THE GOLDFIELDS.

New Zealand Herald, Volume XXXIV, Issue 10628, 17 December 1897, Page 6

THE GOLDFIELDS.

AUCKLAND SHAREMARKET. A MIR demand itill exists, but the volume of business transacted remains small. Investment stocki were in good demand. Auckland Gas, old issue, were exchanged at £14 15s, with sellers £14169, and no further demand. Buyers South British Insurance advanced to 49j 6(1, but sellers declined business at less than 51s 3d. Other lines were iu demand at recent quotations. In mining, New Allmrnias, which showed a sudden rise on the previous day, dropped, sales being recorded at 3s W aud 3s 6(1, with sellers 3s 6d, at the close buyers declining to give more than 3s 3d. Sheridans were still in good demand, and saw business at Is 9d and Is lOd, with buyers Is 8d aud sellers Is lOd at last call. May Queen Haurakis were wanted at bs 2d, Moan&cairis at 6s, and Mouowais 3s. Buyers of Imperials offered 9Jd, but sellers declined to accept less than Is. Talismans were asked for at 11s, Waihi-Silvertons Bs, Waihi Extendeds 6|d, and Portseas Bd. Waihi Consols were exchanged at ljil. Woodstocks showed an improvement, buyers offering 18s (id, sellers riling to 225. Iu Coromandel scrip, Four-in-Hands were wanted at 5d and Coromandel|Freeholdsat4d.~Barrier, Wharekeraupunga, aud other lines were neglected. ASSOCIATED STOCK AND MINING BROKERS. Business in the following was yesterday transacted by the above:—Monowai, 3s 3d; Great Barrier Gold and Silver, 3s, 2s Oil,

WOODSTOCK G.M. CO. 1018 TONS YIELD £3187. IMPROVED AVERAGE. INCREASED SUCCESS WITH WET CRUSHING. During the four weeks ending December 4, the Woodstock Gold Mining Company, crushed and treated 1018 tons for a yield of bullion valued at £3187, this being inclusive of 2| tons of rich ore, ot the value of £359 treated by Messrs. Fraser and Sons, of Auckland. The average for this month asain shows improvement, being ovbr_£3 2s 7d per ton, Last month 1020 tons yielded £3171, or an average of £3 It 2d; the month prior 1015 tone gave £2765, or an average of £214 a Gil; in the five weeks before that 1170 tons yielded £3060, the average then beiug £2 12s 3d. It is also very satisfactory to note that further experiments with wet crushing have proved even more successful than at first, 895 per cent, being recovered by the cyanide process, and the tailings have still to be run over the amalgamating plates, which hitherto have averaged five per cent. The directors intend to make a trial of two Frue vanners (concentrators), which have been lent for the purpose in order to concentrate the mineral which has put in an appearance during the last two or three months in the low levels of the mine.

GOLDEN SAND G.M. CO. Mr. Jesse King, managing director of this company (in which large interests are held in Auckland), has returned from Wcstnort, and reports that the Chairman (Mr. N. Alfred Nathan) accompanied him and started the buttery, and that although everything is not in proper going order (a common occurrence in starting new plants) somo 193 tons of cement had passed through the mill before Mr. King left, and on the 6th December it was expected that the battery would be going with three shifts, and would put through some 50 tons a day if there was no hitch. The cement in the faca,is said to be looking well, and men accustomed to this work declare it to be good crushing dirt. Although only dwts per ton are looked lor in this class of material, before Mr. King ieft the copper plates, having some 36 feet of spreiid, were showing amalgam, and it is confidently expected that the yield of gold will be quite up to anticipations after the curing of the plates, which are known to absorb gold at first largely, ROYAL SHIELD G.M. CO. A special general meeting of shareholders of the above company was held at Messrs. White Brothers' office yesterday. Mr. W. Caron presided. The company having decided to continue operations, the following gentlemen were elected directors, viz., Messrs. W. S. Wilson, W. Uarou, C. F. Partington, J. McKerras, and E. Barker. It was stated that it was intended to resume operations as soon as possible, and for this purpose a call would be made forthwith. TE PUKE GOLD REEFS. In reference to tho treatment of ore for this property, an expert, who has visited the place, says it must be by cyanide; the wet orushing system now so successful at the Crown mines will be adopted. It is said that at the highest estimate of 20a for crushing and treating there will be a good margin of profit. The manager writing under date December 11, says: For the past week we have driven further distance of seven feet on the reef going north. This makes a total distance of 123 feet trom the No. 2 adit level, or including 80 feet driven from the adit level south, a total of 208 feet on tho footwall of the reef, which continues to look well, and last assays from previous fortnight's work are £2 Hβ and £4 0s 7d. THE CYANIDE PATENT. A telegram was received yesterday from the Hon. A. J. Cadman, to the effect " that a new section has been added to the Cyanide Bill reading as follows :—' So long as sections 8 to 14 in this Act continue in operation, no action or other proceeding shall be brought against Her Majesty to impute the validity of the said patent rights, or any of them. , I think you will see that so far as arrears are concerned, this will not affect anybody questioning the Cassell Company's patent rights; it is to prevent anyone attacking the Crown." Mr. R. R. Hunt also received the following from Mr. W. F. Massey: "Crown and other companies which compounded with Cassel's Company are free of further royalty."

