THE GOLDFIELDS,

New Zealand Herald, Volume XXXIV, Issue 10627, 16 December 1897, Page 5

THE GOLDFIELDS,

I'/ , *.... • W : jjV6A' r l. t ? AUCKLAND SHAREMARKET. ,";, There is no change of importance to record jn the condition of the market, which remains spiritless; and it is not anticipated that auy great improvement will be shown until after the holidays. Yesterday investment stocks were as usual in good demand, but no sales were recorded. • Auckland ' Gas, : old issue, showed an improvement,' buyers advancing to £14 15s, bud sellers declined to transact business at less than £14,175. ' Thames Gas also had an upward .tendency, buyers offering 39a, sellers holding for 40a, South British Insurance ' were', asked ' for -at 495, sellers decling .to quit at less than 525. In mining ' New Alburnias, doubtless owing to a report that an important discovery had been made in the low level hardened,-business being transacted at 4s, with buyers 3s 9J, sellers 4s 2d at last call. Buyers of May Queen-Haurakis offered 5s -2d, sellers asking 5s 9d. Moanataiaris were wanted. at 6s, Monowais 35.. Sheridans were in good demand, sales being recorded at Is 7d, with further buyers at'that figure, sellers holding for Is lid. ' In Upper Thames scrip Talismans were placed at lis 3d. Woodstocks were in demand at 17s 6d, sellers declining to quit at less than 20?. Grace Darlings were in demand at 2s, and buyers of Imperials advanced to 9Jd, sellers asking Is. Silvertons were wanted at Bs, Waibi Extendeds 6}d.

NEW ALBURNIA G.M. CO.'; . Operations on the above company's property are progressing satisfactorily, and- a discovery of what is considered to be an important nature has been mado. Mr. James Macfarlane, one of the local directors of the compauy, states that the following cable has been forwarded to the London Board by Mr. James, the mine manager" Level No. 5, Dixon's north-east: We are now crushing 30 tons per 24 hours. Samples can be found showing free gold, but the average is low." It is anticipated that the quality of the quartz will improve as the lode is driven on. JUBILEE G.M. CO. A special general meeting of shareholders in i the Jubilee Gold Mining Company (Limited) was held at the office of the manager, Mr. Charles Grosvenor, Bank of Mew Zealaud Buildings, yesterday afternoon, Mr. W. Lyell, chairmen of directors, presiding. The object of the meeting was the consideration of the desirability, or otherwise, of relinquishing the Jubilee Extended and Silver Veil special claims, which some time since were amalgamated with the Jubilee. After a brief discussion, it was unanimously decided, on the motion Mr. J. Coleman, to abandon the claims in question.

WOODSTOCK G.M. CO. ANOTHER GOOD CRUSHING. 2f TONS YIELD £359. The rich shoot of ore discovered in the Woodstock mine at Karanrahake continues to yield ore of spleudid quality, and another parcel of 2| tons has just been crushed and treated by pan amalgamation process by Messrs. Fraser and Sons at the Thames. The ore treated yielded bullion of the value of £359, being at the rate of slightly over £130 per ton.

NONPAREIL. [by telegraph.-own correspondent.] Thames, Wednesday. A good deal of indignation has been aroused amongst local shareholders at tho decision of the directors to suspend operations on the company's behalf in spite of the fact that the prospects of the mine warrant further development. A deputation of shareholders to-day waited upon the local director (Mr, H. J. Greenalade) in order to express their dissatisfaction at the decision arrived at, and in doing so stated they were quite prepared to pay any necessary calls for the carrying on of the mine. They pointed out that it would be a suicidal policy to shut down tho mine simply because the recent crushing of 42 loads bad only produced 270z of gold, and drew attention to tho fact that since the Liverpool reef was intersected at the low level, in April last, 186 loads of ore won and crushed from it had yielded no less than 3240z of gold, of a total value of £930, which was equal to nearly £5 per ton. They further urged that Mr. Cartwright's (the mine manager) services should bo retained, and two or three wages men employed, as it was believed that the mine would almost pay its way, whilst there was always the chance oT a pstcTT or gold "being met with" tor the locality-was a most favourable one. Mr, Greenalade,' 4 in reply, explained. that he was not present at the meeting at which the decision was arrived at, but promised to communicate with the directors on the sub- j ject.

