MINING.

Otago Daily Times, Issue 11507, 21 August 1899, Page 5

MINING.

The extraordinary general meeting of the Fourteen-mile Beach Gold Dredging Company, convened for Friday, ISth inst., has been ad-' journed to Friday, 25th iust.

An Auckland telegram states that the Woodstock Company crushed 1080 tons for a month yielding gold valued at 'dSIISO. lhe directors of the Success Dredging Company, Waipori, have declared a dividend of 2s per share, making a total of 12s per share to date.

A dividend of Is per share has been declared by the directors of the Golden Treasure Dredgnig Company, making a total of lls Cd per share since the end of the financial year. Last year's dividends were 'equal to 571 per cent. The directors of the Golden fixate Dredging Company have declared a dividend of 2s°per share after adding a substantial sum to the reserve fund. The directors hope to be able to pay the usual dividends besides defraying tho cost of the proposed alterations and improvements right up to the time the dredge is stopped to erect tho screen and elevator, when dredging will probably bo suspended for a month.

The Mine Manager of the Deep Stream Amalgamated Hydraulic Sluicing Company (Limited) reports that very severe frosts are experienced at the Deep Stream, the company's water race- being still completely frozen up, and that in consequence thereof he has not yet been able to resume operations in the mine The Tuapeka dredge washed up on Thursday, the return being SGloz for 5i days' dredging tune. It is to be hoped this will prove a turning point iv the luck that lias been pursuing this dredge sinco she commenced operations.— Tuapeka Times.

The Lake Wakatip Mail states that it was Reissler and party (not Kelloy's party) who obtained lOOoz for one week's work on the Shotover Eiver about five miles above the Arthur's Point bridge. They are said to have got some 520z for two clays' work, and for a month's work the party of four each got nearly £150. The claim is one that Curno and Son worked for some time.—The whole of the ground originally held by tho Sow Hoy Company at Arthur's Point has now been talcen up—the last claim applied for being the Morning Star ground above Arthur's Point bridge. DREDGING BETUENS. SOME FINE EECOEDS. The Secretary of the Mata-u Dredging Com-i-r.;,y reports a return of 128oz for last week. The Secretary of the- Clyde Dredging Company reports that the return for last week was ■19oz. The river was 20in above the normal Mr Jabez Burton reports that tho return from the Ettrick dredge last week was 15oz Vdwt. Mr L. Ryan, Alexandra, supplies the following; returns:—Molyneux Hydraulic Company," 2-icz; Nil Desperandum," 430z; Galtee More, 9oz. Mr J. D. Buchanan, Secretary of the Unity Dredging Company, reports that the return for last week was 740z lOdwt. The Secretary of the Vincent Company reports a return of M3oz lldwt for 125 hours' dredging. The Secretary of the Enterprise Dredging Company reports a return of 48oz sdwt for ■4 days' dredging. The Secretary of tho Sunlight Dredging Company reports that the return for last week was lGoz lodwt. The Secretary of the Magnetic Gold Dredging Company reports a return for last week of 78oz. The return fi-om the Golden Gate dredge for six days1 work last week was 85oz 33dwi. The Secretary of the Golden Beach Dredging Company reports a return of 220z Oclwt 12gr for ■1 (lays 17 hours' dredging. Mr James J. Gibson, Secretary of the Success 'Oi edging Company reports a return of 30oz for , 137 hours. The Secretary of the Chalto Creek Company re-ports'a return of &)oz for 117 hours' work. The Wniniuum Gold Draining Company washed up 16os. for 110 dredging hours last v.-.-ok. The Secretary of the Manor-bum Gold Dredg- ■■)" Company (Limited) reports a return of 2-Uoa for tho week. The Stock Exchange report the following returns for hist week:—Golden Treasure Company, -iSoy. lOdwt; Otngo Dredging Company, 1707. Hdwt,

Tho Cioldeu Point dredge, having got the now elevator wheels in place, is again working.

