THE GOLDFIELDS.

New Zealand Herald, Volume XXXIII, Issue 10036, 24 January 1896, Page 6

THE GOLDFIELDS.

[bi telegraph—own correspondent.] Thames, Thursday. Sharemarket.—Alburnia, buyers 4s lOd; Cambria, sales Is, sellers Is 3d; Moanataiari, sellers 5s 9d; May Queen, sellers 8s 6d; Victoria, sellers 3s 3d ; Bunker's Hill, sellers 6s; Monowai, sellers 4s; Moanataiari Extonded, sellers 9d; Moanataiari North, sellers 9d; Puriri, sellers 9d; Sheridau, Is Id; Argosy, sellers 6d; Puru Consolidated, sellers la Id.

Cardigan.—Splendid progress continues to be made with the extension of the south crosscut into the above company's ground. The country being passed through continues of an excellont description for gold. A lode may possibly be met with at any timo. Considerable interest is being manifested in this development owing to the level ponetrating an untried section of country. Developments at No. 1 level continue to reveal high grade ore, and a parcel of good picked stone has been obtained. .

TALISMAN G.M. CO. For some time past the Talisman Gold Mining Company, Karangahake, has been under offer in England through Mr. Byles. The company, pending the possible completion of this arrangement, aid not start the battery which they had erected, as, had the purchase been closed, they would be liable for all expenses, and have no remedy against the purchasing syndicate, who would simply take over all the property and plant. A meeting of direotors of the company was held yesterday, to consider the position, aud Mr. H. T. Gorrie, chairman, presided. After he had explained the position, it was agreed that the extension of time asked for by the agents be refused on the terms asked, and that the company start operations on their own account, It was also decided to call for applications for a competent and qualified battery manager. The mine manager, Mr. W. Golds worthy, was authorised to call for tenders for 2000 tons of firewood and other necessaries, and to call on Mr. Adams, agent and engineer for the contractors, to see that the plant was placed in order, the contractors having to maintain the plant in an eiheient state for three months after starting. The meeting was then adjourned until the 31st instant, when applications for the position of battery manager will be received and dealt with.

WOODSTOCK UNITED G.M. CO. A meeting of shareholders in the Woodstock United Company, Karangahake, whose property has been sold to an English company, was held yesterday in the large meeting room of Mr. D. Q. MacDonnell's office, Insurance Buildings, to take measures for winding up the old company. There was a large attendance, and Mr. W. Gorrie, chairman of directors, occupied the chair. The advertisement having been read by the secretary, Mr. D. G. MaoDonnell. The Chairman explained that the winding up of the old company was a necessary proceeding, in consequence of the sale of the property to the Woodstock Company in England. For that purpose he would move " That the company be wound up voluntarily," Mr. James Reid seconded the resolution. Mr.S.T. George asked when thescripwould be issued. Six months ago he had bought Woodstock shares here and sold them in London, but the purchasers had not got delivery vat. This was a very serious matter to shareholders, and he asked whether the arrangements with regard to transfers and registration would be ready before tho mail after next left for Euglaud ? The Chairman said he thought all arrangements would be completed within three weeks, and would therefore be in ample time for the mail following the next. Mr. George expressed himself satisfied with the explanation. Mr. Hull asked if the shares would be subject to the same embargo in London as the Waitekauri share— an embargo of three months before they could be transferred ? If so, the value of the shares would be depreciated, as colonial shareholders could not deal with their shares in London, except at a loss and disadvantage. The Chairman said he knew of no such embargo. There would be a register in London and in New Zealand.

Mr. George asked if Mr. Rathbone and Mr. Byles had not stated that they were to have a free hand in New Zealand? The Chairman : Yes. That is so. Mr. Wilson said that was the clear understanding when the property was sold. The motion for the voluntary liquidation of the oompany was then put and carried unanimously, and on the motion of the chairman, seconded by Mr. Reid, Mr. D. G. Macdonuell was appointed liquidator. This concluded the business.

As will be seen in another column the register of shares will be finally closed on Thursday, February 6, and an extraordinary meeting of shareholders will be held on February 10, for the purpose of voluntarily winding up the company.

AUCKLAND SHAREMARKET. There was a little hotter business done yesterday in the Auckland Sharemurket. In investing stocks there were buyers in River Plates at 5s 9d, in Auckland Gas (old) at £12 8s; in Auckland Gas (new) at £6 is, with no sellers in the two last named. Northern Steamships were done at 6s, with a remaining demand at 5s 9d. New Zealand Drugs (£1) were also asked for at 20s 6d, but there were no sellers. There were a few more sales in mining stocks than on the previous day. New Alburnias were fairly steady, and there were sales at 4s lOd and 4s lid. May Queens were done at Bs, with further buyers at 7s 3d. Victorias held their own. Cardigans hardened, there being purchasers at Is sd, with further buyers at that. Queen of Waihis were bought at 2s 6d aud 2s 7d. There were buyers of Crowns at 265: sales were effected in WaihiSilvertons at 58a, aud in Woodstocks at 255, with yet buyers in the latter at 24s 6tl. Grace Darlings and Talismans maintained even rates. Very little business was done in Kuaotunu stocks and in Coromandels, Hauraki No. 2's and Bunker's Hills saw the only recorded transactions.

