THE GOLDFIELDS.

New Zealand Herald, Volume XXXV, Issue 10772, 6 June 1898, Page 6

THE GOLDFIELDS.

AUCKLAND SHAREMARKET. The market was quiet on Saturday, and no business was reported on 'Change. In standards there was no change, a fair demand existing. In mining, buyers of Mount Lyells offered £10 ss, but sellers still declined to quote. For Crowns, 16s 6d was offered, for Woodslocks 12s 6d, and for Talismans 8s 6d, but sellers would not quit at these prices. Waihi-Silvertons could have been placed at 6s Id, but the lowest quoted seller asked 6s 6d. Waihis were in good demand at £5, but there was no seller lower than £510s. Coromandel lines rhowed no change, Bunker's Hills and Royal Oaks being in demand at recent quotations. May Queens showed a slight improvement, buyers offering 5s Bd, sellers holding for 6s. Monowais were firm, with buyers 5s lOd, while New Alburnias could have been placed at 3s, sellers holding for 3s 6d. In Barriei lines, Gold and Silvers were offered at 2s 6d, and Barrier Reefs (paid-up) at 2s 2d, but there was no demand for either line. MOANATAIARI G.M. CO. The crushing of the ore won last month from the reefs in the above mine has been completed, but the retorting will not be finished until some time this week. During the month 25 and occasionally 30 head of stampers have been employed, and it is not J intended that the rest of the plant should j commence milling until ventilation is secured, so that the Cambria reef can be again worked on and opened up. This, it is expected, will take some considerable time. The Cambria lode is Bft wide at its narrowest part, and widens out to over 30ft in places, and some of the leaders striking into the main body are thought to be highly payable. At the present time ore is being obtained from the Golden Age and No. 2 Caledonia, and it is expected that at some of the breaks that are occurring good gold will be obtained, as on former occasions splendid quartz has been mined from where the break took place. I

Our Thames correspondent writes : — " The working staff in this company's mine was further reduced on Saturday, by the discharge of 22 miners, which makes a total reduction of over SO men within the past month. This step has been most reluctantly taken, but had to be done on account of many of the blocks of ground opened up during the past two years proving unremunerative. Consequently, it has been found that greater precaution will have to be exercised in the development of the property, and that only those blocks must be worked in which there is a likelihood of payable results being forthcoming. Of course, this curtailment of works in the mine will also have its due effect upon crushing operations at the battery, us it is not likely that the supply of ore which will henceforth be forthcoming from the miuo will he more than sufficient to keep 30 head of stampers employed one shift of eight hours per diem."

BAREWOOD REEFS (OTAGO). On the Barewood Reefs property in Otago, in which several Auckland companies are interested, three shafts have been sunk to a depth of 200 ft, there being about half-a-mile between each shaft. At the northern, or Scott's Gully shaft, a level was first opened out at a depth of 100 ft, and the reef driven on about 100 ft on each side of the shaft. The reef at this point is from 4ft to 6ft wide, and the stone is of a payable character. The option-holders were thus encouraged to prosecute their inquiries at a further depth, and another 100 ft was sunk, and the level opened out there. The level going north was extended 200 ft, and the south level 90ft. I The reef is similar in size and quality to the lode in the top level, but shows sighs of improvement. On the next (Ryley's) shaft, a chamber was opened out at 190 ft, and a crosscut to the reef commenced. This has been extended 25ft, and it is estimated that another 50ft will have to be driven to reach the reef. At Cunningham's shaft, which is at the southern end of the property, a crosscut has been driven and 60ft already'negotiated. It is expected that the reef will be to hand in another 12ft'of driving. The five-stamper battery is now merelj used for trial crushings. The large tunnel which it was intended to put in from the Taieri River and which, it was estimated, would cost several thousand pounds, has been stopped in the meantime.

MAY QUEEN HAURAKI. Operations on the Cardigan No. 2 reef in the above company's property are being continued, and the lode is said to look well. Occasionally a little gold is seen in the stone, and there is said to be every indication that a good patch of gold will yet be met with. On the Cardigan section the No. 2 lode is being driven on from the No. 6 level in the Saxon shaft, and as far as has yet been driven the reef runs from 15in to 2ft in width. The indications are favourable, and ore of fair quality is being met with.

PAY DAI'. [by telegraph.—OWN correspondent.] Coromandei,, Saturday. The immediate vicinity of Captain Hodge's office presented a very busy appearance today, when nearly 600 men received their monthly cheques, amounting to about £6000. Tins shows the magnitude of the operations carried on by the Hauraki group of mining companies. The general secretary (Mr. J. W. Lavington), from London, was also present, being an interested witness of the scene. The men were all paid within an hour. The pay-hour being after the bank's closing time business people had to be ready with change, in order to settle accounts. One publican alone, it is said, has a pile of cheques amounting to over £700 in value, which he has changed since the same were paid out to-day. It seems a pity the banks were not opened an hour or so after pay-time. This would be a much simpler plan than altering the hour of pay, as doing the latter would dislocate the shifts to a very great extent.

