THE GOLDFIELDS.

New Zealand Herald, Volume XXXIX, Issue 12071, 15 September 1902, Page 6

THE GOLDFIELDS.

I & AUCKLAND SHAREMARKET. Tnß market was fairly active cm Saturday. In investment lines, South British Insurances were done at 91s and 91s 6<l, with buyers left at 90s. (With regard to the j statement made in Saturday's Herald, to , the effect that the rise in this company's j shares seemed to point to the probability of an important, announcement being made \ at the forthcoming annual meeting, we are ' informed, on the best authority, that such j statement has no foundation). In mining j lines Kuranuis had buyers at sd. no sellers , quoting. Komata Reefs changed hands at | Is Id, more being looked for at same price, sellers Is 3d. The resumption of operations . in the Waihi South mine caused a- rise in ! the company's shares, sales being reported : at 8d and B£d> sellers closing at lOd. with buyers at B£d. Buyers of Tail in Broken Hills receded from '8s 6d to 7s 6d, sellers ; 9s. Waihis continued to harden, sellers j asking £5 15s. buyers offering £5 10s. i Waihi Consolidated:) had buyers at 7il, j sellers 9d. Waitekauris had sustained in- ■ quiry at 3s Id. selleis firm at 3s 6d. Bun- : ker's Hills were a shade firmer, business | being freely done at from 4s to 4s 7d to j 4s 6d, with more offered at 4s 6d, buyers I 4s sd. New Four-in-Hauds sold at "'/<!. ! In other lines late prices ruled. ! KUItANUI G.M. CO. The foot wall lode has not yet. been picked i up in the Kuranui Gold Mining Company's j tunnel level, but is expected to be to hand i any day. The. country is of a very favour- j able description. ! WAIHI GRAND JUNCTION G.M. CO. The directors of the Waihi Grand June- | fion Gold Mining Company in their annual i report, prepared for the meeting of shareholders called for July 17 last, and copies of which are now to hand, direct particular | attention to the mine manager's report, embodied with their own. wherein the rapid increase of width - that may be. expected in I the Martha lode at deeper levels is re- j marked upon. In this connection it is pointed out that in the top of the rise ! above No. 2 level the lode is 6ft wide, whereas in the level, 42ft below, it is 14ft | wide. Again, 200 ft east of the rise, where ! the lode measured 3ft 3in in the level, a winze was sunk 25ft, the reef there being 13ft wide. These indications of increasing ' width, together with the probable extension eastward of the lode at greater depth, »}- ford the directors reasonable expectation that at the next, level considerable ore reserves will be opened up. The report goes on to state that No. 1 shaft has been sunk 135 ft below the 5000, level, and everything is in readiness for crosscut ting to the Martha lode as soon as the Waihi Company have reached a similar depth. The south crosscut from No. 1 shaft having been extended 947 ft was stopped, the manager being of opinion that no lodes would lie found in that direction until deeper ground could be explored. The report concludes by stating that of the £30,000 worth of 5 per cent, first mortgage debentures, created after the expenditure of the funds arising out of the last issue of 8500 reserve shares, £20.000 worth were offered to shareholders at par. and subscribed. In his report, the mine manager expresses concurrence with the course being pursued at present, namely, awaiting the developments in depth of the adjoining companies, and in future the intersection of the lodes at similar depths .simultaneously, so that each company, may not be burdened with pumping more than its own share of water. Alter giving details of the work done in both sections of the company's property, the manager concludes by stating that in j his opinion the Grand Junction area pos- I sesses exceptional merits, and that it may i in depth become one of the most valuable j gold mines in these colonies. He justifies | this belief by the convergence of the lodes I eastward, and in depth in the Waihi mine, and by the dip of that mine's ore chutes easterly. With regard to the Waihi west area, he states that after a better acquaintance with the true geological conditions he is disposed to think that the big slide between it and the Waihi mine will probably cause a concentration west of the former, and that, if so, rich chutes will be found in the lodes there. BUNKER'S HILL TRIBUTERS. The demand for Bunker's Hill shares still continues on the Stock Exchange, lines '■ changing hands up to 4s 7d on Saturday. ' No information is to hand as to the result ' of operations in the mine. Our Coromandel correspondent states that beyond rumours, to the effect that specimens are still com- , ing to hand, nothing definite is known, the i tributers being reticent. HAURAKI TRIBUTERS. The tributers in the Hauraki mine (Me- : Intosh and party) have crushed 961b of stone for a return of 1620z of bullion, valued ■ at about £480. HIKUTAIA GOLD SYNDICATE. [BY TELEGRAPH. —(Iff.V CORKKSPO.VPKNT. j Thames, Saturday. The Hikutaia Gold Syndicate flushed during August 520 tons of ore, for a return of bullion valued at £275 lis. This is an improvement on the return of the previous month, although it does not in- | elude the bullion obtained from slimes j during the month. WAITAIA G.M. CO. [BY TELEGRAPH. —OWX CORRESPONDENT, Coromandf.l, Saturday. The Waitaia Gold Mining Company (Kuaotunu) have completed a. crushing of 50 tons of general ore., for a return from the plates onlv of 470z I4dwl of melted gold, valued at £149 2s 3d. The mine is looking well, a.nd the Irene, battery will be kept fully employed for some time crushing for this company. DREDGING RETURNS. DrxEDix. Sunday. The following di edging returns are to hand : j Alexandra Lead. 2130z 14dwt : Manuheri- i kia. 950z 15dwt: Eamseieugb No. 11., 90oz 9d\\i 3gr: Sailors' Bend, 82oz; Ben- ' digo. 80oz: Unity, 770z ; Molyneaux ! Hydraulic, 71oz 3dwt; Rise and Shine, : 620z 18dvvt: Dtmstan Lead, 520z ; Empire. 51oz sdv,i : Davie' Lend. 420z 12dwt: Perseverance No. 11.. 4lbz . 2dwt 18gr; Prince Arthur. 40oz: Mafaii, \ 38oz; Chicago, 38oz 9dwt 6gr; Olrig, 320z ' 7dwt: Old Dunstan, 30oz; Karnscleiic;!i : No. 1., 290/ lOdwt 9gr: Perseverance , No. 1., 260z 19dwl 6gr: Success, 250z; , Alexandra Eureka, 19oz; Ngaparu No. 11., ■ 18oz 16dwt; Gabriel. 17oz 7dwt; Majestic, ' 17oz 2dwt : Happv Vallev, 15oz : Tuapeka. I 1 looz; Clyde, 12oz: Electric No. 11.. lOoz j ; odwt; Kelly and Casey. soz sdwt; Golden ; River, soz sdwt. ' •' West Coast: Staffotd Waimea, 15oz ' sdwt; Garibaldi. 10oz lOdwt. Up to the end of last Week the total j gold won by dredges in (Hugo and South- I land since January 1 was 74.2820z 17dwt 23gr, as compared with 45,3920z 15dwt I llgr for the corresponding period last veai, and 42.9640z for the same period in 1900. Roughly the yield of gold from the , dredges this year is valued at £285,485. GiIEYMOCTfI. Saturday. i The following dredging returns ate to i band: Greenstone Thee-mile. 40oz odwt '• lor 105 hours; Mokoia, 390z sdwl f«n the. i week; Red Jacks, 50oz lot 115 hours; Welcome, 2Ro Z 13dwl for 134 hours • Buile,- ' Junction, 260z tor 125 hours; Paetolus, ; 250z lOdwl for 124 hours; Mosquito, 21oz lor 123 hours: Oallaghan'.s Greek, 20oz , lOdwt foi 130 hours. ' ( ,' - i , ' i ; , i