THE GOLDFIELDS.

New Zealand Herald, Volume XXXIV, Issue 10433, 4 May 1897, Page 6

THE GOLDFIELDS.

AUCKLAND SHAREMARKET. A fair amount of business wu transacted yesterday, and for several mining lines there was a steady demand. In standard stocks no sales were recorded, but there were buyers (or almost every line, at prices, however, to which sellers would not come down. For National Banks there were buyers at 39s 6d, while there was alto a steady demand for Auckland Gas (new) £9 s*. Thames Gas 365, Palmerston North Gas 735, and New Plymouth Gas £6 9s. New Zealand Drug (paid up) had inquirers at 45s 6d, and Union Oils firmed a little, thero being buyers at 15s 4d. In mining, Kuranui-Caledouians were sold at 4s, Victorias were exchanged at 2s Id; at last call sellers asking 2s 6d, with best buyers 2s. Golden Horns dropped to 4d, at which price business was done. Bunker's Hill had Buyers at 2s 4d. lonas (Great Barrier) had buyers at Is and 1b Id, sellers coming down from Is 4d to Is 3d to facilitate business, but no sales were recorded. Tararu Creeks jumped from 3s to 3s 6d at noon call, and towards the close there were buyers at 3s 7d with no sellers. Sheridans also hardened, the news that another offer for the property had been made v y a syndicate and the sum of- £6000 deposited as a guarantee accounting for the rise. From sellers 2s buyers Is lOd at first call, the shares rose to at last call sellers 2s 3d buyers 2s 2d. Hauraki Souths and New Alburnias showed a slight decline.

ASSOCIATED STOCK AND MINING BROKERS. Business in the following was yesterday transacted by the above:—Sheridan, Is 6d, Is 7d; Mangakara United, 2d; Bunker's Hill 2s6d. CHAMBER OF MINES. A meeting of the Finance and Legal Committee of the Chamber of Mines was held yesterday, to confer as to matters, in relation to mining law, to be laid before Mr. Eliott, under secretary of the Department of Mines, who is now in Auckland, with a view to consulting the Chamber, A conference has been arranged. GRAFTON UNITED G.M.CO. An extraordinary general meeting of the shareholders of the above company was held at Hobson'a Buildings, Shortland-street, yesterday, to consider the advisability of increasing the capital of the company by a new issue of shares and other matters. Mr. H. E. Partridge (chairman of directors) presided. On the motion of Mr. Cook it was decided to authorise the directors to dispose of the whole, or part of the property, as they may think fit, to purchase any other mining property, to amalgamate the property with that of any other company, and to delegate to an attorney all the powers of the directors.

GREAT BARRIER G. AND S. CO. Mr. Charles Clayforth and party returned on Sunday from a visit to the Great Barrier Gold and Silver Company's property. Mr. Claylorth states that work is progressing satisfactorily, and that the property is proving in every way up to expectations. On the upper level the reef, which runs from 20 to 22 inches wide, has been driven on for a distance of 160 feet, and still maintains its quality. On the low level it is estimated that they are within 60 feet of the reef, which should be cut in another month's time. Prospecting operations are proceeding about 600 yards from where the reef starts on the Barrier, and similar stone from that obtained in the vicinity of the reef is being met with. The lona reef is also being driven for on the eastern portion of the property. Twenty-six men are at present employed.

SHERIDAN G.M. CO. The option over the property of the above company having lapsed, a second proposal has been made on behalf of a Napier syndicate. As a guarantee of the genuineness of the offer the sum of £6000 has already been lodged in the bank, this sum being available for working capital should the offer be accepted. The offer now made to the shareholders of the Sheridan is that a company of 130,000 shares of £1 each be formed, of which the veudors receive 50,000 paid up. The working capita! to be provided is £10,000, of which amount £6000 has been underwritten as mentioned above, the balance (£4000) to be called up whenever required. The directors of the Sheridan Company met yesterday afternoon in Mr. D. G. MacDonneli's office, and discussed the proposal at some length. It was eventually decided to lay the matter before the shareholders at a meeting to be called this month. The offer differs somewhat to that originally made by the syndicate.

HASTINGS G.M. CO. A meeting of shareholders in the above company was held yesterday, at 87, QueenStreet. Mr. Graves Aickin presided, and there was a large attendance. The statement of accounts showed there was £178 in the bank, the company possessing bills to a further amount. Considerable discussion took place with regard to these bills. Several shareholders spoke strongly as to what they considered want of care on the part of the Board. It was decided to wind up tho company, only those who had paid for their shares to porticipate in a dividend. The latter clause being inserted, it having transpired that 16,500 shares had not been paid tor. Mr. G. Waters was appointed manager for the purpose of winding up. GENERAL MINING ITEMS. The difficulty between the representative of the syndicate at present holding the option over the Great Barrier Gold and Silver Company's property and some of the men, re residence sites, has, it is stated, been amicably settled. The antimony block on the Great Barrier is at present being inspected on behalf of a syndicate. Several other representatives of syndicates have of late been inspecting the northern portion of the island. At yesterday afternoon's call, the matter of granting a subsidy towards the carrier pigeon service to and from Auckland and the Great Barrier was considered, and it was decided that no assistance be granted. A party consisting of the representatives of English syndicates and mining experts left per Waitangi last night for the Thames, where they intend examining some properties in which they are interested.

