THE GOLDFIELDS.

New Zealand Herald, Volume XXXIV, Issue 10509, 31 July 1897, Page 6

THE GOLDFIELDS.

AUCKLAND SHAREMARKET. tain was little change in the market yesterday. New Zealand Drop (£2) were done at 48s fid, and there were buyers is other leading investment stock*. In mining acrip, May Queen, Haurakii were exchanged at 4d, and New Alburniaa at Si 8d and 6i 6d. New Wham were about the same, sale* only varying Jd. Ohinemuria hardened up to Id sale*. Talisman Extended! showed a ■light indication to weaken after sales at Is fid. Waihi Extended* were transferred at li 3d and Is 4d, and Waihi Welcomes at 3d. Empress' were done at 3sd, and Prince of Wales' at Hd. ASSOCIATED STOCK AND MINING BROKERS. The following sales were recorded esterlay by the above Clones, 2d, 2Jd; Darwin,contributing, Id; Kaiser, contributing, 3d; New Alburnia, 5s 7d; Mew Whau, 7d, 7Jd ; Goldspur, Id ; Ohinemuri, 44, sd, 4Jd; Waihi Extended, la 3}d; WaihiSilverton, 12s; Waihi Welcome, 3d; Empress, 3Jd,4d; New Golconda,4M; Hauraki Main Lodes, 6d; Fiery Cross, 4Jd. QDEEN OF BEADTY G.M. CO. The ordinary general meeting of the Queen ■f Beauty Gold Mining Company lapsed yesterday for want of a quorum. The balancesheet showed a credit of £302 12s 6d. ORLANDO G.M. CO. The balance-sheet prepared for the general meeting of this company, which lapsed yesterday, stated that the receipts were £808 13s 2d, of which, after meeting expenses of £606 13s 2d, a cash balance was left of £2. PANDORA G.M. CO. The general meeting of this company called l*r yesterday lapsed. The statement of accounts showed the receipts to have been £435 12s sd, and expenditure £375 7s 2d, leaving a cash balance of £60 5s 3d. CROWN ROYAL G.M. CO. The annual general meeting of shareholders U the Crown Royal Gold Mining Company took place yesterday at Mr. C. A. Stubbs, Mr. R. C. Cut presiding. The statement •f accounts showed a credit balance of £1 kid. BOSS G.M. CO. The annual general meeting of shareholders in the Boss Gold Mining Company (No Liability) called for yesterday afternoon at { the legal manager's (Mr. A. Morton), lapsed for want of a quorum. The statement •f accounts showed a credit balance of ! £1217e Sd. ! GEM OF THE TIKI G.M. CO. ! The ordinary general meeting of share- , bolder* in the Gem of Tiki Gold Mining , Company called for yesterday at the office ol i the legal manager, Mr. C. A. Stubbs, Hob- | son's Buildings, lapsed for want of a quorum, | The statement of accounts showed a credit , balance of £115s lOd. ,

