MINING.

Otago Daily Times, Issue 11808, 10 August 1900, Page 6

MINING.

— . q> At a meeting of the directors of the Vincent Gold Dredging Company, held yesterday, a dividend (the fourth) of 3s per share was declared, and £100 was added to the reserve fund. The Secretary of the Dobson No. 2 Gold Dredging Company informs us that he has received the following report from the engineer (Mr Payne): —I beg to report progress of work ■on your dredge as follows: The winch'is now completed, and will be shipped by. next steamer. All other parts of the machinery are now forwarded io the claim, and Messrs Stevenson and Poole inform me that they will have the dredge working in three or four weeks from this date. DUNEDIN STOCK EXCHANGE. Sales took place -yesterday at the following premiums:—Brandy Jacks, Is 4Jd ;• Electric Extended, 19s, 19s 3d, and 19s 9d; Grey River Consolidated, 3s 3d; Island Creek, par; Mosquito, par. Sales were also effected at the following prices:—Alpine No. 2, 355; Cromwell,- £4 17s 6d; Electric (15 shares), £2 17sGold Queen, 36s Gd; Hartley and Riley £9 ■10s, £9 7s..Gd, £9 2s 6d, £9 Is, '£9 ss, £9 £9 Is Gd, and £9 2s; Inch Valley, 355; Junction laectnc, £2; Manuherikia, £4 15s and £4 17s 6d; Sailors' Bend, £2 8s; Upper Magnetic, 2os 3d; Vincent, £3 5s Gd, £3 6s, and £3 5s Gd. The following are yesterday's latest quotations, subject to the usual brokerage- — Ahaura River—Sellers 3d p. Aldinga—Buyers 4£d, sellers Is.p. Alpine Consols—Sellers £1 14s 6d. Alpine No. 2—Buyers £1 15s 6d, sellers £1 16s 6d. Arthur Pbint—Sellers 2s dis. Bendigo—Sellers 10s p. Boundary Creek—Buyers 2s Gd, sellers 3s 3d p. Brandy Jacks—Buyers Is 4|d, sellers Is 9d P-. . . ' ■ ■ Central Electric—Buyers £3 ss, sellers £3 11s. Charlton Creek—Sellers £1 Gs. Chatto Creek—Sellers'£l. Cornish Point—Buyers 2s 3d dis. Cromwell—Buyers £4 17s, sellers £4 19s. Dart River—Buyers 2s Gd dis. Dunstan Lead—Buyers £1 10s, sellers £1 12s 6a. ' Eclipse—Buyers £1 9s, sellers £1 12s 6d. Electric—Buyers £2 14s fd, sellers £2 16s 6d. Electric Extended—Buyers 19s 3d, sellers 19s 9d p. ; Endeavour—Buyers 6s, sellers 8s p. Evans' Flat—Buyers £1 3s, sellers £1 Gs. First Chance—Sellers 15s. Foley's Creek—Buyers Gs, sellers 6s 3d p. Fourteen-mile Beach—Buyer's £1 13s, sellers £1 18s 6d. ■ Galvanic—Buyers £1 2s, sellers £1 3s. Garibaldi—Buyers 2s dis, sellers par. Gentle Annie—Sellers 9s p. Gibb's Beach—Sellers 5s dis. Gold King—Buyers 3s Gd, sellers 5s 9d p. Gold Queen—Buyers £1 15s Gd, sellers £1 16s Gd. ■ . ' . Golden Falls—Buyers 4s Gd p. Golden Gate—Sellers £8. Grand Junction—■' Buyers 2s, sellers 6d dis. Great Beach—Buyers 4s, sellers 2s dis. " Great Central—Buyers 6s, sellers 9s p. Grey River—Buyers 14s, i-rellers 14s Gd p. Grey River Consolidated—Buyers 3s, sellers 3s 3d p. Halfway House—Buyers £1 12s, sellers £1 12s Gd. • Hartley and Riley—Buyers £9 Is Gd, sellers £9 2s. Inch-holme—Sellers par. Inch Valley—Buyers £1 12s 6d, sellers £1 15s. Island Creek—Buyers par, sellers Is p. Junction Electric—Sellers £2 2s. Kelly and Casey—Sellers 6s p. Klondyke—Buyers 12s, sellers 13s. Kohinoor—Sellers 7s Gd p. Leaning Rock—Sellers 4s dis. Magnetic—Buyers £2 12s, tellers £2 15s. Malone's —Sellers par. Manuherikia —Buyers £4 17s 6d, sellers £5. Matau—Sellers £5 ss. Meg and Annie—Sellers £2 7s 6d. Moa Flat—Sellers £1. Mokoia—Buyers 19s 9d, sellers £1 0s 6d. Monte Christo—Sellers 12s Gd p. Naumai—Sellers £1 2s Gd. Nelson Creek—Buyers 18s, sellers £1 p. Nevis—Buyers 17s, sellers 18s Gd. Ngapara. No. 3—Buyers £1 is. , . Oceanic Steam—Sellers Is dis. Orwell Creek—Sellers 7s p. ■ I Perseverance —Buyers £4 1.55, sellers £5. River Molyneux—Buyers Bs, sellers 9s Gd p. Roxburgh Jubilee—Sellers 5s p. Sailors' Bend—Buyers £2 7s 6d, sellers £2 9s 3d. Sixteen-mile Beach—Sellers 2s p. Smith's Creek and Bannockburn—Buyers ss, sellers 2s dis. - • Teremakaa—Sellers par. Teviot—Bayers par, sellers Gd p Trafalgar—Buyers 2s Gd, sellers 4s p. Tyson's Beach —Buyer 3 2s, sellers Is dis. Upper Magnetic—Buyers £1 4s, sellers £1 6s. Vincent—Buyers £3 3s, sellers £3 5s 6d. Vincent Extended—Buyers £2, selleis £2 3s. Waimumu—Buyers £1 7s, sellers £1 Bs. Waiptma—Buyers 3s Gd p. Wntterson's Consols—Sellers Is 3d p. OTAGO STOCK EXCHANGE. Electric Extended shares sold at 19s 3d premium yesterday. Sales were also effected at the following prices: —Central Electric, £3 12s, Electric, £2 16s Gd; Galtee More, 5s 9d; Gold Queen, 365;. Hartley and Riley, £9 ]ss, £9 10s, £9 ss, £9 4s, and £9 ss; Vincent, £3 4s Gd and £3 ss. The following are yesterday's latest quotations: —• Aldinga—Sellers Is 3d p. Alpine Consols—Buyers £1 14s, sellers £1 17s Gd. Alpine No. 2—Buyers £1 13s Gd, sellers £1 17s 6d. Boundary Creek—Sellers 5s p. Brandy Jacks —Buyers Is, sellers 2s p. Central Electric—Sellers £3 14s Gd. Cornish Point—Buyers 3s, sellers Is Gd dis. ' Cromwell—Buyers £4 17s Gd, sellers £5 2s. Daydawn—Sellers Is dis. Dunstan LeacWßuyers SX 11s Gd, sellers £1 12s Gd. Electric—Buyers £2 14s, sellers £2 17s 6d. Electric Extended—Buyers 17s 6d, sellers 19s 6d p. Endeavour—Buyers 7s, sellers 8s 3d p. Evans Flat—Sellers £1 'Is. Extended Fourteen-miln —Sellers 4s Gd p. Galtee More—Sellers 6s.