Iho returns given below from 22 dredges total" 17'1'Joz 13dwt l'.!«r, or an average of ovor 7)0". per dredge. There are three dredges with three-figure returns, while 16 of the 22 are over

Oz. Dt. Gr. Hartley and Kiley, Cromwell (week) 78G 10 0 Vincent, Clyde (IV. hours) .. ],I 3 H 0 Malii'.i, Clyde (wee!;) .. .. 128 0 0

Golden Gate, Island Block (week) 85 13 0 Magnetic, Cromwell (week) ..78 0 0 Unity, Alexandra (week) .. .. -,i 10 0 Clyde, Alexandra (week) ..49 0 0 I\il Desperandum, Ma-irulieriltia.. 49 0 0 Golden Treasure, Miller's Flat .. 48 10 0 Enterprise, Alexandra (4 days) ..48 5 0 Tuapeka, near Lawrence (ai days) 36 10 0 Success, Waipcd (137 hours) ... 30 0 0 Chatto Creek, Manuherikia (117

hours) .. .. ... ..29 0 0 Manorburn. Manukerikia (week) 21 10 0 Molyneux Hydraulic, Alexandra .. 2-4 0 0 Golden Beach, Alexandra (4d 17hr) 22 9 12 Otago, Miller's Flat 17 11 0 Golden Terrace, Lower Shotover 17 9 0 Sunlight, Beaumont (week) .. 16 15 0 Waimumu, near Gore (119 hours) 16 0 0 Ettrick, Moa Flat 15 7 0 Galteo More, Manuherikia . .. a 0 0 Total 17-19 13 12 THE STOCK EXCHANGE. Sales were made at the Stock Exchange on Saturday at the following prices:—Hartley and Hiley, £0 15s; Vincent, 63s 6d, 63s 9d, 64a; Waimumu, 27s Gd. Sales oi scrip were also made at the following premiums:—Alpine Consols, 2s 3d; Alpine No. 2, 5s lOJd; Gold Queen, 'Is 2d and Is 3d; Richards's Beach, 6s Gd; 'Second Magnetic, 4s. The following aro Saturday's latest quotations, subject to tho usual brokerage: — DBEDGING. Adam's Flat—Sellers Is premium. Alexandra Lead—Sellers 4s premium. '■ Alpine Consols—Buyers 2s 7Ad premium. Alpine No. 2—Buyers 5a 10£ d, sellers 6s 63 premium. . ' Banr.oekburn Creek—Sellers par. Blue Duck—Buyers Is 6d, sellers Is lOJcl premium. Cardrona No. I—Sellers 3d discount. Central Electric—Buyers 12s 9d, sellers 14a

9d premium. Chatto Creek—Sellers SI 15s. Dunstan Lead—Buyers 7s 3d, sellers 83 6d premium.

Earnscleugh No. 3—Sellers par. Electric Extended—Sellers par. Ettrick (contributing)— Sellers 13s. Evans' Flat—Sellers £1 ss. Fourteen-mile Beach—Buyers 6d discount. Gold Queen— Buyers Is 3d premium. Golden Beach (contributing)— Buyers 163j sellers 16s Gd premium. Golden Point—Buyers £1 9s, sellers £1 10s

. Golden River—Buyers 4Jd, sellers 5Jd premium. Golden Run (paid)— Buyers £1 Us, sollers £1 premium. Golden Rue (contributing)— Buyers 12s 3d rnium. : Halfway House—Buyers 9d, sellers Is 4Jd premium. Hartley and Riley—Buyers £S 15s, sellers £&. Inch Valley—Buyers £2 0s 6d, sellers £2 Is 6d. •