JDNO G.M. CO. The halt-yearly meeting of the Juno Gold Mining Company was held yesterday, Mr. E. M. Coleman presiding. The director* reported that the area of the company's property had been increased, and it now held MO acres. The balance to the company's credit after meeting £505 lis 3d expenditore, was £46 lis &Jd. NONPAREIL G.M. CO. At the ordinary general meeting of the •bore company, held yesterday, the directors' report presented was very promising, and the amount to the company's credit was £1160s 6d. Messrs. J. Brown and M. Casey were re elected directors, and Mr. F. L. Prime was re-appointed auditor. Mr. Thos, Peacock presided. RAINBOW G.M. CO. The above company's ordinary general meeting lapsed yesterday for lack of a quorum. The amount standing at the company's credit was shown to be £918s 3d by the balance-sheet. The directors' report stated that an arrangement had been made to sell the property to the Alpha Company, and the shareholders were to receive 15,000 shares in that company. WAIPORU G.M. CO. At the ordinary general meeting of the Waipuru Gold Mining Company, held yesterday afternoon, Mr. W. Gorrie presided. The balance-sheet showed the company to have £5916s lid to its credit. The directors' report stated the mine was now protected. Messrs. W. Gorrie and J. Smith, the retiring directors, were re-elected, and Mr. J. Smales was reappointed auditor. PHOSNIX G.M. CO. The annual general meeting of the Phoenix Gold Mining Company lapsed. The directors' report stated that valuable additional areas bad been obtained, thus increasing the property to 100 acres; while that of the working manager showed the total distance driven to be 960 feet. Gold had been obtained by pounding, and also from assays in the reefs intersected. The statement of accounts showed a credit balance of £14 lis 3d, in addition to which the sum of £191 13s was due to calls, and no outstanding liabilities, TAIROA PROPRIETARY G.M. CO. The annual general meeting of shareholders in the Tairua Proprietary Gold Mining Company lapsed. The directors' report showed that absolute protection had been obtained until December next, and the statement of accounts gave the credit balance as £264 Is 4d. The retiring directors, Messrs. Mahony and Amodeo remain on the board. WOODSTOCK NORTH G.M. CO. The annual general meeting of shareholders ia the Woodstock North Gold Mining Company, limited, took place yesterday. Mr. B. (J. Roberts in the chair. The directors' report showed that the property was under absolute protection to November 6, and the statement of accounts stated that there'was a slight debit balance of about £9. Messrs. R. S. Reynolds aui A. Robins were elected to the vacancies on the directorate, and Mr. W. Kayll was appointed auditor. CITY OF AUCKLAND G.M. CO. The annual general meeting 'of shareholders in the City of Auckland Gold Mining Company (No Liability) called for yesterday afternoon at the legal managers office, Mr. W. Clarke, Legal Chambers, lapsed, The directors' report stated that a free option to August 21 had been granted for flotation to the general manager of some English companies at the Thames, and should the option be accepted the holders would undertake to work the ground and maintain the titles at their own expense during the existence of the option. £45,000 working capital to be provided for. The statement of accounts showed a credit balance of £18918s 2d. Messrs. A. Wright and Duder retain their seats on the directorate.

BIG REEF G.M. CO. The annual general meeting of shareholders in the Hie Beef Gold Mining Company was held at the office of Mr. W. Clarke yesterday, Mr. A. Wright, Chairman of Directors, preaiding. The mine manager's report showed that the most important work had been that carried on in the No. 1 level, which was driven some 50 feet into the reef, when the rich run of ore met with some 70 feet above was struck. This level was now being extended, in order to prove the amount of reef still ahead, and its value. Various satisfactory tests had been made. The property and rights were now under offer to Messrs. Pollock and Johnston who held option to October 3rd, and expect to arrange » satisfactory flotation. The statement cf accounts shows a credit balance of £96 4s 9d. Dr. Wilkins and Mr. Blaikie, the retiring directors, offered themselves, and were re-elected, and Mr. £. Waymouth Wis re-appointed auditor.

HAURAKI NORTH G.M. CO. The directors' report presented at the teneral meeting of the Hauraki North Gold Mining Company called for yesterday afternoon stated that during the last six months 160 tons of ore had been treated, and had yielded 2040z lfidwt, value £578 lis 2d. It was expected that the work of deepening the shaft another 100 feet would be completed in about three months. This woula enable them to test virgin ground. The difficulty to connection with the working of the fore•bore claim - had been got over by the Minuter granting permission to work it from the present shaft by extending the western olive. . J.he company had also secured certain mining rights on land between the shaft and foreshore claim. The statement of accounts shows £27 cash m hand, and the 2t47 3 # 6d l 0" *° 00UIlt BhWed ' credic of

THE NATIONAL 6.M. CO. The half-yearly meeting of the aborecnmpany held yesterday at the office of Mr 8. T. Twentyman, Mr. T. Henderson pretiding.' The 1 balance in hand was shown to he £7138 Bd.; The Chairman stated that the calls wen now coming in well; operations - were about to cease,' and f application would shortly be made for protection. During the ' term of'protection '; it ; ,wa» r the intention of the company, to approach the Great United and the Brilliant Companies, with a view to discussing 1 terms of amalgamation. The /'rep«ti,«te.', were received. 'cvgrthmhuk••

CARDIGAN O.M. CO. The directors «f the above company met yesterday, and received the offer for the company's property, to which reference was made in the Herald ; the offer was accepted. The terms have not transpired.

