THE GOLDFIELDS.

New Zealand Herald, Volume XVII, Issue 11543, 30 November 1900, Page 6

THE GOLDFIELDS.

AUCKLAND SHAREMARKET. The market was fairly active yesterday. In investment lines South British Insurances sold at 72s 6d and 735, with buyers left at latter price, sellers 765. New Zealand Banks had buyers at 275, no sellers quoting. - New Zealand Insurances were looked for at 70s, sellers 71s 6d. Buyers of New Zealand Drugs inquired at 525, sellers asking 535. In mining lines New Wbaus again sold on a rising market at 3£d and 4d, late sellers asking 4£d. In Upper Thames lines Tairua Broken Hills were done at Is Id, with more buyers at that price, sellers Is 2d. Waihi stocks were for the most part easier. Waihi Consolidateds had sales at Is 9d, Is lOd, and Is Bd, with further sellers at last price, no buyers inquiring. Waihi Consols sold at Is Id, more being offered at same price, without response. There were several transactions in Waihi Eitendeds at 4s 4d, 4s 3d, 4s, 3s lOd, 3s lid, and 3s Bd, sellers closing at'Ss lid, with buyers offering 3s 7d. Grand Junctions were firm at 70s, without buyers.* "Waihi Souths had sale at Is 6d, with further sellers at that price. Waihi Beach Uniteds changed hands at 6£d, late sellers quoting at 7d. In Australian lines Sailors' Creeks had sale at 12s 6d, sellers closing at 15s. In Coromandel lines Bunker's Hills firmed to Is, buyers advancing to 9d. In other lines late prices ruled. To-day being St. Andrew's Day, the Stock Exchange will be closed. NEW FOUR-IN-HAND G.M. CO. The annual meeting of shareholders in the New Four-in-Hand Gold Mining Company was held yesterday in the office of Mr. DG. MacDonnell, secretary. Mr. E. W. Ali- j son presided. The directors' report was read as follows:—"Your directors have much pleasure in presenting their second report and balance-sheet, both of which are satisfactory and encouraging, for notwithstanding that considerable development works* have been carried out during the year, the returns from the mine, together with the balance brought forward from last year, have been sufficient to meet all mining expenditure, pay two dividends of 3d each, provide an additional two-itamper battery, and leave a cash balance of £1159 19s sd. The mine is now opened up on four levels, the whole of which are connected with the exception of Nos. 1 and 2, but as a rise is now being proceeded with between these levels, connection will shortly be completed. This will facilitate the working of that portion of the company's property known as the Cuirassier, 40 tons of ore from which were packed over and treated last February, giving a return of close on loz to the ton. The reef in this section has been opened up and proved payable for a considerable distance, but as the ore could not be advantageously handled until the development works referred to had been carried out, it has been left unworked. This block should prove a profitable area. A road has been made to the Tainui section of the company s property, and two tons of ore taken from the reef during -this month gave a return of 3£oz melted gold. Hie balance of the property is being vigorously prospected for new lodes. The ore crushed" during the year has been taken from stopes iD No. 1 block, all of which has so far proved payable. A start has alsc been made on No. 2 block, which is also turning out well. The managing director has prepared a sketch plan, which shows the workings on the company's property to date, and which clearly illustrates the "works which have been carried out and the amount of ground stoped. In January hist an addition was made to the battery plant by the erection of a two-head specimen stamp battery, which works splendidly, and has proved most useful in testing parcels of ore. One director retires, Mr. M. NiccoL, who is eligible for re-election. Mr. R. E. Isaacs is the retiring auditor, and offers himself for re-election." Ihe balance-sheet, which was then read, showed a balance of receipts over expenditure amounting to £1145 19s sd. Bullion sold during the year was shown to have realised £5954 12s 9d. The Chairman, in moving the adoption of the report and balance-sheet, said that the profit for the year having amounted to £2984 3s lOd, this was very satisfactory. Of the amount expended (£2988 10s) £2250 10s had been paid out in dividends, and £162 8s had been written off for depreciation. The total available balance was £2197 los Id. Cash in hand and on deposit amounted to £1159 19s sd, which was sufficient to enable a dividend of 3d per share to be declared, and leave a cash balance of £34 19s sd, but the directors were of opinion that it was inadvisable to do this at present. Since the battery started the company had made a profit upon each month's working, and there was no apparent reason why this should not continue. The directors were working the property capably and economically, and Mr. Holgate, the managing directoi, was unremitting in his attention to the company's interests, whilst the mine manager, Mr. T. Radford, was working the mine systematically. The report and bal-ance-sheet were then adopted. 1 Mr. Holgate made a few remarks upon the work done in the mine. He stated that 600 ft had been driven upon the reef, though I not more than from 12 to 16 men had been employed. A connection was being made with the old Cuirassier workings, and stoping had been commenced on No. 2 block. The present low level, on completion, would make available 320 ft of backs in the Cuirassier section. The run of gold was apparently general throughout the block, the total length of the ore chute at present being 800 ft to 900 ft. The general ore was payable, and they were frequently discovering rich stone. The Chairman intimated that a dividend would possibly be paid if the next crushing proved equal to the last. Mr. A. Alison was elected a director in place of Mr. M. Niccol, retired, and Mr. R. E. Isaacs was reappointed auditor. A vote of thanks was passed to the directors for the satisfactory manner in which they had managed the company's affairs. The proceedings then terminated. NEW WHAU G.M. CO. The half-yearly meeting of shareholders in the New Whau Gold Alining Company, called for yesterday, in the office of the secretary, Mr. H. Gilfillan, jun., lapsed for want of a quorum. The directors' report, prepared for submission, stated that steady work had been continued upon what was believed to be the Sons or Freedom reef, and during the progress of operations there had been frequent encouraging signs as to the future results, which, in the opinion of the directors, justified the continuation of these works, as there was every indication that they would eventually prove that the company possesses a valuable block of ground in this portion of the mine. Owing to the state of the road it had been impossible to forward any ore to the battery for some time, but a!? the County Council had lately effected the necessary repairs the quartz on hand was being conveyed to the flat, and a crushing of about 60 loads was now in progress. The balance-sheet showed a balance ot receipts oyer expenditure for the halfyear of £100 6s lid, the total expenditure amounting tc) £563 8s lid, and receipts £663 15s lOd. WAIHI COMoULS G.M. CO. The half-yearly meeting of the Waihi Consols Gold Mining Company, called for yesterday in the office of the secretary, Mr. H. Gilfillan, jun., lapsed for want of a quorum. The directors' report, which had been prepared for the meeting, stated that in the early part of the past half-year the Waihi South Company intimated that their drive, which had almost reached the Consols Company's boundary, would be stopped on account of the influx or water, and desired to Imiow whether this company intended to proceed with the same. After careful consideration of all the circumstances the directors decided that it would be inadvisable to continue this work, and that it would be better to proceed with boring operations with a view to determining, if possible, the position of the reefs in the company's ground, prior to the commencement of such operations as would be necessary to work them. So far the work connected with boring had been only of a preparatory nature, but the directors believed that their continuation would lead to results which would greatly enhance the future prospects and value of the company's area. A prospecting crosscut was also in progress, at the north-eastern boundary, in the direction of the Martha Hill. The retiring directors were Messrs. E. Bell and J. Smith, who offered themselves for reelection, as did the auditor, Mr. vV. H. Cooper. 'Hie balance-sheet showed a balance ot receipts over expenditure of £435, expenditure for the half-year having amounted to £221 12s lOd, and receipts to £656 12s 10d.

