MINING.

Otago Daily Times, Issue 11918, 17 December 1900, Page 6

MINING.

The directors of the Success Gold .Dredging Company have declared another dividend of 2s per share to the fortunate shareholders. During the holidays the new boiler will be placed in position. Messrs Morgan and Cable being the contractors, and work will be resumed about the second week in January, 1901, with the prospect of good returns and regular dividends. A Reefton telegram reports a return from the Khrwnn's Reward claim of 2290z amalgam from 115 tons (top plates) for the week. ' The Dredgemaster of the Vincent Extended dredge telegraphs that a trial run of the machinery on Friday resulted very satisfactorily. At an extraordinary general meeting of the Klondyke Gold Dredging Company, held last Friday evening, a resolution favouring the voluntary winding up of the company was confirmed. Mr George F. Jcffery was appointed liquidator. The Secretary has received from a director of the Leviathan Gold Dredging Company the following message:—"Dredge worked well since Sunday. Still working tailings. Returns expected about as last. Wire them Saturday.' The statutory half-yearly meeting of the Phoenix Water Race Company was held m the company's office, Dunedin, at noon on Saturday. Mr Spencer Brent occupied the chair, and the manager (Mr .1. Mpuat) and a quorum of shareholders was present. The business submitted was asreed to without dissent. Messrs D. Brent, S. Brent, J. Barlleman, and Goldsmith were re-elected directors, and the auditor was also Tcappointed. This composed the business, but during the proceedings the chairman mentioned, that it was the intention ot the directors to declare a dividend of 2s per sharo. The Secretary of the Digger's Pride Gold Dredging Company reports that the directors have boon for the last three, or four months submitting the claim to a series of tests^or the purpose of learning the value of the ground. Considerable delay has taken place before, this could be accomplished, owing to the difficulty in obtainiiit, the necessary plant and the services of a competent and reliable expert to supervise and report on the testing. Eventually tho rlirectors were fortunate enough to secure Mr J. P. Smith, and Mr W. B. Waters,, of the Otago School of Mines, and these gentlemen have iurnished full and exhaustive reports on the ground, which justify the directors in taking the necessary steps to acquire a dredge to work the claim.' They have accordingly instructed their engineer to prepare the plans and call for tenders.

The Manager of the Girilambone Copper Company report's:— A total of -fC tons of ore. nver-ii.o-inV 5.20 per cent, for copper, was raised at the Girilambone mine last week. In driving a- stope at No. 2 level the main footwall rock was struck at a distance of 2ft. The intermediate drive on the blaoV: ore zone between Nos. 2 and 3 levels has been driven a total of soft. Gin cast from Symon's stope. On Friday they broke through to the south end oi main shaft, which is all in ore at -this point, and samples laknn from face of drive, sft wide, gave 7.5 per cent, for copper. The ore is ail of thr> some characte^black oxide and pyrites mixed through a matrix of talc "and quartz. The workings at Nos. 4 and 5 levels maintain a promising appearance. Messrs'A. and T. Burt have received 0 wire that the pontoons for the Dart River Gold Dredging and Prospecting Company were successfully launched on Tlmrpcl.ny la?t. Tenders are invited for the purchase of the New Alexandra- clreilqc. now working on the claim at Mutton Town Point.

REPORTS FROM WORKING DREDGES.

The Secretary of the Ricbards's Boacli Gold Dredging Convpanj reports a return of 28oz 17dwt for last week. The Secretary of the Unity Gold Dredging Company reports a return of Goz foi the week endrd December 15. The Secretary of the Gold Queen Dreclgine Company reports a return cf 470z 12dwt of gold for 122 .hours' dredging. The Secretary of the Waimumu Queen Dredging Company reports a return of 19oz Bdwt 18gr for ]28 hours' work. The Secretary of tho Waimumu Gold Dredging Comrany (Limited) reports a return of 7oz sdwt gold. The Secretary oi the Waimumu Central Dredging Company reports a return of ]9oz for 123 hours' dredging. The Dunedin Stock Exchange report the following returns foi last week: -Gold™ Treasure Company, 440z 3dwt; Otago Company, 13oz. The DrcdKemaster of the Golden Beach Hydraulic Elevating and Dredging Company (Limited) reports that he washed up 290z 4dwt 2gr gold for 06J hours' dredging. Wash improving.

