THE GOLDFIELDS.

New Zealand Herald, Volume XXXIV, Issue 10409, 6 April 1897, Page 6

THE GOLDFIELDS.

AUCKLAND SHAREMARKET. There was better business yesterday on 'Change. New Zealand Insurance changed hands at 67s 6d. with further buyers at 675. National Insurances were also done at 18s with still offers at 17s Sd. New Zealand Shipping were wanted. Alburnia Easts weakened a point early in the day but came back again, There were transactions in May Queens at 89 6d, and in Nonpareils at 9Jd. Barrier Island stocks were on the whole weaker. Talismans saw buyers at los Grl in the early part) of the day but they dropped 6d later on, Waihi Extendeds were freely dealt in up to 10d but then declined. Bunker's Hills were done at from 2s 10d to 2s 6d, closing with sellers at 2a 8d and buyers 2s sd.

NORTHERN STOCK EXCHANGE. The following business was done yesterday by the above:—Bunker's Hill, 2s lOdj May Queen Extended, 7d; Maoriland, 6dj Occidental, ljd, 2d ; Progress Castle Rock, 74d; Stanley, lid; Victoria, 2a 8d; Waihi Extended, 9d, 9Jd.

ASSOCIATED STOCK AND MINING BROKERS.

The following sales were recorded, yesterday, by the above: -Alburnia East, 7Jd: Stanley, Is; Waihi Dredging, 2sd; Waihi Extended, 9d, 9Jd, 10d, 9Jd; Hauraki North (paid up), 39 id ; Maoriland, 5Jd.

NEW ALBURNIA.

THE MONTHS' CRUSHING. During the past mouth at the New Alburnia, 3W tons of the usual low grade ore obtained in the course of development work were treated for a return of ioOJoz bullion, valued at £396. Last month 215 tons yielded 107oz, valued at £277 6j.

MAY QUEEN G.M. CO. The date for pooling the shares in the above company having expired, the transfer of scrip to tho May Queen Gold, Mining Company (Limited) (the old company) may now be expected to be on its way from London to Auckland. To ensure such being the ease the solicitors to the company have cabled that the receipt of the transfer is awaited.

COROMANDEL FREEHOLD, A cablegram has been received from Mr, Marshall, who has negotiations for the sale of the above property in hand. The cablegram, however, became so changed in transmission that a repeat has been required. Nothing definite can therefore be known until the correct message is to hand.

I'LL TRY G.M. CO. The half-yearly meeting of the I'll Try Gold Mining Company was held at tho oflice of the manner, Mr. G. B. Hutton yesterday, Mr. Austin Walsh presided. Tho affaire of the company were laid before the shareholders by the chairman, who said that the directors wished to hear from them whether they were willing to hold on to what was undoubtedly a promising property till times improved. The property was surrounded by claims on which gold had been found, and_ he thought there was little doubt that if capital could be obtained to sink a shaft excellent results would reward them. The shareholders approved of the action of the directors in buying in forfeited shares for the company and requested them to make a call to provide further funds. Messrs. G. F. Longdill and C. C. Fleming were elected directors to till vacancies.

WAITAIA G.M. CO. A meeting of the Waitaia Geld Mining Company was held yesterday afternoon, Mr. R. 0. ioung presiding. The meeting had been wiled for the purpose of confirming a resolution passed on December 25, " That the company be wound up voluntarily, and that Mr. C. G. Geutil be appoiuted liquidator." The Chairman said they would have to adjourn the meeting, They had hoped that Mr. Shaw, the chairman of the new company, would have arrived in time for the meeting, but it was now probable that he would not cpme before the outgoing San Francisco boat from Sydnoy. He would thereforo move that tho meeting stand adjourned till May 3. This was carried. The Chairman mentioned that the scrip would be issued as soon as the chairman of the new company had arranged for a local oilice.

HAURAKI NORTH G. M. CO. An unofficially-called meeting of shareholders in the HautaWi North - Gold Mining Company was held yesterday afternoon iu Messrs, Baker Brothers' large room. The attendance was considerable, amongst those present being Mr. Robinson, tue patentee of the plant used for the crushinc! of the 100 tons recently put through, Mr, J. W, Taylor was elected to fill the chair, and said the meeting had been called by a shareholder, for the purpose of considering the position of tho company, and whether the plant at present in use should be retained. An hour's conversation took place, a very considerable portion of the time being occupied by Mr. Robinson in answering questions and explaining mutters. As to auy supposed delay, he pointed out that water had had to be pumped, aud that it frequently occurred that when large quantities of ore were rushed through a battery gold was lost. This was borne out by 33 years' experience. Iu this instance no free gold had been left in the tailing. Eventually a resolution was passed requesting the directors to call a general meeting of shareholders, the decision as to what plant should be finally adopted to be left to tho said shareholders. The resolution, if agreed to, would give shareholders also the power to deal with "any other businees" determined upon.

