THE GOLDFIELDS.

New Zealand Herald, Volume XXXIV, Issue 10453, 27 May 1897, Page 6

THE GOLDFIELDS.

ASSOCIATED STOCK AND MINING BROKERS.

AUCKLAND SHAREMARKKT. About the usual amount of business was transacted on Change yesterday. There were numerous buyers of scrip of Upper and Lower Thames and Coromandel properties, but in the majority of cases sellers declined to come down to the prices offered. In Lower Thames Cardigans were unchanged atlsld.iMoanataiari Norths at 3d, Orlandos at 2d. Sheridans were again in demand, a line being placed at 3s 9d. Sellers of New Alburniaa came down a little to facilitate business, but buyers delined to go higher than 4s, Knranui - Caledonians had buyers at 4s lOd, Victorias at 2s 6d, Moanataiaris at lis 6d, and Royals at Is 4d. In Kuaotunu scrip Kapai-Vermonts were the only ones to come into prominence, there being buyers at 9s, 5s 6d, and 5s 7d, sellers asking 6a h the morning, and 6s 2d at the close. In Upper Thames properties Crowns were in demand at 23s and 23s 6d, sellers wanting 255. Expresses were sold at 2d and 2Jd, but fell back in the afternoon. Imperials were in steady demand all day, being placed at Is 9d and Is lOd. At the close the quotations were: Sellers, Is 9d; buyers, Is Bd. Talismans hardened, being inquired for at 17s. Rising Suns were again sold at 9d. Talisman Extendeds had buyers at Is 4d at the opening, but subsequently fell, business being done at Is 2d, and at the close buyers offered Is Id, sellers asking Is 6d. Waitekauri Kings were done at 4d, with further buyers at that figure, sellers raising tosd. Woodstocks were exchanged at 355. In Coromandel properties Four-in-Hands were again in demand, being placed at Is lOd. There were stead) buyers all day of Hauraki No. 2atls 3d and Is 4d; Hauraki North, contributing, at 23 9d, and Hauraki South at 4s. Hauraki Norths, paid up, were sold ac 4s 6d. New Golcondas were placed at 6d, and Zealandias at Bd. Great Barrier Gold and Silvers hardened, there being buyers at 6s 6d, 6s 9d, and 7s, sellers asking 8s at the close. lonas also firmed, there being buyers at Is Id and Is 2d.

