THE GOLDFIELDS.

New Zealand Herald, Volume XXXIX, Issue 11949, 25 April 1902, Page 6

THE GOLDFIELDS.

AUCKLAND SHAREMARKET. The Stock Exchange reopened yesterday, after the closure for St. George's Day. In investment lines Gisborne Gas sold at 325. Bank of New Zealands eased from 64s to 63s without buyers. New Zealand Insurances were offered at 735, buyers 72s 6d. For Auckland Gas (old) buyers quoted at £13 18s 6d, without sellers. In mining lines May Queen Extendeds were done at Bd. There was a slightly better feeling for Chelmsfords, sales being reported at Is 9d and Is lOd, with further buyers at Is Bd, no sellers quoting. There was brisk business in Tairua Broken Hills, several lines changing hands at 6s lOd, 7s, 7s 6d, 7s Bd, and r <s 6d, closing with sellers at 7s 9d,buyers 7s 4d. For Talismans 13s 6d was offered, no sellers quoting. In other lines late prices ruled. THE GOLD RETURNS. TOTAL FOR THREE WEEKS, £57,649. YIELD FOR THE QUARTER, £189,113. A LARGE INCREASE. The gold returns for the first quarter of the current year have reached a total of £189,113 12s Id, which compared with that for the first three months of 1901 (£146,686 4s 3d) shows the gratifying increase of £42,427 7s lOd. The returns to hand during the past three weeks amount in all to £57,649 12s lid, and are made up as follows :—Ohinemuri, £51.995 8s; Thames, £1087 10s 6d; Coromandel, £4566 14s ss.

TAIRUA BROKEN HILLS G.M. CO. Five of the directors, and some of the shareholders of the Tairua Broken Hills Gold Mining Company left Auckland on Monday to pay a visit to the mine at Tairua, returning to Auckland yesterday morning. The Hon. E. Mitchelson (chairman of directors), who was one of the party, gave a Herald reporter the following information as the outcome of the trip. A great deal of work has been done since the directors' last visit to the mine in February. The tramway connecting the battery with the low level, has been completed, whilst one rise has been finished, and another has been nearly finished. The manager is thus enabled to take all his ore from the intermediate levels through the lower tunnel to the battery, thereby saving considerable expense. The drive at the intermediate level from both ends, which has now been extended 240 ft, discloses the fact that good payable ore exists in each end. The prospects for the present month's crushing show that the result will be similar to that of last month. The steel vats for the extension of the cyanide plant, purchased a short time ago, are now on the ground, and are being put together. As soon as they are completed the company will be enabled to keep the full 20-head of stampers running continuously with three shifts, thus doubling the output. At present, •in consequence of the inadequacy of the cyanide plant they are only able to work 10 head of stamps. On Tuesday last a new reef was cut in one of the upper levels, which the manager anticipates v, ill produce good payable ore. The size of the reef not known, as during the visit it had not been cut through, but fuller information will be given to shareholders by the directors as soon as they receive it from the manager. Mr. Mitchelson concluded by stating that the prospects of the mine are very encouraging and point to the fact that it will be a continuous dividend-paying one. Mr. W. D. Holgate, who was also one of the party to visit the mine, expresses himself as thoroughly satisfied with its prospects. He considers that the Blucher reef \i a true, fissure lode of good value. He was struck with the cheapness with which the property is being worked, and the manner in which the reef system has been got in hand. The Blucher reef he describes as being a payable body of ore, encased in two distinctly defined walls, from between which every portion is going through the battery, there being no picking. The stampers, he states, were running at what seemed to him the slow rate of 60 blows per minute, this being accounted for by the fact that the ore was of such a character that a faster speed would convert the sands into slimes and lessen the percentage of extraction, which at present is very good, indicating that the ore is very adaptable to the cyanide treatment. The plant is run by water-power, and Mr. Holgate knows of none capable of being worked so economically. The mine manager telegraphed yesterday afternoon to the effect that the assay values of two samples of ore taken from the new reef were as follows : —Tuesday. £4 15s 4d ton; Wednesday, £9 13s 8d ton.

KUAOTUNU SYNDICATE. The lode recently picked up in the Kuaotunu Syndicate's property, was cut in the floor, of No. 4 level in the vicinity of No. 4 (south) winze. It is clipping rather more to the south than was anticipated, and is now being followed on its course from the winze. The reef contains visible gold and assays' as high as £10 per ton. The hangingwall portion is about Ift wide, but as to the quantity of ore in sight nothing is definitely known. KUKANUT G.M. CO. In the Kuranui Gold Mining Company's mine, at Thames, the tunnel level on Barry's lode is now in 16ft on the hillward side of the crosscut. The reef in the face is about sft wide, portions of it having a very promising appearance. On Monday last two men were put on to open out on the seaward side, and there appears to be much better ground making in the face, which should have a good effect on the reef. Six men are being worked to the best advantage on the lode. Some nice dabs of gold are being met with in the footwall leader when breaking down. HAURAKI MINES, LIMITED.

