MINING NEWS

North Otago Times, Volume C, Issue 13223, 19 February 1915, Page 8

MINING NEWS

DUNEDIN, Feb; 17,'" I Owing to the fact that the race-for! the Dunedin Cup was being run yes-; torday, there were no sittings of the local Stock Exchange, :'.';, The manager of the Roaring Meg Sluicing Co. reports that he has now; repaired the pipe lino and is pumping. out tho paddock preparatory to resuming work. •" . ■ The Rise and Shine No. L dredge made 6ft ahead last week. The cut, which was f>ooft wide, averaged 40ft in depth, and the clay and sandstone' bottom carried good prospects. The No. 2 dredge was expected to recommence work yesterday. The master of the New Golden.Run dredge advises that the first motion shaft broke on Monday week, and as he did not complete repairing it until Thursday there was no wash-tip last week.

The -goldlield of Messrs Jacobseu and Driscoll at Fenian promises well (says the Karamea correspondent of the Westport Times). A number of men are now employed on it, and some assays showed £l6O to the ton. Several other parties and syndicates have obtained options at the same place. ;'

A dividend, the forty-first, of ls'9d per share and a bonus of .'ld has beeu declared by the Talisman Consolidated Gold Mining Company. Tho payment will absorb .£34,500, and will bring the total dividends and bonuses paid since reconstruction to £1,000,034 7s (id. The secretary of the Nokomni, Hydraulic Sluicing Company reports that No. J had the top material stripped to a depth of 20 feet. This was finished on Friday, and sluicing has been resumed. There were a good many stones in this paddock. Good progress is heing made at No. 2 with tho sluicing, The latest.Gazette to hand contains the annual statement of the Star of the East Gold Mining Company, which is presumed by the Cromwell Argus to be one operating on tho Carrick Range.. The date of registration is given as February, 1013. Capital shows:—No 1 minal capital, £30,000; amount of capital subscribed, £30,000; amount of capital actually paid up in cash, £3oo;.paid up value of scrip given to shareholders, £3G,000; paid up value of scrip.given to shareholders, on which no cash has been paid, £3OO. The capital is divitled into 30,000 shares of £1 each; called up' £l, paid up£l; The number' of •; shareholders .tit;, time '.of" regis-,' tration was seven, anil tho.present number 20. Three men are employed by the company. The quantity of gold and silver produced since last state; ment was 104oz Bdwt 3gr, value .-£307 ISs 2d, while the total quantity' produced since registration is 18807.' Idwt, value '£ols9lßs Bd. The sum of £1487 ,15s 4d was expended in carrying'on operations since last statement with a total expenditure since registration, of £2884 0s lOd. Cash in bank amounts to £27 3s lOd, with debts owing by the company £O2 lis, ROSS GOLDFIELDR GREYMOUTII, Feb. 17. The unwatcring of the Ross GoldfieWs mine is proceeding satisfactorily, and llin water is now down to near the sixth level. The wet weather which has been experienced recently has somewhat delayed the undertaking, although the plant is quite adequate to'deal with the increased volume of water consequent on the substantial extension'of the drives during the past six months, The management are continent that they will be able to recommence mining operations about the end of the month, when a fairly large number of men frill be employed, underground.