The Secretary reports that the Earnscleugh No. 2 dredge obtained 103oz 17dwt 6gr for 123 hours' dredging. Mr Lawrence Ryan, Alexandra, reports that the return from the Molyneux Hydraulic dredge is 690z. The Secretary of the Nevis Dredging Company reports a return of 230z for 117 hours' work. The Secretary reports a return of 17oz from the Ngapara No. 3 dredge for 100 hours' dredgThe Secretary of the Chicago Dredging Company reports a return of 12oz for 124 hours' dredging. Mr James J. Gibson reports that the return from the Success dredge for the tliTce days up to Tuesday was 220z 7dwt 15gr, including 3oz 7dwt 2gr amalgam. The Secretary of the Central Mataura Gold Dredging Company reports a return of 21oz from the prospecting dredge on No. 2 claim for 110 hours' work. The Secretary of the Alexandra- Eureka Gold Dredging Company reports a return of 61oz for the week.

The Secretary reports that the AVaimumu Extended Company's dredge obtained a return of 12oz 17dwt for 125 hours' dredging.

The Secretary of- the Golden Gate Dredging Company reports a return of sßoz for six days' dredging. The river is falling. The Secretary of the Horning Star Dredging Company reports a return of ISoz for 125 hours' dred»in>». The Dredgemasler of the Central Charlton dredge wires: —" 17oz foi eight days' work. The winches having broken down, are being sent to Ota"O Foundry its be put in thorough good working order." " / The Secretary of the Paul's Beach Dredging Company reports a return of 12oz lldwt for the week ended Saturday last. The Secretary of the Vincent Dredging Company reports a Teturn of 12oz lOdwt for last week.

, The Secretary reports a return of 30oz 17dwt 18gr from the Central Electric dredge for 110 hours' dredging. The Secretary of the Charlton Creek Dredging Company reports a return of 240z for four and a-half days' dredging. The Secretary of the Magnetic Dredging Company reports a return of l.'oz for two and a-half days' dredging. The dredgemaster reports: —

" Can't bottom, ground deep." The Secretary of the Waikaka Forks Dredging Company reports a return of lOoz 17dwt for 100 hours' dredging. The Secretary of. the Junction Electric Dredging Company reports v return of 516z 2dwt from the No. 2 dredge for last week.

The Enterprise No. 1 dredge has been shut down owing to the tlreclgemaster and winchman being in Dunedin as witnesses in a case now before the Supreme Court.

The Secretary of the Enterprise Dredging Company reports a return of lloz lOdwt from the No. 2 dredge for the week ended on Saturday. ,The dredge has been shut down till after tho N Aew Year.

