THE GOLDFIELDS.

New Zealand Herald, Volume XXXVII, Issue 11534, 20 November 1900, Page 6

THE GOLDFIELDS.

AUCKLAND SHAREMABKET. The market was quiet yesterday. In investment lines buyers of New Zealand Banks advanced to 225, no sellers quoting. There was fair demand for most other stock at late prices. In mining lines Monowais experienced a smart rise, sales taking place at 3s, and late sellers, quoting at 3s- 9d, as against 2s 6d at first call, with further buyers at 2s 9d. In Upper Thames; lines brisk sales of Waihi Extenders were made at 2s lOd, 2s lid, and 3s, sellers closing at last price with buyers at 2s lOd. Waihi Souths were done at Is. Buyers of Komata Reefs were offering 2s 2d, sellers 2s 4d. Waihi Grand Junctions still had steady demand, late buyers offering 475, without sellers. In Coromandel and other lines late prices ruled.

UNION WAIHI G.M. CO. RESULT OF THE INITIAL , CRUSHING. £1462 FROM 1542 TONS. -■ The return resulting from the first crushing of the Union Waihi Gold Mining Company, at their (old Silverton) battery, at Waihi, is just to hand, showing that 1542 tons of ore crushed and treated during the period ending November 3, yielded bullion valued at £1462.. WAIHI CONSOLIDATED G.M. CO. Good progress has been made with the Waihi Consolidated Gold Mining Company's shaft, at Waihi, 20ft having been sunk dufing the past week. Judging from the borehole alongside, the shaft is now througl the boulders. The water in the shaft has decreased sft, and the manager considers that pumping operations in adjacent properties will enable sinking to be carried on comparatively dry. HAURAKI No. 2 G.M. CO. The winze in the Hauraki Gold Mining •Company's mine, at Coromandel, has been sunk a further 4ft in country still favourable for gold and for sinking. The leader is from 2in to 4in thick, and looks well for making gold. BUNKER'S HILL G.M. CO. The western drive in the Bunker's Hill Gold Mining Company's mine, at Coromandel, has been extended a further distance of sft, and from the quartz broken down Sib of picked stone were selected. The reef ».t this point will measure 4ft between walls, composed of mullock and stringers of quartz, which require a good deal of selecting. In the leading stope, which has been advanced a total distance of 31ft from the crosscut, the reef has narrowed in to 6in in width, and bears a most promising appearance. Next week the necessary drive timbers will be placed in position prior to bringing along a second stope. From the quartz taken down in the rise, 261b of picked stone were bagged. There yet remains an additional sft to break down before reaching the floor of the intermediate level. Crushing is still proceeding at the public battery. Cleaning up will take place about to-morrow or next day. NEW WHAU G.M. CO. [by TELEGRAPH.—OWN correspondent.; Thames, Monday. Nineteen loads of ore were forwarded from this company's mine to the May Queen Hauraki Company's battery to-day, and its treatment will be commenced to-morrow morning. ' The intention is to crush 50 loads of ore on this occasion. MOANATAIARI G.M. CO. [BT TELEGRAPH. —OWN correspondent.] Thames, Monday. Operations on this company's behalf are still confined to extending the crosscut into the footwall country of the Golden Age reef at the Point Russell level, with the view of intersecting what is termed Cooper's new reef. The crosscut is in a total distance of 78ft, but for some time past has penetrated a hard blue andesite. There are indications now, however, of an improved class of country setting in, and a further 22ft of driving should see the reef to hand which is being sought after. During the past four weeks 15 parties of the company's tributers have crushed a total of 170 tons of general dirt, and 561b of picked stone, for a return of 1970z 13dwt of melted gold, valued at £530 0s 7d. MAY QUEEN HAURAKI G.M. CO. [BY TELEGRAPH. OWN CORRESPONDENT.] Thames, Monday. During' the ' four-week period ending on Saturday last this company crushed 199 tons of ore for a yield of 141oz 16dwt melted gold, valued at £406 9s lOd. Nine parties of tributers crushed 63 tons of ore during the same period for a yield of 2400z 16dwt of melted gold, valued at £667 12s Id. Operations in the mine on behalf of the company are now at a standstill, but the battery is being kept going, crushing for the tributers and public. The Cameron pumps that were used for lifting the water from No. 7 level to No. 6 level nave been brought to surface, and have since been cleaned and overhauled, and are now put aside until again required. Since the last Cameron pump was withdrawn from the May Queen shaft the water has gradually risen until it has reached a height of 23ft above the chamber of No. 7 level, which level and all its workings are consequently flooded. The water is still fast rising in the shaft. DREDGING RETURNS. [BY TELEGRAPH. PRESS ASSOCIATION.?