BOMBAY PROSPECTING SYNDICATE. A meeting of the above syndicate was held on March 31 to consider a report from the Thames School of Mines upon a ton of ore sent to that place for treatment. A large number of shareholders were present. The report stated that the ton was dry crushed, and assayed at the rate of £1 fa per ton, and that of this 19s lOd worth was saved by treatment at the school. The bullion forwarded by the director of the School of Mines was handed round to the shareholders as being the first from the district. The report further stated that the reef from whioh the ore was taken was well worth following up, and that most of the gold conuiued in it could be saved, as the ore was a free milling one, and the gold was coarse. The shareholder! present thought the report was of a very encouraging nature. The prospector of the syndicate reported chat there was a very large quantity of quartz in the syndicate's property. In driving three reefs were out in a distance of 170 feet, one 18 inches, the next 7 feet, and the next 14 feet. Besides these, by trenching a reef from 20 to 30 feet wide had been unearthed. Although the syndicate has already a considerable sum upon the property, it was resolved to issue another 50 shares, to still further prospect the ground. THAMES SHAREJIARKET. [by TELEGRAPH.— OWN correspondent.] Thames, Monday. Albnrnia East, buyers 6Jd; Argosy, sellers 7d; Broken Hill, sellers 8d: Club, sellers 3d; Conservative, sellers ad; Darwin (contributing), sellers 5d ; Grand Triple, sellers 3d; Kuranui-Caledonian. sellers 53 3d; Karaka Queen, sellers sd; King Solomon, sales 2d, sellers 2d; Kuranui, sellers Is sd; Mata Beefs, sellers 4d; Mclsa;ics, sellers 4d; Moanataiari, sellers lie; New Wljau, sellers 7jjd, buyers 6d; Nonpareil, sellers lid, Occidental, sellers 3d, buyers ljrt; Tamil Creek, sellers 4s, buyers 3s; Temple Bar, sellers 4d; Victoria, buyers, 23 6il; Royal, sellers Is 64; Kaiser (contributing), sellers sd; Komata Queen, sellers 2s 6d: Welcome Find, sellers 2a 6d; Albert, sellers Is 9(1; Moa, sellers 4sd. GENERAL MINING ITEMS. The special general meeting of shareholders in the Gladys Gold Mining Company called for yesterday forenoon at the office of the manager (Mr. W. H. Chnrton), .lapsed for want of a quorum, and consequently stands adjourned Until Monday next, when it will be held in the afternoon at 2.30 o'clock. There were sufficient shareholders present yesterday, but not sufficient proxies to make up the necessary share representation, there being great difficulty in getting shareholders to forward proxies. Our Coromandel correspondent writes that an option has been taken by Mr. Horaibrooke over the Killurney special claim., A plan of the workings of the Marco Polo (Whangamattt) has been received by Mr. R. Hood, the legal manager, showing the distance to be driven to cut the Goldwater reof to be about 30ft. The mine manager states that in the crosscut to intersect this reef' the country is of a rather light brown sandstone. A small leader, about Gin, has been cut, but it is rather broken. On making a survey of the reef in the adjoining claim, the Prince Charlie, the reef was bearing away to the eastward about 12 degrees more than when the crosscut was commenced. ■■■■*' Art assay of stone from the Martha Extended, made by Mr. Shirreff Galbraith, »re a return at the rate of £119s 9d per ton, ,•'. A bag of stone from the Harp of Tan has been received by Mr. J. H. Harrison for the purposes of assay., J •,* "' v, The special meeting of the Gladys Gold Mining Company bat b««a adjourned to April 12. ■ '~■'■ r.