The Secretary of the Matau Dredging Company reports a return of 330 i; last week. The "Secretary of the Clyde Drudging Company reports a return of 250z. The prospects are "good, but the drift is troublesome. The Olrig dredge washed up for a return of lloz last week. - ' THE WEEK'S DREDGING RETURNS. During the week ended December 15 returns were icpor ea irom c o ov.in 0 < Q £ Earnscleugh No. 2, Alexandra (128 hours) 103 17 G Molyneux Hydraulic, Alexandrr G9 0 0 Alexandra Eureka Alexandra .. 61 0 0 Golden Gate, Miller's Flat (6 days) 5G 0 0 Junction Electric, Cromwell .. 51 2 0 Hartley and Riley, Cromwell (13G hours) 49 6 0 Gold Queen, Dumbarton Rock (122 hours) 47 12 0 Golden Treasure, Miller's Flat.. 44 3 0 Matau. Clyde 33 0 0 Central Electric, Cromwell (110 hours) 30 17 18 Golden Beach, Alexandra (GGJ hours) 29 4 2 Ricbards's Beach, Cromwell .. 23 17 0 Clyde, Alexandra 25 0 0 Cliarlton Creek, near Gore {ih days) - 24 0 0 Nevis. Nevis River (117 hours) .. 23 0 0 Success, "Waipovi (3 days) .. 22 7 15 Central Mataura, Mataura (110 hours) 21 0 0 Waimumu Queen, near Gore (128 hours) 19 8 18 Wniimunu Central, near Gore (122 hours) 19 C 0 Morning Star, Manuhcrikia (125 hours) 18 0 0 Ngapara No. 3, Nevis Rivel (IGO hours) 17 0 0 Central Charlton, near Gore (8 days) 17 0 0 Magnetic. Cromwell (2.1, days) .. 14 0 0 OtBKO, Miller's Flat 13 0 0 Waimumu Extended, near Gore (125 hours) 12 17 0 Paul's Beach, Beaumont .. .. 12 11 0 Vincent, Clyde .. 12 10 0 Chicago. Alexandra (124 hours) .. 12 0 0 Enterprise No. 2, Alexandra .. 11 10 0 Olrig, Mamiherikia 11 0 0 Waikaka Forks, Waikaka (100 hours) 10 17 0 Unity, Clyde 9 0 0 Inch Valley, near Palmerston (146 hours) 8 12 0 Waimumu, near Gore .... 7 5 0 Total 944 17 11 The West Coast. Grey River, Grey (125 hours) .. IGI 0 0 Reeves Proprietary, Reefton .. 21 0 0 Waipuna, Upper Grey .. .. 18 11 0 Leviathan, '"near Greymouth (amalgam) 51 0 0 DUNEDIN STOCK ECHANGE. Sales were recorded on Saturday at the following premiums:—Aiding?., 2s 6d ; Caledonia, 5s 3d; Long Valley, 9s Gd and 9s 9d; No Town Creek, ss; Saltwater Creek, 2s and Is Gd. Sales also took place at the following prices:—DobEon No. 2, 28s, 28s Gd, and 295; Ford's Creek, I 27s 6d and 27s 9d; Gold Queen, 32s 6d, 335, 32s Gd, 325, and 31s Grl; Greenstone Creek, 26s and 275; Grey River, £3 18s Cd ; Junction Electric, 27s Gd; Leviathan, £2; Magnetic, 25s Gd; Me' and Annie, ,-£3 10s; Miller's Flat, 2G.3 Gd and 2Gs; Richards'« Beach, 23s Gd, 235, 22s Gd, and 22s 3d ; Second Magnetic, 29s Gd ; Sixteenmile Boach, 17s; Waipuna, 21s. In addition to the above, sales were effected at the following rates of discount: —Ahaura River, 3d ; Gold King, 2s Gd; Waiora, 3d. The following arc Saturday's quotations, subject to the usual brokerage: — Ahaura River—Sellers par. Alpine No. 2—Sellers £2 Is. Arrow Junction—Buyers £1 Ss 3d, sellers £1 14s. Arthur Point—Buyers Gs dis. Cairnmuir—Sellers £1 12s Gd. Caledonia—Buyers 5s 4d, sellers 5s Gd p. Central Charlton—Buyers 10.?, sellers 17s Gd. Charlton Creek—Sellers £2. Dobsoil No. 2—Buyers £1 9s Gd, sellers £1 9s 9d. Electric—Buyers £2 ss, sellers £2 10s. Electric Extended—Buyers £1 Is, sellers £2 4s. Erickson's Reward—Buyers 2s Od p. Ford's Creek—Buyers £1 7s, sellers £1 7s 6d. Fourteen-mile Beach—Buyers £1 9s. Galvanic—Buyers £1 30s, sellers ,fl 12s <H. Gold Queen—Buyers ,-Cl Us, sellers £1 12s. Golder: Beßch—Buyers £1 2s. Golden Bed—Buyers £1 5s Gd, sellers .-El 7s. Golden River—Sellers 2s p. Grand Junction—Buyers 7s Gd, sellers 8s p. Greenstone—Buyers par. Greenstone Creek—Buyers £1 7s. Grey River—Buyers £3 ISs 3d, sellers £3 ISs Gd.