In the Hauraki Mines, Limited, property, at Coromandel, during the past three weeks all energy has been concentrated in the extension of the stones on the footwall leader. No. 5 stope lias been carried along a total distance of 70ft from the main winze, and during the last two breakings down the leader has been composed chiefly of calcite, consequently no selected stone has been obtained. No. 4 stope having been advanced to where an end of ground has been made, No. 6 st'.pe has been commenced and extended a distance of 17ft. Here the leader is promising in appearance, but only colours of gold have been obtained.

The treating of 23 tons of general ore and 1501b selected stone, has been completed at the company's mill, resulting in a return of 250u 7dwt of melted gold, valued at £71 5a lid, The tributes working on the cross leader occasionally see a little gold. During the week they treated a parcel of 151b of selected stone for a return of loz 15dwt of gold. (These returns came to hand too late for inclusion in our Summary table).

GRAND JUNCTION G.M. CO. [IIV TELEGRAPH. —OWN' CORRESPONDENT.] PAEROA, Thursday. 11l the course of the proceedings at" the Warden's Court to-day, Mr. W. Jackson made application on behalf of the Waihi Grand Junction Gold Mining Company for six months' protection for the Waihi Grand Junction and Waka special claim at Waihi. In support of the application Mr. Jackson submitted a declaration made by Mr. J. M Chambers (attorney for the company in New Zealand). The latter stated that the original Waihi Grand Junction Company was reconstructed sonic three years ago, and the now existing company formed with a paid-up working capital of £37,000, 50,000 shares being reserved for providing further working capital. Of these shares- 30.000 were issued, representing an additional working capital of about £-15,000; that during the last three years the company had been energetically and systematically carrying on mining operations, and had employed on an average about 80 men in their workings; the main shaft on the eastern portion of the property had been enlarged and sunk a further distance of 135 ft, and a large amount of driving and general development work had been undertaken. So far, however, no payable results had been obtained, and the shareholders had had no return whatever for the money they had sunk in the property. The whole of the working capital of the company had now been .exhausted and in order to carry on works and open the mine up at a lower level it was necessary that very much heavier pumping machinery should be obtained, a? that now in use was quite inadequate to cope with the large volume of water which would be

met with at a lower level. Time was required to make necessary arrangements for acquiring a further working capital for obtaining the pumps and machinery required for opening up the mine at a lower level. Mr. W. S. Cooper (accountant of the company) stated that the company had expended the. sum of £101,006 in working its mining properties, £23,059 having been spent in plant and machinery, £46,279 in wages, £22,063 on mine supplies and fuel, and £9605 in general charges. The application was granted. PAEROA WARDEN'S COURT. [BY TELEGRAPH. OWN' CORRESPONDENT.] Paeboa, Thursday. At the Warden's Court to-day, the following applications were granted by Mr. R. S. Bush, Warden: —Robert Worth, Federal special claim, Waihi; Waihi Alma Gold Mining Company, Kitchener special claim; Antonio Yellac, residence site, Karangahake; Talisman Consolidated, Limited, water-race, 15 heads, Waitawheta; Arthur Donovan, residence site, section 270, Waihi; John McCarthy, residence site, Waikino : E. G. Fairbum, part of section 21, Waihi. Absolute and Partial Protection Granted: Waihi Beach United Gold Mining Company, six months' protection for Waihi Beach claim; J. G. Phillips, six months' protection for residence site No. 2440, Waihi; Francis Hodge, six months' protection for Royal Standard special claim, water-race, special and machine sites. Wharikirauponga; Waihi Consols Gold Mining Company, permission to work the Haines Morrin special claim with three men for six months, and six months' protection for Waihi North and Golden Lure special claim. Forwarded to the Minister for Mines: F. Rich, six months' protection for the Wyvern special river claim, and Waihi dredging claim No. 3; Waihi Grand Junction Gold Mining Company, six months' protection for Waihi Grand Junction and Waka special claim; John Chambers, six months' protection for Shotover claim; David Snodgrass, five months' protection for the Poor Man's claim; New Alpha Cold Mining Company, six months' protection for Alpha special claim, also machine and dam sites; Talisman Consolidated, Limited, permission to work the company's claims with rive men each for six months.

SOUTHERN MINING. [BY TELEGRAPH. PEESS ASSOCIATION.] Dunkdix, Thursday. Dunedin Exchange sales: Alexandra Lead, 5s 9d : Boundary Creek, 6s, 6s 3d; Excelsior, 4s 9d; Golden Bed, 12s 6d; Golden River, 7s, 7s 3d; Junction Electric, 20s 3d ; Leviathan, preference, 8s 3d; Leviathan, ordinary, Is lOd; New Halfway House 13s, 13s 3d, 13s, 13s 3d: Notown Creek, 28s 3d, 28s; Rise and Shine, 23s 6d. 23s 3d, 235, 22s 9d, 22s 6d, 22s 3d; Upper Magnetic, Bs. AUSTRALIAN MINING. SAILORS' CREEK G.D. CO. The Sailors' Creek Gold Dredging Company, of Daylesford, have cleaned up for a return of 420z. The directors have declared ii dividend of 3d per share, payable on May 14. J