THE GOLDFIELDS.

New Zealand Herald, Volume XXXIV, Issue 10520, 13 August 1897, Page 6

THE GOLDFIELDS.

AUCKLAND SHAREMARKKT. The market yesterday was quiet, although a fair number of sales were recorded. In Standards there wu a good demand at late quotations. In mining Kuraani-Caledonians were placed at 4s 4d. May Queen-Hauraki finned a little, being sold at 7s Bd, while Monowais found buyers at 2s Bd, at which price business was transacted. Moanstaiaris had buyers at 12s, New Alburaias at at Id, while Puru Consolidated*, Royals, and Victorias bad buyers at late quotations. Kapai-Vermont* were asked for at 4s 4d.' Hit or Miss were placed at It fid; Imperials at Is 2d. Waihis were purchased at £710s, while the scrip of surrounding property was also in good demand. Ohinemuris were done atsid; Mount Waihi at ljd; Waihi Monuments 2d, while Kxtendeds had enquirers at la 2d; Young New Zealand were disposed of at 3d Hauraki Souths were wanted at 3s, Bunkers Hill at Is sd, Four-in-Hands Is 3d, Welcome Finds Is 9d, while there was also a fair demand for low priced scrip. Great Barrier Gold and Silvers firmed, buyers advancing from 12s 6d to 13s, sellers being quoted at 14s. I

ASSOCIATED STOCK AND MINING BROKERS. Business in the following was yesterday transacted by the aboveMoanataiari fixtended. 2d; New Alburnia, Se Id; Imperial, Is 2d; Mount Waihi, 2d, lid, 2d; New Zealand Talisman, 18s; Waihi Monument. 2d; Waihi Welcome, 2Jd; Welcome Find, Is lid; Great Barrier Gold and Silver, 13s fid; Original Great Barrier Gold and Silver, Is; Kapai-Vermont, 4a fid. GOLD PURCHASES. {from odk own CORRESPONDENT.] Thames, Thursday. The local branches of the Bank of New Zealand and Bank of New South Wales purchased gold as follows, which was won from the undermentioned districts during the month of July :— BANK OF NEW ZEALAND. oz dwt Thames County 1051 0 Thames Borough 198 5 Total 1249 5 BANE OF NEW SOUTH WALES. oz dwt gr Thames Borough 16718 12 Thames County 69 0 0 Coromandel County ... 4113 0 Total "2781112

ANGLO-SAXON G.M. CO. The half-yearly meeting of shareholders of the above company, which was to have been held yesterday at Mr.G. Elliot's office, lapsed. The statement of accounts showed receipts £244 13s lOd and expenditure £234 7s 2d, leaving a credit balance of £10 8s Bd. The arrears of call were shown to amount to £90 3s 9d. The mine is at present under protection. J__ WAIHI CONSOLIDATED G.M. CO. I The erection of the new pumping engine is completed. The work now in course of construction is the fixing ot the cistern for the plunger and rising main and the lowering of the draw-lift. All this work should be completed and connections made about the first of next month. The increase of water baa of late caused much trouble and delay, the inflow being about 4500 gallons per hour. The prospecting work to be undertaken ii the driving of two crosscut to intersect the large ore bodies which were found in the upper level. The ore was of a low grade there, out judging from the good class of sandstone penetrated during the last 70 feet, it is anticipated that a higher class of ore will be met with.

STAR OF TOKATEA G.M. CO. A special general meeting of shareholders in the above company was held yesterday at Messrs. Cooke and Buddie's office. Mr. Thomas Neill (chairman of directors) presided, and there was a good attendance of shareholders.

The meeting was called to confirm the action of the directors in appointing Mr. J. F. Buddie as legal manager, in place of W. R. Waters. On the motion of Messrs. Booth and Field, the action of the directors was confirmed.

The Chairman said that since the late legal manager had severed his connection with the company, a special audit had been made by Mr. Buddie, of the books and register of the

company. According to the renort which was read, the receipts had been £547 Bs, and the expenditure £447 10s 9d, leaving a credit balance of £10117s 3d. The sum of tllOO had, however, been debited to the company, and paid in to the credit of the Star of Waitekauri Company, so that the actual credit balance of the Star of Tokatea was £117s 3d. There were accounts outstanding to the amount of £90 4a 3d.

