PROPOSED PUBLIC REDUCTION WORKS.

New Zealand Herald, Volume XXXIII, Issue 10032, 20 January 1896, Page 5

PROPOSED PUBLIC REDUCTION WORKS.

A suggestion has been made that a public reduction works, to be reached by central tramways, and fed by branch tramways, should "bo established. The question has been brought forward by Messrs. Hutohinson *nd Hull, who have taken the first preliminary steps by issuing a circular, expressing the opinion that it would bo dosirablo at least to meet and discuss the matter. The circular states that the projected erection by the Waihi Company of a powerful plant at Oivlmroa, which could be largely extended to meet growing requirement, and which could, and favourably would, in time, be conneoted by trams with all tho surrounding districts, would, in the opinion ot the gentlemen issuing the circular, amply provide for tho wants of the Upper Thames, which have not efficient plants of their own. Kuaotunu and its neighbourhood would be the districts, which, for the present, would appear to have the most need of public plants. As a basis for discission a 30 stamp battery here is suggested, and in course of time operations might be extended. AUCKLAND SHAREMARKET. Tho volume of business done on the Auckland Sharemarket on Saturday was not great. Northern Steamships were firm. Mining flocks were not in great demand. Business Tias done in Kuranuis at 3s, with sellers at fa 3d. Byron Bays wore done at Is, with farther buyers. VVaihi-Silvortons hardeued A little, with salos at 59a, but at tho close buyers were 58s. Woodstocks were inquired for at 21s 6(1, and Waitekauris atß2a. Talismans changed hands at 8s 8d and 8s 6d, with more buyers at the latter. Kuaotunu stookß were weaker. There was inquiry for Coromandel stocks. Bunker's changed hands at 0s 3d. with more buyers at 6s Id. Pour-in-Hands were sold at Is 2d, with still a demand at Is Id. Hauraki No. 2's and Welcome Finds wore also asked for. FREE STOCK EXCHANGE. At public call at the Free Exchange on Saturday, the following sales wore effected !— Byron Bay, Is; Auroa, 3id; Bunker's Hill, Gs 4d; Four-in-Hand, Is ljd. There were also buyers at the following rates :—Victoria, 28 6d; Puru Consolidated, lid; Clinics, sd; Scandinavian, 7d ; St. Patrick, 6d ; Grace Darling, is 3d; Central. Od: Waihi Consols, Is; Waihi-bilvortou, 503; Waihi Extended, 3d; Young Now Zealand, Is; Byron Bay, Is ; Teutonio, ss; Queen of Waihi, 2s 7d; Midas, lOd; Aurora, 3Jd; Bunker's Hill, 6s4d; Hauraki No. 2, Is; Pride of Tokatea, lid; Welcome Find, 3s; Four-in-Hand, Is; Progress-Castle Rock, sa. MINE MANAGERS' REPORTS. in-Hand (Coromandel).—The manager telegraphed on Saturday" 251b picked stone Bitico the holidays; 4lb of stone got yesterday will run 2oz to the lb." Hauhaki North (Coromandel). — The following telegram was received ou Saturday " About 201b of very fair picked stone last night." Victoria -(Thames).—Cut reef at No. 1 level; showing a little gold. '"'■w ■ ' t GENERAL MINING ITEMS. A general meeting of the Golden Point G.M.Co., will be held at Hobson's Buildings, on the 27th January, at 2.15 p.m. An extraordinary meeting of the Rob Roy G.M. Co. will be hold at the New Zealand Insurance 'Buildings, on the 4th prox., at 3 p.m. p. A general meeting of the Hikurangi Coal Company will bo held at tho New Zealand insurance Buildings on the 28th inst., at 2.30 p.m. ' The share register mil Closed from the22ad to the2ochinst, > < - '-'-'J

' AUSTRALIAN MINING. ' ;• Press -Electric Telegraph.-Copyright. Sidney, January 18. The improved tono in the silver market noted last week was well sustained. Good business was done at improved prices,: with ft strong advance on Thursday following the rise in silver in London, but. afterwards eased slightly and closed somewhat irregular. Broken Hill Proprietary were taken afa 59a 3d. The other leading Broken Hills show an equal improvement, gold participated in the improvement and there was a good turn over in West Australian lines at higher figures. Kapai-Ver-mont sales, 9s and 8s 6d, closing sellers 103, buyers 8s 6d. Investment in stocks continue to steadily improve, and there is active demand and a good advance. Bank shares are attracting special attention. Melbourne, January 18. The market closed firm throughout the woek. Both in silver and gold shares are in active demand at improved prices. Investment in stocks is well supported. A splendid reef struck in the Fernhill mine near Grant. The stone from different parts of the reef returned from 20 to 30 ounces to the ton. Further rich returns have also been obtained from the Omeo district. The Highland Chief Company crushed 36 tons for over 300 ounces of gold, while a party of prospectors at One-treo Hill crushed 251bs of atone for nearly £900 worth of gold. Another parcel of from ten to twelve pounds is estimated to yield close upon a hundred ounces. The reef varies from 10 to 18 inches, and has been traced a long distance. Adelaide, January 18. Business in the mining market was unusually large this week, and there has been a very largo turnover. Higher prices rango all round, West Australian stocks claiming a large share of attention. In Broken Hill Proprietary shares there have beon large salsa, and the final transaction was made at 625, Perth, January 18. The gold yield for the colony last year was 231,0000z being an increase of 31,6000z on the previous year. The outlook has improved greatly during the week owing to the rain, but a much more copious tall is required to properly break up the drought and give sufficient water for crushing purposes. The feeling on the goldfields runs nigh against the influx of Chinese, two of whom, having arrived by the Kanaowna under engagement to a hotelkeeper, were forced by the miners to loavo the township.