A sale of forfeited shares in the Byron Bay Gold Mining Company is advertised for An extraordinary meeting of the Big Reef Gold Mining Company is convened for April * A sale of forfeited shares in the Wynyardton Gold Mining Company will be held on April 15. NEWS FROM THE MINES. [II telegraph.—own CORRESPONDENT.] Thames, Monday. IBOJAN (FORD). The crosscut driven to intersect) the No. 1 reef continues to advance steadily ahead, but it is at present passing through a stiff class of country. A change, however, is anticipated as the drive adranees, Prospecting on the surface is also proceeding with encouraging results. Paeeoa, Monday. WAITEKAUBI EXTENDED. The erection of this company's battery is now well under weigh, and excellent progress is being made by the contractor. In fact) it is anticipated that 20 head of stampers will be finished in about six weoks' time. The water, however, will not be available until the race is completed, bub ab the outside the battery should be running in fire months' time. KOMATA QUEEN. The development of Argall's and Lavington lodes has been prosecuted during the past month, but both ore bodies seemed to be subject to a disturbing influence, and as no improvement asserted itself the manager has now commenced driving for the reef system further down the hill, or at a point about 400 feet south of the workings. The country here is much firmer and more favourable for deposits of the precious metal. [FROM OUR OWN CORRESPONDENTS.] Coromandel, Monday. RACHEL. Work is being pushed ahead on the Rachel special claim. The main drive on the Arawatba boundary is in 30 feet. Loose blocks of quartz are frequently met with, as also a large flow of water from the face. KAFANOA. Favourable reports are to hand from the Kapanga. Some very nice stuff was taken out of the reef at the 900-feeb level. WEST DEItUY. Another reef containing gold in the loose stuff by washing, has been found. It varies from one to two feet in width. The main lode continues to show gold in the stone,— nice blotches, bub nothing approaching the specimen class. A good lot of fair crushing ore is now on band. KVENINO SJAR. The reef continues to be about) two feet wide. A largo paddock of good crashing dirt is ready for crushing. The quartz from the winzo continues to improve, if anything, in quality. _

MINE MANAGERS' REPORTS. Qoken Victoria or Hauraki (Cabbage Bay, April 3), -During the past week another reef has been found on the western part of the claim, which is from one foot to 18 inches wide. The quartz is of a kindly appearance, bluish iu colour, and carries uice minerals. Star of the North (Cabbage Bay).— Prospecting is being continued with encouraging results. Another leader has been discovered, which is about one foot wide. The quartz is of a rubbly nature, and of a promising quality. ■ National (Kuaotunu). — The leader has been driven on 12 feet for the week, but is now prospecting poorly. Golden Spdr (VVaitekauri, April 21 — Have been putting in a prospecting drive during the week. Several small quartz stringers were met with. The couutry has a very favourable appearance. Golden Lead (Coromandel, April 2) —Not seeing any gold since we started, I thought it advisable to discontinue work onScotty's leader, and have started trenching on a new reef I hare discovered, which is a fine body of stone, fully four feet wide. Midas (Kuaotunu, April 3).— Top crosscut: The country in the back of drive is of a darker class, with soapy heads through it, and if it continues auy distance this will have to be timbered. The drive on the course ot No. 1 has been extended through a good channel of blue sandstone country. I intend driving another week on tho course of the rcet, and then cut through it. While prospecting on Friday I came across two reefs from two to three feet thick. I intend to do some work on them. The quartz in these reefs look very promising. WnEAii Bassett (Kuaotunu, April 2),The country rock is looking well, aud getting easier for blasting as we go ahead. There is a little flow of water coming in in the face. Pandora (Owharoa, April 3).—No. 3 level: The country is improving as the level advances. Wo are passing through as good a class of sandstone as 1 nave seen in the district. No. 4 level: A splendid class of sandstone with nice seams crossing the face now and then. Mag.vet (Coromandel).— During the past week the rise has been advanced 13 feet. The reef looks well, and in breaking down some yesterday we secured about lib of specimens. I expect to get something good when we start to open out from the rise. PRiiMIEK (Kuaotunu).-We have driven 10 feet through seams of quartz and ironstone intermixed with the couutry rock, which I believe to be the reef showing in the upper level. Should the weather continue fine we will start to sink the winze in the upper level to ascertain the underlie of the seam carrying the prospects of loose gold. Soperb (Kuaotunu).—The drive to cut the large reef has been extended ten feet during the week, and at present there is a leader in the crosscut varying from three to six inches. It is my intention to follow this leader up lo where it will strike the big reef, which ought to be ia teu feet. Ulysses (March 30).-For the last two weeks surface prospecting has been continued, and a nice-looking rtef three feet wide uncovered. I started two men to drive on the course of the reef. , Conservative (Thames, April 3).-No, 1 reef: Should the country continue favourable three weeks should see the first lode to hand. Prospecting has been vigorously carried on, but nothing payable has been met with. Tandem (Waikoromiko).-Low level has been further extended 10 feet. The reef at preseut is about 1} feet wide. No 3 level has been further extended 28 feet. Expect to cut the reel; in another six feet of driving. Goldstream (Wharekeraupmiga). - The crosscut has been extended 12 feet for the fortnight. A clay head has been passed through and we are now penetrating » very good class of sandstone. Hauraki Associated (Coromandel, March 29).—Low level tunnel has been advanced 14 feet during week. The more kindly country has now extended almost across the face; expect the reef will improve with this change. Am driving on the footwall leader in three places. Nellie (Whangamata, April 2).—Have continued crosscut No. 2 another eight feet. It is now in 14S feet. The country is itill improving, in fact, at time of writing, it is nearly all blue quartz, with mineral vein 3 running through it. Maokilanu (Kuaotunu, March 26).—N0. 4 lode : The vein continues about 4tt wide, and carries solid quartz, which generally gives a few colours of gold by panning. Drive on leader above Black Jack workings: The ground is traversed by several stringers carrying quartz, but only traces of gold aro obtained by pauning. Pokewhao (Uoromandel, April 3).—For the last week have extended No, 3 drive four feet. The reef is all split up into stringers, but will come together again, I think, as sunn as I get through a slide. A.J.C. (Kennedy's Bay, April 2).-The New Find leader has again opened out, and has carried along IS inches of solid stone. The quartz broken down during the week is of nrst-claas appearance, and colours of gold can be seen in the stone. The silica on both walls still gives good dish prospects. Invicta (Kuaotunu, April 2).—1 expect to cut No. 3 reef next-week j we are now penetrating a better class of country. No. 1 level: With a few feet of driving should connect with Mclnnes' level, driven from the other side of the hill. I expect to break through to Mclnnes' level next week. Nil Desperandum (Tairua, April I).—ln No. 3 level the country is still unchanged, there being no sign of the iode. If the reef is not cut to-morrow I will take the men*out and start them ia the shaft.' In the shaft the country is getting very hard and this week some very good-looking qutrtz leaders were cut. Water is making more freely. Gem of Haubaki (Coromandel, April 3).— No. 2 cross reef runs from IS inches to two feet wide. By mortar test and washing have obtained good dish prospects. There is great improvement in the face of the drive, and the reef has formed nice-defined walls. Aorbrb (Kuaotunu, April 3).—Low level, north end: The reef is still small in the face, and does not prospect so well m it did. I expect a change, here at any minute. The reef in one end of the riae ii 18 inches wide, and in the other 8 inches; the quartz U of a good quality. Martha Extended (Waihi, March 27).The country continues very lolid, and looks well, the 'face being a mail of quartz stringers, Chableston (April 5).—A four-feet reef wai found 15 feat from the entrance of the dnrt, wUich wm continued 25 fact, and reef,

