MINING NEWS.

New Zealand Herald, Volume XLVII, Issue 14492, 5 October 1910, Page 5

MINING NEWS.

OLD HAURAKI. RETURN OF £935. TOTAL TO DATE, £14.347. I Tub Old Hauraki Gold Mining Company during the past month crushed and treated 110 tons of quart* and 28011) of picked stono for ». return of 3140z retorted gold. i Allowing for a Blight waste in further treatment, and estimating the bnlanco as worth £3 an ounce, the valuo of the return may bo put down at. about £935. This, compared with tho return for the previous month, represents a falling oft', tho yield for that period being £1566 5s 9d from 110 tons of quartz and 3701b of picked stone. Tho total valuo of bullion won from the mine by tho present company to date is £14,347 13s Id, as shown iu tho following table of details: — £ .. d. To July 1. 1909 829 6 3 Dec. 23, 1909, 30 tons. 2101b an.. 51b p..s. 1,456 12 6 I Jan. 31, 1910, 22 tons, 8601!) sp., | 31b p.s 4,286 1 9 ! April '!. 1910. 50 tons. 2801b sp. ... 786 10 10 April 30, 1910, 15 tons. 1301b p. 3.... 527 5 0 Juno 2, 1910, 27 tons, 1901b p.s. v . 887 8 0 ! .tune 30. 1910. 64 tons. 39011) p.s. ... 1,565 i 9 July 30, 1910. 95 tons, 33011) p.s. ... 1.508 1 .i August. 31, 1910, 110 tons, 370!t> p.s. 1,566 5 9 October 4, 1910. 110 tons, 2801b p.s. 935 U 0 Total to date £14,347 13 1 Total paid in dividends ... £2,625 0 0 MAY QUEEN. RETURN OF £480. The manager of the May Queen mine, .Thames, advised yesterday that he had crushed 190 loads of quartz and 2011) of picked stone for a return of 1720z retorted gold. Tho return at £2 16s an ounce, and allowing a little for reduction in further treatment, is estimated as worth about £480. This brings the total value of tlio gold won from the mine since the present company was formed in May, 1907. to £11.283 18s 4d.

WATCHMAN.

£126 FROM 22i TONS. The manager of the Watchman mine, Thames, telegraphed as follows yesterday: — " Twenty-two and a-half tons crushed. Return £126 17s Sd." The ore in question was treated at the Waiotahi battery, and was broken in the drive on tho City of Duncdin reef at tho Royal Charter level. The manager, in his report- for the week ended October 1, states:—"The south-east crosscut, to intersect iho Windfall reef has been advanced 14ft for the week, making 297 ft to date. This leaves 3ft to complete tho distance laid down by the surveyor, but, owing to the very hard ground penetrated for the last 60ft, it is only natural to suppose this should have the effect of straightening the reef, which will mean a little further to drive. At. present a decided change is making in the face. Quartz stringers are crossing it. at right angles, and a little water is making. Two shifts have been engaged advancing the south face on tho City of Diiiiedin.reef. there being very little change in the appearance and quality of the ore since tho break was first met with. None of tho stono. however, can bo classed as picked stone, but ore of a high grade continues to como to hand, and this is carefully bagged before leaving tho face." ROSS GOLDFIELDS. MEETING OF LOCAL fill ARKHOLDERS. A meeting of local shareholders in (he Ross Goldfiolds, Limited, was held in the Auckland Stock Exchange callroom yesterday afternoon for tho purpose of considering matters relative to the reconstruction of the company. There were 15 shareholders present. Mr. G. A. Buttle said he had called tho meeting together at the request of the liquidator, who had asked him to convey tho views of local shareholders regarding tho reconstruction of the company. The prosent liabilities amounted to nearly £5000. Mr. Buttle was elected to the chair. Mr. F. Hull said that, although the mooting was a small one, it represented a good many shares. In his opinion, and he believed in that of local shareholders, tho company should be re-formed, with a capital of £80,000, in 80.000 shares of £1 each, 70,000 shares to be issued paid tip to 14s or 15s each. He moved in that direction. The Chairman moved that they recommend tho liquidator to adopt tho following schemo of reconstruction:(l) "That a new company be formed with a capital of £80,000. in 80,000 shares of £1 each. (2) That 70,000 shares be offered pro rata, to the shareholders of the Ross Goldfiolds, with 14s. paid up, thus carrying a liability of 6s per share." This, lie said, was on the basis of the old company. Mr. H. Masfen seconded, and Mr. Hull withdrew his motion in favour of the chairman's, which was carried. , The Chairman moved, "That it be suggested to tho liquidator, if ho carried out tho scheme, that he raise capital _by making Is per share payable on application, and Is per share on allotment." Such a course, he stated, would provide £7000, and would enablo tho company to clear off liabilities, | and leave £2000 in hand. Mr. Hull seconded, and the motion was ' carried. It was further decided to suggest, that the company's office, if possible, should l)o located in Wellington.

WAIHI SHARES. On the Auckland Stock Exchange yesterday Waihi shares showed first a tendency to improve, and then fell away considerably. As compared with £6 17s, tho closing sale tho previous clay, shares sold at the first and second calls at from £6 17s 6d to £6 17s to £6 17s6d, and at the third call they fell, sales being made at from £6 16s to £6 14s to £6 14s 6d. The closing quotations wore buyers £6 14s, sellers £6 15s. Tho London quotations on Monday wore buyers £6 8s 9d, sellers £6 lis 3d. UNION HAURAKI. [BY telegraph. OWN CORRESPONDENT.] CoitOMANDEI,, Tuesday. Good progress continues to bo made in linking tho shaft in the Union Hauraki mine, which is now 70ft below the 140 ft level, or a total depth of 210 ft. Excellent country is being passed through, and more quartz is coming in. WAIHI WARDEN'S COURT. [by TELEGRAPH. —OWN CORRESPONDENT^ Waihi, Tuesday. At a sifting of tlio Warden's Court to-day (Mr. F. J. Burgess, Warden, presiding) tho following mining applications wore dealt with:Waihi Beach Mines, for protection for tlio Waihi Beach Nos. 1 and 2 special quartz claims. Waihi Beach foreshore, and Taipari special quartz claims, recommended for four months. O. A. Goodridge, for a prospecting license for 100 acres near Waihi, formerly known as the Eliza claim, granted for 12 months. John Kneebone, for six months' protection for tho Waihi Star, Nos. 1, 2, and 3 special quartz claims, consented to by the .Minister and granted as from September 6. W. H. Konnerly, for 12 months' protection for tho Waihi Central, Nos. 1, 2, and 3, consented to by the Minister, and granted for six months as from September 6.

NOTES. In the Victoria mine, Thames, the reef in the western crosscut at No. 2 level is showing considerable improvement, and the manager expects it to develop gold. Twentyfour loads were being put through the May Queen Extended battery, and the. clean up is expected at the end of this week. The manager of the Silver Streams mine, Jlarototo, reports that the tunnel is in 500 ft. No change has taken place in the lode in Corbetf's level. It maintains a width of 4ft. Little bunches'of sulphide were occasionally met with during the week. The roof is easier broken than for some time past, and looks more promising. In the Kirikiri Consolidated mine the main drive has been extended loft, making 799 ft. The reef has been gradually getting sirfaller during the week, owing to a break that has com© in, but the quartz is starting to make again on the hangingwall side. A lot of bright, mineral in a small stringer on the footwall has been seen during (ho week. Moisture is coining in cm tlio liajigiugwall.