THE GOLDFIELDS.

New Zealand Herald, Volume XXXIV, Issue 10405, 1 April 1897, Page 6

THE GOLDFIELDS.

(from OUR OWN CORRESPONDENT. ] , Thames, Wednesday, SaiREMARKEi.--Alburnia East, buyers 6d ; Argosy, sellers 7d; Broken Hill, sellers 9d; Club, sellers 3d; Grand Triple, sellers 3}d; 1 Kuranui-Caledonian, sellers 5s 3d; Karaka Queen, buyers 3Jd ; Mclsaacs, sellers 4d; • Moanataiari, buyers 10s 6d; Moanatairi 1 Ertended, sellers 4d; New Whan, sellers Bd, buyers 6d; Nonpariel, sellers lid, buyers 1 lOd; T'araru Creek, sellers 4s 6d ; Victoria, buyers 2s 9d; Royal, sellers Is 6d ; Kaiser (contributing), sellers sd; Komuta Queen, sellers 2s fid; T&irua, sellers 6£d; Moa, , sellers 4Jd. Juno (Kuaotunu).—A- trial crushing comprising about 20 tons of ore, from this mine, has arrived for treatment at the May Queen Extended Company's battery. Occidental.—The new prospecting crosscut at the low level of the North Star section is now in a distance of 75 feet from the drive upon the North Star reef. A comparatively easy class of sandstone country is being penetrated, but it is not altogether of a favourable naturo for finding goldbearing reefs in, being inclined to be somewhat mottled in character. A change in this respect, however, is likely to occur at any moment. Three shifts are now at work extending the crosscut, as the block of ground that was being atoped upon No. 1 leader is now exhausted. Coromandel, Wednesday. Progress Rock.— company is now confining itself to exploiting the reef from the Nq. 3 level, with a small staff of men, pending the erection of the battery. One peculiarity about the ore in this mine is worthy of special observation, viz., that that it has been found necessary to roast all the quartz prior to treatment. This has the effect of killing the mineral with which the gold appears to be coated, preventing the action of the silver. After being burned 97 per cent, of the gold is saved. There is a paddock of about 70 to 80 tons of quartz on hand. WAIHI SCHOOL OF MINES, [by telegraph— correspondent.] Paeroa, Wednesday. At a meeting of the Waihi School of Mines Committee the treasurer stated that notice had been received from the Mines Department that the subsidy of £193 17s 8d had been passed for payment, and that the sum had been paid into the credit of the School at the National Bank at Paeroa. The treasurer also mentioned that lie had received through Mr. Gilmour a cheque for £10 from the Hon. Thomas Russell, C.M.G., and had paid the same into the bank. MOUNT WAIHI G. M. CO. The half-yearly meeting of the shareholders of the above company, which was to have been held yesterday, lapsed, only the chairman of directors (Mr. Charles Grey) and five other shareholders being present. The directors in their report stated that finding as they advanced that the class of country did not improve, they did not think there was any chance of getting the reef. The only chance of getting it was by sinking; but, as that meant a considerable outlay for machinery, they hoped to bring about an amalgamation of properties lying between the Sir Julius »nd Martha claims, which would make a block of 600 acres. There would be a better chance of the property being taken up by an English syndicate. Endeavours had been made to float the property on the London market, but through various causes it had been found impossible to accomplish anything in the direction indicated. The balance-sheet showed receipts to have been £700, and expenditure £506 4s, leaving & credit balance in bank of £190 Bs.

BOAT HARBOUR G.M. CO. The half-yearly meeting ot the above company, which was to have b'jen held at Messrs. Cook and Gray's office yesterday, lapsed. The directors in their report stated that the shareholders, at the suggestion of the directors, had given authority to the latter to surrender the properties of the company at Boat Harbour, and to acquire the Happy Valley and Sweat Auburn special claims at Whangamata. The properties mentioned had been prospected, but the results not being satisfactory, the directors had suspended operations entirely in order to conserve the funds, with a view of obtaining a more satisfactory property should opportunity occur. The balance - shee showed receipts to have been £650, all! expenditure £283 lSi Bd, the principal item among the latter being wages, £128 17s. The balance at bauk was stated to be £366 Is 4d.

