MINING.

Otago Daily Times, Issue 7724, 19 November 1886, Page 2

MINING.

NOTES FROM REEFTON. (Fnoji Oca Own Correspondent.) Reefton, November 17. Globe. —Tho tramway from the winze to tho receiving paddock will be finished by Monday next. In the meantime the stone is being conveyed partly by tram aud partly by trolly, and the battery will be set going on Saturday. There is no news in from the mine to-day; and there can hardly be any change, as only one shaft is employed in sinking. The sharemarket has been rather quiet today. Globes have, however, advanced ls, and are very firm; Wealth of Nations have declared a shilling dividend. Lone Stars are at 5s 3d, very firm. Eclipse remain at about 2s, but there is not much doing in them. Progresses are quiet at about Gs 6d. There are symptoms of an impending movement in Boatmans stocks, Fiery Crosses occupying the lead. Suez.—This ground is situated east of the Globe, and a meeting will be held to-morrow night to decido upon the registration of the company.

Inangahua Low Level.—AlthoKgh nothing has yet been met with in the course of extending the tunnel, there is somo small inquiry for shares, but at a very low rate, upon the mere chance of stone being cut shortly. Lucid —This ground is situated on the south side of Murray creek, not far from the Golden Treasure battery. It has been under lease for a length of time, and tenders are now being called ,f or driving 80ft. It will be recollected that somo stone was found on the lease several months ago which gave 4oz per ton for a parcel of three to'.s. Royal Oak.—The driving of the low level has beeu discontinued, owing to the broken character of the hillside, and the hands are engaged prospecting on the surface. It was reported last night that a promising track of stone had been met with, but there are no further particulars. November 18. There has been very little doing in the sharemark.t to-day; Wealth of Nations are for tbe time being at a standstill. The same may be said of Eclipses and Progress. Globes are very firm anil show a tendency to rise, but nq important move in them may be expected until crushing is fairly under way again. Mining leases continue to be taken up. Within the last day or two there has been a rush for ground to the south and north of the Globe. Most of tbe oo\jptrv on tfce south between the

Inkerman and Globe has now been pegged off, and four new leases havo boen taken up north of tha Globe. It is understood that Mr F. Hunter, formerly of Roefton, but latterly of Silverton, is now on his way buck to this place. Globe. —Nothing fresh to report. The sinking of the winze is proceeding satisfactorily, aud surtace works are all well advanced,the weather beiug very favourable. Mr Priuce, electrician, has reached here, aud is making arrangements to deliver a leoture upon the utilisation of electricity as a motor. Ho experiences some difficulty in obtaiuing tho use of an engine to work a dynamo.