Klohdyke—Buyers 5s 9d, sollers 7s premium. Kyeburn—Sellers 2s Gd. Macraes Plat—Buyers 15 6 Gd, sellers £1. .Magnetic—Buyers .£3 Os 6a, sellers £3 3s. Matau—Buyers £1 3s. Miller's Plat Electric —Sellers par. Monte Christo—Buyers Is discount. Naurnai—Buyers 3s, sellers 3s 3d premium. Nevis—Sellers £1 14s. . ■ New Alexandra—Buyers 17s 6d, sellers 199 6d premium. ■ , Nil Desperandum—Sellers £2 7s 9d. Ophir— Sellers 18s 6d. Second Magnetic—Buyers 3s 9d, sellers 4s 6cl premium. ■ Spec Gully—Buyers Is 6d discount, sellers 3d discount. Upper Magnetic—Buyers'93, sellers Is 9<3 premium. Vincent—Buyers £3 4s, sollers £3 43 6d. Waimuinu—Buyers £ 1 7s 6d, sellers £1 Ss 3d. THE GOLDEN MASCOTTE COMPANY. TO THE EDITOK. Sir, —In the report of the proceedings of tha Supremo Court in to-day's Times it will be inferred from Mr Mouat's remarks when addressing the court in support of the petition for winding up the Golden Mascotte Sluicing Company by the court that I pronounced the company's claim on Canadian Plat to be entirely valueless. This, rendering of the meaning of my report would place me in a very ridiculous position. I am always very qareful not to pronounce claims as valueless until I have proved them to be so by thoroughly prospecting them. In this case I only pronounced the claim valueless so far as the quantity of gold in the gravel above the water level was concerned. It would not yield a grain^of gold to the cubic yard. In the prospectus issued by the provisional directors of the company one of the experts who reported on the value of the claim is reported to have said: —"I prospected theground in about a dozen different places, all above the water level, and obtained from a colour to 10 grains to the dish." I concluded my report on the claim by saying that I had no doubt but there were runs of gold on the bedrock running through tho claim, but whether they would bo rich enough to pay for either hydraulicking or dredging could not be ascertained without going jto the expense of sinking a number of paddocks to the bedrock in different positions within tho claims on the flat. ' " ; By inserting the above in the Daily Timea at your earliest convenience, you will very much' oblige.—l am, etc., 'John Doh. Walter street,' Carisbrook, August 19. ■. THE HARTLEY AND EILEY RETURNS. TO THE EDITOR. Sib, —In yesterday's issue of the Times, just to hand, I notice a letter signed " Shareholder," complaining that Saturday's return from the Hartley and Riley's dredge of 160 odd ounces had not been published up to date j also asking the directors how the return could have 'leaked out, as he (" Shareholder") had heard of Saturday's return from the man in the street. Were ho living up here, he would soon know where the leakage is, for I can assure you that five minutes after the gold is banked, the amount is the common topic of conversation all over the township, and the information is not supplied by the bank officials, I can assure you. "Shareholder's" letter caxised a broad grin to spread over the features of those who read it up here. The information supplied in your footnote, that the returns will in future be published biweekly will not help Dunedin shareholders, I am afraid—at least not all of them. They should insist that the daily return should be published on the notice board of the Stock Exchange'as soon as the wire is received from the dredgemaster, who generally brings the gold in about midday. Tho Hartley and Riley" dredge is not singular in having the returns known here as soon as banked.—l am, etc.,

A Cromwell Resideht Cromwell, August 17.

THE DREDGING- BOOM. TO THE EDITOR.

Sib,—M. M'Allan writes you, per Saturday's issue of last week, denying tho truth of my • statements re bank claims on the Molyneux, near Alexandra. Mr M'Allan advances nothing in proof of his assertions further than- to say that I am too inexperienced in mining matters to deserve public consideration of any view 3 I may advance re bank claims. Don Quixote was no less a skilled swordsman because he Dlayed tilt at the windmills. I had really hoped that some person acquainted with mining peculiarities would have challenged my statements re bank claims. But Mr M'Allan, forsooth, an expoliceman and publican, takes up the cudgels. —I am, etc., August 17. . Dbedger.

NOTES PROM EEEFTON. (FKOM OITR Owif COKBE3PONDEST.)

REEFTON, August 10. Latest quotations:—Alpine Extended, Gs 3d lo Gs Del; Big River, 11s to 12a; Cumberland Extended, Od to Is; Keep-it-Dark, 24s to 255; Progress Mines (paid up), 30s to 325; Welcome (paid up), Is 3d to Is 6d; Crcesus (Paparoa), 2a to 2s Gd; Buller dredge, lGs 6d to 17s 6d; Consolidated dredge, 10s 6d to lls Gd; Grey Eiver dredge (contributing), 7s 6d to Ss; Buller Junction Dredging Company (vendors), 6s Gd to 7s; do contributing, 3s to 3s Gd; Reef ton Electric Light, Is Gd to Is 9d.

Returns: —Buller dredge, 12oz gold for 130 hours' dredging; Alpine, HOoz amalgam from, 235 tons stone (top plates); Big Eiver, 1520z amalgam from 110 tons stone.

The manager of the Big Eiver Company reports:—Four men have been rising on stone from the lower intermediate. The stone is small, but carries fair gold. There is no change to report from tho old slopes. Two men are driving over No. 5 level to connect with ths> rise from the winze for air. Tho contractors have driven 14ft for the week. The ground has been very hard, and as there was no indication of a reef, I started them in another face to-day (Friday).