THE GOLDFIELDS.

New Zealand Herald, Volume XXXV, Issue 10712, 28 March 1898, Page 5

THE GOLDFIELDS.

AUCKLAND SHAREMARKET. ISTE3TMEOT stocks were in good demand on Saturday, but there was a considerable difference between buying and selling quotations, and consequently very little business resulted. National Banks were wanted at 45s 6d but no selling quotations appeared. In insurance lines the demand was not so good, but New Zealand Accidents could have been placed at 235, and Standards at lis 3d. New Zealand and River Plates, which have been in good demand and have steadily advanced of late, were exchanged at 18s 6d, and closed firm with buyers 18s, sellers asking 19s. Auckland Gas (old issue) were offered at £14 17s 6d, and new (£3 10s) issue at £11 ss, but no buyers appeared, the only gas stock for which a demand existed being Gisbornes, which were wanted at 10s. Devonport Ferrys were again in good demand at 355, sellers asking 2s more. In coal lines 55s was offered for Westports, 20s for Tailpiris, and 8s 3d for Hikurangis, but sellers declined to quit at these prices. New Zealand Drugs (£2 shares) were again asked for at 48s 6d, Northern Boots improved, and could have been placed at 9s, but sellers would not entertain business at less than 10s. In mining several high-priced lines were in good demand. Waihis were asked for at 87s 6d but sellers would not quote! lower than 955. Grand Junctions improved and were in good demand, but no sellers were quoted, though business would have been done had there been buyers at par. For Woodstocks 20s 6d was again offered, and for Talismans 9s 3d, but sellers held for 22s 6d. and 10s respectively. Komata Reefs receded a little, buyers offering 7s. sellers declining to quote at less than 7s 9d. Several low-priced Oliinemuri lines were asked at for late quotations. In Thames lines Puru Consolidated showed a substantial improvement, there being firm buyers ab2s 5d and no sellers appearing. May Queens at 6s 9d, New Albumias at 3s, and Kuranui-Caledonians at Is lOd were tho other principal lines inquired for. In Coromandel lines Bunker's Hill declined, buyers offering Is. For Hauraki Norths (paid-up) 6d was offered, for Four-in-Hands (which were weaker) 4jd, and for Progress-Castle Rocks ljd.

TOKATEA CONSOLS G.M. CO. It is intended to have a trial crushing of ore from what is known as Erin's Hope leader, on the abovo company's property, and which is from 12 to 15 inches wide. The leader is situate on the western portion of the property, and some gold was obtained from this spot a short time ago. The main reef varies from six inches to one foot in width, and the quartz looks promising, It is intended to stope from the intermediate level, directly under tho present workings. On the cross lode stoping is proceeding, and it is anticipated that the quartz being won will prove payable. The north and south leader on the intermediate level ranges from four to five inches in width, and is said to be looking extremely well, gold being obtained by washing. There is every sign of an improvement hero, and the next crushing is expected to be a satisfactory one.

AOTEA G.M. CO. The work of pushing ahead the low level tunnel on the above company's property at the Great Barrier is to be proceeded with at once. It will be remembered that this property was worked under option by the Johannesburg and New Zealand Syndicate, who proceeded with the low level, but failed to reach the reef, and subsequently relinquished their option. From surveys made and reports received, the directors of the company believe that the lotto lode exists further ahead, and it is expected that this largo body of quartz will be reached in a few feet of driving. With this object the work mentioned is to be proceeded with, and as the value of tho adjoining property, the lona claim, would bo considerably enhanced by the cutting of the reef, tho directors of tlio latter company have decided to bear half tho cost of the work, which, should it result satisfactorily, would be for tho mutual benefit of the companies mentioned.

HAURAKI NORTH G.M. CO. .Sinking operations, which have been proceeding on this company's property for some time, are suspended for the present. The shaft is now down 215 feet, and it is intended to open out on the reef at the low (No. 3) level, which is 63 feet below No. 2. It is expected that with 40 feet of driving the face will be upon the run of gold, and that quartz of good quality will be obtained. Should anticipations in this connection prove to be correct, crushing operations will be commenced within the next month or so.