Grey River Consolidated—Sellers 3s p. Halfway House—Buyers £1 18s 9cl, sellers .£2 Is.

Hartley and Riley—Buyers £G 18s 6d, sellers £6 1?3. Hokitika Extended—Sellers Gd p. Hokitika River—Buyers lls, sellers 12s p. Island Creek—Sellers 7s 6:1 p. Junction Electric—Buyers £1 7s Gd, sellers £1 Bs.

Kia-Orn—Buyers 10s, sellers 18s. Kawarau Bridge—Buyers 2s 3d, sellers 3s 3d p. Kelly and Casey—Buyers £1 8s 3d, sellers £1 10s 3d. Kohinoor—Buyers Is 9d p. Leaning Rock—Sellers 5s dis. Leviathan—Buyers £1 19a Gd, sellers £2. Long Valley—Buyers 9s 3d, sellers 9s Od p. Lower Enfold—Sellers Is dis Magnetic—Buyers £1 2s, sellers £1 Gs. Majestic—Sellers £1 ss. Ma-nuherikia—Sellers £3 10s. Ma-tau—Sellers £3 15s. Meg nud Annie—Sellers £3 103 Gd. Merrimac—Buyers £1 14s, sellers £1 15s. Mokoia—Buyers £1 Gs 3d, sellers £1 Gs 9d. Molyneux Hydraulic Company's Dredge— Sellers £1 Gs. Moonlight—Sellers Is p. Morven Firry—Sellers par. Niiiim:ii—Buyers 18s 6d, sellers £1. Nelson Creek—Buyers -£2 7s, sellers £2 10s. Nevis—Sellers £1 ss. New River-r-Buyers 9d, sellers 4s p. No Town Creek—Buyers ss, sellers 5s 3d p. North.Beach—Buyers 3s 6d, sellers 4s 3d p. Nugget—Sellers 4s 9d. Paetolns—Buyers £1 p. Pactolns JN'o. 2—Buyers Is, sellers 2s p. Perry's Rewi>.rd—Buyers If Gd dis. Premier Waikaka—Buyers lGs Gd, sellers 17s 9d.

Reeves Proprietary—Buyers £1 7s, sellers £1 10s.

Richards's Beach—Buyers £1 Is 9d, sellers £1 2s 6tl. River Molyneux—Sellers 5s p. Ross Day Dawn—Buyers Is dis, sellers par. Roxburgh Jubilee—Buyers 2s 9d, sellers 3a 3d p.

Royal Maori—Buyers Is p. Sailor's Bend—Buyers £1 17s, sellers £2 Is. Saltwater Creek—Buyers Is Gd, sellers 2s Gd p-

Second Magnetic—Buyers £1 9s, sellers £1 10s.

Sixteen-mile Beach—Sellers 17s 9d. Switzers Buyers 15s sellers 7s dis. Teremakau—Sellers lid p. j/hree-mile Greenstone—Buyers £1 13. Trafalgar—Buyers Gs 3d, sellers 9s Gd p. Upper Magnetic—Buyers £1 14s. Upper Waipori—Buyers 15s 6d-

Victory—Buyers 4s, sellers Gs p. Vincent—Sellers £2 Is. Wa-iora—Buyers 3d dis, sellers 3d p. Waipuna—Buyers £1 Is, sellers £1 Is Cd, Warcatea—Buyers Is, sellers 3s p. White Star-Sellers £1. ■ ■ ■ Woolshed—Sellers £1 7s.

