THE GOLDFIELDS.

New Zealand Herald, Volume XXXVI, Issue 11240, 8 December 1899, Page 5

THE GOLDFIELDS.

AUCKLAND SHAEEMARKET. The sharemarket was active yesterday. In investment lines, New Zealand Insurances were in demand at 625, and South British at 54s 9d. Hikurangi Coals were wanted at 6s 9d. Other investment shares were quoted at late rates. In mining lines there was strong demand for Talismans, sales being made at 12s up to 12s 6d, with a further demand at 12s 3d. Waihis were still wanted at £10, and Crowns at 16s 6d. In lowerpriced lines, May Queen Extendeds and New Whaus sold at 4d and 4£d, with buyers offering Id for both lines at closing time. Waihi Souths sold at Is 7d and Is 8d at the forenoon call, but in the afternoon parcels changed hands at Is 6d and Is 7d, with sellers ready for more business at Is 7d, buyers offering Is 6d. Waihi Extendeds were still in demand at lid, with sellers quoting Is. New Four-in-Hands were wanted at 4s 3d in the morning, "but at closing time buyers were quoting 4s 2d, and sellers 4s sd. * Other mining lines were quoted at late rates.

CYANIDE RIGHTS IN VICTORIA. Representatives of mining districts complained in the Victorian Legislative Assembly recently (says the Melbourne Age of November 25) that, as the result of the Full Court decision in the McArthur-Forrest cyanide patent case, writs had been issued against the proprietors of a number of cyanide works for alleged infringement of the patent rights, and that consequently the whole industry threatened to be paralysed. It was urged that, in order to avoid litigation, and to assist an industry which had assumed very large proportions in the colony, the Government should purchase the Victorian patent rights from the holder, the Australian Gold Recovery Company. The charge of a royalty of 1 or 2 per cent, would recoup the Government for the outlay, and the adoption of the course suggested would prevent hundreds of men from being thrown out of employment. Sir G. Turner expressed his readiness to consider any reasonable offer, and the agents of the company have now come forward with an offer to dispose of the Victorian patent rights to the Government for *331,000. This Sir George Turner would not entertain. He pointed out that the rights will expire in 1902, and that at the present time there is an appeal to the Privy Council pending against the decision of the Full Court, which allowed the company to amend its specifications. Should that appeal be successful the Victorian patent rights would be of little, if any, value, and even should the company win, the £31,000 would, in his opinion, be a ridiculously high price to pay. i

THAMES SHAREMARKET. [NY TELEGRAPH.—OWN* CORRESPONDENT.] Thames, Thursdav. Kuramii, sellers 2W ; May Queen H;mraki, sellers Is 6d, buyers Is 2d ; New Wliau, sales 4d, sellers 5d ; Victoria, sellers 6d ; Imperial, buyers Id ; Hunker's Hill, sellers lid.

DUNEDIN STOCK EXCHANGE. [BY TELEGRAPH.—riIESS ASSOCIATION'.] Dunedin, Thursday. Sales : Golden Point. 395, 39s 6d ; Hurtley and Rilev, 171s, 170s, 1695. 170s, 1655, 1665, 166s 6d, 1645, 161s 6d, 1555, 155s 6d, 1555, 151s 6d, 151s ; Macrae's Flat, 10s. Sales at premiums : Aliaura River, 4d ; Ernscleugh No. 3, 2s 3d ; Electric Extended, 5s 6d, 5s 9d ; First dunce, 7s 9<l; Gibbston, Is 6d ; Halfway House, lis ; Kelly and Casey, 2s 6d ; Leaning Rock, 6d: Meg and Annie. 8s ; Moa Flat, 3s 6d, 3s 4Jd ; River Molyneaux, 5s 6d ; Sailor's Bend, 19s 3d, 19s 6d ; Upper Magnetic, 3s 6d.

MINE MANAGERS' REPORTS. Hauraki Associated (Coromamlel, December 4): Payable results continue to bo mot with at the winze intermediate workings, and gold has again boon loft showing in different places. The leader maintains its usual size. Tlio country is slightly harder than that met with last week. The ore coming to ham! from the riso intermediate has somewhat improved in quality. The crushing will he completed during the week prior to Christmas, when a payable return may be expected. Tributcrs in the No. 1 section have been getting a few pieces of picked stone again, but nothing rich. Other two parties are working, but with poor results. Rising Sun (Owhnroa): The drive towards tlio winze is in a total distance of 147 ft from tho level. Tho country has changed from a bluo to a nice brown sandstone, interlaced with ironstone seams and mineral Hindis. Tlio country is all that could lie desired for gold, and thero is a ereat inflow of water from the face.

Alpha (Waitekanri, Deceinhor 2): During tlio week the eastern crosscut lias boon in stonily progress, and was advanced a further distance of Bft, total length from startingpoint 51ft. On the 30th a quartz bo'ly was mot with in this level measuring 18in in thickness along tho floor of the drive, but it liarrows down as it approaches tho back. Til testing the ore by pulverising and panning off, a fair prospect was obtained. The country on the hangingwall is similar in character to that already passed through. The contractors for the extension of tlio western crosscut have not made such good progress this week, having lost throe shifts owing to the large influx of water that was mot with on the 28th. This level has, however, been carried forward 22ft, total 257 ft. The country rook now being entered upon is not quite so kindly in appearance as was the case fur'her back, but I am in hopes that next week will reveal a change in its character.