MINING.

New Zealand Mail, Issue 1263, 14 May 1896, Page 20

MINING.

BUSINESS ON THE AUCKLAND SUA REMARKET. Auckland, May 12. The following were the closing quotations

din, Is CI: Comstoek, :U ; Hazulbank, :1s !>d; May Queen, 7s : Sheridan, Is Id; Moanatairi North, s'd ; Monowai, h (id ; Norfolk, 3s (Jd ; Occidental, 3d ; Orlando, lid ; Royal, Is Id ; Tapu FUlko, Id ; Victoria, 3s 3d ; Golden Anchor, !>d ; Juno, 5d ; Jupiter, os lid : Kuaotiuiu, Is 3d ; Monarch of All, 2.1.-1 ; Plnunix, sd: Byron Lay, Sd ; | Crown, 31s ; Day Dawn, sid : Hercules, (Jd ; i Imperial, Is 3d ; Ivanhoe, Sid ; Jewel, Paid ! Up, 7d; Jewel, Contributing, (J 1 ; Kinselta's I Freehold, (Id ; Mariner, 3d ; New Zealander, i (id : Oceania, Sd ; Owharoa, 2s !>d ; Portsea, S.ld ; Sterling, 7id : Talisman Extended, Is 3d ; Victor. 2s ild ■, Waihi Fxtended, Ud ; | Waihi - Silvcrton, 71s; Waihi South, 7d ; Waitckauri No. 2,7 d ; Waitekauri No. I. 2s 2d ; Ward Proprietary, 11: Waverloy, Is 2d: Wealth of Nations, Id; Britannia, Sd ; Golden Lead, 7d ; Hauraki No. 2, Is !M ; Hauraki South, Is; Harbour View, ">d ; New Golconda, Sd ; Pride of Tokate.i. Is Id : Tandem, (jd. Uoii.VUT, May C>. A miner, who has arrived from Zoehan, brings samples of galena impregnated with gold obtained from the Hercules mine. The result of the assay is astonishing, as the mineral, though tested in every known way, gave at the rate of IOOOoz to the ton. Sydxkv, May I. In mining there was another busy week on the intercolonial exchanges. Though business was heavy last week", it was marked by a less speculative spirit and less confident tone. Silver opened very firm and steady. There was an upward trend lor the first couple of days, then an easier feeling crept in, and it closed with irregular sales. The Proprietaries show the state of the market. Opening at fiCls, then they touched 52s (id, and (dosed at It's I'd. Tasmaniaus were at higher prices. In gold, Westralians did heavy business all round, values being still on the up grade. Great Boulders, on the strength of recent developments, jumped to .>J'.► !s, closing strong. Victorian stocks worn hardly to firm. Sales of ICapni-Vermonts (dosed at 7s Sd, buyers offering 7s 3d. SVPNEY, May 10. Air Pilcher, Q.C., who has just returned from London, says that West Australian mines are attract'ng a great deal of attention, ami that a bcom is expected ; but he adds " Von may take my word for if, there is more money ready for New Zealand than for any other colony !" 1 he mining markets this week have generally (dosed weaker. Proprietary shares dropped' Hid, and are quoted at '-ISs 3d. I Tn gold and coal stocks there is practically little alteration. At Melbourne during the early part of the week there was a depressed folding, exeeof for Te.smanian stocks. The week (dosed, however, with a more active feel ng in regard to silvor stocks, Proprietary being .somewhat easier. Sales were effected at l~s 7<l. British Broken Hills also pressed on the market, and were quitted at 22s (Id. Gold shares had a good extent of business. Pkutii, May'.i. The quantity of gold exported during April was lii,n72oz, an incren.se of 5(070z over that for the preceding month. Very rich stone has boon struck in the much-despised (Jafhinans mine. An English syndicate having abandoned the property a little time back, a party of working miners took it up and discovered a shoot of gold from which they have dollied fourteen ounces from twonty pounds weight of stone. A very rich lind is reported from Mount Margaret, and large samples of quartz containing big dubs of gold have' been brought in. The prospectors claim £.)!>,(ii)(l for their rights. Another company representative has snapped up tho adjoining ground. The find comprises a hill 2'JO feet high, with the ore in a body 150 feet wide. AUCKLAND, May 7. The directors of tho Sovereign, Waitekauri, have accept d an offer for the option to float tho property in London within four months. The propose 1 terms are Capital, £2<W,O(M: working capital, £25,tW" ; cash, £750(1 and 75,000 shares to local shareholders ; X'IOOO deposit for a few days' option. An interim report on tho Waihi-Silvertoii Company's first crushing state's that 500 tons have been treated, tho average value being 1:1 ss-an extraction of over 110 per cent, of tho assay value. Auckland, May 9. Further particulars with regard to the offer made to place the Maritana mine on the London market show that the terms are of a very satisfactory character, as the local shareholders are to receive 00,000 paid-up shares in the new company and ,£3OOO cash, equal to about Is (Jd per share. The offer made includes the payment of £IOO per month for tho option from tho Ist of June for four months, subject to the reports of Captain Argall and Mr Pond being of a satisfactory character. The Vermont Company have molted 3700 z gold from 308 tons ore. Auckland, May 11. At a meeting' of the Ooromandol branch of the Thames Minors' Union it was decided that, before expressing an opinion as tc the cancelling of the mining licenses on the Kauri Timber Company's lands, it is advisable to