THAMES SHAREMARKET. [from our own CORRESPONDENT.] Thames, Saturday. Kuranui-Caledoman, sellers Is 8d ; Kurantli, sellers 6d ; May Queen-Hauraki, buyers 5s 6d ; Moanataiari, sales 4s, sellers 4s 6d ; Sheridan, sellers 8d ; Occidental, sellers 2d ; Waihi Consols, sellers 4d, buyers 3d. NEWS FROM THE MINES. [FROM OUR OWN CORRESPONDENT.] Thames, Saturday. NEW WHAU. Good progress is being made with the cleaning out and repair of what is known as Dunn's level in the Mountain Flower section of this company's property. A total distance ot 230 ft has been overhauled, which leaves about 75ft further to go to get into the leader upon which operations are to be com* menced. FUF.U CONSOLIDATED. Since this company's new battery commenced operations, crushing has been con-' tinued with five head of stampers, the water supply having been found insufficient to run | the 10 head. This defect, however, is apparently partly due to the cause that the fall of water from the terminus of the race to the turbine is not sufficiently great to provide the requisite pressure, but it is.probable that steps will shortly be taken to improve this state of affairs. Very little information is obtainable regarding how the ore has shaped which has been treated up to the present, but it is understood that the result* are satisfactory. This is especially the case with a parcel of 25 tons treated during the past week, which was broken in the leading stope upon the reef at No. 2 level, at a point directly overhead where the last run of gold was met with at the level in question. In consequence of this the manager (Mi. H. Brownlee) is proceeding with the development of that particular block as quickly as possible, in order that an increased supply of ore may be drawn from it. Two shifts are at work with that object, and when everything is in full swing the extension of the drive will also probably be resumed. At No. 1 level, the leading stope is being proceeded with as usual, the reef being about oft in thickness, and showing occasional colours of gold. Referring back to the crushing, it may be mentioned that all the tailings are being saved, and it is intended shortly to have trial parcels tested by different processes in order to ascertain which process is most suitable to be adopted as a final treatment. ■; . .. y T&UtES-HACIUKI. Since resuming the enlargement of the Queen of Beauty shaft a'few days ago, a further depth of about 10ft has been attained, and one set of timbers placed in position. So far as the surface portion of the plant is concerned a few little details are being attended

to, but as soon as the scow Havoc arrives with the new shipments of machinery lately arrived in Auckland per the Star of New Zealand and Waikato, from London, then a start will be made with a large staff of hands to put the same together with a view to completing the erection of the plant as quickly as possible. At the Deep Sinker section the northerly prospecting crosscut at the 450 ft level is now in a total distance of 226 ft, and the easterly crosscut 28ft. No improvement is noticeable in the country yet, but the lastmentioned crosscut is to be let on contract in a few days hence. The ventilation in the northerly crosscut has been somewhat defec--1 tive for some .time past, but this evil has now been overcome by the provision of a water I blast. This has been provided by making a I connection with ljin pipes.to the top pumping cistern, and carrying the pipes down a depth of 250 ft to the bottom of the shaft, where the wafer discharges through a #n nozzle into a bell-shaped - pipe, and from thence the air-blast thus provided travels through sin pipes right into the face of the crosscut. By this means a good current of air is supplied to (he men. In the Deep Levels Consolidated section, the surface main prospecting crosscut lias been cleaned out, and repaired, and a start made in the face to extend the tunnel.

SOUTHERN MINING. [BY telegraph.—press ASSOCIATION'.] GBEniotJTH, Sunday. Two more golden reefs have been struck at Paparoa ranges. The Progress Mines of New Zealand obtained 108807. sdwt of gold from 2645 tons ; Duller Dredge, 290z 17dwt of gold, for eight days: Dark, 550z 18dwt of gold from 160 tons cleaiHip. MINE MANAGERS' REPORTS. Harbour View (Coromandel, May 28): Still'continued stoping on Blue Peter leader. Leader is sin to 7in in width, and still carrying good prospects. Am hopeful of gettin" good stone in this stope; ground has good indications. I have banked 551b picked stone, and have about 2cwt of good crushing stone. Pukewhau (Coromandel, May 28)! Have commenced new stope this week; leader looks well. Gob 3lb of ordinary picked stone. Queen of the North (Tokatea, May .10): Driving in leading stopo west) from the rise, and the distance from riso is 13ft. In breaking down leader secured 291b of very good picked stono worth about £50 or more, and good gold showing at junction of calcite leader. Swedish Crown reef is split) into three ribs of quartz, and is looking very promising for gold, Have also cut the Peep-of-Day leader west of Swedish Crown reef. Matawai (Matawai, May '28) Cutting timber and putting in hopper for last week. Barrier Reefs (Great Barrier, June 2): Adit tunnel is now in 737 ft in good country for progress, and contract should be completed early next weok. No marked change in ground. Aotea (Great Barrier, Juno 1): Crosscut extended total distance 509 ft. Last 3ft of driving through best-looking gold-bearing ore I have yob seen in this lode, and from appearance of present face there is better ore ahead, Oro is of free milling nature.