THE GOLDFIELDS.

New Zealand Herald, Volume XXXIV, Issue 10594, 8 November 1897, Page 6

THE GOLDFIELDS.

, ■ AUCKLAND SHARBMARpT.I,. On the whole the market showed a alight . improvement last week, though business was confined -'to a few lines. On Saturday few ■ales were recorded.':'! Investment 'stocks, which hare been in good demand during the week were still enquired for, National Banks had buyers at 41s 6d, sellers asking Is more. Insurance stocks were m better demand; South British being inquired for at 525, New Zealand Accidents 209, Nationals 17s 6d, and': Standards iat 155.. New }'■ Zealand Insurance were ;' placed at 71s 6d, and further'lines could have been sold at that figure, sellers holding for 72s (id, New Zealand and River Plate had buyers at 14s 6d, Devonport Ferrys at 33s 6d,Taupiri Goals 21s 6d, Hikurangi Coals 8s 6d, and Northern Steams 6s 9d. The stocks of gas companies were not inquirad lor. In mining very little business was transacted, and scrip showed scarcely any change. Kaisers (contributing) again saw . business at 3d. May Queen-; Eaurakis eased a little, best buyers ottering 5s 9d. New Alburuias also declined, buyers offering 2s 9d, sellers holding for 3s _ Cd. There were buyers .of- Puru Consolidated at'2s 4d, Monowais and KuranuiCaledonians at 2s 6d. Buyers of Waiotahis appeared, offering 38s, but sellers declined to quit at less than 403. Sellers of RapaiVermonts dropped to 3s, but best buyers offered 2s 6d._ Imperials and Ivanhoes were wanted at higher figures. Talismans were asked for at 12s 4d, sellers declining business at less than 13s. Portseas were wanted at Bd, sellers holding for a higher figure. Woodstocks could have been placed at 18s, sellers asking 21s. There were sellers of WaihiSilvertons at 10s, no buyers appearing. Coromandel Freeholds showed a slight improvement, there being buyers at 3d, sellers asking 6Jd. Other Coromandel scrip was easier, and Wharekeraupunga, Whangamata, and Barrier scrip showed no material change,

ASSOCIATED STOCK AND MINING ' BROKERS. Business in the following was on yesterday transacted by the above Cuirassier, 24d: Four-in-Hand, 10id, lid.

WAIHI CONSOLS G.M. CO.

WORK TO BE RECOMMENCED.

| Negotiations for the sale of this company's | property not having been completed, and the time for the arrangement of the same having expired, the directors had decided to resume operations on the company's account, and work will be commenced at once. It is intended to put a new prospecting shaft down in as favourable a position as possible, from which a drive will be continued with the object of intersecting the Welcome and Martha lodes. The fact that in the Waihi West section of the Grand Junction property a . lode believed to be one of the reefs now being operated upon in the Waihi Company's_ property, and the draining of which is said to have cleared the Waihi mine of water, was intersected* together with the obtaining of similar results in the Grand Junction property, has proved that the reefs are not confined to the Waihi Company's ground, though it is generally admitted that in the adjoining properties they will have to be sought for at a depth. Work on the Waihi Consols' property will bo commenced at once.

