THE GOLDFIELDS.

New Zealand Herald, Volume XXXVIII, Issue 11714, 25 July 1901, Page 6

THE GOLDFIELDS.

AUCKLAND SHAREMARKET. ; Business was practically \at a standstill on the Exchange yesterday,: the only sale reported, being in investment stocks, Devonport Steam Ferrys changing hands at 365. In mining lines the demand for Welcome Jacks (contributing) continued, buyers offer \ ing Is 2d, with sellers firm at Is 3d. In j Upper Thames lines Crowns eased to 12s, | sellers, with buyers at, lis 9d. • Komata j Reefs were offered at 2s 2d, buyers Is lOd. Late prices governed other stocks. NEW ALPHA G.mTcO. In ' the No. 4 * level of the New Alpha Gold Mining Company'.'! mine at Waitekauri, the country has of late been easy to break, and the level has been advanced a total of 1400 ft. ■•;■■ _■;_ -j NEW WHAU G.M. CO. The drive on the ore body at the Sons of Freedom level in the New Whau Gold Mining Company's mine, at the Thames, is now in 58ft from the crosscut. From the bottom of the winze at No. 1 level a start bits been made to open out on the leader, as it looks a little more promising at that point. Driving eastward is now in progress. In the rise above No. 1 level but little has been done during the week; beyond timbering. WAIHI EXTENDED G.M. CO. ' The quartz cut in the Waihi Extended Gold Mining Company's south-east crosscut, which'at first was reported to have the appearance of a compact reef, turns out, on being broken into, to be a conglomerate of quartz and country. YOUNG NEW ZEALAND G.M. CO. Work in the Young New Zealand Gold Mining Company's mine at Waitekauri has been continued in' the low level, which is 'now ■in a total distance of 74? ft. .':'■' The ground is again changing for the better. Oxidised heads are coming in frequently, and several small veins /and stringers "of quartz have been passed through. There is also more water making in the face, and as the drive is now just about at the point where it should intersect the reef, it; is anticipated that it may be to hand at any time. THE MINING DISPUTE. Yesterday Mr. Justice Cooper, president of the Arbitration. Court, wired to Mr. R. G. Thomas, Clerk of Awards, informing him that a special sitting of the Arbitration Court will be held to hear the mining dispute. The Court is to open at Paeroa on September 6 next, at eleven a.m., and then adjourn to Waihi, and other districts to take evidence in the case. The Court will on this occasion take only the mining dispute, and, therefore, no other business will, be dealt with. . , ' --'-;■' MR. J. W. WALKER'S SCHEME. [from OUR OWN CORRESPONDENT.] Thames, Wednesday. - At a meeting of the committee of the Thames Miners' Union, held on Friday evening last, a communication from Mr. J. W. Walker, giving a digest of bis proposed scheme in connection with the taking up of a large area of ground on the eastern side of the Moauataiari. main slide, at the back of the Punga Flat district, together with ■ certain concessions he purposed seeking from the Government in connection with the same, was considered at length, and it was decided to inform Mr. Walker that the union was in sympathy with the scheme, and would be prepared to recommend the same to the Government for favourable consideration. Mr. Walker has' given Mr. E. J. Adams, the well-known mining .; engineer and surveyor, instructions to prepara a plan of the area of ground he intends talcing up, and as soon as the plan is completed he will proceed to Wellington to interview the Minister for Mines on the subject. WOODSTOCK G.M. CO. [BY TELEGRAPH.OWN CORRESPONDENT.] ■-~ Paeroa, Wednesday. '. At the Woodstock Gold Mining Company's mine excellent progress is being made with . the sinking of the shaft, the work having attained a sufficient depth to allow the excavations for the No. 6 level chamber to be undertaken. This work is" already well in hand, and when completed sinking will be resumed. There will be 150 ft of backs available between the Nos. 3 and 5 levels. Contracts are also being let or atoping in the back of No. 5 level, whilst other contracts are to be let shortly for the development of blocks ] over the Nos. 2, 3, and 4 levels. A winze is also about to be sunk down to the Nos. 6 and 7 levels, the object of which is to prospect the Maria lode on its downward continuation, and also to facilitate the rapid opening up of these. levels. On the whole satisfactory progress is being made with the various works in hand. The recent heavy rain damaged the tail-race, which at the time was not quite completed, but repairs have been effected, and the race is now being fastened down permanently. ' KOMATA REEFS. [BY TELEGRAPH.—OWN CORRESPONDENT.] Paeroa, Wednesday. A short time ago Wilson's and Lavington's lodes, which converged and ran together in the low level, gradually reduced in ■> size until there was practically no reef left; but during the past week a satisfactory development has occurred, namely, the recovery of the lode in the southern side of the hard bar of country. When it made its appearance in the face the ore body was rather' small, but as the level is advanced it is. gradually opening out to a fine lode again, and already it is fully 3ft wide in the face,; with every prospect of enlargement as further! progress is made. Another pleasing feature is that the stone carries gold, and j it is hoped that- a, valuable block of ground will be opened up here. VICTORIA G.M. CO. [BY TELEGRAPH.OWN correspondent.] Thames, Wednesday. The boring operations have not progressed as rapidly as could be wished during the past day oi two owing to the changeable character of the country that is being penetrated. Yesterday morning the diamond drill was started and worked well for a short time, boring a depth of about lOin in a very few minutes, but shortly after that the country came in softer and the drill had to be withdrawn and the chisel substituted ill its place. Since then the country penetrated has been a soft sandstone, mixed with rubbly quartz and small boulders, which, although rather difficult to work through with the chisel, is still not suitable.for the diamond drill; Hence ; Blow progress is made, as the chisel has to be "jumped" by manual labour. The total <'. depth • attained up to knocking-off time this afternoon is about 113 ft. ■ THAMES SHAREMARKET. [BY TELEGRAPH.— CORRESPONDENT.] ''-'■'. Thames, Wednesday. Broken Hill, sellers 3id, buyers 2d; Kuranui, sellers 3d; New Whau, sellers' 2d Chelmsford, ' sellers 2s 2d; Komata Reefs, sellers 2s lid; Tairua Broken Hills, sellers. 2s. DUNEDIN STOCK EXCHANGE. [BY telegraph.—press association.] Dunedik, Wednesday. Dimedin Exchange sides : —Alpine 11., 53s 6d, 555, 53s 3d; Fourteen-Mile Beach 365, "35s 9d, 35s 3d, 34s 9d, 335, 325, 31s 3d' 31s, 30s 6d, 295, 27s 6d, 27s 9d, 28s ; Golden I Bed, 15s 3d; Great Central, 255, 245; Kawarau Bridge, 9s; Kelly and Casey, 225, I 21s 9d; Leaning Bock. 10s; Long Valley, 265; Mokoia, 19s 6d; Nelson Creek, 59s 3d, 595; Three-Mile Greenstone, 295; Upper Magnetic, 9s; Vincent, 365! Otago Exchange: Alpine Consols, 435; Boundary Creek, 18s 6d; Junction Elec- ! trie, 31s 6d, 31s 9d. Equitable Exchange Davis Bendj 2s 6d l premium; Ford's Creek, 9s 6d. " .