ADELAIDE. [Br HLKQRAPH.-OWN CORRESPONDENT.] Thames, Thursday. A nrushing of 11 loads of quartz was completed for this company to-day for a yield of 15oz 13dwte of melted gold, the value of which is £47 17s. It ia understood that this company intend suspeuding operations for a short period after the end of this week, MAY QUEEN. Thames, Thursday. Newdick and party, who are working a tribute block upon a small leader between Nos. 1 and 2 levels in the May Queen section completed a crushing of 16 loads a few days ago for the excellent return of 51oz 17dwt melted gold, the total value of which was £140. KAISER. Thames. Thursday. It has been ascertained that the May Queen Company's battery will not be available for treating a parcel of ore from this company's mine uutil after the Christinas holidays have passed over, consequently the intention to put through a crushing next week has been abandoned. NONPAREIL. Thames, Thursday. A meeting of local shareholders is' to be held to-morrow evening for the purpose of taking into consideration the action of the directors iu deciding to close down the mine alter Saturday next. The feeling here is that the directors are acting somewhat unwisely in the matter. MOANA CLAIM (MERCURY BAY). .Thames, Thursday. The trial crushing of half a ton of ore from this claim was recently crushed at the May Queen Company's ■ buttery for 7oz 7dwt melted gold. The gold proved t<> be of exceptionally good value, as it realised at the rate of 67s per oz, or a total sum of £2412s sd. .

THE SHEKIDAN MINE. [from our own correspondent.] .Thames, Thursday. What is believed to be the downward continuation of the main Sheridan reef has been intersected at tho low level at a distance of about 1150 feet from the surface entrance. Prior to its intersection, however, two gold-bearing leaders were passed through, from which some very nice picked stone was obtained, the leaders ranging from 1 to 5 inches in thickness. Immediately after passing through them the footwall ot the main reef was met with, and this has since been cut into for a distance, of about 3J feet without as yet meeting with its hanging wall eide. This body carries strong ribs of most promising-looking quartz, in which a few colours of gold have been seeu. but so little work has so far been accomplished that much cannot be said about its value. It may be stated, however, that an excellent dps of sandstone was met with prior to the intersection of tho reef'and its accompanying leaders, and the fact that the ore is goldbearing speaks well for the prospects of the block that is now under course of development, whilst ic also leads to the belief that similar good results will attend the openingup of the other reefs that exist in the property when that work is undertaken later on at this low level. It may also be .stated that fully 150 feet of vertical backs will be obtainable upon all

the reefs from the low lerel up to the No. 3 level, whioh at present is the nearest available working, so that it will be seen the compauy has a very large block of ground at their command from the low level._ The only other work proceeding in the mine at the present time is the extension of No. 2 level to intersect what is known as Jamieson's reef. That work is being proceeded with as rapidly as possible, and the prospects of meeting with payable ore in it are considered to be very good. The company's battery is consequently idle until further progress hus been made with the development works now in hand.