r NEWS FROM THE GREAT BARRIER. i On the Great Barrier development operaj tions are progressing at the various mines with satisfactory results. On the Great Barrier Gold and Silver Company's pro- ' perty work is being continued with a re- ■ duced _ staff of men. The reef is said 1 to maintain its usual size and quality, the 'quartz looking very well. The Barrier Reefs are engaged sinking the shaft, now being down over 120 feet. The low level to intersect Lee's reef is in about 360 feet, and the country continues good. On the Mount Argentum property sinking on the reef was proceeding, but owing to the large volume of water to be contended with operations have been temporarily suspended. The shaft is down 60 feet, and the lode, which has yielded some promising-looking stone, is going down strong, and is still very large on the bottom. The drive on the lona property has now been extended over 310 feet, while driving operations at two levels are proceeding on the Kaitoke property. On the Staffa the work detailed last week is proceeding, but the development of the lona property will give the Staffa a good indication as to the exact direction in which the drive should be extended. The original Great Barrier and Aotea properties are being exploited by the Johannesburg and New Zealand Exploration Company, and it will not be long before the reefs sought for should be intersected. The Melville Corporation are conducting operations on the Gold and Silver Estates property, and the fourth, monthly payment of £100 required to bo made under the terms of the option has been placed to the credit of the company. Prospecting operations are being continued on several parts of the island, but nothing further is being done in the matter of working tho copper mine at the north of the island and the Awaroa antimony block. THE PERMANGANATE GOLD RECOVERY PROCESS. ' All the_ shares in the syndicate formed to work this new'process {a description of which appeared recently in the Herald), have been taken up, several of them in Auckland. NONPAREIL. Thames, Saturday. T(ie 51oz 14dwt of gold banked by this company yesterday realised at the rate of £2 16s per ounce, the total value being £153 3s 2d. This company's last crushing of 45 loads was broken wholly from the Liverpool reef, the greater bulk coming from the atopea abovethe low level, and the balance from the winze recently sunk beneath the level. .Operations in the winze, however, are now at a standstill, on account of the inefficiency of the ventilation at that paint, but stoping is proceeding as usual above the level, and a very fair class of ore, in which colours of gold are seen, is coming to hand. The manager, Mr, E. Cartwright, purposes resuming operations shortly upon what is known as the Wade reef, at the same level. This latter body is already opened up for a length of from 80 to 90 feet, but before permanent stoping can be commenced upon it, the drive requires to be cleaned out, timbered, and the passes formed, which work will be started early this week. Trial crushings of ore from this reef, a short time ago, proved it to be a body well worthy of further attention, so that as its development is proceeded with, there is every probability of remunerative results being obtained. THAMES SHAREMARKET. [BY TELEGRAM, —OUR own CORRESPONDENT,] Thames, Saturday. Adelaide, sellers 3d; Alburuia East, sellers 2d ; Clunes, sellers 2d KuranuiCaledonian, sellers 3s; Karaka Queen, sellers 2d: Kaiser (paid up), sellers 6d; Kuranui, sellers Is: Mata Reefs, sellers 2d; MoIsaacs, sellers 2d; Moanataiari, sellers 9s; New Golden Point, sellers 4d; Nonpareil, sellers 3d; • Occidental, sellers 3d; Tararu Creek, sellers Is 9d; Victoria, sellers lid; May Queen Extended, sellers 3d. / NEWS FROM THE MINES. • [BY TKHQRAPfI.-OWS CORRESPONDENTS.] ~ Thames, Saturday. ' ORLANDO. j-'Vt; "7 ' The intermediate drive from the winze upon the seaward course of the reef has been extended a total distance of about 17 feet. During, the week the reef has been divided into two branches, and his scarcely looked as well as it did prior to the division ocourriug, but notwithstanding tho defect colours of gold were seen' at each breaking down, and there are now indications of the reef-coming together and making into a compact body again. : t , • o v.; j; . MAY QUEEN EXTENDED. •£ The new.ore body that was intersected on Monday last in the crosscut towards . the Hague-Smith lode in ' the Onehunga section ; proved to be- about two feet in thickness. Of this fully 12. inches of the hanging wall ; portion is composed of an excellent class of - quartz, which is being saved for treatment, 1 for it carries a good deal of copper, zinc ; blende,; and other favourable mineral, and • also _shows coloum of'gold.' The footwall 1 portion of the reef, however, is of a some- J what flinty character, and consequently is not worth saying, f Good sandstone country 1 encases the reef on both walls, Driving 1 upon its southerly course will be proceeded < at once, a .' in that direction it is antici- < pated that a junction will eventually take •< place » with the Hague-Smith lode, which f ahead ' a Very great distance further

H . thames-haobaki.V V . to chronicl/tfc; ''"''i that is of importance . to chronicle this week regarding the works .in progress upon the Queen of Beauty shaft site in connection with the ; new puinpfne and winding plant . The nsual headway haS been made with the various works, both regards those in progress in the ,nr ace, and those that are proceeding in the shaft at the 327 feet level in connection with the pumping : gear, and everything is being pushed forward with the utmost speed. All the brickwork around the boilers has been completed * and also the construction of the mam flu' eonnectinß r ■ the s several J boilers} with the main) chimney • stack," so • that there now only .remain a few .odd jobs to complete

in that .line; and consequently the staff of bricklayers has. been'reduced very considerably. V; Very little has been done during the week regarding the erection of the machinery, owing to the parts required not being to hand, but about 64.tons of material) comprising pipes, quadrant gear, valves, ' etc!;' arrived here this morning per the scow Perseverance, from Auckland," into which it had been transhipped from the s.B. Star of England, that arrived in Auckland from London on Monday last. With respect : . to the sinking of - the shaft .'in the . Deep * Sinker section of the company's property that work is proceeding as usual, but rather slower headway has been made this week than usual, owing to the rock penetrated being of a much firmer character than that hitherto met with. The only change to report regarding the prospecting crosscut in the; Deep Levels Consolidated section is that a large flow of water has been, met with, 1 and Mr. Dunlop has decided to suspend operations at that point • for - a few days until the flow abates.,. There is no change yet as regards the class of ground, which still continues of a broken character. ' • '