obtain full particulars from the Minister of Mines. Auckland, May 12. A copy of the contract for the sale of the May Queen Extended mine has been received from the London agent for the flotation, and was considered at a meeting of the directors this morning. The terms approved are _as j follow :—The new company to have a capital ' of £150,000 in £1 shares, the local vendors to receive 40,000 paid-up shares; a working capital of '.£30,000 to be provided, and a deposit of £250 paid in London. The option is to bo completed on or before 13th June. The notification from the warden's office calling in the mining leases granted by the warden some time ago over the land in the occupation of the Kauri Timber Company at Tairua has been under consideration by tho Council of tho Chamber of Mines. There was a general opinion that the rights of those who had occupied and worked their claims for years should be respected, and a motion 'was carried affirming that all titles granted by the warden should bo indefeasible, and if any other rights exist with other parties, tho Government should satisfy those other parties. It was further agreed to forward the resolution to the .Minister of Mines. In the course of conversation, it transpired that the Kauri Timber Company were not averse to a settlement, and that an amicable settlement of the whole question might be looked for. From the Crown mines, Karangahake, tho month's return is .£2121". bullion, obtained from 530 tons. Dtjnedin, May 7. Tho Roxburgh Amalgamated Sluicing Company washed up for last month 1530 z 7d\vt 3gs gold, of the value of £SOO 8s 3d. GiiEYsrouTii, May 10. The following Reefton returns are announced :—Drake, l.'floz amalgam, 00 tons, clean up : Cocksparrow dredge. 250 z amaljam, ln;i hours' work; Duller dredge, 51Joz gold, ISO hours' work. SI'ECIAL TO THE NIJW ZEALAND M-VIL. London, March :ii!. As only four business days have elapsed since mv last notes on tho .subject were written,'there is little to tell. The news from the Capo as to the Matabeleland massacre, and Oom Paul's continued stifi-neekednesg, which arrived yesterday, upset tho African market most completely. The collapse ill this section must, inevitably influence the

whole milling market sooner or later, and may have a serious influence on the success ol New Zealand companies on the eve of public issue, as well as upon the share value ~f those already quoted in the lists. But up to the time of writing (-1 p.m.) nothing in the natures of a slump has set in, in either New Zealands or Westralians. They are not so buoyant to-day as twenty-fours hours ago, but are'still steady for the most part. The latest prices obtainable are as follow : Achilles, 2s lid tolls; Blagrovcs, l-s to Is lid; Consolidated Goldmining of New Zealand, 2Jd to 2id : Hauraki, 17s to ISs ; Hauraki Fast, 5a lid to lis lid; Kapanga, 10s lid tn lis: Now Hauraki, (is to lis (id; Scotty's, Hauraki (:U paid), 2s Al to 3s 3d; Royal Oaks (Is paid), 2s Od to 3w 3d ; Triumph, Hauraki, 5s to lis; VVaihi-Silverton, ex, Is; Waihi Grand Junction, lid to ljid; Woodstock, l,d to lid.

to-day :— Bit] 'er?. Se: Hers s, d. s. d. A Ibnrnia Kant 0 4 0 oV Cambria 1 ■1 1 5 Cardigan 1 1 1 i; Golden Point - - 1 s May Queen Extended 1 0 il 0 s Moanatairi 11 0 11 '■) New Allmniia 5 G G o New Wliau ... n 7'-. (I Puru Consolidated ... 1 2 1 "> Kapai-Vermont 7 <i S Maori Dream 1 3 1 G Try Fluke 7 1 'i s •1 0 i) Alpha Central j 0 10 Grace Diu'ling 1 8 2 II Huanui 1 11 0 1 it 1 Ivarangahako King of Wailii ll • i i) 7 Nil Desperandum ... li :', - St. Patrick Stanley 0 II 10 9 ii ii i" if Talisman Wailii Consols 1 1) 1 i -» 1 2 Waitckanri South ... (I G ii Gi Woodstock ... ii") i; 2G o" Young New Zealand 1 10 Bunker's Hill 7 0 i 3 Coromandel Freehold j ii 1 roprietary Four-in-Hand 1 G 1 K Zealandia 1 ii 1 1 ThiYKKK.—Rrokcn Kill .(M: Cif v of Dui