OTAGO STOCK EXCHANGE,

Caledonia shares were sold at 5s Gd premium on Saturday. -Sales were also made at the following prices: —Electric, £2 Gs Gd, £2 6s Otl, £2 7s, and £2 7s Gd; -Electric Extended, £2 2s 9d; Gold Queen, 345, 335, and 345; Mokoia, 255; Reeves Proprietary, 27s 6d; Richards's Beach, 22s 9d; Upper Magnetic, 33s Gd.

The following are Saturday's quotations: — Ahaura Rvver —Buyers par, sellers 4d p. Aldinga—Buyers Is Gd p. Alexandra Eureka—Sellers £2 7s Gd. Alpine Consols—Buyers £1 19s, sellers £2 Is Gel.

Alpine No. 2—Buyers £1 17s, sellers £1 19s Od.

Arrow Junction—Buyers £1 Gs, sellers £1 Bs. Bendigo—Buyers 4s, sellers 5s 9d p. Boundary Creek—Buyers £1 Is Gd, sellers £1 4s.

Cairnmuir—Buyers £1 10s, sellers £1 13s. Caledonia—Buyers 4s Gd, sellers 6s Gd p. Central Electric—Buyers £3 9s, sellers £3 12s.

Chariton Creek—Sellers £2. Cromwell—Buyers £3 17s, sellers £4 ss. Digger's Pride—Sellers par. Dobson No.-2—Buyers £1 7s Cd, sellers £1 9s Gd.

Dunstan Pioneer—Sellers- par. Electric—Buyers- £2 7s 3d, sellers £2 9s. Electric Extended—Buyers £2 2s Gd, sellers no 3 3 f "Erickson's Reward-Buyers 2s Gd, sellers 4s p. Evan's Flat—Sellers 19s. Extended Fourteemnile Beach—Buyers Is, sellers 2e Sd p. Ford's Creek—Buyers £1 Gs 9d, sellers £1 8s Fourteen-mile Beach—Buyers £1 9s, sellers £1 12s. Galvanic—Buyers £1 lls 3d, sellers £1 12s. Gentle Annie—Buyers £2 2s Gd, sellers £2 3s 6d. Gibbston—Sellers Is p. Gold King—Buyers Is 9d dis, sellers Is p. Gold Queen— Buyers £1 13s, sellers £1 14s 3d. Golden Banner—Buyers 4s dis. Golden Beach—Buyers £1 Is, sellers £1 7s. Golden Bed—Buyers £1 5s 3d, sellers £1 7s. Golden Falls—Sellers £1 ss. Golden Gate—Buyers £6 Bs. Golden Run—Buyers £1 19s, sellers £2 2s. Grand Junction—Buyers 7s Gd, sellers 8s p. Grout Woodstock—Sellers 3d p. Greenstone Creek—Buyers £1 ss. Grey River Consolidated—Buyers 2s 6d, sellers 3s 9cl p. Halfway House—Buyers £1 19s. sellers £2 Is. Hartley and Riley—Buyers £G 18s, sellers £G 19s. Hokitika Extended—Sellers Gd p. Hokitika River—Buyers 10s Od, sellers lls 6d Injunction Electric—Buyers £1 Gs 3d, sellers £1 10s. Kawarau Bridge—Sellers 3s p. Kelly and Casey—Buyers £1 9s 6d, sellers £1 10s" Gd. Leviathan—Buyers £1 ISs. Majestic—Buyers £1 4s, sellers £1 5s 6d. Matau—Sellers £3 12s. Me" and Annie—Buyers £3 10s, sellers £3 12s Otl. Merrimac—Buyers £1 15s, sellers £1 ]8s Gd. Miller's Flat Electric—Buyers £1 5s Gd, sellers £1 Ss 9d. Moil Flat—Buyers ISs. sellers £1 Is. Mokoia—Buyers £1 4s 6d, sellers £1 5s Gd. Kelson Creek—Buyers £2 7s. New Alexandra—Sellers 10s. Now River—Buyers Is Gel. sellers 5s p. No Town Creek—Buyers 3s Gd p. No Town No. 2—Buyers Is dis, sellers Gd p. North Beach—Buyers 3s Gd p. Nugget—Buyers 2s Gd, sellers ss. Orwell Crook—Buyers Is, sellers 3s p. Otama—Sellers par. Pactolus No. 2—Buyers par, sellers Is p. Perseverance—Sellers £4 19s. Ponsonby—Buyers par, sellers 3s p.

