purchase of a second-hand dredge would cost any less. Dismantling, cartage and other charges practically brought the price up to that of -a new dredge. The advantage was 'that it enabled the company to work their claim within twelve months of. the flotation of the company, which was unique in this respect, and having 4s per share of capital uncalled. Mr Perry took the opportunity of stating -publicly with reference to disagreeable rumours that the vendors were the largest contributing shareholders, that not -a single paid-up share had been sold. He,held 800 contributing shares, and though twelve months ago th© price was at 8s fid premium he had not parted with a single share. Mr Bears proposed the reception , and adoption of the balance-sheet. He commended the directors for their splendid administration. He urged that the administration of companies should be in the district where the claim was working, and that the directorate should not be a numerous one. He referred to the expedition with which the directors had completed matters, He i eulogised the management. The motion was carried. Messrs Perry and Michel were re-elected directors. The Ross Day Dawn contractors have been much hampered weather. The ponstoon deck will be finishedl in another week. The Tower Gaiitry is now completed. The company's finances have been the subject of muon correspondence. Out of summonses for £768, £720 has been paid into ’Court, and the company is now in a strong financial position. - [From Our Correspondent.] DUNEDIN, June 18. The Molyneux River ,is steadily failing, but is still lift above the normal height.. CANTERBURY STOCK EXCHANGE. The following axe yesterday’s quotations of the Stock -Exchange of -Canterbury: Sales—Bed Jacks 24s Sd. Al, sellers 22s pd; Ah-aura River, sellers 5s p; Bendigo, buyers 23s pd; Duller Junction, sellers 7s p; -Blackwater River, sellers Is dis; Bignell’s No Town, sellers Is dis; Caledonia, sellers par; Callaghan Creek, -sellers 5s fid p; Davis Bend,, sellers 3s 8d p; First Chance, buyers 84s fid pd; Ford’s desk, sellers 14s pd; Fourteen-mile Beach, sellers 42s pd; Golden Beach, sellers 24s pd; Golden Gravel, sellers 20a pd; Golden Reward, sellers par; Greenstone Creek, sellers 21s pd; Grey River, sellers 80s pd; Gfey Monarch, sellers par; Kohinoor, -sellers 7s fid p;.Kohinoor Extended, sellers 6d p;. Leviathan, sellers 28s pd; ’Lower Enfield, sellers par; Leviathan Freehold, sellers par; Marsden No. 1, sellers 20s pd; Marsden No. 3, sellers 20s pd; Mokoia, sellers 21s 6d pd; Nelson Creek, buyers 52s fidpd, sellers 57s pd; New River, buyers 10» pd,.-sellers 10s fid; New Alexandra, sellers 7s fid pd; Prince of WaleS, sellers. 4s pd; Red Jacks, buyers 24s pd, sellers 24s fid pd; River Molyneux, buyers 22a fid pd, sellers 26s pd; Reeflon United, sellers Is p.