CHAMBER OF MINES. A meeting of the Council of the Chamber of Mines was held yesterday, when there were present: Messrs. H. Brett (presided), N. A". Nathan, G. Gorrie, J. Chambers, R. R. Hunt, J. C. D&vies, Graves Aickin, D. B. McDonald, W. R. Blomfield, James Russell, etc. REPORTS. The goldh'elds committee reported as follollos:—Mining Act: The committee find it unnecessary to take steps ns directed at the last meeting of the Council, with respect to this measure, as it was satisfied it would uot be pressed forward this session. The Council had expressed a desire that legislation in this direotion should be postponed to the next session, in order that in the meantime a suitable measure of a permanent character should be prepared. It will now be the duty of the Council to follow up this suggestion.—Mining Companies Act: This Bill lias passed both Houses. Sunday Labour Prevention Act: This has been passed by both Houses, in an amended form. Your committee suggested that pumping operations necessary to keep the mine clear of water and bad air should be exempted from the operation of the Act. The effort made to do this failed, as it was alleged that the powers granted to the inspector authorised him to act in such cases. It must be manifest to all, that such pumping would only be carried on when necessary to enable work to be promptly resumed on the Monday morning, and the requisite trouble attendant on applying to the inspector might have been avoided, without in any way hampering the object of the Act. The Cyanide Act: The Council suggested three amendments to this Bill: (1) That any payments made to the Cassel Company should cover all claims for arrears; (2) that the provision excluriiug other process in which cyanide is used be struck out; (3) that the charge for royalty should uot exceed 1$ per cent. From the telegraphic reports published in the papers, it would appear that the Bill has been amended to meet the last two suggestions, while the Cassel Company is limited to a per cent, in any claim it may make for arrears. It is to be regretted that our proposition that all such claims should be covered by the purchase money has not been adopted. Taxation on Income of Mining Companies : The proposal to tax mining companies 5 per cent, on the whole of their profits was strenuously opposed, and the measure providing for doing so has been permitted to stand over. The Government in the past has only collected from all companies 5 per cent, on half the the amount of dividends declared, and has intimated its intention of continuing the practice. If this had been clearly laid down in an enactment this session it would have been belter, but pressure of other business is understood to have presented this being done. It is unnecessary to point out how all concerned in mining are interested in retaining confidence of outside investors. The success of operations is largely owing to the investment of English capita! and will continue tu be so. It must therefore be patent to everyone that on this point of taxation it is highly desirable that there should be no uncertainty in the minds of English investors. The President said during a recent visit to Wellington he had a long conversation with the Minister of Mines re the Mining Bill, and Mr. Cadman was desirous of getting a good workable Bill; he wanted suggestions from all parts of the colony. In Otago there seemed to be an opinion that nothing would meet with the approval of the Government unless it went from a Government supporter. Mr. Cadman wautcd suggestions whether from friends of the Government or not. As to the taxation of mining companies' profits, what was stated in the report had been confirmed by telegrams from the Premier and Mr. Cadman.

The report was then agreed to. FINANCE. The statement of accounts presented by the secretary showed ft balance of £25816s lid. PAYMENT OP MINERS' WAGES. A communication was received from, the Chamber of Commerce re the payment of miners' wages. Complaint, the latter stated, had been made that storekeepers were unable to meet their engagements through irregularity in payment or wages, some of the companies holding them back for weeks together; the miners' wages bbing paid in cheques drove the men to the hotels in order to got the cheques cashed, which reully amounted to the payment of a heavy discount. The cooperation of the Chamber of Mines was asked to get wages paid in coin and weekly if possible; in no case to exceed two weeks. The Secretary (Mr. Kisaling) said some of the parties interested seemed to think to do as was asked would mean a very great inconvenience. Mr. Nathan said the storekeepers complained that they suffered great inconvenience ; that the men went down to the nearest townships to get the cheques cashed, and in some cases unless the storekeepers followed the men down they could not get their accounts paid. The President thought it would be very difficult to get what was suggested carried out.

Mr. Chambers thought the matter came within the scope of the ChambeJ. Mr. Russell: Not unless it emanates from the men, I think. The President said they knew in very many cases the banks had to send down men once a fortnight nr once a month, as the case illicit be. It would be very inconvenient aud expensive to send down every week. If a man did not want to pay, it would mean the same thing whether he was paid by cheque or cash. Mr. Russell said most of the men were paid fortnightly, Mr. Nathan said his firm sent out several hundred pounds in cash to storekeepers to meet the cheques of their customers. Mr. Goi'i'ie said the evil was indiscriminate credit.