KURANUI G.M. CO. 1 The manager of the Kuranui Gold Mining Company's mine, at Thames, reports that from the time the directors visited the mine the drive has been advanced, about 15ft, and a leading stope taken -along on the reef, which is fully 6ft thick and highly mineral Used, but no gold has been met with as yet. The country is now full of mineralised veins, which makes progress rather slow. When this lode was first, cut in the crosscut put in for air, the reef had been heaved about 17ft in the footwall on the south of the then workings. When the directors visited the mine the manager pointed out to them a break in the face of the stope. Since then this break has heaved the reef back noith about 12ft on its former course, and from the. .appearance of the country in a parallel drive to the one now being driven, a change for the better should be met with very soon. CLAIM FOR RENT. [BT TELEGRAPH.OWN CORRESPONDENT.] Paeroa, Thursday. On November 7, at Te Aroha, the Warden, gave judgment against the Rev. Joseph Campbell, for rent on certain mining properties ; also against Mr. Thoes-t, for whom he was attorney. Mr. Campbell was unable to be present at the sitting of the Court, and he subsequently wrote to the Ohinemuri County Council showing that though the claims in question were taken out in his name he was really only attorney for a company which had spent thousands of pounds in experimental and development work. He, therefore, asked that the rent be remitted. A long discussion ensued at the Council meeting last night, and eventually it was" resolved to lay the matter before the Minister, with a recommendation to forego the amount claimed. WAITEKAURI EXTENDED G.M. CO. PROPOSED EXPENDITURE ,OF £50,000. [BY TELEGRAPH. —OWN" CORRESPONDENT.] Paeroa, Thursday. The Waitekauri Extended Gold Mining (jompany are evidently going in for very extensive development work, as at the meeting of the Ohinemuri Countv Council last night a letter was read from Mr. Woolmer, general manager, who is now in London, stating that an additional £30,000 ciear working capital was to be spent on the thorough development of the mine, the amount in question to be- available by January or February next. It was the intention of the company, he said, to sink a shaft at the No. 6 level, and to instal a good winding and pumping plant in the mine at that level. The manager, therefore, asked that the road be attended to. In concluding his letter he said : "You can readily understand that- it is impossible without your help at the present time to get any wheeled waggon to within a mile or more of the present low level site, and unless it is remedied within the coming summer my company will be seriously handicapped in getting "their machinery to its destination. Seeing that we have already spent a large sum of money in opening up the ground to the north of the Waitekauri ranges, and in view of our spending another £30,000 in further development, I tiust you may see your way to provide us with an efficient cart road to our present low level." The letter was referred to the engineer for a report. COROMANDEL WARDEN'S COURT. [by telegraph.OWN correspondent.] Co man del , Tluirsdav. The regular monthly sitting of the Coromandel Warden's Court took place to-day, Mr. R. S. Bush presiding. An application for six months' absolute protection -v. as granted to W. J. Moore for the First Event claim. Permission was granted to D. Pryce to work the Asiatic claim with two men for

