MINING.

New Zealand Mail, Issue 1265, 28 May 1896, Page 35

MINING.

Auckland, May 2Cb Business was brisker to-day on the Exchange than it has been for some time past and the demand for shares was not confined to any particular district. Hazclbanks advanced from 4s 3d to 4s id; May Queens reached 7s 9d ; for Moanatairi shares, buyers advanced from lls to 12s, saleH being also made at tho latter price. For Albumins, 5s lOdwas freely offered, while Puru Consolidated advanced from Is 9d last evening to 2s 5d to-day. Victorias also moved upwards, sales being made from 3s. del to 3s 7d, with still buyers at the latter price. Alphas were also firmer in price, while talismans advanced to 14s Gd buyers, and no sellers under 15s. The most remarkable advance to-day was in Woodstooks, which sold this morning at 31 s Gd and then rose to 3Gs, with still buyers at 355, and no sellers under 38s. 11ns was due to the reef assaying worth £25 per ton. Coromandel stocks were also firmer. (Hauraki South sold at Is 7d, and Progress Castlerocks up to Is 2d, while New Tokateas, Now Golcondas, and Four-in-Hands were all a shado firmer. Kuaotunu stocks met with enquiry. Golden Anchors up to Is, Midas at Is 9d and Kapai Vermonts up to bs 3d. , T ~ Auckland, May 20. Business continued brisk on the Exchange on Saturday, more transactions being reported in high-priced stocks than on the previous day. In Alburaias sales took place as liigh as 10s, the market closing with sellers at Orf Gd. Cardigans also advanced from Is UI to k> H 7d in consequence of a deposit being paid ‘or the option of floating the property m London City of Dunedin shares also sold as hbdi as 2s id, and Golden Points up to 2s M. In Upper Thames stocks sales of Alphas were recorded at 7s, while Is Id was oflered for Centrals, and Grace Darlings sold at 2s fid. The demand for Owharoas continues, sales being made at 4s Gd, with further buyers at the price. Talismans wore a shade easier, being sold as low as 15s Gd, but there were firm” buyers at that price. Ireo trailsactions Lvc reported in JWK- «w*«w at 7tls and 775, ami in Woodstooks at J(s Oil, at which figuro there were further buyers. Bunker’s Hill shares firmed a little selling un to 8s Four-m-Uands were a shade easier, being sold at Is Sd and ls9d,w, h plenty of buyers at the latter price. Hauraki South shares advanced a little, sales being made up to 2s Id, while 2s Id was ottered for Hauraki North. Free sales took place in Progress, Castlcrock at Is Id, while transactions took place m Kapai \ ermonts at b* J^Alto'T cther tho market closed well after a busy week, and should open strong again on Tuesday morning. THE STREAM OF ENGLISH CAPITAL FOR NEW ZEALAND MILES. The booming of New Zealand mining properties which we foretold some weeks ago, says the London Sun of March Gth, shows signs of beginning, and several companies with substantial capitals _ have appeared within a short period, This week appears

the Southern Star Gold Minos, Limited Hauraki, Now Zealand, with a capital of ,£75,000 in 000,000 shares, of 2s Oil each, it has been fonnod to acquire and develop the property known as the Southern Star Licensed Holding, containing about 15 acres, situate in the Coromandel Goldfields, New Zealand, held as a licensed holding under tho usual conditions, and comprising about one-half of the original Success mine, and immediately adjoining the Irj Again and West Try Again mines. The purchase price has boon fixed at .£./>,OOO, payable as to =£37,500 in fully-paid shares, and as to the balance in cash or shares, or partly m cash and partly in shares, at tho option of tho directors. Tho present issue is oi 300,000 shares, of which 200,000 are to be appropriated to working capital. Readers will remember the remarks on tho gold raining prospects of New Zealand which appeared in this column a few weeks ago the Sun remarks, and how it was pointed out that in reality, though less boomed than some countries, New Zealand shows every sign of a great future. Since that tune several references to the subject have leaked out which go a long way to confirm our contention. This morning the Financial Lows publishes a letter signed “Globe-trotter,” who states that though at Coromandel a year a <r o, tho change even in that short time is marked and sleepiness has given place to activity and mining work. The writer goes on to touch on several promising mines in the neighbourhood. Gold and silver slugs only used to he carried in miners’ pockets; now, specimens of copper, nickel, and ruby silver are shown and argued about. Auckland, May 20. The directors of tho New Whau Goldmining Company met to-day to consider an offer received ior the option oi floating tho property on the London market. I lie terms are that a company is to he formed with a ranital of .£150.000 in =£l shares, the Lew Whau shareholders to receive 30,000 fully paid-up shares, and the Clunes slnireholdors 15 000 shares, a working capital ol -£--,.)00 to bo provided. Under these terms the shareholders in both companies receive at the rate of three paid-up shares lor every 1) held in tho present companies. The directors decided to accept the offer subject to a deposit being paid towaids the working capital, such sum to ho expended in developing tho property. The combined area of these properties is 74 acres. The following cablegram was posted at the Exchange to-day New Tokatca underwritten. Will bo iloatod immediately alter Whitsuntide holidays.” _ . As to the New Alburma property,t he balance of the =£lo,ooo cash to he paid to the local shareholders lias been lodged m the bank to their credit, tc ho paid over as soon as the meeting of shareholders to confiim the gale has been held. . A cablegram has been received re the Hauraki South, stating that -£OOO cash, payment on account of tho purchase money, has been deposited in the Bank ot New Zealand. Auckland, May 22. At a meeting of tho shareholders of the Monowai Company the directors were authorised to dispose of tho property on such terms as they thought fit. . , , ~ Cable advice was received today stating