THE HIKI SPECIAL CLAIM, [by telegraph.—own correspondent.] Thames, Wednesday. The proprietors of this claim, wliioh is situated near the head of the Kauaeranga rivei, havo just completed another trial parcel of four tons of ore for a yield of 320z fltlwt of melted gold, the approximate value of which is about £102. In this instance the ore was obtained from a reef formation about five feet in thickness that has been intersected by a crosscut put in immediately underneath the surface outcrop, from whence a crushing of two tons treated a short time back yielded 230z 19dwt of gold. It will thus be seen that the gold is making downward all right.

THAMES SHAREMARKET. [BY TELEGRAPH.— correspondent.] Thames, Wednesday. Adelaide, Boilers 3d; Alburnia East, sellers 2d; Argosy, sellers 3d; Kaiser (contributing) sellers 2d; Luranui, sellers 9d; Mata Reefs, sellers 2d ; May Queen Extended, sellers 4d; Molsaacs, sellers 2d; Moanataiari, buyers 6s; New Alburuia, sales 4s, sellers 4s; New Golden Point, sellers 3d ; Nonpareil, sellers 2d; Occidental, sellers 2d ; Puriri, sellers 2d; Puru Consolidated, sellors 2s 9d; Royal, sellers Is Gd; Sheridan, sales Is 6d. NEWS FROM THE MINES.' [BY telegraph.—own correspondent.] Paeroa, Wednesday. WAIHI silverton. The extension of the eastern crosscut is being pushed ahead as quickly as possible. Splendid progress is being made. The face is now along 70 feet, and it is anticipated that the reefs will be to hand in the early part of next year. t 1 ■ Coromandel, Wednesday, NEW QOLCONDA. In the winze on the upcast between No. 1 and No. 2 levels on No. I leader strong colours of gold were seen. It is hoped that further development work may reveal something more substantial. golden SHORE. ' j The requisite depth having been reached in the shaft, the work of opening out will be started, A short period should now prove the value of the lode at this level. The class of country rook is everything that could - be desired. jersey. ■ , , : Good ore is being taken out of the reef. The stuff is considered quite equal to that recently crushed. Thames, Wednesday. NEW ALBORNIA.

During the past day or two rumours have been currant of a new discoyery in this mine, but no definite information concerning the same was available to day,', .However, I waited upon Mr. Robert ' ' James, the general manager, and J questioned him upon the matter, wnen,' he v .informed me that he was somewhat * annoyed at the rumours prevalent and the numerous questions that wore -being -pat: to him. Shareholders, he said, could always rely on getting correct and prompt, information if anything of importance did occur at the mine. With respect to the alleged discovery of a new reef at No, 5 level, that rumour had probably, arisen through the fact that' Dixon's reef, where being driven upon at that point, had evidently effected a' junction with the Sons of Freedom reef, but as this had ■ only occurred a ; day :or < two ago, sufficient.- work - had not since been accomplished to ascertain the full import-1 ance or otherwise of the new development. In the meantime, however, Mr. /James is putting through the company's battery about' 30 tons of ore daily from this point in order to see if it will pay for turning over, for al- j though colours of gold are occasionally seen,; the general average is somewhat low. ! In addition to the above wore a crosscut is being driven at No. 6 level for the purpose of intersecting Dixon's reef. This work is being pushed ahead as rapidly as possible,' but at the present time very hard, blue .rock is being ; penetrated, which greatly retards; progress,' . • -, ! r •• :