MINING NEWS

New Zealand Times, Volume LXXI, Issue 4307, 16 March 1901, Page 7

MINING NEWS

The Amikitia Gold Dredging Company, Limited, whoso prospectus was published in yesterday’s “ Times,” is evidently destined to be one of the most prosperous ventures of the kind in the northern part of tho South-Island. Its claim includes a freehold block of eighty-fivo acres on the Matakitaki river, and! expert reports on it state that a dredge working for fivo days in the week should return a not profit of £17,985 a year. Such a return, on a capital of £12,000, ought to- satisfy the most speculative investor. The whole of the capital has, by the way, boon subscribed; but in error the .statement was omitted from our columns yesterday that the prospectus was published “ for information only,” the capital being already subscribed.

Mr G. A. Hurley, Wellington broker for tho Golden Bay Gold Dredging Company, Limited, states that the provisional directors have decided to proceied to allotment next week. The directorate is a strong one, and apparently every care has been taken to sea that the claim is likely to prove valuable before placing it before the public. Over three hundred acres are included in the holdings, and it is intended, as soon as the first dredge gets properly started, to begin a second dredge with all up-to-date appliances. It is thought that by combining what is really a double company under one management a very material saving in the cost of management will be made. The richness of the claims is held by the directors to have been proved beyond doubt. YESTERDAY’S QUOTATIONS. WELLINGTON STOCK EXCHANGE. Barrier Reef (paid .up), sides 6s 3d; Croesus, buyers 2s; Aylmer Lead, sellers par; Greenstone Junction, sellers £1 5s 6d; Grey River Consolidated, sellers 14s 3d; Kohikohi, buyers 6s p; Kohinoor, buyers 8s lid p, sellers 9s 6d p, sales 8s 6d p; Maori Queen, sellers £1 15s; Mosquito, buyers 7s 9d p; North Beach, buyers 3s'6d p; Old Diggings, sellers 4s 6d p ; Perry’s Reward, sellers 6d p; Premier Duller, sellers par; Red Jacks, buyers 3s 3d p.; Reefton United l , sellers 2s 6d p; Teremakau, sellers par; Three-mile, (Greenstone Creek), sellers £1 2s 6d; Totara Flat, sellers 2s 6d p ; Victory, sellers 9s 4d p; Central Charlton, buyers £1; Chatto Creek, sellers 15s; Fourteen-mile Beach, buyers £1 13s; Lady Charlton, sellers par; Prince Albert, sellers 6cl p; River Molyneux, sellers 4s 8d p, Second Magnetic, buyers £2 2s. O. S. Watkins, Chairman. C. D. Morpeth, Secretary. MOUNT LYELL RETURNS. PEESS ASSOCIATION. MELBOURNE, March 15. The Mount Lyell returns from the 7th February to the 6th March (inclusive), show that 18,336 tons of ore were treated, also- 7288 tons of purchased ore and fluxes. The converters produced 675 tons of blister copper, containing 666 tons of copper, 45,242 ounces of silver, and 1679 ounces of gold.

DUNEDIN SHAREMARKET. DUNEDIN, March 15. To-day’s Dunedin Stock Exchange sales were: Premiums—Hokitika River, 10s 6d; Kohinoor, Sst 6d; Mosquito, 7s; Pactolus, 28s; Riley’s Beach (now), 15s 6d; Trafalgar, 9s. Paid up—Alpine Consols, 50s, 545, 57s 6d, 66s 6d, 695, 59s 6d, 595, 58s 9d and 68s 6d; Alpine No. 2, 445, 4os 3d, 45s 6d and! 475; Boundary Creek, 27s 6d, 28s, 27s 6d, 26s 6d, 26s 3d and 265; Cairnmuir, 35s 6d; Cardrona No. 2, ss, 7s and 7s 6d; Central Electric, 50s and 58s 6d; Dobson No. 2,12 s; Electric, 555, 54s 9d, 54s 6d! and 545; Electric Extended, 49s 6d, 49s 3d and 495; Gibbston, 19s 6d; Goldetn Bed, 19s; Golden Link, 20s 6d and 20s; Golden Run, 465; Great Central, 40s and 40s 3d; Halfway House, 46s and 46s 9d; Hartley and Riley, £6 17s 6d; Inchholme, 13s; Kelly and Casey, 36s 6d, 375, 36s 9d and 37s 9d; Magnetic, 335: Majestic, 255; New Alexandra, 12s 3d; Premier Waikaka, 8s 3d; Richards’s Beach,'4s, 6s and 4s; Roxburgh Jubilee, 225; Second • Magnetic, 38s and 38s 6d; Vincent Extended 40s 9d; Leaning Rock, 2s dis. Otago Exchange—Buller Junction, 9s 9d; Charlton Creek, 335; First Chance, 33s 6d; Fourteen-mile Beach, 335; Nelson Creek, 665; Sailor’s Bend, 42s 6d. Equitable Exchange—Galvanic, 335; Mammae, 40s; Moa flat, 31s.

GOLD RETURNS., ' DUNEDIN, March 15. Tho following gold returns are announced :

GREYMOUTH. March 15. The return from tho Waiwhoro Sluicing Company (near Barrytown) is 12Soz for tho month. A new- sluicing company for tho Ten Alile, North Beach, is practically floated, and another is rapidly getting under way for Nine Alile Creek. Tho Grey River Dredge is not dredging this week. Boring is going on to ascertain the depth before lengthening tlio ladder.

Oz. Dwt Earnscleugh No II. 82 14 Hartley and llilev ... 43 11 Inchiolmo 21 18 Central Charlton ... 11 6 Inch Valley ... 11 3