that tho Sphinx property at Owharoa had boon floated in London by Messrs Inglis and Robson. The directors of tho Mantana Company received a cablegram asking that the terms ot option upon which this property has been offered for flotation on tho London market he modified, but this request has boon declined, and the property withdrawn, as a vory much better offer has been received by tho directors. THE FAME OF NEW ZEALAND VENTURES. INTERESTING LETTER FROM COUNT JOUFFRAY D’ABBANS. Auckland, May 21. At a meeting of tho Financo Committee) of tho Chamber of Mines, the following letter was received from the French Consul at Wellington:— “ Wellington, 18th May, 1890. I have noted in a groat many French papers that transactions arc made on the Continent in New Zealand mines which have only a problematic existence. If the practice becomes general, it will cause great prejudice against honest ventures, and it will sully the good name of the Colony. I suppose you have a register of the mining companies in your province with the shares quoted at the Exchange. I should like as complete a list as possible of all the existing companies, with tho amount of capital value per share and tho actual price of the shares, position of the niino, &e. I shall send this list to Paris and give it pub--1 icily, which will benefit your Chamber, and will prevent the sale of valueless titles.— Comte De Joufkbay d’Auuans, French Consul.” , , ~ Is was agreed to recommend to the Council that the French Consul bo furnished with all information available respecting the mines registered with tho Chamber. The members present were of opinion that the furnishing of this information would show the advantage to a mining company of being registered with the Chamber, and would no doubt load to every company in tho district being ho registered. It was agreed to forward information respecting those mines registered with the Chamber, together with plans, to tho AgentGeneral in London. Blenheim, May 20. At the Wakamarina Gorge work is progressing satisfactorily. Everything is m good working order, and good prospects have been obtained. It is expected to bottom in the course of a few days, and results of an encouraging nature are expected at any time. _ ~ or Rkefton, May 2o The'following are Saturday’s prices : Big River, 235, 21s j Bullor Dredge, os -d, Gs 3d; Cocksparrow Dredge, Is Gd, Is .HI; Cumberland, 3s, 4s ; Exchange, Is fid Is 9d ; Dillon Extended, 2s Gd, 2s 9d ; Hercules, 3s Gd 3s 9d ; Keep-it-Dark, 30s, 31s; Golden Lead! £1 Is 3d; Inglewood, £1 Is 3d ; i Lyell Creek, 3s 3d, 3s Cd ; Lord Edward, 2s Gd, 2s 9d ■ No. 2 South Dark, 2s 3d, 2s Gd ; Success, Is ’2d, Is 3d ; Alpine, 10s, 17s ; Welcome, 2s 3d, 2s Gd ; Electric Light, 4d to Cd. The following battery and dredging returns

aro to hand ;—Big River, 3680 z amalgam from ! 110 tons stone, top plates; Bullor Dredge, ' I7oz 27dwt gold for 120 hours’ dredging. Hokitika, May 25. The Ziman Company, who have recently exercised their option of purchase of Humphrey’s Gully Company, finding a working capital of £50,000, have purchased the Union Bank block of buildings in Rovoll street for otlicos. THE WEEK’S AUSTRALIAN MARKETS. Adelaide, May 20. A reef nino inches wide has been out in tho Kapanga mine at Coromandel, at a depth of 930 foet, carrying splendid gold. The discovery is of very great value to the company, and of the utmost importance to deep level mining on the peninsula, and there is great excitement at Coromandel. Sydney, May 23. The revival of the mining market appears to have come to stay, and this was another extremely busy week in all intercolonial exchanges. Very heavy business was done in Broken Hill stocks. The Proprietaries, Junction, Junction North, British, and South group were in strong demand at good advances, ami smaller-priced stocks were also largely dealt in at improved prices. After easing a little in the middle of tho week, Proprietaries had closing sales at 51s ; Junction North, 37s 9d ; Junction, 82s ; and the market closes active and firm. In Tasmanian silver stocks, tho Mount Lyell group has rapidly advanced, owing to large speculative purchases, chitdiy on Melbourne accounts. As to gold shares, each lveok sees now West Australian ventures added to the sharelist, and dabblers in these stocks arc largoly increasing. Tho business done in thorn is widening daily, and is now vory extensive at advancing prices, the market closing strong for the week. Victorian and Queensland gold stocks are also more in evidence, as tlio improved figures show. No sales of New Zealand stocks aro reported this week. Interest in copper shares has revived slightly, consequent on the improvement in London. Melbourne, May 23. A marvellously rich find is reported from Sharpe and Barry’s amalgamated mine, Maryborough. Two hundred ounces of specimens obtained from a pocket at tho 3<JUft level are estimated to contain over 100 ounces gold. Tho reef is large, and shows gold freely throughout. Another rich discovery has been made in the Hastings Brothers’ claim adjoining. Two loads yielded nine ounces, exclusive of several ounces obtained from dish prospects. Hobart, May 23, Matters in connection with mining are showing a marked revival. Enquiries are being received from all parts oi the world regarding the mineral districts of the island. Many abandoned fields aro again coming to the front. The Mines Department is un-hie to cope with the increase of business through the inquiries and applications that are pouring in,