Business in the following was yesterday ' transacted by the above Golden Point, sa, 4d; Mata Reefs, ljd; Nonpareil, 9Jd; Sheridan, 3s Ud; Wonona, lid ; Express, l£d; Grace Darling, 2s; Imperial, Is lOd; Iranhoe, 6Jd; Karangahake, 2d Mangakira United, 2id, 3d; Sterling, 4Jd; Talisman, 17s 3d; Talisman Extended, Is 3d, U6d, Is 3d; WaihiExtended, 10J; WaihiSouth, Is, lid; Waihi Welcome, 3d; Waitekauri No. 2,3 d; Empress, 2d; flauraki No. 2, Is sd; Hauraki North, contributing, 2s lOd ; Hauraki Associated Gold Reefs, 4d, 3Jd; New Golconda, 6Jd, sd; Progress-Castle Rook, 7Jd; Harp of 'i'.ira, 4d; Aotea, 7id, 8d; lona, Is 2d; Kaitoke, 4sd; Original Great Barrier Gold and Silver, 9Jd; Prospect, 3d ; Fiery Cross, 4Jd: Prince of Wales, 3d; Ptolemy, 2id, 3d, 3Jd; Sceptre, 7d. WAITEKAURI EXTENDED, Experiments are being carried on at the above company's property as to whether the wet or dry process would be the more suitable for bnal adoption, before starting the uew 40-stamp battery. LA MASCOTTE. Arrangements have been made with Mr. McMurray, who is representing an English company, to proceed at an early date from Paeroa to inspect this property. From the proximity of area to the Royal Standard, is likely that an option will be arranged to further develop the area. MARCO POLO (WHANGAMATA). _ The development works that have been in progress in this company's mine for some months past are (says a correspondent) proving of a satisfactory character, the crosscut having now been advanced 147 feet. As this is approaching the estimated distance for the intersection of the Uoldwater reef, it is quite possible that that reef may be to hand at any time. Traversing the country now being penetrated, which is of a firm and excellent description, are numerous small quartz veins, which would appear to indicate close proximity to a large body ot ore. NEW MONSTER G.M. CO. The half-yearly meeting of shareholders of the above company, which was to have been held at Mr. A. Morton's office yesterday, lapsed for want of a quorum, The balancesheet showed the receipts to have been £395 2s 6d, including £315 received from the sale of syndicate shares. The expenditure amounted to £306 19s 4d, the principal item being wages £122 10* 4d. The balanne }n hand was £SS 3s 2d. The assets consist of unpaid calls, £236 10a. I MOUNT TAYLOR G.M. CO. A meeting of the shareholders of the above company was to have been held yesterday at Mr. A. M. Beale's office, but lapsed for want of aquoruin. The meeting was called for the purpose of electing three directors in the place of Messrs. W. J. ami E. B. Dufaur and E. C. Beale. As the meeting was not held the retiring directors were re-elected for the ensuing term. Development work, the re port stated, is proceeding at the mine with satisfactory results. No reefs carrying gold of a payable nature have so far been discovered. CUSTOMS DUTY ON GOLD MINING MACHINERY. At the sitting in Banco at the Supreme Court yesterday forenoon a special case with reference to Customs duty on imported mining machinery was brought on for hearing before His Honor Mr. Justice Conolly. The plaintiffs were Messts. John Chambers and Son, merchants and importers of machinery, of Auckland, and the defendant the Collector of Customs, Mr. Rose. In the month of February, the statement oi case set up, plaintiffs imported into the colony of New Zealand, for home consumption, certain goods being parts of mining machinery, to wit, 50 forged shoes And 50 forged dies for crushing and pulverising purposes, of the total value for duty of £125 12s lOd. The plaintiffs disputed the right of the defendant to charge and demand Customs duty on the said shoes and dies, and said that the same were exempt from the payment of such duty, on the ground that they wholly consisted of machinery for gold-saving purposes or processes, ana were therefore exempt from duties of Customs under Class XII. "metals," in Schedule B to the Customs and Excise Duties Act, 1895. The defence set forth that the use and purpose of the said shoes and dies were not exempt from the payment of Customs duty. - The question before the Court was as to whether any, and what duty was payable on the said goods, and on these points argument was heard. Mr. Hugh Campbell appeared for the plaintiffs, and the Collect*# 1 of Customs (defendant) was represented by Mr. J. A. Tole, Crown Solicitor. Mr. Campbell, in opening the argument, contended that when the ore reached the top of the ground mining ceased, but once the ore wis introduced into the mortar boxes, and crushing and pulverising proceeded with, then the gold saving process had commenced. Thus it would be shown that the shoes and dies used in the treatment consisted wholly of machinery for gold saving purposes or processes and were therefore exempt from duties of Customs under Class XII,, " Metals," in Schedule B. to the "Custom and Excise Duties Act, 1895," as set forth in plaintiff's statement. Should there be any doubt on the point it was for the Court to decide in favour of the subject. Mr. Tole argued-'that the crushing and pulverising of the ore, for which purpose the shojs and dies were used, did not constitute fjolfi saving, but merely ground the ore into tine particles, the subsequent treatment of which would actually be the gold saving process—this being after the removal of the amalgam of gold and mercury front the mortar boxes. The actual crushing of the ore by means of the stampers merely preceded the gold savins, as there could be no process of saving , entered upon until the stampers had been used. The crushing was a function entirely distioctfromgold-saving, and the machinery used would therefore come under the beading and within the meaning of the names of articles described as " machinery of every description for mining purposes" in Class XII., manufactures of metals,'' in Schedule A to the Customs and Excise Duties Act, 1895.

Mr. Campbell combated the contention, pointing out that because the methods of crushing was not as complete as the more perfect methods introduced in gold saving, this was no reason that the process of crushing should not lie looked upon as gold-saving. The crushing of the ore was the preliminary stage of gold saving, and the first act was equally as important a part of the saving as wnen the amalgam of gold and mercury was removed from the mortar boxes, to be treated by the cyanide or other subsequent process. His Honor in giving judgment, said the shoes and dies were merely used for the purpose of crushing the ore, which did not M far as he could understand, save any portion of the gold. Crushing the gold anil ■tone into powder did not save the gold, which was saved only by the subsequent treatment of the amalgam. Judgment would therefore be for defendant with costs, as arranged by consent, on the lowest scale.'