THAMES SHAREMARKET. [by telegraph.—own correspondent.] THAMES,Monday. Adelaide, sellers 9d; Albumin East, sellers 8d; Club, sellers, 3d; Comet, sellers 2d; Conservative, sellers 3d; Darwin (contribution), sellers 3d ; Grand Triple, sellers 3d; Kuranui-Caledonian, sales 4s, sellers4s 6d, buyers 4s; Karaka Queen, sales 4Jd; Kuranui, sellers Is 3d; Mata Beef, sellers 4d: Mclsaacs, sellers 4d, buyers 24d; New Whau, sellers 6d, buyers 4d; Nonpareil, sellers lOd, buyers 7d ; Occidental, sellers 3d, buyers 2d; Royal Sovereign (paid up), sellers 6d ; Tararu Creek, buyers 3s 6d; Temple Bar, sellers 3d ; Victoria, sales 2s, buyers 2s; Royal, sellers Is 7d : Seven Reefs, sellers 2d. NEWS FROM THE MINES. [BY TELEGRAPH.— CORRESPONDENT.] Thames, Monday. DOVER CASTLE (PDRIRI). The only work in progress just now is the driving of a crosscut for the purpose of intersecting a new. reef that was recently discovered outcropping at the surface. A good class of country is being penetrated, and 24 feet of driving should reach the reef. MATA REEFS. In this mine a crosscut is being driven to intersect the junction of two lodes in the vicinity ot where good results were obtained in by-goue days. Surface prospecting is alio being proceeded with in the Salisbury section, where a number of large lodes have been unearthed, but nothing of any consiquence has yet been disclosedSOUTHERN MINING. [by thlegraph.— association.] Donewn, Monday. The Glenrock Company, Macetown, cleaned up 2060z 12dwt of gold from 245 tons; the West Australia Company, 81oz 15dwt from 219 tons. The Glenrock Company also obtained £70 worth of gold from the berdans by the cyanide process. Upper Waipori Company's dredge, 39oz7dwt for the week ; Jutland Flat, 260z Bdwt, MINE MANAGERS' REPORTS. Great Maratoto (Maratotc, May 1).Marguerite reef now shows a thickness of 13 feet: the stone for whole distance is of promising character, and gives prospects of gold in dish. Mexico reef: Drive on course of reef has been extended eight feet for the week; for last few feet driven the reef has been somewhat pinched, but it should make again. AoßlßE(Kuaotunu, May I).—Have driven into the footwall portion of the drive where the reef was lost, and I think reef will soon make on proper wall. Leading slope has been carried 14 feet: reef is 20 inches wide, and showed nice gold in the stone when broken down. Caspian (Thames, May l).-Grouud very tight. A pood many quartz veins and (unties are crossing the face. Golden Anchor (Kuaotunu, April 30).Low level has been extended 478 feet. Country still continues good, being a splendid blocky sandstone interlaced with bright mineral seams. Fifty feet more should fee No. 5 reef to hand. J