Mr. Russell said the superintendents of the Waihi and the Waitekaurj Companies had been written to on the subject. Mr. Barry, of the Waihi, had replied »3 follows :— "The following serious objections exist to the adoption of this system by this company, and when the question of payment according to the Workmen's Wages Act, 1893, was raised some little time ago, and all thia company's employees signed a book agreeing to the system of monthly payment by cheque, in a number of instances an opinion was expressed spontaneously by the men in favour of the continuance of this system. Owing to the absence of a bank, the nearest bank being at Paeroa, there would be a very considerable difficulty, and possibly danger, in always maintaining a sufficient sum to meet the necessary payments. Should the payments be made weekly it would entail a very considerable increase in the clerical work, in fact, the work would be nearly quadrupled. The present system of payment by cheque is a considerable safeguard against mistakes. Not a single complaint has ever been made here against the present system of monthly cheque payment. In any exceptional cases where any application has been made for an intermediate payment, such application has always been complied with. Owing to the large area over which the houses extend, some of the employees would be put to no little inconvenience in having to call ouce a week on a stated day, and in office hours, to receive their wages, as the hours of their shift would render it difficult for them to reach the office in proper hours, and unless it regular day once a week was observed, it would lead to delay, confusion, and possible errors." Mr. Davy, of the Waitekauri Company, had replied giving the principal objections to the suggestion of weekly payments in cash : " 1. Risk in the transmission of the cash from bank at Faeroa to Waitekauri, a distance of 13 miles. 2. Increased risk in transmission and payment of employees at the mine, a distance of 4J miles from company's office at Waitekauri. 3. If Incal office time-book and p:iy roll for Auckland office have both to be signed by each employee as at present, there will be a considerable loss of time to the company in payment each week. 4. That it will be impracticable to compileipay roll for Auckland office, transmit it, and await its return, as at preseut, prior to cash beiug remitted to Paeroa agency of bank. 5. No complaints have beep made of the present method. Any further information you may require on the matter I will be able to give you personally as I expect to be in Auckland on Thursday." Mr. McDonald said he knew of cases where miners had not been paid for a good many weeks, though it was uncommon. He did not think the suggestion made would make Id worth of difference.

Mr. R. R. Hunt, speaking of the Crown Mines, said Mr. D»w had written to say he could not see his way to falling in with the suggestion. Most of the men were on monthly contracts aud the wages men had never expressed any desire for shorter payments than at present. He (Mr. Hunt) had replied to the Chamber of Commerce that aa far as the Crown and the Aroha mines were concerned the underground work was carried on by contract, which had to be measured np before payment. In the Crown it took two clays to do this and another day to calculate the amounts. To accede to the request would take the clerical staff half their tune.