GENERAL MINING ITEMS. We have received an analytical index to the various Mining Acta,'and the regulations made thereunder, etc., which has been prepared by Mr. John Houghton, barrister-at-law. The index is a very complete one, and will be found of great use by those needing to refer to mining lawi and regulation*.

A few specimens of quartz from the winze five feet below the floor of the low level in the New Golden Point mine, at the Thames, have been forwarded to Mr. 8. H. Matthews, the legal manager. The stone loots well, and shows gold. The reef has been driven on for 70 feet on each side of the crosscut, aud the indications are, according to the mine manager, very favourable. At the intermediate level, where work has been stopped, the' reef has been driven on for a distance of 70 feet. The mine manager thinks that Bull's reef should be met with in about a fortnight's time. The manager of the Waihi South mine yesterday forwarded the following telegram to Mr. I). G. MacDennell" Shot opened into brown sandstone again this morning." Mr. W. R. Waters yesterday received the following telegram from the manager of the Fiery Cross mine:-" Reef looking well. Good prospects by pounding. As the statutory meeting of the Grosvenor United Gold Mining Company was not held, the retiring directors, five in number, are therefore considered to be re-elected. During 1896 the Sew Hoy Big Beach Dredging Company (Otago) obtained 23080z of gold, valued at £9015 3s Bd, The cost of production, however, was large, amounting to £8310 10s. Sixteen Otago dredging companies in 1896 obtained 12,7820z, valued at £49,535. Mr. Shaw, chairman of a Scotch mining company, has been visiting the Waitekauri district, and looked over the Waitekauri King property, and took samples of the Ellen reef. It is intended to form a company under the title of the Barrier Reefs Gold Mining Company, for the purpose of acquiring and workin? the property adjoining the Great Barrier, and known as Regan's Proprietary. The vendors have agreed to pay the whole of the expenses incurred in openiug up and developing the mine, and have paid £3000 cash to Messrs, Ryan for the freehold, who are also to receive an allotment of 22.00G fully paid-up PI shares. The capital of the company is £100.000, in 100,000 shares of £1 each, 20,000 shares being issued at par. Details as to the nature of the work done on this mine have already appeared in the Herald. The reef known as No. 3, and which continues through the Great Barrier Gold and Silver Company's property, has been driven oi for 236 feet, while a winze has been sunk on the reef to a depth of 125 feet from the outcrop. Further particulars may be found in our advertising columns. Mr. H. Gilfillun, jun., has been appointed secretary, and application for shares must be made to him before next Friday at 2 p.m. A meeting of shareholders in the Hauraki N.Z. Associated Gold Reefs (Limited) is called for eleven o'clock on Friday, at the Chamber of .Mines, to discuss the Company's present position and the circular recently issued to shareholders. A full attendance is particularly requested, the business being of a most important nature. Extraordinary meetings of shareholders in the Hastings and Sheridan Gold Mining Companies are called for to-day.

THAMES SHAREMARKET. [by telegraph—own CORRESPONDENT. J Thames, Wednesday.

Adelaide, sellers 8d ; Alburnia East, sellers 9:1; Broken Hill,(buyers 2id: Conservative, sellers 2d ; Grand Triple, sellers 3d; Karaka Queen, sellers 4Jd; Kurauui, sellers Is -M ; Mclsaacs, sellers 4d, buyers 2id; Moanatairi Extended, sellers 4d: New Whau, sellers 7d ; Nonpareil, sellers lid ; Occidental, sellers 4$:1; Sheridan, sellers 4s ; Tararu Creek, sellers 4s; Temple Bar, sellers 3d ; Victoria, buyers 2s 6J ; Rival, sellers Is 7d, buyers Is 4d ; lona sellers Is 6d; Lone Hand, sellers Is; Albert, sellers Is lOd,