STERLING G.M. CO. The half-yearly meeting of the shareholders of the above company, which, was to have been held at Messrs. Cook and Gray's office yesterday, lapsed. The directors, in their report, stated that the most important work in hand was the driving of the low level, which had been carried 390 feet. A perceptible change had taken place in the country, which was now of a more blocky character. The indications were such that the directors confidently anticipated, that when the reef was cut at the low level the property would be one of the best in the district. The mine manager's report was also of a favourable nature. The receipts for the half year were stated to hare been £540 Os 4d; the principal items being tliird call (£354 3s 4d) and balance at bank (£lB3 Os 9d). The expenditure was £429 8s lid, the balance at bank being £110 lis Sd. SIR JULIUS G.M. CO. The half-yearly meeting of the shareholders of the above company, which was to have been held yesterday lapsed. It was stated that operations had been discontinued on the property, and that it was intended to amalgamate with the Mount Wailii Company. Owing to the stagnant condition of the home market nothing had been done re flotation. The receipts were £700, and the principal item of expenditure was £493 3s Uline account. The present credit balance in bank was £186 3s. WAITETE G.M. CO. The meeting of the Waitete Gold Mining Company, to have been held yesterday, lapsed. The directors' report stated that the option entered into with Messrs. Seavcr Brothers had been extended, and a large staff of men employed. It was encouraging to know that in the opinion of the holders of the option, the prospects of the mine were such as to lead them to expect that the results of their expenditure would eventually be satisfactory, The balance-sheet showed cash in bank and balance in hand to be £53 7s. EXPRESS G.M. CO. The Express Gold Mining Company's meeting, to have been held yesterday, lapsed. The cash in hand and in bank is shown to be £666 17s 2d. WAIHI G.M. CO. Developments of very considerable importance have taken place in the Waihi Gold Mining Company's mine. On the Martha lode in the eastern end of No. 2 level brown oxydised sandstone has made its appearance ana this is believed to be the proper footwali. Five general sample assays gave a general average of about £» 15s per ton. NORTHERN STOCK EXCHANGE. The following business was done yesterday by the aboveßunker's Hill, 3s Id ; Hit-or-Miss, Is 7d} Progress-Castle Rock, 9d, lOd, 11 Jd i Stanley, lljd; Scandinavian, 6d, 6id, 7d; Waihi Extended, 6d. DAY DAWN G.M. CO. The half-yearly meeting of the Day Dawn Gold Mining Company lapsed yesterday. The directors' report expressed confidence in the success of floating the proposed English company. The balance-sheet showed a credit balance of £115s lid. JEWEL G.M. CO. The first annual meeting of the Jewel Gold Miuing Company was held yesterday at the office of Mr. J, Barber. Mr. Spencer Von Sturmer, chairman of directors, presided. The directors' re'port stated the property was under offer to a London corporation, whose New Zealand representative had recently inspected the claim, and bis report, which the directors believed to be favourable, had been forwarded to London. A definite reply was expected in two months. The report and the balance-sheet were adopted. Mr. Julian was re-appointed director, and in place of Mr. Von Sturmer, resigned. Mr. G. W. Basley was appointed solicitor. Mr. M. Leers was re-appointed auditor. CARNAGE G.M. CO. The half-yearly general meeting of the Carnage Gold Mining Company wu held yesterday afternoon. Mr. N. A. Nathan presided. The balance • sheet showed a balance in hand for the half-year ending February 28 of £4714s Id, The receipts were £373 4s 2d and the expenditure £32a 10s Id. The report and balance-sheet were adopted. The chairman Mated that the directors had deemed it advisable under present circumstances to apply for protection. In the meantime they would take advantage of the resolution previously passed giving them power to dispose of the property. The negotiations that bad been opened- up for the ; disposal of the property bid fallen through.

