MINING.

Lyttelton Times, Volume CVI, Issue 12552, 13 July 1901, Page 2

MINING.

DUNEDIN- iSTOCK EX-CHANGES. [Per Press Association.] DUNEDIN, July . 12. Dunedin' Exchange ' sales at premium—Davis's Bend Ss fid, Extended l f ourteen-mile •Beach Is. Paid up-Bendigo £Bs, Electric Extended 33s and S2s, First, Chance 395, 39a 3d, 39s fid and 39s Gd, Eourteen-mile Beach 435, Gold Queen 7s and 8s '3d; Kawarau Bridge 9s Monro Christo 255, iSixtecn-niile Beach 16s, Upper Maguetio*los and 15s 9d, .Vincent 355, Vincent Extended 32s fid. Otago Exchange—-Great Central 255. DUNEDIN, July 12. Dredging returns—Sailor’s Bend 920 z, Hart-

ley and Riley 620 z, Boundary Creek 16oz Idwt, Wahnumu Central. ISoz, CANTERBURY STOCK EXCHANGE, The following are yesterday’s quotations of tho ■ Stock Exchange of Canterbury':—Al, sellers 20s pd; Ahaura River,., sellers 4s 9d p; Buffer Junction, sellers 6s 6d p; Caledonia, sellers par; Ford’s Creek, sellers 10s 6d pd; Garibaldi, Sellers .par; Groat Woodstock, sellers 14s pd; Greenstone Creek, sellers 20s pd; Grey River, sellers 23s 6d pd; Kohinoor, sellers 6s 3d p; Leviathan, sellers 20s pd; Mokoia, sellers 22s pd; l * New River, sellers 5s 9d pd 1 ; Pactolus, sellers 28s p; Pac.tolua No. 3, sellers- par; Perry’s- -Howard, sellers par; Red Jacks, sellers 25s pd; River Moiyneux, sellers 27s pd; Three-mile Greenstone, buyers 16s 6d pd, sellers 18a pd. ' THE WAIWHERO SLUICING AND DREDGING COMPANY. The first annual meeting of the Waiwhero ■ Sluicing and Dredging Company was held in the Company’s office, Hereford Street,' yesterday, when the Chairman of Directors, Mr J. Trent, presided, and the other directors and twelve shareholders were present. The directors' report, stated the whole of the face's and works were now completed, -and everything was running smoothly. Henceforth there Avould be two distinct claims at work—one at '' Geordio’s Terrace and one at Buckley’s Terrace. The former might not, for the present, give so largo a return as the latter, as tho outside edge only of the wash was being worked. During April the whole of tho West Coast dredges produced gold to tho value of £2300, ’ and during the same period tho Waiwhero Company obtained £BOS worth, or nearly ohe-third.. This amount had beenproduced by 1 the Water from, the tributary streams, only averaging eleven 'heads of water. The company was to be congratulated on possessing one of tho best and most permanent mining properties on the coast. The specified time lor ‘the' contract for Canoe Creek race had been considerably delayed, through difficulty in getting tho timber rafted from Greymouth. It had been contemplated to issue ■a further £3OOO worth of debentures, which, ■ with the bonus, would have increased the liabilities of the company by £4OOO. The Natiolia.l Bank of Now Zealand had obviated the necessity by .supporting, tho company in a liberal manner, and-providing the funds on ordinary current account.. The gold won had / been of . material.'.'assistance,;' and the .Companv’s present indebtedness to-the bank was rather leas than at the time of reconstruction.: The balance due to the contractors would be paid out of gold. The , engineer’s report showed that since sluicing had been started at Buckley’s the returns had totalled 4750 z 17dwt , 21gr, The balance-sheet showed net capital £18,936 ss, debenture account £3OOO, overdraft £1822 6s lOd, and gold obtained £lß3l lls 6d. The assets amounted to £20,011 is lid, andlthe expenditure to £10,639 Is 6d, less a balance of £39 8s 4dl at the. bank. ■ , ' The Chairman' of- Directors, Mr James Trent, in moving the adoption of the report and balance-sheet, Said the annual meeting would have been called earlier, but tho directors had wished to give some results of work. Tire company had had a big' fight, but had succeeded. The last clean up had been reported as for sis weeks, ’ bub -iii reality IV mid only taken twelve days’ work to produce 180bz of gold. This represented about 4|oz of gold to the shift on Buckley’s Terrace, and, under great disadvantages, Geordie’s Terrace had produced 2oz pet shift. There was no doubt there would be heavy frost, which would dry up the water, but when spiring came the company should top the _ gold return, list ,bn the West Coast.: The claim wits/said to be better even than the celebrated Mont. d’Or. . The company was Working two distinct, claims, and both were splendid properties, and there was plenty of ground to be dealt with. The flats would undergo a most thorough testing. The company possessed a very fine race, and it had been done cheaply. The ■ report and; balance-sheet were adopted. The Chairman, in answer to a question, , said fully 400 oz wero expected this month. ■' Messrs J. Trent, G. Gould 1 , H. P. Hill, G. B. RitchiO and F. H. Pyne, the retiring directors, were re-elected, and Mk E. Hill-Fisher was xe-clected auditor. A vote of thanks to tho directors colicluded the meeting.