Pritfe of Tuapeka—Buyers 4s, srllers 2s dis. Roeves Proprietary—Buyers .£1 ss, sellers £1 10s. ' Tievna-rkables—Buyers ss, sellers 2s dis. Richards's Beach—Buyers -SI 2s 6d, sellers £1 Ss Otl. Ross Day Dawn—Buyers 2s dis, sellers par. Royal Maori—Sellers 2s 3d p. Sailor's Bond-Buyers £1 17s, sellers £2. Saltwater Crock—Buyers 2s dis. Second. Magnetic—Buyers .£1 Ss, sellers £1 9s Gel.

Stilhvater Creek—Sellers par. Tpremaknu—Sellers 3d p. Threc-mi!o Greenstone—Silvers £1 Is. Tiianelca—Buyers £1 ss. sellers £1 Bs. Tucker's "Kint-Buvrts 2s dip. Unper Magnetic—Buyers £1 13s 9cl, sellers £1 11s 3d. Victory—Buyers 3s p. Wniimmn'—Sellers £1 5s

Waipuna—Buyers ,-Sl Is, =e'.lers £1 us "Wrt Lead—Sellers is Gel clis.

THE EQUITABLE STOCK EXCHANGE report as follows: — Sales.—Ahaura- River, par; Bendigo. 5s p; Caledonia, 4s 9d p; Grey River, 755; Loaning Rock 3s Gd dis; Reeves Proprietary, 255; Six-teen-mile Beach. 17s Gd, 17s Od. Buvcrs—M Is dis; Alexandra Bonanza, Is Gd p'; Alpine Consols, 39s Gd; Alpine No. 2, 38s; Arrow Junction, 265; Arthur's Point, <.s Gd dis- Bannockmim Creek. 12s; Cairnmuir, 335; Caledonia, 4s Gd p; Crown Diamonds, vnr- Elochic 43s Gd: F.rickson's Reward, Is Gtl p: Ford's Creek, 2Gs !kl; Gentle Annie 42s Gd; Gold Queen, 28s; Golden Bed, 235; Golden River Is 3d c; Grey River, 71s Gd; Hartley and Riley, 1355; Island Creek, par; Leaning Rock, 3s"Gd dis; Lour Valley, 65 p; Meg and Annie, 70s; Miller's Flat. 21s; Mokoia, 23s Gtl; Reeves Pronrictnry, 235; Richards's Beach, 22s Gd; River Molyno'nx, 3s p; Roxburgh Jubilee, Os Otl p ■ Upper Magnetic, S2s Gd; Victory. 3s p Waimumu Extended, 13s Gd; White Stai,