Dunedin, Monday. During the week returns have been reported from 26 dredges, the total yield being 801oz 17d\vt 20grs, or an average of 30oz per dredge. Upper Waipori, 290z 9dwt; Tuapeka, 21oz; Jutland Flat, 16oz 7dwt.

DUNEDIN STOCK EXCHANGE. [BY. TELEGRAPH. —PRESS ASSOCIATION.] Dunedin, Monday. Stock Exchange sales at premiums: Electric Extended, 275, 26s 9d; Gibbston, Is 9d, Is 7£d; Grand Junction, 4s 6d; Kawarau Bridge, 2s 9d; Trafalgar, 4s 9d; Victory, 4s 9d; Wai'ofa, 3d. . Sales also took place at the following prices: Arrow Junction, 28s 6d; Dobson No. 2, 19s; Galvanic, 35s 6d, 355; Grey River, £2 Is; Half-way House. £2; Junction Electric, 31s, 30s, 29s 9d, 295; Kelly and Casey, 295; Merrimac, £2 ss, £2 3s 6d, £2 ss, £2 5s 6d, £2 4s 6d, £2 4s 3d, £2 4s 6d; Metallic, 275; Premier Waikaka, 23s 6d; Sixteen-mile Beach, 18s, 17s 9d; Waikaka Forks, 13s. Golden Gutter shares were sold at 2s discount. NEW ZEALAND MINES. LATEST LONDON NEWS. [from our own correspondent.] London, October 12. This week the report of the directors of the Waitekauri Gold Mining Company, for the year ended May 31, was issued. It is to be submitted to the meeting which is to take place in London on the 16th inst. The directors state that during the year 26,198 tons of ore were treated, the bullion from which realised in London £80,072. After adding sundry receipts amounting to £154, the total gross- revenue for the year amounts to £80,225. The expenditure in New Zealand and London was £42,551, leaving a profit of £37,675, which, added to the balance from last account, £13,663, makes £51,337. Out of this the directors say they have written off £3403 for depreciation of plant and machinery, £1397 for development work in the mine, and £200 off the cyanide patent rights. They have added £3203 to reserve, thereby increasing that fund to £12,000. Dividends and income tax absorb £31,643, interest or debentures £1461, leaving £10,025. During the year a further £4250 has been paid 'off the debentures, leaving £18,150, which have been renewed until May 31, 1901. The report goes on to state that a further issue of 18,577 shares was made in May last, at the price of £2 per share, and the premium received, £18,577, has been carried to a "premium account." There are now 1924 shares unissued, which the directors will dispose of as favourable opportunities occur. During the year a large amount of mining and exploration work has been done with varying success on the whole with satisfactory results. Last year the company purchased for a small sum the Waitekauri Union property, including a compressor and hoisting plant, which were very serviceable to this company. They have recently purchased the Grace Darling property, including a 10-stamp mill, and a large quantity of other plant, water rights, residence and machine sites and stores. Other properties have also been taken up, and the mining ground now held consists of the large

area of 1811 acres. * Since the date of the accounts to September 26, 7862 tons of ore have been crushed, < producing bullion worth £19,053. On August 20 a dividend, No. 9, of Is per share on the fully-paid shares, and i9d per share on the partly-paid shares, was paid, amounting to £11,370. In its city column. the Westminster Gazette, publishes the statement that: " One of the few New Zealand enterprises which are turning out profitably for the shareholders is | the Waitekauri Gold Mining Company. That it has made steady progress may readily be • gathered from the value of the gold it has obtained. In 1896-1897 the amount was £41,014; in 1897-1898, £56,565; in 1898-1899, £70.276; and in 1899-1900, £80.072. At the end of May, 1899, the company had a credit balance of £13,401, whereas it is shown in the report just out that during the past year £31,643 has been distributed in dividends, which, on the capital of £209,500 subscribed, is approximately 15 per cent. The company is continually acquiring fresh properties, and whereas at the time of formation the area was 400 acres, the mining ground now held consists of the large area of 1811 acres. Much mining and exploration work has been done in the period covered by the report, with varying success, but on the whole 'with satisfactory results. The reserve fund by the latest addition of £3208 has been raised to £12,000. The price of the £1 shares is about 2£."