THE GOLDFIELDS.

New Zealand Herald, Volume XXXVIII, Issue 11825, 30 November 1901, Page 6

THE GOLDFIELDS.

AUCKLAND SHAREMARKET. The market was quiet yesterday. In mining lines, Kuranuia continued in request, and business was done at 3d, sellers closing at 6d, with buyers at 3d. Monowais had buyers at 2a sd, sellers 2s Bd. Waibi Extendeds sold at 2s 9d, with further buyers at 2s 7d, sellers 2s lOd. Chclmsfords were looked for at lOd, sellers Is 3d. Komata Beefs, at Is,,bad buyers at 9d. In other lines late prices ruled. .

BARRIER REEFS G.M. CO. In the Barrier Reefs Gold Mining Company's mine the rise from No. 3 level is up 30ft. The intermediate level is expected to be reached in a day or two. lhe «topes above the intermediate level are looking well. NEW ALPHA G.M. CO. The first half-yearly meeting of shareholders in the New Alpha Gold Mining Company was called for yesterday in the office of the legal manager (Mr. H. Gilfillan, jun.), but lapsed for want of a quorum. In the icport of the directors it was stated that upon tha reconstruction of the company 94,905 shares were applied for out of a total of 100,000: Since that time 4819 shares had been forfeited. Work in the mine had been confined to extending a crosscut, and, latterly, to driving on the main and No. 5 reefs. In the course of driving some improvement had been found in the ore, and the directors hoped that before reaching the point underneath where good quartz was obtained in the surface drive on No. 5 reef a still further improvement might be met with. The balance-sheet showed a debit balance of £917 10s 3d.

KAPOWAI G.M. CO. The half-yearly meeting of the Kapowai Gold Mining Company, called for yesterday, in the office of Mr. H. Gilfillan, jun., Jegal manager, lapsed for want of a quorum. The directors' report stated that crushing operations were commenced in August last, the first crushing proving fairly payable, though not up to the Board's expectations. Soon after this crushing operations had to be suspended, owing to the great reduction in the size of No. 2 reef. No. 1 lode was then further exploited, but with no satisfactory results. The work now being carried on was underneath the drive on No. 2 reef, with a view of determining its value and prospects below the previous workings. The balance-sheet showed a small credit balance.

THAMES HAURAKI G.M. CO. [BY telegraph.—own correspondent.] Thames, Friday. I have ascertained from a reliable source that Mr. J. A. Miller has received a cable from the Official Receiver of the Thames Hauraki Gold Mining Company in London, to the effect that the Home creditors have appointed a committee to go into the affairs of the company, and that pending their report the receiver thinks it will be to the advantage of the coloHial creditors not to push their clainw at the present juncture. but to awa't the result, of the committee's investigations. From this it is understood that steps are being taken at Home to endeavour to find further capital for working the property in question, and that it -trill not be long" before the result of the effort ■will be known.

ECLIPSE G.M. CO., LIMITED. [BY TELEGRAPH.OWN CORRESPONDENT.] Thames, Friday. This company, during the four-weekly period ending on the 23rd inst, crushed 578 tons of ore for a yield of 1950z 3dwt of melted gold, valued at £552 17s 9d. The class of ore coming to hand in the mine maintains its average value. Although of comparatively low grade the cheap crushing power at the company's command enables the quartz to be treated with a remunerative result. Steps are now being taken to open up a new low level, which will give a further 100 ft of backs on the line of reel

MR. J. W. WALKER'S SCHEME. [BY TELEGRAPH.OWN CORRESPONDENT. ) Thames, Friday. Mr. J. W. Walker has written a letter to the Thames Miners' Union requesting that the officials of that body will grant him & further hearing to discuss his scheme for extending the Moanataiari main tunnel and for testing the country at the buck of the Punga Flat district. He also suggests that a public meeting should be called for the purpose of discussing his scheme. The committee of the union decided at its meeting this evening to hold a special meeting on Tuesday next, for the purpose of giving Mr. .Walker an opportunity to meet them as requested. It will then be decided whether or not a public meeting shall also be held!