Sellers — Ahaura River, 3d p; Alpine Consols, «.«; Alpine No. 2, -Us; Arrow Junction "3s- Uannockburn Creek, 16s; Bendigo, Gs Gd p; 'Bienalls, par; Boundary Creek, 23s Scl; Britannia, par; Broad Creek, Otl dis; Ca-irn-nuiir 35s- Caledonia. 5s Gd p: Central Charltor 19s; Charlton Creek, 40s Ccl; Clyde, 77s Gel; Davis Bend, 6s p: Duke of Wellington, par- Eldorado, par; Electric 44s Gd; Erickson's Reward, 3s p: Ford's Creek. 2Ss; Garibaldi, Is Gd dis: Garvey Burn, par; Gentle Annie Ms Gd ; Gibb's Beach, 17s; Gold Queen, 39s Grl; Golflnn Banner, par; Golden Bed, "7s- Golden Falls. 255: Golden Gravel, Is p; Golden Mile, par; Golden Reword, ]s p; Golden Ripple, Gd din; Gold™ River, 2s p; Goldon Run, 435; Golden Standard, par; Groat Woodstock, Is p; Greenstone, 2s n; Grey River. 80s; Hartley and Riley. 1395; Horowai. par: Junction Electric, 30s: Kawnrnu Bridge 3s Gd p: Kawarau Consolidated, nor; Kelly and Ca--cy 30= Gd; Kio-On, iwi : Lady Charlton, G-l p;'Leaning Rock. 0s dis: Leviathan, 41s; Long Valley. 10s p; Lower EnficUl. par_; Magnetic 29s Gd; Ilcq mvl Annie, 755; Metallic, 30« 6d; Miller's Flat, 275: Moke Creek, 3s dis; Mokoia. 23s 9d; Monio Christo, 355; No Town No. 2, Gd n; Oceanic, Is p; Prince Albert, par; Reeves Proprietary, 30s; Bicliards's Boach, 24«- River Molyni-ux. Gs p: Roxburgh Jubilee, 3s p- Ruby par- Soilnv's Bend, 41s: Saltwater Creek 3s V>'- Second Magnetic. 30s Gd: Shnphord's Creek, 2s Grl p; Sixteen-mile Beach, 18s; Tc-cmn'.<au, par; Teviot, par; Upper Maenot-sc, 3-ls- Victory, 4s fid p: Vincent, 42s Gd; Vincent Extended, 455; Wa.innmiu Central, 2Ss: Waiimimu Extnr.clod, 10s: Waiova, 3d p; Waiterson's Consols, Is p; Willoughby Cardrona, par.

GOLD DEPOSIT GOLD DREDGING COMPANY. The directors of the Gold Deposit Gold Dredging Company will submit the following at the annual meeting:"On assuming office your' directors appointed Mr F. W. Payne as cu-nr-ecr to tho company, and instructed him to'preparc plans and specifications for a suitable dredge. Contracts were let for pontoons to Messrs M-Kecbnie and Fleming; ior machinery to the Clyde Engineering Company, Sydney'; the engine, boiler, and centrifugal pump have also been ordered. Directors are advised that the machinery is now almost completed, and will shortly be shipped from Sydney. It is anticipated that the pontoons will be ready to receive it 011 arrival, when erection will be gonf on with. In addition to labilities shown on the balance sheet, funds will have to be provided ifor transport charges, duty, erection and housing of machinery, simply of wire ropes, boats, tools, and stores, which, as far as can be foreseen, will mean that a sum of about £750 will be required boyond available capital. Shareholders will be asked to elect two directors in place of Messrs Coughlan and Duff, who retire.

NOTES FROM ALEXANDRA. (From Our Own Cork^si'ONdent.l

ALEXANDRA. December 35. A most satisfactory trial of the machinery of the Vincent Extended dredge, under the supervision of Mr Peck, representative of Mr F. W. Payne, was held last night. The dredge is in excellent trim. The Miinuherikiii dredge hud an accident to the enaine, and had no wash up. The 'Molyneux is slightly more than 6ft above normal.

THE WEST COAST.

(From Oun Own Cotshespokdf.nt.! G REYMOUTH, December IG. The return from the Grey River dredge is IGloz for 125 hours. The return from the Waipuna dredge for the we* is ISoz 19<?.wt. , The Leviathan dredge obtained 540z amalgam for the week. The dredge was engaged fo. o considerable portion of the week 111 cutting through a pile of old tailings. . The return from (lie Reeves Proprietary dredge for the week is 21oz gold. My telegram on Saturday with reference to the Lwiathnn referred to the Leviathan Extended claim, and should have read that a party is some out to-morrow, including Mr Piper reprcaentmfc Messrs Cutten Bros, m Sydney."

