MINING NEWS.

New Zealand Times, Volume LXXI, Issue 4317, 28 March 1901, Page 6

MINING NEWS.

YESTERDAY’S QUOTATION'S. WELLINGTON STOCK EXCHANGE. Quartz—Kauri Freehold Gold Estate, sellers 7s Cd; Monowai, buyers 2s 6d. Dredging (Weist Coast, Nelson and Marlborough)—Aylmer Lead, sellers par; Duller Junction, sales 9s 9d p ; Fairdown, sellers 3d p; Four River Plain, sellers 3s. dps; . Greenstone■ Gold, buyers,:par, sellers 2s p; Grey River Consolidated, sellers 13s 9d; Hau Hau, sellers £1 2s; Jones’s Flat, sellers Is p; Kohikohi, buyers 4s Cd p; Kohinoor, buyers,Bs p, sellers 8s 6d; Mahinapua, sellers 14s ; Marsden No. 1, sellers par; Old Diggings, 1 buyers, 3s Cd p; Old Diggings (paid up), buyers 10s, sellers 11s 6d; Reefton United, sellers 2s 6d p; Rocklands Beach, sellers £1 Is; Totara Flat, sellers 2s 3d I p; Waipuna Creek, sellers 6d dis. Dredg-j ing, (Otago)—Alexandra Bonanza, sellers i Is dis; Alexandra Lead, sellers £l;\ Cardrona Valley, sellers £1; Central Charlton, sellers £1; Chatto Creek, sellers 13s; Endeavour, buyers 19s 6d ; ! Hartley and Riley, buyers £6 10s, sellers £6 16s; Lady Charlton, sellers par; i Long Valley, sellers £1 10s; Prince Albert, sellers par. , U. S. Watkins, Chairman. C. D. Morpet.li, Secretary.

RATING MINING PROPERTIES, Special to the “Times." HUKIiTKA, Maie!i 27. _ With reference to ti.e county vaiua. t’ions of mining ana dredging i ropvr-t.es wnicli is exciting slicing leu.ing 0.1 the West Const, t«:c "J Hues ” says:—in Jtnu an Act .was passed in .recoup .ioc-ai authorities in mining .districts tor lo.*h ol revenue susi.uik:,, by the abolition of gold duty. J i.e Act permits County Councils 1.0 levy ia.es on ru.-nnig. .property, and by the Rating Ac.- 01 vhich' is incorporated with the Act lor

.rating’ mining propprty. tin- rufr.h.o value or suc.lt p.operly is dennea to be 1 lie price that men pioperty would bring if soid at auotiou. Am* valuer for tlie county and the Judge of toe Assessment Ceu;t tia>. e set tlie Act on one side, anti Lave linked their valuations on the face value of shares In several com., panies, ignoring the test as given by the Act to- take the auction value as their guide. It seems very questionable policy on the part of the County Council to rate the properties of struggling companies at all. The declared policy of the Aot was to recoup local authorities for loss of revenue, and taking that as a basis, no rates ought to be levied on companies till gold is actually being mined. Those interested in this matter would do well to liave the law amen, ded in this direction, or. have the impost done away with altogether. Tlie great argument against levying the old gold duty was the fact that it was a class tax. The same argument applies to levying rates specially on mining property, which pays a much heavier tax than any other land in the colony. GOLD RETURNS. PRESS ASSOCIATION. DU A it DIN, -March. 27. Tlie Central Electric dredge has washed up 550 z 14 dwt gold. DUNEDIN SHAREMARKET. DUNEDIN, , March 27. To-day’s Dunedin Stock Exchange sales were as follows; Premium—Buller Junction, 10s and 10s lid ; Woodstock, 3s <kl. Paid up—Alpine Consuls, 42s and 41s Cd ; Alpine No. 11, 51s, a Is 3d and 40s; Central Electric, 80s, 78s fid, 7Ss, 70s, 755, 765, 75s' Cd and 75s 3d; Charlton Cr'oek, 32s 6d; Dobson. No 2, 12s Eclipse, 31s and 30s; FonrteenMiler Beach, 31s 6d and 325; Gentle An-nie,-41s ■ 6d; Gold Xing,-16s;- Golden Link,'. 19s;, Halfwdy .House, !43s *Jd ; Inch'daley T3s' 6tl : “■ Kelly ’ and*. Casey,' 354 9d,-35s ;6d and 355;;-'Leviathan, 21s-; Ldng;Valley,* 295; Magnetic,’ 30s; Mokoia; 24s’61;’ Nelsori . Crdek' 1584; Sailhriti Bendy Bfts - and’ - 35s- i Upper W agfretife;* SO.s ~6d ! (ten*- shares) ‘■alld 31ft; Vincent Extended, 41s 6d; Wahnumu, 255; ; Lower Enfield, Is discount, v Equitable Exchange.—Electric Ex’tended, 41s; Galvanic, 17s; Gibbs’s

Boacb, ICs; Golden Bend, 21s - Mca Flat. 20s. Otago Exchange.—Gold Queen, 275. DUNEDIN, March 27. At the Lawrence Mining Assessment Court, the Gold Queen Dredging Company'objected tO'the valuation of £SOOO on its claim, which last year was only assessed at £2OOO. Dredging operations commenced in July, but no'dividend had yet been paid. Mr Stratford reduced the valuation to £3OOO, taking the value of shaves at 32s during January. He held the dredge enhanced the claim’s value.