HIKUTAIA GOLD SYNDICATE. [BY TELEGRAPH. —OWN" COEEESFOXDKNT.] Paeroa, Friday. Crushing operations have been commenced at the Hikutaia Gold Syndicate's battery at Marototo, and it is anticipated that there .will be a cleaning up before Christmas. The battery, which comprises five head of stamps, is doing splendid work, about 20 tons per day being put through. SIR COLIN CAMPBELL SPECIAL CLAIM. [BT TELEGRAPH. —OWN CORRESPONDENT.] Paeroa, Friday. The Sir Colin Campbell special claim was to-day put up by auction, and realised £300, the purchaser being Mr. Mueller. MARATOTO G.M. CO., LIMITED. The annual general meeting of shareholders of the above-named company was held yesterday at the company's "office, New Zealand Insurance Buildings, Queenstreet. Mr. J. A. Pond occupied the chair. There was a good attendance of shareholders. Advertisement calling the meeting was read previous, general meeting's minutes were read and confirmed, directors' report, balance-sheet, and mine manager's report were read, and on the motion of the chairman, seconded by Mr, James Reid, they were adopted, passed, and approved. Mr. Reid moved, and Mr. E. M. Coleman seconded, that the retiring directors, Messrs. J. A. Pond and Mr. John Endean, be re-elected. The motion was carried. On the motion of Mr. Reid, seconded by Mr. Endean, Mr. D, B. McDonald was reappointed auditor. A vote of thanks to the directors, and Mr. R. McDonald Scott, on the motion of Mr. W. D. Buttle, closed the proceedings. Subjoined are the directors' report, balance-sheet, and mine manager's report.: —

DIRECTORS' REPORT. Auckland, November 29, 1901. To tho Shareholders. Gentlemen,— directors have the honour to submit their annual report of -. thus reconstructed company and balancesheet for the year now ended, the emnmarr from which is as follows:— * .. KBC£Ii"Tc!. Preliminary call on 100,000 shares at 3d each £1,250 0 0 Calls received 877 4 5 Forfeited deposit 2 0 0 Bank overdraft 214 12 2 Total £2,343 16 7 DISBURSEMENTS. Cost of mine and battery and claim paid to the liquidator ot the old company £1,476 3 10 wages paid at the mine 447 17 6 General charges including legal bill for reconstruction, mining requisites, and cost of ventilation of the mine ... 419 15 3 Total ... £2,343 16 7 The preliminary call on 100.000 shares in this new company, amounting to £1250. every penny of which was paid, enabled your directors to acquire the property from the old company by getting an overdraft of £226 3s lOd iF on ?, the company's bank and paying the liquidator £1476 3s 10d. the amount of the ■ old company"a indebtedness. As regards the mine, the details of opera- . tions appear in the mine manager's report. Your directors found on inspection that before dreaming of starting operations at the battery the mine required to be opened up, and communication had to be made with the . Xaratoto reef. No time was lost in Mr E F. Adams being instructed to lay off a crosscut from the Payrock tannel to the Maratoto reef. This work has since been vigor- - ously prosecuted, and is now in 249 ft. with 271 ft stfll to be driven. The work has been 4 rather slow, owing to the nature of the country driven through, but as there is now some improvement your directors have called tender* to drive 150 ft by contract. Everything has been done to expedite the work, *nd to forward this important drive, on which so much depends for the success of the company and the having of the Maratoto : *eef in hand. - .v",;:-"^""'