DREDGE HANDS AND THEIR SHARES. TO THE EDITOR.

Sir,—l note in your issue of December 3 your mining correspondent states that Mr J. yon Haast,°tho dredgemaster of the Rolling

Stone, is the holder of a large interest in that dredge. Surely this cannot be the Mr yon Haast who so loudly protested in your columns some months ago against dredge hands holding shares in the dredge on which they were working, and that he in particular never did such a. thing. Perhaps there is some mistake? Many like myself would be curious to know.— 1 am, etc., Cuhious.

WAEEATEA AND FAIRDOWN CLAIMS,

TO THE EDITOR Sir, —" Prudence " this morning re-opens the question of the validity of the reports in the Wareatea and Fairdown claims. As the one chiefly responsible for the introduction of these claims to this market, I may say there is no one rumour correct (and I am conversant with them all) of a different character to those circulated about many other claims. Who is there amongst dredging men who has not been assured that the Charlton Crock was to be a failure, owing to the clay, etc., that would prevent successful working? The Leviathan also has been most bitterly assailed from its very inception, owing to its being a " b'.ack sand " claim. In your own columns a letter is em-, balmed from one who lived in close proximity to the claim, gravely assuring us the Cromwell was bound to be a failure. As for the Kawarau claims, many made bold to assert that the ground could not be worked, and that it was madness attempting to put dredges on that part of the river.

What has been the history of the Wareatcn and Fairdown properties? The vendors (who are also subscribing shareholders), and whose vendors' shares cannot be dealt with till the dredge has commenced work in the one case and for twe years in the other, having satisfied themselves that the ground was of a high-class grade, approached Messrs SHgo Bros with a view of flotation. This firm, whilst expressing themselves as favourably impressed with the Teports, absolutely declined to "o on unless the vendors allowed them to send a man of their own choosing to prospect the claims and report to them. Consent was, of course, readily given, and Messrs SHgo Bros. chose Mr Popplewoll. No one will question this gentleman's ability to decide if gold exists in a claim and as to its dredgeability. Well, his report was distinctly favourable, and flotation ensued.

Any shareholder of these claims can, by applying to the directors, get most satisfactory information as to the assured prospects of these claims. I have it from one of the best-known experts in New Zealand that both claims are rattling good shows, and, be it remembered, he has been actually on the ground. Mr Clmrles M'Quecn, of Greymouth, who recently visited theclsims, and was all over them, also speaks highly of them. Mr James G. Aclair, of Greymouth, who sank shafts on the Fairdown for other parties, declares the ground to be highly payable. It may be suggested we are mistaken. Well, all I can say is, if the men who have been on the ground—Messrs Popplewell, Charles M'Queen, and James G. Adair—cannot tell whether a claim is payable, it is little use If nervous shareholders, instead of standing nt the street corners and allowing irresponsible "OBsipa to fill them with the east wind, choose to avail themselves ot the Christmas vacation and go to Westport, Mr Gibbard will be happy to take thorn out to the claim and show them prospects for themselves. He will also, if they choose io deposit £o, put down a bore for them; if satisfied that it is of « payable character their £5 will go to pay for the bore: if of an unsatisfactory character, Mr Gibbard will pay for it. In closing, I may say that Mr J. J. Ramsay has been on the claims, and, whilst receiving nothing for brokerage, recommended them to his friends. Everything needed to protect the public in connection with these properties has been seen to, and it is simply unreasonable to demand more. Shareholders who choose can, as I pay, prospect for themselves at very little expense.—l am, etc., William M. Beadley. Dunedin, December 14.