NEWS FROM THE MINES. [FROM OUR OWN CORRESPONDENT.) Thames, Wednesday. CARDIGAN. The water trouble iu the new shaft has to a great extent been overcome, and very fair progress is now being made with the sinking of the shaft through a blue sandstone country, MANCHESTER. A drive and leading stope is in progress upon what is termed Musket's reef, and at each breaking down colours of gold are seen through the ore. The total length opened up on the reef is 35 feet, and the ore won therefrom has all been saved for treatment. MCISAACS, The drive along the eastern course of the Australian reef is being steadily advanced, and a leading stope carried along as well, The reef varies in size somewhat, and looks very promising, but uo gold has been seen lately. An excellent class of country prevails, and it is anticipated that another run of gold will shortly be met with. FORD CONSOLIDATED. Mr. Metcalfe, mining engineer, recently visited this company's property, and laid off the site for the proposed new stamper battery, and also took the levels for the water-race and tramway. The plans will shortly be placed before the directors. NEW WHAU. Very fair progress is being made with the advancement of the crosscut which is being driven at the low level iu order to effect a connection with the winze recently sunk from the Middle Star level. A nice-looking leader, about nine inches thick, was recently intersected, but no gold was seen iu it. Paeroa, Wednesday. GRAFTON UNITED AND GRACE DARLING. Mr. Shaw and party, who visited the Grafton United and Grace Darling properties, were, 1 understand, highly pleased with their inspection, and as a result of the visit, men are to be put on in the latter claim, for the purpose of breaking out stone, so that it may be thoroughly tested. NEW ZEALAND CROWN. Operations at the New Zealand Crown mines continue to be of a productive nature, especially those being conducted in the underhand stope below No. 6 level. Here a depth of about 50 feet has been attaiued, the reef showing no signs of diminishing in size; whilst it coutinues to maintain its value of about £5 per ton for a width of about fifteeu feet. This consistency gives great expectations as regards the opening up of the lower blocks, and an encouragement to the management to prosecute with all diligence the erection of the machinery necessary to allow these low level explorations to be continued. In fact the company's manager (Mr. Daw) is pushing ahead the works as fast as possible, the chambers being completed, and now the winze is being lined, and various other preparatory works are in hand, these being necessary before stripping the winze to form the incline shaft could be Undertaken. A large proportion of the new .' plant has arrived at Karangahake, and has been taken up the gorge as tar as the No. 6 level, so that it will be seen no time is being wasted in carrying out the big scheme of operations resolved'upon sometime ago. With regard to the No. 6 level works the tunnel is being continued ahead, and is passing through highly auriferous ground, The lode has for some time past been much, smaller than usual, but it shows signs of widening out. Stopiug operations are being assiduously prosecuted at the back of No. 6 level, five stopes being beaten along south of the great fault. The reef here continues to average about six feet with a productive width ot three feet six inches, whilst the ore ranges in value from £3 to £3 10] per ton. The reef at No. 4 level has now widened out to about two feet six inches, and produces ore of good quality. The same remarks may be applied to the stopes, six of which are being carried along. In addition te these works the large amount of ground available above the No. 4 level is about to be developed, and two rises are ia progress, both of which will he carried right up to Coward's workings. The lode is in active course of development) at a point about 100 feet from the back of No. 4 level, the new level being termed the No. 3. Driving on the lode south of thi) fault is also in hand, and from one of these sources a good supply of ore is being mined—that is the former working where the lode is about three feet wide, and gives an average value of £2 10s per ton iu the face south of the fault. However, the latter hits just been passed through, and now driving eastward is in progress with a view to tucking np£ho reet, which it is expected will be met with in a day or two, The fine feather' which his prevailed during the past) few days has 'enabled much better progress to have been made with the Waitawheta water-race, and no doubt excellent progress will continue to be made while the rain keeps off. At the reduction works good progress is being made with the construction of the vats, four steel tanks being now erected, while the contractors are busily engaged rivetting the plates for the fifth. Speaking to Mr. Daw to-day, he informed me that in about six weeks time he hopes to have fifteen head of stamps working under wet crushing. Mr. Daw also stated that the experiments being made with the process are highly successful, the consumption of chemicals beiug about the same as the dry method, whilst tbe bullion extraction is somewhat higher. Another great difficulty has also been removed in connection with the treatment of slimes, the new process adopted enabling the battery authorities to deal with the ore no matter how slimy it is. This, he says, will allow the Crown Company to treat the ore from the'; underground workings at one-half the cast' incurred by the dry system. Something like 1000 tous of j ore have now been treated with the five head • of stamps, and I understand no difficulty has been experienced from the commencement. ,