BYRON BAY G.M. CO. The half-yearly general meeting of shareholders in the Byron Bay Gold Mining Company was held yesterday afternoon, Mr. Thomas Peacock presiding. The report stated that work had been vigorously carried on during the half-year. The directors had not lost sight of the desirability of bringing English capital to bear on the development of the property, and they had good reasons for believing that as soon as there is an improvement in the English market a satisfactory offer would be forthcoming. The balancesheet showed the receipts to be £795 8s and the expenditure £669 18a 3d, leaving a balance in bank of £125 9s 9d. The chairman, in moving the adoption of the report and balancesheet, said the directors had authorised the continuance of the works which had been going on. These operations should bring the works to a point of realisation in a short time —perhaps about a fortnight. They hoped to get rich gold at the expected junction of the reefs which should soon take place. The report and balance-sheet were adopted.

i ALERT G.M. CO.. i An extraordinary general meeting of shareholders in the Alert Gold Mining Company (No Liability) was held at the office of the , company, Hobson's Buildings, yesterday afternoon, Mr. Strathearu, chairman of directors, presidium. Resolutions were adopted empowering the directors to dispose of the company's property to the Gem of Tiki Gold Mining Company (No Liability) tor shares in the said company, and to voluntarily wind up the Alert Gold Mining Company. The legal manager, Mr, C. A. Stubbs, was appointed liquidator. GEM OF TIKI G.M. CO. An extraordinary general meeting of shareholders in the above company (no liability) was held at the office of the legal manager, Mr. C. A. Stubbs, Hobson's Buildings, yesterday afternoon. Mr. Arthur Wright, chairman of directors, presided, and on his motion resolutions were adopted empowering , the directors to increase the capital of the I company to £6000 by the issue of 60,000 new shares of Is each, and to acquire by purchase for shares in the company, or on such other terms and conditions as the board might think, the mining property of the Alert Gold Mining Company (no liability), which adjoins the Gem of Tiki. A 1 G.M, CO. The half-yearly meeting of shareholders in the A 1 Gold Mining Company (no liability) called for yesterday at the office of Mr. W. Clarke, Legal Chambers, lapsed for want of a quorum. The directors' report for the period in question showed that little work had been carried on, protection having been obtained for that time. Operations have, however, again been resumed, and a low level is now being put in near the Oriental boundary with a view to outting a reef which prospected very well on the surface; which should be on hand with about 50 feet of driving. The statement of accounts showed receipts £186 17s 3d and expenditure £132 18s Id, leaving a credit balance of £53 19s 2d. PROGRESS-CASTLE ROCK G.M. CO. The half-yearly meeting of shareholders in the Progress-Castle Rock Gold Mining Company (no liability) was held at the office of the legal manager, Mr. W. Clarke, Legal Chambers, yesterday, Colonel Burton, chairman of directors, presiding. The mine manager's report set forth the operations being carried on on the property, aud was of a most encouraging character. A recent test of sewt. of picked ore put through at the Thames School of Mines yielded 28oz Gdwcs 21grs of melted bullion, representing a total value of £75 lis Bd. The question of erecting a battery was at present under the consideration of the directors. The statement of accounts showed receipts £631 4s lOd, and expenditure £525 3s 2d, leaving a credit balance of £106 Is Bd. MOANATAIRI NORTH G.M. CO. The hall-yearly meeting of the above company, which was to have been held at Mr. W. H. Churton's office yesterday, lapsed for want of a quorum. The directors in their report stated that they had driven 011 the reef from the main crosscut, and that the reef was looking well. They had completed 170 feet of tho prospecting tunnels, and were now engaged in driving on the Durham reef. The country was looking better aud indications were favourable. The balance-sheet showed the expenditure for the year to have been £364 19s 9d, of which £233 12s fid had been spent in wages and £4014s 3d in mining requisites. The balance in hand was £35 53 Id.

AUCKLAND SHAREWARE.

There was a slight improvement yesterday. May Queens opened with buyers at 8s Ba, sellers asking 9s, but at last call sellers came down to 8s lOd with no business, buyers offering 8s fid. New AlbuVnias were steady at 4s 9d. Scandinavians were done at 7d.