With regard to cash payments, this wai done where wages meuwere concerned, but at outside places, where there were no banks, thev were in the habit of sending cheques, and they did not very well see their way to alter it. Iα answer to a question, , Mr. Russell said they paid fortnightly in the Waihi; in the case ol the Waitekaun, if coiu was paid, the men wonlrt have to go several miles from theUolden Cross section. The President thought the storekeepers were moving in the wrong direction. If the men were paid weekly they would_ have a good time once a week instead ot once a Eventually it was left to the president and the secretary to draft a reply to the Chamber of Commerce. MR. JI'GOWAJJ AND ENGLISH CAPITAL. Mr. McGow&u, M.H.R., said he saw by newspaper reports that he had been grossly misrepresented at one of the meetings of the Chamber, when it was stated that he was opposed to English capital. He empnatically denied that he had mnde such a statement as that imputed to him. Mr. Russell said this was a matter which affected him personally. Mr. McGowan had written to him on somewhat the same lines. He iutenderl to reply to this to Sir. McGowan, aud also in the public press. That Mr. McGowan did make the statement he was satisfied, and he had written toMr. McGowan to tell him so. No motion wa3 proposed, the matter being a personal one, and Mr. McGowau's wishes being met by the reading of the letter in the presence of the representatives of the press. THAMES BHAREMARKET. [by telegraph.—own correspondent.] Thames, Thursday. Adelaide, sellers 3d; Argosy, sellers 2d; Kaiser (contributing) sellers 2d; Kuranui, fellers 9.1 j Mata Reefs, sellers 2d; May Queen, buyers, 5s 2d; May Queen Extended, sellers 4d; Mclsaacs, sellers 'M ; New Alburnia, sales Us fid, 3s Sd, sellers 3s 6d; New Golden Point, sellers 2d ; Noupareil, sellers 2d; Occidental,sellers2d; Puriri, sellers 2d; Puru Consolidated, sellers 2s 6d; Victoria, buyers 7d. news from the mines, [by telebrafh.—own cohrespun dents.] Paeroa, Thursday. WAITEKACRI. . At the Waitekauri Company's No. 2 shaft the Tangye pump is doing good service, the water being rapidly diminished. It is now 45 feet below No. 1 level. BIIBBANK. Operations are to be resumed on the Burbank property, Mr. Howe, the manager, haying returned, and he will prosecute driving forthwith. GRAND JONOTION. The new shaft in the Grand Junction section has been carried down a depth of about 170 feet; but pumice formation is stil 1 being penetrated. With regard to the west section the shaft has been enlarged down to the water level in accordance with iustructions received from Home, but with the present machinery the water cannot be lifted in order to allow work to be resumed, consequently work will be at & standstill here for a time. KOMATA REEFS.

There is very little water in the race just now, consequently crushing operations are considerably retarded, in fact there is just enough water to drive 15 head of stamps at a very slow pace. This difficulty, however, will very shortly be obviated as a steam engine has beeu acquired, and is now on the ground, to that after the holidays the water power will be supplemented by steam. Thames, Thursday, MAIIAIU KOYAIi. Very encouraging prospects continue to attend the operations in progress in this company's mine, and no difficulty is being experienced in keeping up a sufficient supply of ore to keep the new lOstamper battery employed full time. At present the main supply of ore is being drawn from the stopes, where the reef is in places fully 11 feet in thickness, add shows colours of gold throughout. The northern drive is still being pushed forward, the reefs ranging from 18 inches to two feet in thickness, aud showing colours of gold at every breaking down. The southern drive, however, is at a standstill just now owing to the fact that a slide recently made its appearance at that end, aud had the effect of cutting the reef off. What is believed to be the reef formation has since been met with, but it has been deemed advisable to suspend further driving at that point at present aud instead try to pick up the continuation of the reef in the Fluke section on the other side of the bill, which work is now in progress. The next cleaning up at the battery will take place early next week. So far as can be seen the return is likely to be very similar to the oue obtained last month.

PAEROA WARDEN'S COURT. [BX TBLKQBAPH.—OWN CORRESPONDKKT.] Paeroa, Thursday. At the usual sitting of the Warden' a Court to-day the following applications were granted by Mr. R. 8. Bush ;- SPECIAL CLAMS. Waitekauri Gold Mining Company, Timnel claim, Waitekauri; J. B. Paiu, Komata Reefs Extended special cliiim, Komata. MISCELLANEOUS APPLICATIONS. J. Mcßae, resilience site at Waihi; S. Femberton, residence site, Marototo; E. Fiiiser, residence site, section 51, Waitekauri : \V. E. Chmiey, residence site, Marototo ; C. R. Hill, residence site, Marototo; F. M. Brown, residence eite, Marototo: 6. Marks, residence site, Karauguliake; Waihi Gold Mini iip; Company, sawmill area at Waikino ; Waitekauri Extended (Limited), permission to cut six kauri trees; M. H. Chapman, residence site, Marototo; Waihi Gold Mining Company, timber reserve at Waikino; Royal Standard Gold Mining Company, permission to drive a tunnel 450 feet through the Sceptre special claim, Whai'ekeruupuußa; W. (J. Wright, residence site, Waitekauri; T. McDonough, waterrace at Komata; R. A. Fleming, residence site, Tewhariki; C. H. Lyford, residence site at Waitekauri; T. C. Lake, residence site, Wajkiiio; W. J. Page, residence site, Waihi; Robert Rose, residence site, Waitekauri; John Torren, permission to cut timber at Waihi; B. Prior, residence site, Tewhariki; E. Murphy, residence site, Mackaytown; Annie Robinson, residence site on Tavistock, Tewhariki; E. Roycroft, residence site at Waihi; W, J. Brown, residence site at Bulltown ; E. Brodie, residence site lit Waihi; J. A. Brown, special site, Wainmte; J. Brennau, J. McUuire, and H. Smith, river claim, three men's ground, Komata; A. J. Thorpe, residence site, Waihi; H. E. Tibbey, residence site, Waihi South; C. 11. Graham, residence site, Waihi South; Waitekauri Gold Mining Company, machine site and special site of five acres, each at Waitekauri; Komata Reefs Gold Mining Company, water-race, three miles, Komata stream, granted subject to conditions.