No. 3, {our feet wide, intersected. The manager states that both reefs show colours of gold by pounding. Reef No. 3 was located in short drives both sides of the creek. A drive is now in to cut the approximate intersection of reefs Nos. 3 and 5. A drive 10 feet long has been put in towards reef No. 5. A leader near the entrance shows colours of gold by pounding, as also does the surface earth below the drive as far as the creek. Hadbaki No, 2 (Coromandel, April 3).West crosscut: The country here has taken a change for the better, the ground in the face being lighter in colour and softer. East crosscut: Still penetrating a favourable class of country. The crosscut has now been brought into drive size, and if the country continues as favourable, steady progress may here be expected. New Whau (Thames, April 3).-Sinking the winze has been coutinued. There is quartz the whole width of the winze, and quartz left standing iu the hungingwall. The Middle Star reef is heavily charged with minerals, with good-looking country. Nonpareil (Thames).—The bottom level crosscut has been advanced a further distance of 7 feet for the week, There is some splendid mineral seams showing. The drive on the Liverpool Boys' reef is still penetrating a most congenial class of andesite and in breaking down the reef we still continue to see gold. Welcome Find (Coromaudel, April 3).— There are strong white quartz stringers crossing the shaft, which retards progress considerably. No. 2 level: The No. 1 lode averages about 9 inches in width, the stone is very hard, and rather white, and the country is too disordered for gold. Id breakius down the southern lode in stopea yesterday we saw a little gold, but only in the form of colours. Adelaide (Thames, April 3).— Driving north on the Adelaide reef is being continued. The reef continues its improved appearance and size, and in breaking down colours of gold are occasionally seen, A good supply of crushing dirt is now coining to hand from here. The cross reef is now narrowed down to about 15 inches in thickness, and is a nice compact body of stone carrying some favourable minerals, but so far no gold has beeti seen. Golden Anchor (Kuaotunu, April 3).— The reef paseed through during the week proves to be a body of stone fully two feet in thickness, running north and south and dipping to the cast. The quartz has a promising appearance.