MINE MANAGERS' REPORTS. Flemington (Whaugamata). — Work in both levels has been pushed ahead in crossi cut Oil No. 1 reef. Country is good sand- | stone, with mineral veins running through it. Daws of Hope (Owharoa)r-Drive is now in 237 feet. Country is of a hard nature Komata Triumph (Komata).—Drive on north side of low level crosscut has-been driven six feet during week. Reef in appearance looks very welL Drive on south side of crosscut upon reef has been driven five feet for week. Reef is rather small and lying flat. Woxoka (Thames).—A portion of better ground coming in for working, and expect to go & little further than we have been doing. Pdriri (Thames). -Driving on new reef, which, in present face of drive, will average about two feet six inches thick. Quartz is of very favourable description. • {Cdrandi (Thames, May North drive on Oddfellows' reef has been advanced without any change. Reef still small. South drive: Reef shows width of 15 inches, and has promising appearance. Country is improving. Great Maratoto (Maratoto, May 22).— Drive through Marguerite reef lias been extended total distance 27 feet. No sign of the hangingwall, while prospects obtained have been most encouraging. Jason reef: Low level has been extended total distance of 30 feet. Reef in the face looks promising. Footwall portion gives very fair prospect of gold. Bra Reef (Thames, May 22).—Have not discovered anything on Puru special section. Big reef section Reef looks well, and I anticipate a change for better, as the country is broken at present point. There is little gold in face. '• New Zealander (Waitekauri } May 22). Reef is fine body ef quartz carrying minerals generally associated with gold. Coitntry'in face little disturbed at present. Rite is up 15 feet in reef. Sdnlioht (Thames, May 22). —Still driving. Rock is much harder, and water is coming again. In trenching nothing new. Waitekauri No. (Waitekauri, May 22).— Tunnel to intersect black reef has been driven 16 feet for week. City of Auckland (Thames, May 22).— Contractors fur shaft have been _ employed timbering up. Low level tunnel is in) good ground for progress. Have done no work on surface reef. Mata Reefs (Thames, May Putting in fresh drive to cut reef close to where junction exists. Reef should be met with after auother 30 feet of driving. Marquis of Salisbury (May 25).—Attention has been turned to small leader just discovered on eastern boundary of property, This leader is passing through favourable class of country. Hauraki N.Z. Associated Gold Reefs (Coromaudel, May 24).— Stoping operations are still being pushed ahead on footwall lead. Colours of gold have beeu seen when breaking down in No. 2 stope. Have men in winze on Rainbow at No. 1 level. A'iRERE (Kuaotunu, May North end drive on reef has been driven total distance of 21 feet. Reef is getting larger and more compact, aud is now 14 inches wide and gives fair prospects of gold by poun ding. Leadiug stope has been taken along total length of 37 feet. Last breaking down dabs of gold were seen in stone. Reei IS inches wide. Talisman Extended (Karaugahake, May 24).—five feet lias been driven on reef since last report It is one foot wide, aud cucased in firm white sandstone country. Ccviek Light (Coromandel, May 23).—Prospecting and trenching lie surface continued. Have started sinking on reef known as No. 5 reef, which is about four inches wide on surface. Some of the stone gives good prospects by pounding. Renown (Thames, May 2.').—Contractors have now finished their second contract of 100 feet. Crosscut has now attained a total length of 322 feet. On Monday _ purpose starting to drive under surface cutting. Mariner (liarangahake, May 22).—Winze has been sunk further distance of 12 feet. Reef is about 19 inches wide. Country becoming much harder, being interlaced with quartz stringers and iron veins. Princess (Karaugahake, May Crosscut at 500 feet level is now in 166 feet. Drive is passing through good class of country. York (Whangar.iata).—No. 2 drive is in 39 feet; passing through very firm description of sandstone, making progress slow. _ Albion (Whangauiata).—No. 1 drive is in 27 feet, and small stream of water is running from face. Zone (Whangamata).— driving along No. 4 reei and getting into more solid j country Broke down some quartz and find it of very favourable nature for gold. Waikoromiko (Waikuromiko).—Have cut Blackniore's leader in No. 2 level. It is four inches wide, aud carries good prospects of gold. Uoldstbeam (Wharekeranpunga). —Op penetrating cap of reef find it co' bo fully 15. feet wide, the greater portion consisting of rubhly, decomposed quartz, which I expect will become solid at a lower depth. Klectkic (Whaugamata).—Leader in face continues about, same size. Country is very hard.