Your directors have spared neither time nor anxiety in forwarding the interests of the company, and such will be their future Two'&torß (Messrs. J. A Pond and. John Endean) retire, and are eligible, and seek reelection. J - A ' Chairman. Balance-sheet of the Maratoto Gold Mining Company, Limited, ending- November 26, 1901. RECEIPTS. February 15, 1901 Preliminary call on 1000,000 shares at 3d each £1,250 0 0 Calls received 377 4 b Forfeited deposit 2 0 0 Link overdraft ... 214 12 2 ■ tal £2,343 16 7 DISBURSEMENTS. November 26, 1901Cost of mine and battery paid to to the liquidator of the old company ... ... £1-476 310 Wages paid at the mine ... 44/ 1/ o General charges, including legal bill for reconstruction, naming requisites, and cost of ventilation of the mine 419 15 3 Total £2,343 16 7 LIABILITIES AND ASSETS. Dr. November 26, 1901- *oi4 r> 2 Bank overdraft *--" 12 i Wages due , * " " Balance in favour of the company 5,302 5 5 Total £5,572 15 7 Cr. November 26, 1901— „„„ » „ Value of battery and plant ... £2,700 0 0 Calls unpaid ottmn n Uncalled capital 500 ° ° Total £ 5 ' 572 15 7 I CAPITAL ACCOUNT. I Dr. November 26,1901Capital stock on 100,000 shares at Is each £5 - 000 ° ° Total £5,000 0 G. Cr. November 26. 1901Capital called up £2-500 0 0 Capital to call up ' i - 500 " u Tota i £5.000 0 0 K. MCDONALD SCOTT. Manager. I hereby certify that I have examined the books and accounts of the Maratoto Gold limine Company. Limited, in connection with the above balance-sheet, and have found all cormi' D. B. MCDONALD, Auditor. Auckland, November 27, 1901.

Marototo, November 23, 1901. To the Chairman and Directors, Maratoto Gold Mining Company, Auckland. Gentlemen,— following is a report of the work done in and about your mine lor the year ending November 23. 1901:— PAYEOCK SECTION. In this section a rise has been put up a height of 10ft over the back, and near to the present face of the low level; this rise passed through the hard be!, of caleite. and entered ri&o, and the lode, averaging 4ft wide, carried a little gold throughout. A level was then driven for a distance of 25ft south of tlia rise, and the lode, averaging 4ft wide, carried a little sold for the whole ot that distance, and I firmly believe that if this level were pushed ahead good payable ore would be met with at no great distance south, o me present face, and I believe the same could be driven for 123 per foot. At a point about 385 ft in from the mouth of the PavrocTc low level, a rise was put up to a height of 21ft; here the lode, averaging 2ft in thickness, carried a little gold, but not parable. Between the starting point of the low level and the northern boundary of your mine, a good deal of surface trenching aas been done along the line of the Payreck lode, but the results were not very encouraging.

MARATOTO SECTION. Surface prospecting in this section of your mine revealed a body of ore from 4ft to Bft wide; this lode is identical with the Maratoto and carries more or less gold wherever it has been cut. Last April a start was made to drive a crosscut from the Payrock low level, so as to interest the Maratoto lode at a depth of 130 ft below the old workings. This crosscut is now in 249 ft, leaving a distance of 271 ft to drive, in order to reach the vertical line of the above main lode, which is dippng towards the crosscut, and will thus shorten the distance. Owing to the hardness of the belt of country lying between and running parallel to the Maratoto and Payrock lodes, the country penetrated by this crosscut has been very tough throughout, and progress slow in consequence. This crosscut will intersect two distinct gold-bearing lodes before reaching the Maratoto lode, which it will strike immediately below the point where some rich ore is showing underfoot in the level above. From the old workings about £7000 worth of bullion was obtained, and as there now is a fair show in the floor of the old level. I have no hesitation in saying that there is every prospect of meeting with highgrade ore when the crosscut reaches the lode. VENTILATION. About six weeks ago it became necessary to improve the ventilation of the mine, and lor this purpose the required pipes were obtained, and the air driven into the workings by means of a water-blast, which works splendidly, and is all that could be desired, the snuolv of air being ample to see the crosscut driven to the Maratoto lode, and will be sufficient until such time as a connection is effected with the upper level. WATER-RACE. The whole length, of the water-race (15 chains) is in thorough good order, but requires a little attention during the summer months, so that it be kept filled with water, otherwise it would soon go to pieces. BATTERY, BUILDINGS. MACHINERY. ETC. The manager's cottage, battery buildings, machinery, engine, vats, and sumps are all in first-class order, and should crushing operations he resumed at an early date, there is a good supply of firewood, coke, and mercury on hand to last for some time to come. Now that the hot weather has set in the battery buildings, etc., require a little more attention than in the winter months, as everything is so dry and bush fires may occur at any time. In conclusion, I would suggest that the vat which has been lying on the roadside at the junction for the past two years or more bo taken to pieces, carted up. and put insido the battery building, otherwise, if left to the mercy of the weather for a much longer period, it will be unfit for further use. —I am, etc.. JIKNRY SFEEHAN.