Gold Czar —Sellers par. Gold Queen— Buyers £1 15s, sellers £1 18s Gd.

Golden Bed—Sellers £1. 3s. Golden Falls—Sellers Gs Gd p. Golden Gate—Buyers £7 15s, sellers £7 19s. Golden Point—Buyers £1 2s. Great Central—Sellers 9s p. Grey River Consolidated—Buyers 2s 9d p. Halfway House —Buyers £1 10s, sellers £1 145., (id.'

Hartley and Riley—Buyers £9 3s, sellers £9 ss.

Hokitika Extended —Sellers Is p. Hokitika River—Buyers 3s, sellers 4s 6d p. Horowai—Sellers par. Junction Electric—Buyers £2 Is, sellers £2 3s 6d. Kelly and Casey—Sellers 8s 6d p. Klondyke—Buyers 10s. Leviathan—Buyers £1 14s, sellers £1 18s 6d. Manuherikia—Sellers £5 2s 6d. Meg and Annie—Buyers £2 4s, sellers £2 Bs. Mikonui River—Sellers par. Moa Flat—Buyers lGs 6d, sellers £1. Monte Christc—Sellers 13s p. Moonlight—Sellers Is p. Naumai—Sellers £1. Nelson Creek—Buyers 18s, sellers 19s 9d p. Nevis—Buyers £1 2s, sellers £1 9s. New Alexandra.—Sellers 19s. No Town Creek—Buyers 6d, sellers 2s 6d p. Olrig—Sellers £1. Orwell- Creek—Sellers 6s 3d p. Otago—Sellers £1 ss. Pactolus No. 2—Sellers Is 6d p. Perseverance—Buyers £5, sellers £5 ss. Point dOr—Sellers 5s dis. Richard's Beach—Buyers £1 Is, sellers £1 3s. Royal Maori —Sellers par. Sailors' Bend—Buyers £2 9s, sellers £2 12s 6d.

Second Magnetic—Sellers £1 14s Gd. Shotover—Sellers 2s dis. Smith's Creek and Bannockburn—Sellers 4s dis.

Sandy Point—Sellers £5 10s. Stillwater Creek—Sellers par. Three-mile Greenstone—Sellers 2s 3d p. Vincent—Buyers £3 4s, sellers £3 6s. Waimumu—Buyers £1 6s, sellers £1 Ss. Waipuna—Buyers 2s 6d p. Wet Lead—Sellers Is dis. Willoughby Cardrona—Sellers 6d p.