GREAT BARRIER ISLAND.

COPPER ORE DEPOSITS. Mr. Cowem returned {ram a visit to the Great Barrier bland yesterday, after baying revisited the Miner's Head, with a view to using whether the copper lodes continued after the land had been cut off, or rather intersected bv a little bay,. Ac the Miners' Head it has long been known a large copper lode exist*. Mr. Cowers now, as a result of hit visit, states that the same lode is revealed, through a slip, in cliffs 700 feet high. The lode

makesitsappearanceingreatpatches. He lay I I he estimates that not leu than a million tons i of copper are there/and that 5 percent, extraction can be counted upon,, taking the lowest possible estimate. That would mean £3 per ton, crushed copper being worth about that per cwt _ There it alto, lays Mr. Cowera, an appreciable amount of silver, and a email percentage of gold. The continuation of the lode on the other side of the bay from the Miner*! Head has been traced, it is stated, for over a mile; then another lode at right angles has been found. Mr. Cowern further states that he has picked samples that go 40 per cent, of copper. Other lodes are being prospected for.

DOVER CASTLE G.M. CO. At the meeting of the Dover Castle Gold' mining Company, held yesterday, Mr. J. B. Fairs presided.— balance-sheet thawed a balance in hand of £19 7< 2d. The Chairman in answer t« a shareholder said there seemed very little probability of properties being taken up at present; the director* would, however, at an early date, lay before the shareholders a scheme for working the miie with local canital, The current call was earning in veil. In view of the retirement of Mr. W. T. Davis from the board it was dccided to invite Mr. R. C. Bishop of Canterbury to become a director in the interests of maey shareholders in Canterbury.

WAIOTAHI G.M. CO. Th« annual general meeting of the Walotahi Gold Mining Company was held yesterday afternoon, at the office of Messrs. F. A, White and Brothers, Queen-street. Mr. C. C. McMillan presided, and there was a goad attendance of shareholders. The directors' report stated that 1410 tons of quartz had been treated, and had yielded 18930z 18dwts of gold, out of returns, from which the sum of £1500 had beet paid in two dividends of 2s 6d each, and the main shaft retimbered 130 feet, leaving a balance of £201 16s Id to be carried forward. The directors regretted that in consequence of the collapse of the Home market and other circumstance*, the sale of the property in London fell through, and the question of refunding deposit as requested was held in abeyance till the documents were returned from London. The balance-sheet showed the receipts to have been £5318 10s 2d, and the expenses left a balance of £926 10s lOd, The Chairman said he did not remember for several years such an encouraging report, and they might fairly anticipate that for a long time to come they could expect steady dividends from the mine. The various levels were turning out gold, and an important discovery had been made by the mine manager in the ImperialCity reef. Mr. Charter asked if there were any doubt about getting the deposit. The Chairman said it was in the hands of the company, and legal advice obtained was to the effect that the money was undoubtedly the property of the company, but it was thought to be only fair to await the documents from London. If Mr. White wanted the deposit he would have to bring an action. The Chairman would assure the shareholders that nothing would be done before they were consulted. Mr. Dnfaur asked on what terms the property was offered in London? The Chairman said it was offered to Mr. White, and he could sell it for what he liked. There were certain rumours about town, and Mr. Dufaur probably meant, had the property been offered on such terms as to be unreasonable. Mr, White explained that he only atked £3000 cash above the company's offer, and 7000 shares. He claimed the return of his deposit, on the ground that the appointment of a supervisor delayed negotiations till th« dump came on. He had paid all his own expenses. Some of the shareholders agreed that Mr. White's price was not unreasonable. Mr. Charter contended Mr. White had no claim, and was not entitled to the £750 deposit. The Chairman pointed out that the directors thought it only fair to await the arrival of documents, and again told the shareholders nothing would be done without their knowledge. The reports and balance-sheet were then adopted. On the motion of Mr. Shaw a vote of thanks was passed to the directors lor their action at the ! time of the expiration oi the option, and a 1 vote of thanks proposed by the Chairman I was passed to Mr. Smith for his excellent management of the mine. Messrs. McMillan and W. 8. Wilson, the two retiring directors, were re-elected, and Mr. D. B. McDonald was appointed auditor.