ABSOLUTE AND PARTIAL PROTECTION, T. A. Gorrie, four months' protection, Key of Komata special clnim. The granting of this application was objected to by Mr. Mueller last Court day on the grounds that a considerable amount ot wages waa due to the men. To-day Mr. Mueller intimated that the wages had been paid, the demands of the men having been met in full. The application was therefore granted. Sterling Gold Mining Company, six months' protection for Sterliug special claim, at Karangahake, grauted. Waitekauri Prince Gold Mining Company, permission to work the Waitekauri Prince Extended licensed holding with one mau for four months, and Waitekauri Prince special claim with two men for four months, granted. Rising Sun Gold Mining Company, three months'protection for the Rising Sun special claim, Owharoa, granted. VVaihi Gladstone Gold Mining Company, six mouths' protection for Waihi Gladstone special claim. Mr. Porritt appeared on behalf of the company, mid showed thin; the company had been incorporated in Great Britain, and since the commencement ot operations had expended £'2763 iu developing the ground without any return. The company was working under partial protection. The company could not, he said, further carry on work until additional capital had been subscribed and protection was required in order to collect calls, etc. The Warden said he could not see his way clear to break through his rules, consequently he granted permission to the company to work tho property with live men until the expiry of the present permission, namely, February 20. An application tor protection could then be lodged. John McClelland, permission to work the Colewinsor Extended licensed holding with two men for four months, granted; Waihi Consols Gold Mining Company, per- , mission to work the .Waihi North and Haines-Morrin special claims with two men respectively for four months, granted; Alpha Gold Mining Company, permission to work the We Three, licensed holding, Waitekauri, with two men for four months, grauted; Grafton United Gold Mining Company, permission to work the Grafton licensed holding, Waitekauri, with four men for four months, granted; Prince of Waihi Gold Mining Company, permission to work Prince of Waihi special claim with two meu for four months, granted for two months; H. M. Shepherd, permission to work the Eliza special claim at Te Puke, with two men for four months, granted for three months j Deep Lead Gold MiAing Company, permission to work Deep Lead special claim with two men for four months, granted; J. M. Lennox, four months' protection for •Warwick special claim, granted; W. H. Atkin. permission to work Great London special claim with one man for two months, granted; Key of Komata, Limited, permu-

skm to jrprk Hibernica special claim vitt eight men.for two months, granted. " WITHDRAWN. The implication of the Woodstock Gold MiiiingCompany for the extension of a water race we withdrawn, costs Being allowed thi objectiig company (New Zealand Crown). . j KADBI TREKS. Quitd a uumber of applications were madi for kau-i trees, but in each case an adiontn ineut w»s made. The Warden made it very clear that Is per 100 feet would be charged W.G. K. KENRICK V. G. S. BODGE? ' Claim £8 9s ad, professional services ten dered. Judgment for amount claimed, \fjJJ costs. BECEITEK OF GOLD REVENUE V. CHA&Us COLLINS. Claim, £8 15s. for rent due on Premier special jlaim. Judgment for complaimnt with costs, 11s. " • 7 PALMJR AND CLARE V. C. D. SERJEANT Claim, £10 10s, for cutting survey line, etc., on ihe Queen Annie and Bristol special claims. Judgment for £5 ss, with costs, Ik was givet in connection with the Bristol". INSPICTOR OF MINES V. J, M. BOSS," Ifor forfeiture of Nero special claim. Forfciture detreed, with costs.