THE EQUITABLE STOCK EXCHANGE report as follows: —

Sates: Electric, £2 17s; Electric Extended, 19s p; Hartley and Riley, £9 15s.

Buyers: Cromwell, £4 16s; Golden Falls, 4s Gd p; Grey River Consolidated, 2s 3d p; Meg and Annie, £2 Gs 6d; Prince Imperial, 4s dis; River Molyneux, 8s 6d p; Royal Sovereign, 4s dis; Vincent, £3 2s 6d; Wairmirnu Extended, 15s; White Star, 2s Gd p.

Sellers: Ahaura River, 2d p; Arrow Junction, 3s 6d v; Bendigo, 10s 6d p; Blue Bell, par; Dunadin, 10s Gd; Electric, £3; Electric Extended, 21s p ; Endeavour, 10s p ; Excelsior, 2s p; Garibaldi, par; Gibbston, 6d p; Gold Deposit, par; Golden Banner, Gd p; Golden Falls, 7s p; Golden Gate, £8; Golden Grayel, Is p; Golden Horseshoe, 6d p; Golden Ripple, 6d; Golden Run, £2 14s; Grand Junction, 6d p; Greenstone, 3s p; Grey River Consolidated, 4s p; Harris Beach, par; Hartley and Riley, £10; Junction Electric, £2 4s, Leaning Rock, 2s dis; Leviathan, £2; Meg and Annie, £2 Ss; Mokoia, 225; New Alexandra, 19s Gd; Orwell Creek, 6s Gd p; Otama, Is dis; Premier Waikaka, Is 6d p; Reeves Proprietary, 21s 6d; River Molyneux, 10s Gd p; Roxburgh Jubilee, 7s p; Sailor's Bend, £2 9s 6d; Shotover, Is dis; Triumph, 3d p; Waimumu Extended, 16s; Wet Lead, 2s dis; Woodstock, 3s p.

NOTES FROM ALEXANDRA. (From Our Own Correspondent.)

ALEXANDRA, August 9. The Molyneux is at much tho same, level as yesterday.

The. Unity Dredging Company has been re.gistered as a limited liability company.

Another consignment of timber for the First Chance pontoons has been delivered.

The engines are to hand for the Sailor's Bend dredge.

The Manuherikia dredge is expected to have a trial run in about a week.

The Olrig dredge had a satisfactory run yesterday in the presence of Mr Payne, the engineer, and Mr W. Bxirt, representing the contractors, Messrs A. and T. Burt.

The Molyneux Hydraulic dredge is having broken time this week.

Mr T. Barry, of the Vincent dredge, has been appointed dredgemaster of tho Unity dredge. The Perseverance dredge is repairing. Sluicing should be commenced again at Bald Hill Flat next week.

Most of the electrical plant for the Fourteenmile Beach Company's dredge has been' delivered, and everything should be ready for a start sometime next month. . Vff* NOTES FROM WAKATIPU. "fJ-^ (From Oub Own Correspondent.)' ARROWTOWN, August 4. THE MA.CETOWN HEEFS. The Glenrock Company cleaned up for the month of July obtaining from 125 tons of quartz Sloz sdwt 14gr smelted gold. The small quantity of the stone raised for the month is accounted for by the vein, though of fairly good quality, running very narrow and the country turning hard. The main incline adit is still being pushed ahead, but so far there are no indications of a lode or stone making. In no small measure does the future of the mine depend upon the success of this work, for not only would the striking of payable- stone in the incline face considerably improve the value of this mine, but it would set at rest the question as to whether or not tho lodes of the:, district go down.. '

The Shotover Quartz Mining Company, now in.the hands of Mr James Davis, of Preservation Inlet fame, is showing signs of new life. This mine is a. striking example of the ircissitudes miners may pass through. Being one of the earliest exploited, quartz mines in Otago, it has yielded well, fallen off, and been abandoned; then been taken in hand again, turned out handsome cakes, repeating . the process quite a number of times; until a year or two ago the only means of proving the real value of the mine was adopted. Surveys were made as to tho length of the tunnel that was required to intercept the lode at the lowest practical level. The distance was found to be .not ft«v short of 2000Et. In spite of all this would mean, a low level adit was entered, and near the estimated spot stone was met with of a highly encouraging quality, and since then the manager reports as follows: —

" Last week I reported finding gold in the hanging wall formation. To make sure of it, this wesk I cut into the wall lSin, and got gold all the way. The gold is farther yet in places. This will make the block of stone of iarger extent than I expected." Here we have a clear and indisputable instance of a lode living in absolute perpendicular depth to a point upwards of 2000 ft below its outcrop, and counting higher outcrops upon the same siding, perhaps 1000 ft more. This is a direct refutation to the statement that the lodes in North Otago give out at a depth of 300 ft.