five months. Permission was given re amalgamation of the Hauraki No. 2 and Zealand i a claims. The application of the New Zealand Mines Trust for the Jupiter claim was recommended.

Hauraki South : A plaint for forfeiture j of this well-known claim was heard. j Mr. Walker appeared for the complainant, j Charles McFarlane. The defendant com- | pany was not represented, but Mr. Rhodes, 1 for "Mr. Harvey, a large shareholder, asked for an adjournment to communicate with j the Home people. Mr. Bush, however, refused the adjournment, and after hearing evidence forfeited the claim to complainant with costs. It is probable the claim will be taken up by another Home company. GLENCOE CLAIM. [BY telegraph.—OWN CORRESPONDENT.] Coromandel, Thursday. j Mr. A. McNeil has just cleaned up .'or a I parcel of ore treated at the public battery, j the return being a most encouraging one, ! viz., 7oz 18dwt retorted gold, valued at £22 14s 3d. HAURAKI ASSOCIATED. [BY telegraph.—OWN" CORRESPONDENT.] Coromandel, Thursday Messrs. Pitkethley and party of tribnters j have had a return of 12oz Bdwt, valued.at ; £35 6s 9d, from a small parcel of ore which was obtained from the surface levels. OTAGO STOCK EXCHANGE. (by TELEGRAPH.—PRESS ASSOCIATION.] Dunedin, Thursday. Otago Stock Exchange sales at premiums ; Aldinga, 9d ; Electric Extended, 28s 3d, 295, 29s 6d, 295, 29s 6d ; Gentle j Annie, 28s 6d ; Gibbston, 3s ; Grand Junction, 7s 3d. Paid up : Boundary Creek, 24s 9d ; Charlton Creek, 40s ; Electric, 45s 9d : Magnetic, 31s ; Merrimac, 42s 6d ; Nuggets, 9s 6d ; Richards' Beach, 255, 24s 9d ; Second Magnetic, 30s, 29s 6d.