Victorias were sold at 2s 10(1, and towards the close sellers were asking 3s. lonas were doue at Is 4d, and at last cull were Is 6d. Stanleys had buyers at Is. Wailii Extendeds were sold tor 6d and 7d, and towards the close had buyers at 6d, sellers wanting Id more. Waitekauris were quoted nt 82s, sellers. Silvertons showed a slight increase, 22s being asked. Woodßtocks were steady at late quotations, 445. Waitekauri Princes had % downward tendency. Progress-Castle Rook received a good deal of attention, Kales being recorded at9d and lid; later ou sellers asked Is and lOd with no buyers at tho latter price. Bunker's Hills were done at 3s 4d.

Huuraki Norths showed a slight dcoliue. Ponr-iu-Hands showed no alteration, Great Barrier Gold and Silvers remained at practically last quotations. ASSOCIATED STOCK AND MINING BROKERS. Sales in the following were, yesterday, reported by the above May Queen. 8s lOd; Scandinavian, 6d, CJd; Victoria, 2s 9d; Hit or Miss. Is 7dj Wailii Extended, 6Jd, 6J; Bunker's Hill, 33 Id; Progress Castle Rock, 91,(1, 9d; Morning Star, lid; Aotea, 9d, 8d ; lona, Is fid, Is 4}d; Zone, 7Jd, Bd. PAEROA WARDEN'S COURT. [by telegraph,— CORRESPONDENT.] Paekoa, Wednesday. The Wavden's Court sat again this morning, when the following applications were granted:— MISCELLANEOUS. J. Stackpole, jnn., four months' protection for Golden Reefs special claim; George Eraser, permission to work the Waitemata licensed holding, Waitekauri, with two men for four months; Express Gold Mining Company, six months' protection for water-race No, 164, Wailii; Sphinx Gold Mining Company (Limited), permission to work the Beatrice, Cleopatra, and Cleopatra's Needle special claims, Oivharoa, with oue man each for four mouths; C. B. Stone, permission to work Caverstuim special claim with two men for four months; T. E. Fitzgerald, Niinino Extended special claim; D. Allen, residence site, Komata; T. Hanley, residence site, Karangnhake. APPLICATIONS FOR FORFEITURE. Mining registrar v. C. B. Stone: For forfeiture of the Caversliam special claim for non-payment of rent. Mr. Keprick appeared for the defendant and stated that since the plaint had been lodged the rent had been paid. Fined 40s and costs Bs." Mining registrar v. T. Corbett • For forfeiture of the Silver Stream claim, for non-pay-ment ot rent. Fined 40s and costs 13s. Samuel Kennedy v. J. Hague Smith : For forfeiture of the Tenilba special claim. Mr. Porritt appeared for complainant. Forfeiture was decreed, and complainant declared first applicant. James Barrett v. R. W. Smith: For forfeiture of residence site at Komata. Decree for forfeiture granted, and complainant declared first applicant. Defendant was ordered to pay costs. DICKSON'S lead case. The plaint lodged by A. E, Singleton for forfeiture of Dickson's lead property at Owharoa, came on for hearing, but was dismissed on the grounds that all tho defendants were not joined in the suit. Costs were entered up against complainant. Fresh applications for forfeiture have now been lodged and these will come on for hearing at the next sitting of the Court. ACTION lOR WARES. M. Murphy v. G. Kayiies—Claim £2 for work done. Judgment for the amounts claimed with costs. TBI WAIHI CONSOLIDATED CASE. The action brought by A. Thomas and J. Mo Williams against C. McLean for recovery of shares in the \V aihi Consolidated special claim, at Waihi, was mentioned, but it was stated by counsel that an amicable settlement had been arrived at between the parties concerned, and the ease would be I withdrawn. THE CRESCENT AND ORIENT. An application was made for protection of the Crescent and Orient Company's mine, but was adjourned until next Courtday. Mr. McVeagh, who appeared for the Company, asserted that over £100 had been spent in the development of the mine, but the Warden asked for a statement as to how much of this £100 was actually spent on the ground, and how much went into the legal manager's office at Auckland. Counsel could not supply the, information. The case, as already stated; was adjourned. AN IMPORTANT ANNOUNCEMENT. Several applications' have recently come before the Warden, asking that certain properties might be forfeited, but as all the owners or known owners of the properties in question w«« not included is the suit, the

Warden refused to hear the cases. He then announced to the solicitors that unless all the parties were joined in the suit, he would not allow the cases to proceed.