A shareholder asked what the directors hid been doing to allow the affairs of the company to Ret into such a mess? The Chairman replied that instructions had been given that a letter should be forwarded to the bank stating that cheques should be signed by the leial manager and one of the directors, but that letter had never reached the bank. The account was made out in the name of the late legal manager in trust for the company. No meetings of directors had been held, as no work was proceeding on the company's property. Mr. Buddie stated that uo balance had been prepared and that no audit of the company's books had been made. After discussion it was resolved that the lease should be offered for sale at public ; auction.

It was stated that there was no possibility of obtaining repayment of the £100 from the Star of Waitekauri Company.

GENERAL MINING ITEMS. _ From the monthly analysis of gold production in the Witwatersrand (Johannesburg) district we learn that during May 200,9090z of gold were produced, valued at £705.969. The famous Robinson mine again headed the list, producing 15,454nz of bullion, valued at £54,711; the Crown Reefs produced 11,4600z, valued at £44,443; and the next on the list was the City and Suburban, producing 11,5060z, valued at £42,008. Mr. G. D. Ingall having tendered his resignation to the directors of the Tokatea Consols Gold Mines, Limited, it has been accepted, and Mr. D. G. MaoDonnell appointed to succeed him as colonial attorney. _ The Victorian sharebrokers are complaining because, under the existing Victorian law, mining shares cannot be transferred in London, but must be transferred in the colony. The Victorian Attorney-General has promised to look into the matter. Iu the Australian Mining Standard appear interesting articles on " Gold; its Occurrence and Extraction," by the Rev. Joseph Campbell, now of Te Aroha, Illustrations are given of quartz from mines in the Hauraki Peninsula. The South African Mining Journal has the following reference to Mr. Sorensen, local attorney for Melville's Corporation .—" Those interested in New Zealand mining will be glad to learn that Mr. S. S. Sorensen, who did such good work as manager of the Marie Louise and New Midas Estate mines, has quite recovered from the illness which caused his departure from the Rand, and has established his office at Auckland, New Zealand, as general manager and consultant for the Melville's New Zealand Corporation and its subsidiary companies. Mr. Sorensen's excellent record in electrical, mechanical, and mining engineering on the De Kaap fields, and here ensures the acquisition by the expanding Australasian mining industry of a good man."

THAMES SHAREMARKET. [FROM ODB OWN CORRESPONDENT.] '■■:■■- ' ■ Thames, Thursday. Argosy, tellers 7d; Club, sellers 3d; Comet, tellers 2d; Darwin (paid up), sellers 4d ; KuranulCaledouian, sellers ft ; Karaka Queen, < sellers 4d; Kuranui, sellers Is 3d; Matt Reefs, sellers 2d; May Queen, seller.i Bs, buyers 7s 6d; Mclsaacs, sellers 2Jd; Moanataiari, buyers lis 9d; New Alburoii, sales s*. sellers 5s 3d; Hew Whau, seller* 7d; New Golden Point, sellers sd; Occidental, sellers 3Jd, buyers 2id ; Puriri, sellers 4d; Royal, sellers Is 6d; Sheridan, sellers 2s 7d; Tararu Greek, sellers 2s 9d; Victoria, sellers 2s, buyers Is lOd; Empress, sellers 3d.

NEWS FROM THE MINES. [IT xklesbaph.—own correspondents.] Thames, Thursday. cm or AUCKLAND.

A new reef was intersected to-day in the main crosscut at the Sylvia low level, which crosscut is being extended into the hangingwall country of the Sylvia main reef, in order to ascertain what quartz bodies exist in that direction. The reel intersected to-day was met with at a distance of about 10 feet from the Sylvia reef. It has been cut into' about three feet, without meeting with the opposite wall, and it composed of a rubbly class of quartz, with a little mineral distributed I through it No geld was seen.

;,•■••' • 1Z •• , -.' VICTORIA. . ■' '" ' '. The away value 6f the 103gr 9dwt of gold banked by this company's manager yesterday proved to be £2 15s 8d per ounce, which brought its total value up te £287 let 7<L

I OCCIDENTAL. A firm bat favourable class of country continue! to be met with to the North Star crosscut towards the Loyalty reef, and the Utter body should be intersected, provided it keeps its uatial course, within the next 60 or 60 feet of driving.