THAMES SHAREMARKET. • [by telegraph,— own correspondent.] Thames, Friday. AlburnU East, sellers 6d; Club, sellers 4d; Cluaes, tellers 3d; Golden Horn, sellers 6d; Karaka Queen, sellers 4d; Kuranui, sellers 2d; May Queen Extended, sellers 7d; Moanataiari, buyers Us: New Golden Point, sellers 6d; Nonpareil, sellers 9d, buyers 7d; Waihi Extended, buyers Is Id ; Empress, tellers 6d. NEWS FROM THE MINES. [BT TKLEQRAPII.—OWN CORRESPONDENT.) Thames, Friday. KUVERA (PURU). Prospecting operations with the object of picking; up the Trojan line of reefs are being steadily advanced in this mine. Several nicelooking leaders have latterly been met with, but the lodes referred to are not yet discovered.

NONPAREIL. When breaking a portion of the Liverpool reef to-day in the second Btope westward of the crosscut about seven pounds of very fair picked atone were secured, and strong colours of cold were seen freely throughout the general dirt. The company's crushing, which is now proceeding at the May Queen Extended cattery will not be completed until Monday next.

POKIRt MINING. The Hit or Miss mine is being vigorously developed by the English Company who is now in possession of that property, and very favourable prospects are being met with. The Pnriri Gold Mining Company are driving upon their main reef, and expect an improvement soon, whilst the Dover Castle Company are extending their prospecting works with encouraging prospects. Vjeboa, Friday, WAITKKAUBI. The operations at the Kiln level are most remunerative just now. The good shoot of ore met with going north last month is being still operated upon. The reef is being broken oat for a width of _15 feet, and as the whole of the ore body is of good quality, and it despatched to the mill for treatment, the prospect is a bright one for the company. It also augurs well for the lower blocks, which are now to be opened up with as great expedition as possible. Extra facilities will be afforded in the accomplishment of this object by the operation of thenew winding and pumping machinery, which is working splendidly. To-day the plant was inspected by Mr. J. Coutts, mining inspector, who, I understand, was very well pleased nth it. Sinking at Ko. 1 shaft has been suspended for the present, as a large chamber is being cut out at No. 2 level, preparatory to orosscutting fo'r the lode. The No. 2 shaft, however, is being carried down as usual, and on this site the erection of a pumping and winding plant, similar to that at No. 1 shaft, has been commenced, so that ere long operations will bis conducted on a most extensive scale on both lections of the property. Sloping is still being carried on north and south of the main rise, at the kiln level; also at the back of G'orbett'ft level, and from these two sources a large quantity of payable ore is being passed. The lode met with last month id the western crosscut from Corbett's level is being exploited north and south, but the quality of the stone has not improved. It is itill of * whitish nature, and of low grade, though driving on its strike is to be vigorously prosecuted in order to. discover any good shoots of ere that may occur. The low level is also being advanced expeditiously by means of the rock drills, and the face during the month wu advanced over 80 feet, Mo new developments, however, occurred, but good driving country is being penetrated. The tenth new vat is now complete at the Waitekauri battery, as is also the additional sump for the storage of the solutions, so that on the whole the company should feel well satisfied that the working and development of their fine property is nnder the management of such a capable man as Mr. Davey, the company'* superintendent

GRACE DARLING. The development of the lode at the No. 2 or ISO-feet level is productive of good results, gold being occasionally seen in the stone when breaking down. This reef is to be well proved, so that if the property is taken over, m anticipated, by an English company, its thorough development will be an easy matter. • The mine manager of the Nonpareil wired yesterday:-" Secured7lb of 'picked stone from second stone. Crashing; will not be hushed till Monday." , ; ■