GENERAL MINING ITEMS. The distribution of surplus assets in the Britannia Gold Mining Company took place yesterday, £1375 being divided, equal to 4id per share. Notwithstanding somewhat considerable trouble with surface water at the Cardigan, good progress is being made in sinking the shaft. ° Some valuable specimens from the various levels in the Waiiii Gold Mining Company's Mine have been presented by the company to the Chairman of Mines. The manager of the Sceptre Gold Mining Company yesterday telegraphed as uuder .— "Cut another rest last night. Giving good prospects." The following telegram was received by Messrs. Clarke and Fleming from the manager of the Progress-Castle Rook" Broke down reef yesterday, and selected about 701bs picked stone." In the despatch forwarded by Sir W. Macgregor to the Premier of this colony, and warning diggers against going to New Guinea, the Lieutenant-Governor says that only youug and healthy men should try prospecting, while it is impossible for men to be so engaged unless they have means at their disposal. For the outfit, a man would require from £50 to £100.

AnOtago paper says:-" The larger area and greater regularity of reefing country in the Auckland district may at present hold the attention of the capitalist, but Otago's wealth lies in the practically inexhaustible stores of our alluvial resources; and it is only necessary that the agents of foreign mining companies now among us should be allowed to convince themselves of this fact in order ta ensure a brilliant future for the mining industry in this province." A sale of forfeited shares in the King Solomon Gold Mining Company is advertised for April 14. A sale of forfeited shafes in the Mangakara United Gold Mining Company takes place on April 14. MINE MANAGERS' REPORTS. I Sunlight (Thames, March 27) —Started to drive on lode formation. Lode in the face is becoming more defined, and looking better, it being heavily charged with silica, with a little bright metal showing. Imperial (Karangahake, March 27). — South drive is entering upon a firmer class of country, and the reef is of much better quality. The north drive continues to traverse a good class of country. A uew reef was discovered on the surface on the United section; fair dish prospects can be obtained; will have samples assayed. Alpha (Waitekauri, March 29).—Crosscut to intersect largo reef has been extended 18 feet during past week. Rainbow (Waitekauri, March 29).—Drive on cross lode has been advanoed 10 feet, and reef is geting larger. Lode prospects well. Exchange (Waitekauri, March 29).—Contractors in Northern crosscut are making good progress. Have driven 20 feet for week, and in lirst-elass country. Foktcna No. 2 (Cabbaje Bay, March 27). Crosscut to intersect No. 1 reef has been further extended 136 feet. Some nice rock from leaders in the face is coming to hand. Have obtained prospects by pounding. Leaders are carrying plenty ot minerals, and several ironstone seams are running parallel with same. A.J.C. (Kennedy's Bay, March 26).—Sixteen feet driven on the New Find leader for week. Stone broken out still continues to improve. Silica on each wall gives good dish prospects. South Cross (Waitekauri, March 27).— Commencement has been made with the low level. The excavation at mouth of level is finished.

Bio Reef (Thames, March 27).—1u fortyseven feet at creek level. It 13 solid quartz for whole distance. No sign of the wall and reef is apparently very large. NewZealander (Waitekauri, March 27). —Little change in No. 1 reef, the country being of the best character, aud reef carrying excellent minerals for gold. Victoria (Thames, March 29).— Driving east and west on the leader is still proceeding with encouraging results. Three stopes arc uow in progress, and the ore contiuues to show a little gold at each breaking down. Crushing will probably be commenced on Thursday. Waitekauri Monarch! Waitekauri, March 29).—Great improvement in reef this last few days. Pounded some of the stone and got a slight trace of fine gold. No. 1 south level has been advanced four feet. Sandstone is of a hard nature, being interlaced with quartz stringers. Should intersect reef in another ten feet.

