THE GOLDFIELDS.

New Zealand Herald, Volume XXXVIII, Issue 11587, 27 February 1901, Page 6

THE GOLDFIELDS.

AUCKLAND SHAREMARKET. The market was quiet yesterday. In investment line£ New Zealand Insurances sold at 695, with further sellers at 69s 6d, buyers 68a 6d. In mining lines May Queen Extendeds changed hands at 9d and 83d. with further sellers at same price, buyers Bd. In Upper Thames lines Komata Reefs had sale at 2s 8d and 2s 9d, sellers closing at 2s lOd, buyers at 2s Bd. There were transactions in Talisman Consolidateds at 255. more being wanted at 24s 9d, sellers asking 25s 6d. Waihi Consolidateds wer, done at Is 7d, with furthei buyers offering Is 6d, sellers at Is 3d. Waihis were offered at £11, nc buyers responding. Waihi Consols eased to 9d! with buyers at- 6d. Buyers of Waihi Extendeds quoted at 5s 7d, sellers 3s Bd. In Coromandel and other lines late prices ruled. THAMES TALISMAN G.M. CO. The main level in the Thames Talisman Gold Mining Company'*, mine, at the Thames, has been extended a total distance of 869 ft. The country is still a good class of sandstone for gold-bearing reefs. HAURAKI No. 2 G.M. CO. The drive in the Hauraki No. 2 Gold Mining Company's mine, at Coromandel, is in good country, and it is expected that the reef will soon be picked up. BARRIER REEFS G.M. CO. The west stope at No. 5 level in the Barrier Reefs Gold Mining Company's mine, at the Great Barrier, is opening up well, and 12 men are engaged in breaking down quartz there. The east drive at *No. 5 level has improved lately. The battery has been running as usual. IMPERIAL G.M. CO. In the Imperial Gold Mining Company's mine, at Karangahake. good progress has been made with the sinking of the winze 011 No. 1 reet, below No. .3 level, which is now down 52ft. At present the reef is not solid, but is composed of a numbei of strong ribs and veins of quartz, with small bands of sandstone intervening. The appearance of the quartz itself is really good, and it gives fair dish prospects. SURPRISE G.M. CO. The Surprise Gold Mining Company, which is developing the black sand claim between Rotorua and Te Puke, is offering one-third of the original interest in the shape of 100 promoters' .shares at £10 each. NEW FOUR-IN-HAND G.M. CO. [i rom our own correspondent.] Coromandel. Tuesday. The cleaning-up at the New Four-in-Hand mine is now proceeding, and gives evidence that the return will be quite up tc the average. Operations have been confined mostly tc the low* level, from which excellent general ore has been obtained during the month. In fact, the reef has never given such high-class general ore as recently. The lode irom wall to wall is Bft wide, with a body of solid quartz fully 4ft in width. MINERS' WAGES. ATTITUDE OF THE COMPANIES. The Waihi Gold Mining Company, in reply to the demands of the miners for an increased scale of wages, as per the schedule submitted by the Miners' Union to the various mine managers at Waihi, have stated that they do not see their way clear to accede to the demands. The Union Waihi Gold Mining Company intend to reply in similai terms. Jn conversation with a Herald representative yesterday, M., John Chambers, jun., attorney for the Waihi Grand Junction Gold Mining Company, stated that his company did not intend to adopt the higher scale of wages. , He pointed out that the company had already spent about £110,000 upon the development of their property. £80.000 of which had gone in wages and in payment of firewood contracts, whilst their present monthly expenditure in wages amounted to about £800. for all of which they had. so far, received absolutely no return, and were not likely to do so for some time. To increase their wages payments by about 20 per cent, would, he said, quickly absorb the remaining capital of the company, which was all paid up, and make it difficult for them to obtain fresh capital. In consequence operations in the mine might be suspended, or stopped altogether so that insistence on the part of the union would jeopardise their chances of being employed by the Grand' Junction Company. The proposed rise in wages would also seriously affect struggling companies, and prevent their flotation at Home, as English capitalists, who were already tired of New Zealand mining legislation, would look upon it as another reason why they should not invest more money in New Zealand mines.

The Waihi Extended Gold Mining Company's attitude on the question is not yet definitely known, but a meeting of directors is to be held shortly to considei the matter. The Waihi Consolidated Gold Mining Company are not affected, as their operations are confined to boring, and no demands have been formulated in connection with that class ox work.

The attitude of the Waihi Consols Gold Mining Company is not known. Up to the present the circular containing particulars of the men's demands has not reached the local office.

It appears to be generally understood that none of the companies operating in Waihi will adopt the higher scale of wages submitted.

SOUTHERN MINING. [BY TELEGRAPH.—PRESS ASSOCIATION*.} Doted in*, Tuesday. The return from the Glenrock mine. Macetown, is 105oz lOdwt 6gr from 100 tons.

THAMES SHAREMARKET. [by TELXGRAPH.OWN' CORRESPONDENT.] Thames, Tuesday. Broken Hill (Waiomo), sellers buyers 2jd ; MaJxara Royal, sellers 6d ; Mav Queen Hauraki. buyers 7d ; New Whau, sellers 3d, buyers Id ; Komata Reefs, sellers 2s 9d, buyers 2s 8d ; Tairua Broken Hills, sellers Is 6d ; Waihi Extended, sellers 3s lOd, buyers 3s 6d ; Pride o, Waihi, sellers 6d.

DUNEDIN STOCK EXCHANGE. [BY TELEGRAPH.—PRESS ASSOCIATION.] Dunedin, Tuesday. Dunedin Stock Exchange sales at premiums: Maori King, 2s 9d ; Mosquito, 7s; Stafford Waimea, Is 6d, 2s; Trafalgar, 10s 6d. Paid-up: Ahaura River, 5s 10£ d ; Alpine 11., 2s Id ; Dobson 11., 17s: Electric, 535; Electric Extended. 455; Endeavour, 235; First Chance. 335; Fourteen-Mile Beach, 355; Golden Queen, 29s 3d, 295, 28s 9d; Golden Bed, 21s, 21s 6d. 21s 9d, 22s 3d ; Golden Link, 19s 6d ; Golden River, 6s 3d; Grey River Consolidated, 15s 3d; Magnetic, 32s 6d ; Majestic, 34s 6d, 355, 36s 6d ; Merrimnc, 40s 6d ; Moa Flat, 20s 3d ; Mokoia, 275; Nelson Creek, 645; New Alexandra, 14s 3d, 14s ; Sailor's Bend, 40s 9d ; Vincent Extended, 45s 6d. Gibbston, 6d discount. Other premiums: Buller Junction, 12s 9d. Paid-up: Alpine Consols, 42s 6d; Kelly and Casey, 325; Miller's Flat Electric, 8s; Second Magnetic, 29s 9d; Upper Magnetic, 38s 3d.