PCBIRI. This company is pushing the drive ahead on the new reef recently discovered. At present the reef is divided into 'two'branches, but they appear to be converging towards each ether more now than they nave previously done, and will probably junction a short distance further ahead,

' GLOUCESTER ' " The new main shaft which is being sunk by this company has now attained a depth of over 50 feet, and still continues to penetrate a firm class of sandstone, A few days ago a small "head"of soft ground was met with dipping in.from the hillward side of the shaft, from which, for a short time a considerable amount of water flowed, but it has since greatly abated, and no difficulty whatever is being experienced in dealing with the flow of water now making from the seam.

HAT QPEEN EXTENDED. The drive south upon the course of the cross reef from the bottom of the winze in the Ouehuhga section has been advanced a distance of about 10 feet, with the reef varying from eight to ten inches in thickness. The quartz bears a very promising appearance, and has shown colours of gold, and judging from the class of country prevailing, further improvement should be met with shortly, as it is anticipated that other quartz leaders will be found orossing the larger body as the drive advances.

NEW ALBORNIA. The various works in progress in this mine are being pushed forward with great celerity, and from the productive workings ore of a most remunerative character still continues to be won. Excellent headway is being made with the reopening of the old workings at No. 5 level upon the Sons of Freedom reef, and it is anticipated that a large supply of ore will be available from that source shortly. The contractors in the shaft have now attained a depth of oyer 60 feet below No. 5 level, and everything is being done to push forward that work as fast as possible, in order that the opening-up of another level may be commenced.

NEW WHAU. The contractors are making very fair headway with the extension of the drives north and south upon the course of the Sons of Freedom reef, considering the fact that the reef in both drives is of large dimension, and composed of solid quartz. In the northern drive the reef ranges from five to six feet in thickness, and in the south drive about four feet. As yet no gold has been observed in the quartz, but the latter looks fairly well, and an improvement is likely to occur at almost any moment. It may be mentioned that at the level upon which operations are now in progress there is a total length of about 1400 feet to drive upon the course of the reef referred to, and Mr. Radford, the manager, considers he has an excellent chance of meeting with the continuation of no less than four different runs of gold within this distance. Paeroa, Thursday. GRAND JUNCTION.

In order to procure additional steam power, one of the boilers from the Waihi West was removed to the Junction shaft today. It will be at once placed in position, and the low-level explorations prosecuted with a view to picking up the much-coveted Martha lode, which now appears to be within easy distance.

MINE MANAGERS' REPORTS. Princess (Karangahake, August 9).-Low level driven further distance of 11 feet, making total 279 feet. Waihi South (Waihi, August 9).— Eight feet driven for week. Ground very hard and flinty. Water is just about the same, We have qnite as much as we can find steam for. Hauraki North (Coromandel, August 11). —Shaft sunk and timbered a total distance of 15 feet. Country verging on hard rock, but works fairly well. Working between crosscut and No. 1 level, cleaning out old workings to determine position of Anderson leader. Kurandi (Thames).— Winze on Hunt's reef sunk total distance IS feet. The reef widened out to 12 inches, and looks really well. Country is all that could be desired, and I would not be surprised to meet with gold at any breaking down. Cuvier Light (Cabbage Bay, August 7).— Driving on both new reefs. They continue about the same, and stone looks welL Biggest reef gives best gold prospects from stone by washing. New Munsteb fl'e Aroha, August 7).— Have stripped surface off reef for 40 feet. Reef 30 feet thick. Some quartz is heavily mineralised; other white quartz, carrying little gold. Cuirassier (Waikoromiko, August 9).— No. 2 lode is two feet at present, and I think is about to junction with No. 1 lode. Have started rise on No. 2 lode 50 feet from first rise. In breaking down secured 251b picked stone and specimens, making 501b now in band. Bio Reef (Thames).-At the creek leve driving carried on on course of reef. Gold obtained by pounding for whole 10 feet. Country encasing reef sandstone of excellent escription.