Rauiiel (Kennedy's Bay, March 22). —The level: There is a strong flow of water in the face, which I think is'coining from a goodsized reef at no great distance from us. We have been driving through large blocks of nice-looking quartz nil the last week, which appears to have slipped bodily from tne solid country, which we have not yet come to, but expect to come on it at any time now, OlliXßMUKlST.NDlCATEflVaiteknuri, March 27).—Elliot tunnel: Several quartz stringers have been met with, and the class of country is all that can lie wished for.

Exoklsior (Karaugahako, March 27).— Level has been extended 1714 feet. Still crosscuttiug across reef, which is split up into ribs of quartz. A rubbly leader between two ribs of quartz was met with, and by washing obtained a fine tail of gold in the dish.

GERMAXic(Karangahake, March 29).— Low level crosscut has been extended ?2G feet. Country carrying seams of oxide of iron and veins of quartz. Pandora (Owharoa, March 27).—Advancement of No. 3 level is being steadily carried ou. Country still continues the same class of sandstone, and as tho level advances the countryatill improves. Total distance driven, 178 feet. No. 4 level: We arc still driving through an improved class of sandstone intermixed with iron veins. Distance driven, 67 feet.

Sheridan (Tapu, March 29).—Country is much firmer in character, and progress has not been so good; 11 feet has beon driven here for week.

Kino of Waihi (Waihi, March 27).—Surface drive has been extended 20 feet further. There is nice brown sandstone in the face, but do sign of reef. Jocklyn (Waikoromiko, March 29).—We hare driven another 10 feet on the lower level of No. 4 reef, and are getting into splendid class of country, which is intersected with numerous strong mineral veins of a good quality. The reef is still keeping its average thickness, and has all appearance of being not far from good gold, Nice pro' spects din be got by pounding. Hinton (Coroinandel, March 30).—Have extended No. 2 drive 105 ft, and have started drive from creek on small leader. Splendid class of country runs with leader, and should carry gold! j New Monster (March 31).-Have driven I eight feet further. The leader shows signs of improving. Where we crossed the 4ft. reef quartz shows a few colours of gold, which can be seen with the naked eye. Boss (Thames, March 31).—N0. 2 drive is now in 10$ feet. No. 3 advanced 41 feet; the ground here is getting more solid, but is improving in appearance. , Silas (Thames, March 27).-Good progress is being made with the extension of the drive to intersect the reef. A parcel of stone taken from the outcrop assayed £117s per ton. Preparing to start driving to cut reef showing further down the bill. This reef carries splendid mineral, and should improve. Morning Star (Kennedy's Bay),— 1 reef: Lo,v level is new in 70ft and indications continue to be favourable. No. 4 reef: This has been driven through and proves to be i good body of stone rather more than 6ft thick. Am now extending crosscut further and intend openiug the reef. Great Northern (Waihi).—Face in low level has advanced through the reef formation, which has not altered materially. Am taking a turn to the west to lessen distance to other wall. Kennedy (Kennedy's Bay).—Work at tunnel has been suspended and men are now at work above the creek, which engineer assumes is on the line of Bay View and West Derby Reefs. Argosy (Thames).— on No. 1 reef is progressing favourably. The country is very hard, and a few colours of gold have been seen.

Matarangi (Matarangi, March 27). South drive: Reef driven 20 feet; average size, four feet. Fair prospects of fine gold by mortar and dish tests. Expect better prospccts in this drive. North drive has been drivel) eight feet, but ground has been hard and reef pinched. Mangakara United (Waitekauri, March 27). —Eight feet has been driven on No. 5 reef Country is much firmer. Reef still carries a little gold. A further distance of six feet has been driven on No. 6 reef. In northern: In this section have discovered another reef on the western boundary of the Mangakara. It is a kindly-looking stone ooi foot thick.