THE GOLDFIELDS.

New Zealand Herald, Volume XXXVI, Issue 11148, 22 August 1899, Page 6

THE GOLDFIELDS.

| AUCKLAND SHAREMARKET. Tee Bliaremarket was fairly active yesterday. Standard stocks were in good? demand at about late rates. New Zealand Insurances sold at 60s, with more offers at the same figure. National Insurances were wanted at 16s 9d, and at closing time, at 16s 6d, with sellers holding for 17s. Taupiri Coal mines changed hands at 20s 6d, with more in demand at 20s, sellers quoting 21s. In mining lines buyers for May Queen Haurakis were offering 6s 4d, but sellers were firm at 6s 9d. Kauri Freehold Gold Estates were wanted at 15s 6d, with sellers quoting 20s. Grace Darlings eased a little, buyers quoting Is lid. New Zealand Talismans were sold at 13s 9d, with buyers offering 13s 6d for further business, but by closing time sellers had advanced to 14s. Mount Lyells (Tasmania) firmed, and were in demand at £11, sellers not quoting.

BULLION SHIPMENT. The National Bank of New Zealand forwarded to Sydney by the Westralia yesterday for transhipment to London, two boxes and five bars of bullion valued at £11,300. COROMANDEL RETURNS. [by TELEGRAM. —OWN correspoxdext.] Ooromandel, Monday, The following returns from the Coromandel group of mines are to hand: — HAURAKI. Hauraki treated 135 tons of ore and 531b of picked stone for 170oz 15dwt of gold, valued at £517 4s 7d. KAPANGA. Kapanga treated 57 tons of ore and 1481b stone for 2530z 16dwt of gold, valued at £715 18s 6d scout's. Scotty's treated five tons of ore and 1471b stone for 1240z 18dwt of gold, valued at £360 2s 6d. KOrAL OAK. Royal Oak treated 120 tons of ore and 1511b stone for 151oz ldwt of gold, valued at .6383 18s 4d. A PROFITABLE RETURN. (91 .TELEGRAPH.— ASSOCIATION.] Nelson, Monday. News from Collingwood states that the Golden Blocks, Taitapu, have crushed 102 tons of stone for 408oz melted gold. TALISMAN EXTENDED. Important development work is proceeding on the Talisman Extended mine at Karangahake, and so far the results have been satisfactory. It was recently mentioned that a reef had been discovered since the London and New Zealand Exploration Company took over the property. Promising results have been obtained, and in driving on the lode good pannings have been obtained. It is intended to continue this development work, and important results are confidently anticipated, as so far there has been every indication that the property will in time prove a valuable one.

WHANGAMATA GOLD CORPORATION. THE OPERATIONS PROCEEDING. IMPORTANT DEVELOPMENTS. The development work now proceeding on the property of the Whangamata Gold Corporation, at Whangamata, is resulting very satisfactorily, and crushing operations are pioceeding, one Krupp mill being fully employed, while the other is employed at intervals—as the dried ore is available from the one rotary drier in use. The assay value if the vat charges is slightly better ' than last month. It was recently men- | tioned that a new vein had been discovered ! on the property between the low level and the battery. Mr. A. H. Curtis, the general manager, had noted indications of the • presence of a lode, and had given instructions to put in a trench. This was done, 1 with the result that a promising reef, ran- , ning from Ift to 18in wide, was intersected. The vein has given assays ranging from £2 to as high as £14 per ton, but it is anticipated that the quartz should give an average value of £3 per ton. It is now intended to put two short crosscuts in to cut the vein, for such, it is believed to be, at a depth. This will give about 100 ft of backs, increasing as the hill rises. At the ' mine work is proceeding as usual, about 40 men being employed. The Krupp mills are giving every satisfaction, and improvements and changes are contemplated, that should enable increased returns to be obtained. The presence of the vein referred to should enable the management to trace the main reef over the property, as it is ttlieved that the smaller quartz body leads i into the main lode. Mi'. A. H. Curtis, j who has just returned from a visit of in- ' spection to the property, reports that every- 1 thing is progressing satisfactorily at both , mine and crushing plant. i

NEW FOUR-IN-HAND G.M. CO. There is nothing fresh to report regarding this mine at Waikoromiko. The reef is still split up. but is confidently expected to make again when the break in the country is passed. All the quartz is beinjj put through the battery. The clean-up will take place at the end of the week. _ MAY QUEEN EXTENDED. It is anticipated that before very long crushing operations will be resumed at the May Queen Extended battery, which consists of 23 stampers. If the development work to be undertaken results as satisfactorily as is anticipated, the property should be heard of again in the near future. IRONCAP (THAMES). Those directing the development work on the above company's property recently decided to increase the area of the holding, and, with that object, have taken in another 25 acres b'etween the Ironcap (late Kaiser) and Young New Zealand claims. This brings the area up to 75 acres. CROWN EXTENDED AND ROYAL MAIL PROPERTIES. On the above properties, at Karangahake, on which development work is being pi osecuted under the superintendence of Mr. A. H. Curtis, work is being carried on as expeditiously as possible. There is said to be every probability that the extension of the Talisman and Dubbo system of reefs will be picked up, and the finding of the former is now considered almost a certainty.