DREDGING. [BY TELEGRAPH.—PRESS ASSOCIATION*.] Duxkdik. Friday. Dredging returns : Success, 40oz 14dwt; Enterprise 11., 320z 9dwt 18gr ;' Inch Valley, 3107. 4dwt; Inchdalc, 240z ldwt; Waimumu Central. 230j; lOdwt; Central Charlton. 220z Bdwfc ; Hartley and Riley. 220z ; Naumai, 17oz ; Lady Charlton, 12oz 3dwt. Wellington - , Friday. The returns of the Kohikohi dredge is 21oz for 105 hours.

The s.s. Vivid will run an excursion to Riverhead to-morrow, leaving the Queenstreet Wharf at eleven o'clock a.m. Ties, Ties, Ties: See our windows. The very newest styles, shapes and designs, Is each, or three for 2s 6d, and better goods Is 4d each, or three for 3s 6d.—Court Bros. Special: Double-width black silk merv., 5s lid ; 23in surahs merv., taffettas, from 2s 6d ; grand value in white Japanese, 23in, Is 6]d; 27in, Is Did, Is Hid, 2s lid, to 4s 6d.—McCullagh and Gower. Sunshine jellies and custard are unequalled by any imported. A high standard of purity in every ingredient. " Don't say no" till you've, tried them. Tucker's everywhere. Curtains: Special value in white and cream, is 9id, is Hid, 2s 6d, to 25s 6d; art muslin, grand value, 2|d, 3|d, 4£d; new art drapery sateen, 6|d, worth Is Ojd, at McCullagh and Gower's. A meeting of tho trustees of the Auckland Savings Bank will bo held on Wednesday afternoon next. Straw Hats: We are giving some wonderful value in straw hats. Youths' straws, Bd, Is, Is 6d up to 3s 6d; men's ditto, Is 3d, Is 6d, Is lid, 2s 6d up to 63 6d; boys' sailor straws, Is, Is 3d, Is 6d, Is lid up to the finest qualities in tuscan at 6s lid.—Court Bros. Fireplace Decorations: Our display of firescreen:, this season is the largest and most varied ever shown. Beautiful cardboard screens from 6d each.—Tonson Garlick Coy. There is nothing better for summer than one of the pique or holland costumes Court Bros, are now selling at 15s 6d to 16s lid. Strawberries and custard. A good recipe on each packet for this dish. Read Mr. Pond's report as to the jelly, and custard is as good in every respect. Tucker's everywhere. 6tl —four packets. Sample lot of choice tailor-made costumes, prettily trimmed with applique silk, smartly cut and latest styles, from 15s lid; silklined, from 19s 9d.MeCullagh and Gower. Tourists should inspect our travelling trunks, dress suit caset, hamper baskets, luncheon kits, before purchasing elsewhere. Grand and exceptionally low price range just opened up.Tonson Garlick Coy. A sacred concert is to be rendered in Knox Church, Parnoll, on Tuesday evening next. Tho programme, which appears in another part of this issue, is a varied one. Obtainable only at Court Bros. : Lace lisle and lace cotton gloves, white, tan and black, 9d, 10£ d, Is, Is 6cl, Is 9d. is lid per pair; the latest novelty. Morcerised foulards, rivalling silk, artistic printings, 7*d, BJd, 10Jd, Is o|d, to Is 7£d: dress muslins, great variety, s|d, 6?d, Bfd, IOJd ; latest Parisian printings, IOJd, Is o£d, Is 4£d, to Is McCullagh and Gower. Splendid range of Japanese, bamboo, and bead blinds for doors and windows just opened up. Inspection invited. — Tonson Garlick Coy. Warehouseman's stock of traycloths and runners, all linen drawn thread, from 7 id; I also lace d'oyleys from Is dozen, runners from Hid.Court Bros.