THE GOLDFIELDS.

New Zealand Herald, Volume XLIV, Issue 13391, 21 January 1907, Page 3

THE GOLDFIELDS.

SHARES IN WAIHI COMPANIES

Quotations on the Stock Exclmnge on Saturday for most of the Waihi mining companies' stocks showed a hardening tendency, but beyond the fact that some of the properties are regarded as safe speculations, there is no reason for the advance in values. Waihis were sold at £9, an increase of 4s since the commencement of the week. Sellers of Waihi Beach were holding, at the opening call, for Is, but later shares were offered at 9d, buyers quoting 74d. There was no declared business. In Waihi Consolidated there were sellers at Is Bd, Waihi Extended 5s 5d and sales at 5s 4d, and Waihi Grand Junction 555, buyers of the hitler quoting 495. On the previous day there were sellers at 50s 6d. GAS PLANT FOR WAIHI MINE. The local office of the Waihi Gold Mining Company has received advice that the first instalment of .lie gas producer plant for erection at the mine has been shipped by the s.s. Surrey, which sailed from Liverpool on December 3, and is expected to arrive at Auckland on January 30. When the shipment is landed the work of erecting the plant will he energetically pusned forward. The subsequent instalments of the machinery are expected to come to hand at an early date. WATCHMAN. Mr. M. A. Hill, who has been appointed manager of the Watchman Gold Mining Company's property, takes charge to-day' (Monday), and will start to work the mine energetically with a staff of three men. Mr. Wm. McC'ormiel: has up to the present acted as provisional supervisor. The Tnen who have been prospecting resumed work on the 16th inst.. after interference by the heavy rains, continuing with driving on the outcrop of the Windfall reef, which is a defined body of quarts:, Bft thick. It shows a tail of free gold by panning off. As soon as the mining plan" is completed a systematic scheme of development will be put before the directors. ALBURNIA. lIY TELEGRAPH. OWN -I'ONDKNT.] Thames, Saturday. During tie 1 past week the main tunnel in the Alburuia mine has been extended 16ft towards the point, where it is expected to cut. the Sons of Freedom reef. There is a ; ; yet no change in the nature of the country, which is still a good class of firm sandstone. THAMES. [ lIY I'Rl.Ki;KAl'll. —OWN (URRBSPON DENT, ] Thames, Saturday. Good progress is still being made with the continuation of the crosscut towards the Nonpareil section in the Thames mine, the average distance driven being about 17ft per wee];. The country in the face is still a good description of blocky sandstone. MAORTLAND. SATISFACTORY RESULTS FROM TRIAL PARCEL. [or TELEGRAPH. — OWN CORRESPONDENT.] Waihi, Saturday. An important and decidedly satisfactory telegram was received by Mr. W. M. Jackson, secretary of the Maoriland Gold Mining Company, from the mine manager at Waitekauri, this -morning, stating that five tons of mineralised ore from the- Young New Zealand reef had been crashed, and assayed £3 2s lOd per ton. The parcel of ore in question was taken from a reef fully 12ft in width, which provides unlimited backs, and as the cost of mining will lie comparatively small operations on the lodes should prove of a very remunerative character. DAMAGE TO WAIHI PROPERTIES 15V FLOODS. [BY TKKKCH ■-!•!( -OWN* CORRESPONDENT.] Waihi, Saturday. .Now fiat, the wafers of the Ohinemuri River have subsided, it is found that the New Zealand Crown Company's water-race is damaged to a. very considerable extent. A good stretch of the race, from where it. takes in its supply in the gorge, is completely demolished,'all the timbers being cast up on the hank. There is also a big slip on the. section between (he Talisman office and the. battery. Until the race is repaired iu places, and reconstructed where necessary, it is intended to utilise steam power for the working of the battery, and crushing will be commenced as. soon as further coal supplies are available. THAMES LOW LEVELS SCHEME. [BY TELEGRAPH.— OWN CORRESPONDENT.] Thames, Saturday. At the monthly meeting of the Thames County Council to-day a letter was read from the Minister for mines (the Hon. J. McGownn) expressing the hope that something would be dona in the direction of testing tho Thames low levels. With this object in view, he had provided the means for the payment of a subsidy up to £10,000 and with this inducement "offered by the Government, he trusted that the matter would be taken up by private enterprise.

NEW MAY QUEEN. [lit TELEGRAM.— OWN rOBBESPOXDK.VT.] Thames, Saturday. Work in the New M:iv Queen mine was not resumed until Thursday Lift, in consequence of the amount of foul air and gas which hud accumulated in the workings owing to the stoppage of the Big Pump, and the flooding of tin* mine with water. This difficulty lias now born overcome, and the air is clear again. The work of cleaning up (he levels and slopes is now in progress, and the mine will he in good working older again early next week, when preparations will be a't once made to sink a winze on tho No. 4 lode below No. 6 level, about 10ft eastward of the winze that was sunk from No. 5 to No. 6 level. This will test the value of the lode b -low No. 6 level, and as rich gold was left all along the floor of the level it is confidently expected that this winze will prove that a valuable block of ground exists downwards Stoning operations will also be gone on with above No. 6 level. The battery resumed crashing operations with 22 head of stampers to-day.

NEW SAXON

[by TKLEGIt \PH. — OWN coimv-^toxdks't.] Thajj t:s. Saturday. The accumulation of gas in the working., of (lie Now Saxon mine, which has prevented the resumption of operations since the holidays, Im.s Wen cleared away by the change in the weather, and work was resumed on Wednesday las. at the No. 4 level. The principal work in progress at present is th* continuation of the crosscut in the north wall of the Cardigan No. 1 lode, which is penetrating a first-class chanr:«>l of country, favourable for the" existence of gold in any quart?, bodies that may he picked up. Sloping operniioi on the block eastward from No. 1 winze are also in progress, and the quartz broken shows strong dabs of gold.

THAMES DRAINAGE BOARD. [BY TELEGRAPH. —OWN COBBESPONDENT.] Thames, Saturday. A special meeting of the Thames Borough and County Councils was held to-day, for the purpose of electing representatives on the Thames Drainage Board. The election resulted in the return of the two former members, viz.. the Mayor (Mr. A. Burns) for the borough, and Mr. M Paul for the Thames County Council. MINE MANAGERS' REPORTS. Minerals (January 18): We have had no rain jot and have not started work. The mine Ins -stopped for want of water since the 7ih iiml., and ixuuiot e*art work till rain cornea.