WiITEKAURI UNION CLAIMS. With reference to the purchase of the Waitekauri Union claims and plant by the Waitekauri Gold Mining Company, for the sum of £575, it may be stated that about £17,000 was expended on the properties. The aircompressing plant alone cost £1000, the pumping machinery, and the roads £120, At £575 the property and plant was a bargain. AUSTRALIAN MINING. _ A private cable message was received in Auckland on Saturday from Melbourne, which indicates that there has been a considerable advance in the price of some of the mining shares in Australia, Mount Lyells are quoted at £10 12s; Lake View Souths (West Australia), £2 10s; and Chillagoes (Queensland), at £2»ls 6d. Mount Lyells have also advanced, end are now quoted at £11 (buyers). 1 MAY QUEEN HAURAKI. Thames, Monday. Operations in the May Queen section were delayed during Friday and Saturday last, owing to a mishap that occurred to the winding machinery, but as the matter was at once placed in the hands of Messrs. Price Bros., the necessary repairs were effected in time for work being resumed with this morning's shift. A contract has been let for resuming the sinking of the May Queen shaft, in ordf" - to open up No. 8 level, and the sinking of the winze upon No. 4 ieef, below No. 6 level, has also been resumed. The annual inspection of the winding engine boiler, at the Saxon section, commenced to-day. PUBLIC BATTERY FOR COROMANDEL. Coromasdbl, Monday. The erection of a public battery at Coromandel is assured. The total amount required for a small plant to be erected under the auspices of the School ot Mines is £800. Of this amount the Government have promised £500, the Council £200, and the general public, by subscription, £100. Captain Kenrick, who headed the deputation to the County Council to-day, asking for the grant of £200, stated that it was not intended to ran the battery on commercial lines, but to charge just enough to pay working expenses, and cost of wear and tear. He "said that'the grant of £200 by the Council .would prove a good investment J>y

that body, as the duty on 150oz per annum would more than pay the interest on such sum, As the battery will be worked in conjunction with the School of Mines, it will prove a valuable adjunct to that institution. OTAGO GOLD DREDGING. [BY TELEGRAPH. —PRESS ASSOCIATION.] Duxedix, Monday. During the past week returns have been reported from 26 dredges the total gold yield being 18550z 2dwt 6gr, or an average of over 71oz per dredge. Two of the returns are below lOoz, and seven below 20oz. The Alpine return was 65£oz; Empire, 21oz. THAMES SHAREMARKET. [by TELEGRAPH.OWN CORRESPONDENT.] Thames, Monday. Broken Hill, sellers 2d ; Kuranui, sellers 3d, buyers ljd ; Mahara Royal, sellers 2s 3d ; May Queen Hauraki, sellers 7s, buyers 6s 6d ; New Albumia, sellers Is Id ; Victoria, buyers 7d.

DREDGING COMPANY QUOTATIONS. [BY TELEGRAPH.— ASSOCIATION.] Duxedin, Monday. The following are the Stock Exchange quotations for shares in dredging companies :— Adams' Flat, sellers Is premium; Alexandra Lead, buyers 4s 4Jd, sellers 4s 6d premium ; Alpine Consols, buyers ss, sellers 5s 6d premium; Alpine No. 2, buyers 5s 6d, sellers 5s 9d premium; Blue Duck, sellers Is 8d premium; Cardrona No. 1, sellers par; Cardrona Valley, buyers Is discount, sellers 6d premium; Central Electric, sellers 13s premium; Charlton Creek, sellers 5s premium; Chat-to Creek, buyers £1 15s 6d, sellers £1 16s 6d; Clyde, sellers £2 16s; Cromwell, buyers £1 premium ; Dunstan Lead, buyers 9s, sellers 10s premium ; Electric Extended, buyers 3d discount, sellers par; Enterprise, buyers £3 10s; Ettrick, sellers 15s 3d; Evans' Flat, sellers £1 ss; Fourteen-mile Beach, buyers par Gold Queen, buyers Is 6d, • sellers Is 7|d premium; Golden Link, sellers 6d discount; Golden River, buyers 4|d, sellers sjd premium; Golden Run (paid), buyers £1 13s 3d, sellers £1 14s; Golden Run (contributing), buyers 13s 6d premium; Half-way House, buyers Is 'premium; Hartley and Riley, sellers £6 Is; Inch Valley, buyers £2 Is 6d, sellers £2 2s; Klondike, buyers 6s 6d premium; Magnetic, buyers £3 2s 6d, sellers £3 3s 6d; Matau, buyers £4 ss; Moa Flat, sellers Is 6d discount; Molyneaux Hydraulic Company (Dredge A), sellers 6d; Monte Cliristo, buyers par; Naumai, sellers 3s premium; Nevis, buyers £1 lis, sellers £1 12s 6d; New Alexandra, buyers 17s 6d, sellers 19s premium; Ophir, sellers 18s; Richards' Beach, sellers 7s premium; Second Magnetic, sellers 5s 3d premium; Spring Yale, buyers 3d discount, sellers Is premium; Sunlight, buyers £1 Bs, Sellers £1 10s 6d; Upper Magnetic, buyers Is 3d, sellers Is 6d premium; Upper Waimumu, sellers 6d discount; Upper Waipori, sellers 2s; Vincent, buyers £3 15s; Waimumu, sellers £1 Bs.

MINE MANAGERS' REPORTS. Broken Hill (Waiomo, August 14): The winze being sunk at the No. 2 level lias been in steady progress. The lode operated upon j looks well, and is producing a good olnss | of ore. There are about 40 tons stacked from I this section of the mine, and the results obtained by assay have proved that the ore is of a high grade. Maratoto (Marototo, August 17): The following 19 a statement of the work done in the mino for the week ending 17th inst.: — No. 1 lovel—The winze has been sunk 4ft, making its total depth 37ft. Hore the lorio is still being broken out to an average width of 3ft, without any sign of the footwall, and the best ore is still obtainable a; Ihe ■ south end of the winze, showing that tho ! rich shoot is dipping in that direction. No. I 2 level This level has been extended Bft, 1 making its total length 551 ft, and the distance remaining to bo driven in order to reach under the winze, according to our measure- ' ment, iB 14ft. In the present faco the lodo is now a solid body of ore, carrying a little ' gold, and it is being broken out to an average ! width of sft, without any sign of either of I the walls.