FREE STOCK EXCHANGE. There were sales yesterday at the Free Exchange in Balfours at 4d, in Bunker's Hills at 5s 6(1, and two fair-sized parcels of New Tokateas changed hands at la 6d and Is 6!, d. There were buyers as follow Sheridan, 8d ; Victoria, 2a lid ; Scandinavian, 8d; Chines, 4d ; Grace Darling, Is 3d ; Nil Desperandum, otl ; Central, 6d; Waihi Consols, Is; Waitekauri No. 4, Is; Byron Bay, lOd; Aorere, lid; Kapai-Vermont, 83 3d; Midas, Is; Aurora. Sid: Bunker's Hill, 5s New Golconda, Is ; New Tokatea, Is sd ; Four in Hand, lOd.

GENERAL MINING ITEMS. The legal manager of the Cardigan (Mr. McDonald Scott) states that the preliminary driving having now been accomplished in the drive opposite Hogan's shaft, the drive has been directed to clear the Queen of Beauty boundary, and to intersect at right angles everything on the Cardigan gTound.' The rock borer which accomplished 41 feet last week across the grain of the country, should, now the work is with the grain, do more than that. As regards the lodes, Mr. McLean, one of the directors, considers that in a matter of 80 feet driving, the first lode should be intersected.

Our Thames correspondent writes:— machine for the more economical saving of gold, by name the "Gold King Amalgamator" arrived here on Wednesday, to the order of the Wow Moanataiari Gold Mining Company. As this is the first one to be used here, its results will be closely watched by all interested in mining. As will be seen by our report of the meeting of the Woodstock United shareholders, it has been formally decided to wind tip the company voluntarily, the property having been sold to an English company. The chairman said he thought all arrangements would be completed within three weeks. The allocation of shares in the English company will therefore take place next month and not next week as erroneously stated. * A general meeting of the Zoalandia Gold Mining Company be held at. the New Zealand Insurance Buildings;- the 17th prox., at 3p.m. v..:.-,','-.''" A call of Id per share has been made in the Woodstock North Gold Mining Company upon all shares except those fully paid up, and call is now payable. ~ A general meeting of the Hauraki Extended Gold Mining Company will be held at the New Zealand Insurance Buildings, on the 17th prox., at 2.30 p.m.

' Golden Point (Thames, January 20).— Resumed sinking the main shaft Have sunk a further depth of 14 feet, making 70 feet in all. The country is hard and tight, but am in hopes of a change shortly. Chblt (Waitekauri, January 19).— so far been successful in picking up a nicelooking lode about 10 inches in thickness, and also another loose body of quartz, which I picked up by means of trenching. Have now started a tunnel, which I anticipate will intersect both the 10-inch lode and the big rubbly formation alluded to. The 10-inch lode should be met with in about 50 feet of driving, and the. big lode should be intersected in about a' distance of 70 feet further. The sandstone at this point is of a first-class description for gold-bearing lodes, and the quartz is of a kindly natnre, Poro Consolidated (Thames, January 18). —Have extended the south drive upon the course of tho Rimu reef in the Russell section a further distance of 14 feet. Owing to the hangiugwall country abutting on to the lode coming in hard, it had the effect of pinching the lode in, but as the level was advanced I discovered that the lodn heaved into the foot wall about four feet. Upon stripping and breaking into it we found that it had again assumed its usual dimensions, viz,, three feet; it is still showing strong gold, with abundance of silica, and the very best description of minerals thickly interspersed through the lode. Have not broken much of the lode since itsdisplacement,butwehopetnh,aveaconsiderablestretch to break during the coming week. In the Uranus section i Tho drive on the new reef has been extended a further distance of six feet; _ the lode continues its usual size and carries a little gold, but it cannot be classed as high grade ore. VVaihi Extended (Waihi, January 20).— The north crosscut has been advanced 20 feet in tho past week. There is a slight change in the present face. There is a little sandstone showing, and I think we shall lose the pug before long. Maritana (Owharoa, January 18). — A distance of 19 feet has been driven further in No._ 1 drive, making a total of 60 feet. A noticeable improvement has taken place in the nature of the country. The ground in the face is asoft sandstone of a kindly nature, with quartz veins crossing the drive. In the No. 2 prospecting drive a distance of 20 feet further has been driven, makiug a total of 35 feet.

Stanley (Karangahake, January 20).— Have started the level about 30 feet on the footwall side of the outcrop, as I found it was not possible to start the drive directly on the course of the reef, on account ot the broken nature of the ground and the position of the trestling over the Crown Company's tramway; by doing this the reef will be intersected in the solid formation, and will require less driving than if the whole of the distance had been driven on the reef,

Excelsior (Karangahake, January 20).— Have kept the men engaged trenching on the surface, south of the drive, for the purpose of locating tho reef, There is plenty of goldbearing quartz to be found, but the surface is too deep for trenching to advantage, therefore I have decided to alter the course of the tunnel and drive west towards the United boundary. Talisman Extended (Karangahake, January 'J)).— The low level on No. 4 reef is now in a distance of 264 feet, seven feet having been driven for the past week. On Thursday a break was_ met with, and as the lode has not improved in size since passing through it, have stopped this drive for the present, and started to drive a crosscut into the footwall, iu case the main portion of the reef may be in there. Treasure section : A winze has been suuk seven feet for tha past week on a reef formatiou about four feet in thickness in the No. 1 level. Some of the stone gives spledid prospeots, aud some of it ouly a few colours, To crush it wholesale in a common battery it would go from 5 to 7dwt per ton.