..'.V ':'.. i Coromandel, Saturday. ■ | • . • THE 'STERLING. ''.! ' : . r The Sterling dredging claim comprises 100 acres, and covers the surface chiefly of the Hauraki North special foreshore claim. The Sterling is covered by the waters of the Coromandel Harbour at high tide. j! There is a layer of likely-looking silt of;-about six to fourteen feet all over . the claim.'; Operations are being carried, on just at present' by Mr, J. P. Brunton, civil .and mining engineer, who has a party of men working under him with a view to testing the value of the silt prior to ■ the establishment of extensive works, if such be- deomed advisable. As Mr. Brunton puts it,. "It. is a big thing .or That is to say, if the tests are considered thoroughly successful, a very extensive plant of modern design will be erected on the ground, in order to treat the silt and washdirt in a wholesale way. Very exhaustive tests are now being made of its value, but at present Mr. Brunton will pass no opinion as to 'the prospects of the venture, The ground for years has been receiving the residue of the tailings of the Hauraki battery. .' ,

bunker's hill. , A nice new leader has been cut in No. 1 level north-east crosscut. It is full of antimony, pyrites, and silica. The quartz is very friable, but no gold has yet been seen in the stone; but, other than its intersection, no work has been done on it. Possibly later on the manager will test it move by driving. This is not near the specimen vein whioh was found some tune back. The specimen vein continues small, but still carries gold plainly visible in the stone. Driving is now proceeding upon it from the bottom of the winze in No. 1 level. Paeroa, Saturday. GRACE DARLING. Cleaning up from recent test crushing of 50 tons of ore is now taking place and the result should be known in a few days. It is stated that the ore treated promises to give a payable return, and if so it is probable that the option holders will close in and take over the property. In the meantime operations are confined to the No. 2 level, at the back of which two rises are being carried up to tho surface for tho purpose of securing better ventilation for the lower workings, and also filling for the stopes. One of these rises has just been commenced at a point about 300 feet south of crosscut, and where operations are in progress the lode is about three feet six inches wide. The second rise has attained a height of about 35 feet, and is located about 40 feet further ahead than one just referred to. The reef here shows to great advantage, being about eight feet in width, The stone is of a payable nature, free gold being visible in stone. Tlif.se works will be pushed ahead expeditiously, so that everything will be in readiness for the conduct of extensivo explorations, if the option holders acquire the property on behalf of capitalists interested.

PAEROA WARDEN'S COURT. [BY TELEGRAPH.—OWN CORRESPONDENT.] Paeroa, Friday, Mining Inspector v. Harley: This was a complaint laid against the defendant in the Warden's Court for carrying on business at Waihi without a business license. The case was adjourned from last Court day. His Worship said although he thought according to the strict reading of tho present Act the defendant ought to take out a separate business license, yet it would be unfair to compel him to pay another £3 beside the £5 he already pays, whilst others paid only £3. He would therefore take an equitable view of the case, as well as give defendant the benefit of any doubt there might be in the matter. The case would be dismissed. WardenßushonNo-LiabititvCompanies. —Matters in connection with Wo Liability companies were being discussed in Warden's Court, when the Warden took occasion to remark that it would be good thing if, when No-Liability companies found that tho demand on their > resources was more than tho _ income would allow, they ceased to exist. He contended that these companies should. bo placed on the samp basis as those in Victoria, where if a no-liability company failed to. pay cash for everything they received,, it was compelled to go" into liquidation; In New Zealand, however,' miners very often had to'go without their hard-earned wages simply because of the construction .of the No-Liability company, and he thought it would be advantageous to all concerned if tho companies in question were forced to pay cash or else go into liquidation. < : Important to Legal Managers.—'The Warden referred to the habit of legal managers waiting until the expiration of a permission granted to work with less men before making a fresh application if additional protection were required. The consequence was that it was a month before the case could bo heard, and then those concerned expected the full time-applied for. He wished it understood, however, that he would not grant the application as desired. If three months' protection or partial protection were applied for, and; say : three weeks or a month had ' elapsed from the expiration of the old grant to the time the application came before him, he would deduct the ono mouth taken without the consent of the Court, and only grant the two months. This practice of legal managers, which was now so common, was simply a dodge to get an additional term of protection, and he, as Warden, would put a stop to it. in the manner indicated. Every application that came before Mr. Bush yesterday was therefore dealt with in this way, and where he discovered that the regulation had already been taken advantage of for three or four weeks, as the case might be, lie deducted this period from the term of protection applied for, and then granted the reduced period.

SOUTHERN -MINING. [BY TKLKQUAPII.— association,] Rekfion, Sunday. The Alpine Extended return is 420z of amalgam from 310 tons clean up. •