MINING.

Lyttelton Times, Volume CVIII, Issue 12933, 29 September 1902, Page 2

MINING.

WEST COAST NOTES. [FrOII OtTR OoiIUESI’ONDENT.] , GBEYMOUTH, Sept. 23. Tihe feature o{ the week has 'been the excellent promise given regarding the Southern or Ross dredges. Koh-i-noor with 420 z ISdwt for 134 hours, and' Prince of Wales 320 z led-wt for eight days’ work are considered to indicate that dredging in that locality is going to be very good. Both tiro claims* mentioned* are now fairly well opened np, and* the ground in front prospects oven bettor than the returns. The Greenstone machines did not thru out quite up to expectations, hut they are now upon what appears to be good '.payable ground*. Greenstone Junction headed the list with 440 z lOdwt for 187 hours. * The ground is shallowing a, little, with *a better sample of wash. Greenstone Greek (30oz lOdwt for 113 hours). The ground is ia little broken. Greenstone Three-mile (30oz ltdwt for 103 hours). The ground shows very little alteration from last week. Mosquito put up a record last week, 60oz Bdwt for 128 hours. The /dredge got a clear run, free, of timber. Pactolus No. 2 (240 z for 124 hours). The dredge has now got a fair face on, hut the machine is still giving trouble. The smaller dredge had to he laid up for extensive repairs and had no wash-up. North Beach, working half' time on the outer and half on* the inner lead*, got 40oz lodwt for 110 hours. The machine will have to ho laid up soon for an extensive overhaul. Callaghan’s Creek (290 z odwt for 130 hours). The* ground is showing a distinct improvement. , ■ ■ ■ Red (ISoz lOdwt for the week). The dredge is working in 12ft of tailings, with four or five feet of wash below. The latter is very patchy and uncertain." .. Of the Buller section, Mokoia obtained 220 z 6dwt for the week, Welcome 290 z for 100 hours, and Buller Junction* lloz for 103 hours. They were all detrimentally affected by floods and 'stoppages, the last-mentioned dredge, in addition*, 'Striking a perfect network of timber. The company has made a final call* of 9d. Reeves’ Proprietary (17or for 113 hours). The wash is rough and very ..uneven in quality. Great _ Woodstock (lOoz lOdwt)., The pros.peqis oi this claim' are-none too* good, the results not nearly fulfilling the prospect tests. Shellbadj! (12oa ©dwt for 90 hours). The directors afe much dissatisfied with the;workisg. _ Maori Gully, dredging all the;week,against timber, got 4oz,lßdwt. Both Leviathans are looking very .had at present, and mud is the principal material in sight. . Notowm dredge worked very badly during the latter par*- of the week, and.'-wili have to be laid up for repairs. The return will he a good deal under the average. [Per Press Association.] „ - ■ WESTPORT, Sept. „28. The Westport Goal Company’s output last week was 5017 tons. The Admiralty collier Mercedes will sail for Hong-Kong, via Wellington, about Tuesday. The harbour conditions are not as favourable as on the occasion of the vessel’s last visit to the port. . . REEFTON, Sept. 28... Keep-it-Dark returns for September were: From the battery, 1420 z of gold from 940 tons; from cyanide, 102 oz, 'total 2440 z. GBEYMOUTH, Sept. 28. The coni exports fox the week were: Brunner Company 1307 tons lewt, 'Blackball Company 9546 tons 7owt. DREDGING RETURNS. [Per Press Association.] WELLINGTON*. Sept. 27. Dredging returns;—Wakamarina, Golden Point 17oz sdwt for S 3 hours, Koh-i-noor 420 z 14dwt for 134 hours. DUNEDIN, Sept, 23. Dredging Returns—Alexandra Lead 151 oz Sdwt, lEiarnsolough IL 88c-r 17dwb 16gr, Holy-, neux •‘Hydraulic 690 z ‘lodwt, Dunstan * Lead 6Soz, Rise and Shine 520 z ISdwt, Unity 490 z, Prince Arthur 40oz, 'Earnscleugh I. 320 z Ifidwt figr, 'Chicago "290 z 'idwt 12gr, New Royal Maori 28oz, Golden Bed 250 z *lodwt. Majestic 230 z 17dwt, Manuherikia ISoz 14dvA* 12gr, Gabriel 18oz Sdwt 6gr, Happy Valley 16oz 14dwt, Tuapeka 16oz Sdwt, Gentle Annie looz lOdwt, Success 15oz Idwt, Lawrence 12oz ISdwt, L*a Franchise lloz ifidwt, Kelly and Casey lloz 4dwt, Waikaka lOoz lodwt. DUNEDIN STOCK EXCHANGE^ [Per Press Association.] * DUNEDIN, Sept. 27. Sales- on the Dunedin Stock ’Exchange: Alexandra Lead: 15s and 15s 3d, Mystery Flat 21s 3d, New Roxburgh Jubilee (paid) 23s 6d. ALEXANDRA LEAD GOLD DREDGING COMPANY. The report for the year *n,ded August SI, to be presented by the directors at the fourth annual meeting of the Alexandra Lead Gold Dredging Company, is as follows;—The directors have much pleasure in submitting to shareholders the balance-sheet for the year ended August 31, 1902. The company took possession of the dredge in January of the present year, and started work early in February. The dredge, which is one of the largest ■and most powerful of all the gold dredges in the colony, has proved itself eminently fitted for the work for which it was designed.' No serious breakages have taken place up to the "present time. But this good fortune is probably owing to the unremitting care and attention of the dredgemaster, Mr Robert Ross, whoso services she directors highly appreciate. Mr Ross has been closely identified with the company since its formation, and, in the opinion of the directors, is deserving of . substantial recognition. Since starting operations work has been confined to the river and it is believed that the river portion of the claim will afford profitable employment for the next two years at least;- the beaches will he attacked afterwards. Shareholders will see by the balance-sheet that, at the end of the financial year, which terminated on August'3l, the whole of the preference share capital (£3521) was paid off, ■. and, in addition to that, the sum of £2623 3s was paidi away in a 3s dividend on the whole of the 17,521 shares which the company consists of. There was in hand at the same time a balance of £2348 7s 3d, and, with returns since received, a 4s dividend' has been* paid. The retiring directors are Messrs Kyle and Leijou, who are eligible and offer themselves for re-eleotion.

The auditors, Messrs Barr, Leary end Co. f also offer themselves for re-eleotion. . ‘ MINING NOTES. The dredgemaster of the First Chance dredge has taken advantage of the spell necessitated by the height of the river to proceed with . a number of repairs. The dredge is- now on promising ground, and good return* are expected when the river falls. Since it began work, the Nelson Creek Gold Dredging Company baa paid dividends amounting to 23s per-share. Of this amount, 19s was paid during the last financial year. The Rise and Shine Company has now reached the dividend-paying stage, and, at a meeting of directors on Thursday 'afternoon, a dividend of fid per share was declared. ;. The Secretary of the Greenstone Creek Gold Dredging Company reports a return of SOoz ICdwt ior 118 hours’ work. The Secretary of, the A 1 Gold-Dredging Com- - pa-ny reports a return of 230 z ISdwt for: 120 hours’ work. v - A meeting of shareholders in the.Hokitika ■River Gold Dredging Company will be, .’held on Wednesday evening, at eight o'clock, to consider proposals for the improvement of the company’s position. The Secretary" of the Red Jack’s Gold Dredging, Company reports a return, of 16oi lOdwt figr for 118 hours’ work. ,