Morion-Poru (Thames, May 22).— Have continued driving crosscut to intersect Rirnii reef, ami have now driven a distance of 125 feet. The country continuee of very favourable nature, while several small stringers have also been cut.

Golden Link (Kniotunu, May 32).—Drive has been advanced 100 feet Irom reef,which is again 3 feel wide, and carrying ft large proportion of quartz, giviug prospects of gold when pulverised and washed. OCCIDKKTAL (Thames, May 24).— progress being made with extension of North Star crosscut, it having been advanced 18S feet.

Victoria (Thames. May 24).—Winze lias beeu connected with No. 3 level, and leader, driven on at latter levei proves to be same as that worked at intermediate. Quartz of very/ good quality has beeu carried fur the whole. depth of cilia winze, Driving has been continned at the intermediate level of eastern and western continuation of leader. In the stopes a slight improvement is noticeable, picked stoue having been secured at breakings of reef. Crushing of 57 loads quartz was finished for yield or 160osa retorted gold, reduced on melting to le7ozs 13dwts, valued at £437 10*.

May Queen Extended (Thames, May 24). —Have uot broken down for week, but will get reef broken down this week. Drive toward the Hague Smith Reef is in rather hard, but good chss of country. Golden" Fleece (Karangahake, May 22).— Main level has now been driven 304 feet. I do not think it will be long before we have reef to baud. During week have cut through two small seams of quartz. A large outcrop of quartz is showing on surface between No, 1 aud No. 2 reefs.

Sheridan (Thames, May 54).—Main low level crosscut has been steadily pushed ahead. According to survey there is yet 290 feet to drive before the Sheridan lode will be to band. Total length of crosscut, 874 feet. Excelsior (Karangahake, May 22).—Level on reef has been extended 229 feet. Have now got footwall of lode; it is about 18 inches. When broken down looks very promising, it being very heavily mineralised and should make gold at any time. MABITANA (Owharoa, May 22). — Drive south on reef has beeu extended 27 feet. Bubbly lode one foot wide, which was running parallel with big reef is dipping very fast. Prospects taken from lode carry a little gold.

New Munster (Te Aroha, May 22).—Have driven five feet through hard blue rock, but brown sandstone has made its appearance again. Total distance driven, 14 feet. Boss (Thames, May Length of tunnel to date is 141 feet. Country is still hard, but of splendid class. Few colours of gold were obtained when trying dish prospects.

Matarangi (Mataraugi, May 24).—North drive on Ocean View Reof has been extended 20 feet further; reef a compact body of stone live feet wide. South drive has been extended ten feet, reef formation five feet wide, total distance driven, 270 feet. Have also driven 13 feet on No. 2 reef, and six ■ feet on No. 3 reef; size of reef in No. 2, 15 inches; and in No. 3,12 inches. . '

Union Jack (Karangahake).— Friday last a well-defined reef, one foot wide, underlying to the west, was intersected. Some of the stone is kindly-looking, 'and' intermixed with manganese and silica, 'The country is white and purple sandstone. Waihi Sooth (Wai'hi, May 24).-Have had. very favourable change of country, brown sandstone, but have got through it again and into hard country. Total length of drive 292 feet. ; • PORn Junction (Pnru, May 17).-No. 1 Digger's Dream low level crosscut has been driven 56 feet. At present no indication of reef. No 2 Pakeha : Have driven a total of 25 feet, country is mixed, but of ,good quality. Have just struck solid wall, where after driving a few feet I hope to strike, the reef. - Raiser (Thames, May 22).—Reef' still maintains quality both in solid quartz, also by pounding and washing, Reef is two feet in east end, one foot in west end of winze. Waitekauri Monarch (Waitekanri, May 24).— 1 south level has been advanced eight feet further. Sandstone is of very hard nature. Reef should be to hand this week.. ' i : '

Crows Imperial (Karangahake, May 24). Commenced south cross drive; it is in six feet. Country is of very firm nature, intermixed with quartz veins. ,• i ; Argosy (Thames).— timbering of main drive is being carried on, no breaking down has been done for last two weeks. Crosscut is advancing very favourably, and general appearance of the country is promising. ' '