Bat View (Kennedy's B»y, Mij I].Country still continuing hard, and reef at present split up into two veins, about three inches thick, each carrying nice mineral, with every indication of making gold. J Prospect (Kuaotunu, May l).-8inc« going through last reef (20 feet wide) have got great change of country, mullock and quartz, ut nothing defined. Quartz giver prospect by pounding. _ . Peehieb (Kuaotunu).-The winze on No. ■] 3 leader is now down 24 feet ; leader is from . four to five inches in width as bottom. The men will start to-morrow in the low level t crosscut to rise on No. 3 leader to meet t winze. _ , , . J Pdbibi (Thames).-Haveextended crosscut j 58 feet. Country is of a very firm description , of sandstone, which makes progress some- ( what slow. Inca (Whangamata, May 3).-Ummenced low level crosscut, to intersect Luck at Last ' reef. Have got in 35 feet, country very soft, « and requires timbering. Will have to drive f 96 feet to cut reef. ..,-,„, ' Pubu Junction (Puru, April 27).-No. 1: t Have driven 33 feet in all. Country changed , to brown sandstone, interlaced with ironstone , stringers. No. 2 Pakeha: Total length J driven, 872 feet. Country improved very much, interlaced with stringers and leaders, two of the latter being from li to three inches in thickness. No. 1 Pakeha: The reef ' which I thought had pinched out is making ' again. ' Mataeanni (Matarangi, May l).-Com- i pleted uprise last week. Have been extend- i ing drives both north and south on Ocean i View reef, which maintains its average size in both drives. Prospects fairly good. Total distance driven to date, 215 feet. ( West Derby (Kennedy's Bay, May I).— Upper level driven eight feet further. Reef is about two feet in thickness; gold can be obtained by both pounding and washing; reef is improving in appearance._ Lower level: Reef is about six inches in width, and at each breaking down gold can be seen. Welcome Find (Coromandel, May I).— No. 2 level: Drive has been extended 145 feet. Face is still full of stringers, which retard progress. Ground in engine shaft is of blocky nature. Depth of shaft is 216 feet. The No. 3 lode recently intersected in No. 2 level is draining the winze sunk below No. 1 level. Nonpareil (Thames, May 1).-Drive east on Liverpool reef has been resumed. Reef in face is 9 inches wide, and in breaking down the quartz it shows good indications. In the western end gold has been seen at each breaking down. Have made a start to drive west on Wade reef, and in breaking quartz down we saw nice colours of gold._ Reef is 18 inches thick. Seeing gold here is very encouraging, sb very little work has been done so far. The crushing of 20 loads (the first from this level) gave the very satisfactory return of 103oz 4dwts melted gold, valued at £288 2s. Adelaide (Thames, May 1).— Leading stope on Adelaide reef has been taken to break and timbered. Reef has shown some strong colours of gold. Stopes going north are proceeding, and occasionally colours of gold are Been in the quartz. Driving north on Adelaide reef is in progress and reef is showing minerals of a favourable character. Albdrnia East (Thames, May I).—Works in progress consists of rising and stoping out a block of erouud 30 feet in length. It has been sloped 32 feet above the main level. Lode upwards shows a decided improvement. Quartz is kindly looking stone, in which gold is seen at each breaking down. I purpose opening out an intermediate level and driving and Hoping at both ends. Hadraki No. 2 (Coromandel, May I).— West crosscut is now advanced 153 feet. Early in the week quartz was again touched, which has since proved to be a very strong reef two feet thick. It is running north-east and south-west, and as far as I can see is dipping to the west. Quartz contained in reef looks very well indeed. East crosscut: Ground is little tighter. Total distance driven 62 feet. Country is much the same. Pump and winding engine working smoothly. Boss (Thames, May I).— portion of the No. 2 reef gives prospects by pounding, so have cut a quartz paddock, and am now saviug some of the stone. The tunnel is in 127 feet. No. 3 tunnel is still passing through good auriferous country, and is now in 60 feet. New Whau (Thames, May Contractors have made a start with drive at low level to out the Sons of Freedom reef, and to connect with winze. Cut through number of veins of quartz about 5 feet thick, and in which we saw colivurs of gold. Middle Star drive has been extended. Reef is now about 5 feet wide, well defined and mineralised, but have not seen gold so far. Imperial (Karanghake, May 1).— Driving south on the course of Mo. 1 reef is being continued. Lode is now assuming its usual defined appearance. No. 4 level: Reel , driven upon is about one foot thick, and looks very promising: blotches of gold can be seen at each breaking down. Juno (Kuaotunu, May Have been i sloping, from which getting general dirt. At . last breaking down of leader did not get any I picked stone, but it gave good dish prospects i loose gold. i Golden Waitekauri (Karangahake, May i I).—Have commenced to drive a crosscut in i easterly direction. By starting to crosscut . from this point creek we shall intersect any t lodes that are traversing through property. f The drive has been extended 30 feet, and ) timbered up to face. r Wheal Bassett (Kuaotunu, April 30).— > Extended No. 3 crosscut 181 feet, and new . crosscut 20 feet. Have uncovered another 1 reef about 2 feet 6 inches wide. Have not seen f gold in it, but stone looks so promising that I am putting in a shallow crosscut, to try it lower down. When starting face of drive cut into what I believe to be a fair-sized lode. 1 pounded the stone, and got a few rough colours of gold, , Queen Victoria (Coromandel, May I).— Prospecting is being continued, and a 6-inch rubble leader opens up. Small stringer of quartz near leader gives good prospects of gold, by pounding and washiug. [ Star of the North.-Driving is being . continued in fair working ground, and reel ' should bo to hand in another 30 feet of driving. Lobna Doone (Kennedy's Bay, April 30). _ Western crosscut: Total distance driven, 35 B feet. Country still continues of a first-rate description, and if same class of ground continues up to big reef, should open up somei thing of importance. , Bunker's Hill (Coromandel, May I).— , Crosscut: Extension of drive is being s ' vigourously pushed ahead. Mineral veins and stringers are occasionallyiintersected. Northwest intermediate drive from wiuze: Reef here is encased in excellent class of country. Strong mineral veins, traversing face of drive. The breaking down shows reef to be nine inches wide. Colours and dabs of gold 8 freely seen.