MINING.

Otago Daily Times, Issue 12391, 28 June 1902, Page 9

MINING.

o- ■ The' secretary of the Molynens Kohinoor Company reports a return of 21oz 9dwt for -it hours' work, making, with Wednesday's vrasliUβ, a total ot C3oz likt Cgr for 129 hours', dredging. ' The secretary of the Roxburgh Amalgamated Mining and Sluicing Company reports a gold return of H2oz ldwfc I2gr for tho month of .Tune. The secretary of the Gold King Dredging Company reports a. return of 270z for IGO hours" work. The dredgemastcr states that'the wash is improving.' Tho dredgemaster of the Charlion Creel: dredge reports washing up on' Thursday, morning for a return of lloz for four days' wore The reason the cleamng'iip tool; place so early, was the stopping of the dredge for the Coronation holiday hefore tho news of the postponement had been received. 11l J. J. Ramsay reports that tho return from the Patason's Freehold dredge last week was 21oz. The dredgemaster had somo trouble with a bank of clay, which accounts ior tho small return. The secretary of tho liicbdale Gold Dred-in" Company reports that owing to the holidays and some of the machinery requiring an overhaul there will be no wash-up this week. Tlio secretary of tho Bendigo Gold Company received a, wire yesterday from- Mαandra, from one of the directors stating that the ladder was got up, but 17ft was broken off, lie is bunging down the sand pumj.

The BKieUty of the Great Woodstock Company (K*nieri) reports a. letnrn of 9oz 12d.wt for. 131 hours' dredging. The dredgomaster of the North Beach dredge (Mr Sidney C, F»che) reported on Jnne 23 that,' as anticipated, the sand on the hill side of the cut -was thinning ont, and more gravel was coming in; likewise jnoio gold. Should he have a full week's dredging he expects to see a slight increase in the return. The machinery was working well, tho only broken timo being due to buried timber and on occasional broken pis. The dredgemaster of tlie Leviathan dredje (Mr D. Sutherland) ieport3 on the 23rd iiist. that he was right on top of the spur running from the hill towards tho beach, and there was very little wash to bo found there, while, with tho vast quantity of mud and clay and no gravel, the tailinge would not stack, but slipped back underneath the dredge right back to the face. • This wis giving him a lot of tionble, as also was tho buried timber. AH the machinery was going well. The dredgemaster of the Kankleburn. Amalgamated Companies' dredge (Sir F. 0. if'Cluro) reported on tho 23rd iast. that last week there was a good steady run of 135 hours. On Friday night tbo dredge had worked quite close up to the reef, which extends out and across the river for a considerable distance, and on Saturday morning he stopped dredging for the purposo of shifting tho dredge down the river sufficiently to cleat the end ot the rcof; and on Monday he Moved her out into the channel on the 'east side of the river, and started dredging again tha,t night, His intention was io give the deep channel on the east side a, trial, but if it was poor he stated that he would pull the dredgo •up-stream to a place above the reef, where he hoped to obtain better returns. He did not anticipated much for this week's return, as a lot of time was lost owing to the shifting ol the dredge. If the prospects do not look sufficiently encouraging where she was working on Monday, he intended to haul into what lie considered to bo better "ground tho next morning. Everything about the dredgo was working wel!. There- arc now five niei l engaged in woodcutting, sa there is little fear of dredging operations being stopped for want of wood. Tho extraordinary general meeting of the , Union Jack Gold Dredging Company called for last night to consider the question of liquidation lapsed for want of a quorum. The dredgemastcr of the Upper Magnetic dredge reports that he had a steady run all last week. He pulled a dredgo length ahead, to a place where the reef showed every indication of being soft. Ho will be occupied in opening out a cut this week, but hopes to bo able to report a- return next week. The depth of the ground was 35ft.

During the first two.days of last week the dredge-muster of tlie Three-mile (Greenstone. Creek) dredgo worked into ilie creek bed and part of the north, bank. The ground was still very rough, and the screen was so badly knocked about that it was found necessary to stop and repair it. The rough ground in the creek was fairly good, and,tho mats looked well when work was suspended, while the other side of the face nlso looked a little .better. It seemed to be changing, and also getting a little deeper. The creek was very Jiigh on Thursday morning, but fell during the day, only to rise again on Friday.. A fair amount of tailings came down, but the dredgemaster stated that it would not take long to clean them out, as there was plenty of room in the paddock.

The dredgemaster of tho Garibaldi dredgo reported on June 22 that he had just entered rte river, and was experiencing trouble with iho • floods, as the dredgo had scarcely got straight with the current. He had a faco opened out twice, but the water came down and partly filled the paddock on each occasion. He .was taking precautions against working too shallow, as he was afraid the dredge would bo silted up. He washed up B}oz on the, previous Saturday from the box under the screen only, and left the remainder, as he was anxious to resume dredging on account of the drift gaining on him, but ho intended to wash all tho tables in a. fortnight's time. A day was occupied in effecting repairs, owing to the maiin friction collar having been worn out. Tbe gold had not travelled far, and was very like Ciutha gold. He was very well satisfied with tho. sample, and said he was sure that if ho got any wash at all the properly would be valuable. Up to the time of writing l\o had not struck anything that could strictly be called wash, but if he did he expected it to be very rich, us there was very litt-lo top stuff to be shitted.

THE WEEK'S DREDGING RETURNS. The following returns have been so far reported for the present Tvc-ek:— Oz. dwt. gr. Molyneux Kohinoor, above Roxburgh, 129hre ■ .. .. ~ .. C 3 12 G Enterprise No. 2, Alexandra, 131hrs 49 4 5 Teviot, Roxburgh, 132hrs .. .. 42 2 9 ■ffaimumu, near Mataura, lHhrs- 37 11 0 Endeavour, Roxburgh, 4 days .. 37 7 o Cold King, Koxburgh, 160hrs .. 27 0 0 Enterprise No. 1, Alexandra, 130hrs 25 10 13 Davis'* Bend, above Clyde .. .. 21 17 0 Waimumu Extended, m Mataura, 95hrs 2-13 0 f>ntral Charlton, nr Gore, ISthrs 2C 17 0 ttrick, Miller's Plat, 83hrs .. SO 3 0 Hartley and Riley, Cromwell .. 17 0 0 Point d'Or. Upper Ciutha, 130hrs 14 0 0 Charlton Creek, nr Gore, 4 days U 0 0 Tμ West Coast, Reeves's Proprietary, 107hrs .. 23 1G 0 Great "Woodstock, 131hrs ... ?12 0 DUNEDIN STOCK EXCHANGE. The sharo market was unusually dull yesterday morning, only two sales being effected. There was, however, a. considerable improvement in the afternoon, when good business was done. The most prominent stock was Alexandra Lead, shares in which were in good demand, and five parcels were taken up very quickly. Bendigoes were also in -fair demand, though the market was a falling.one, and the prices realised for them were a good deal lower than on the previous day. There was no material alteration in the remainder of the quotations. Tho river had fallen to 3(t Bin by yesterday morning, and the weather was Jiiie once more. 'Alexandra Leads showed a further improvement, tho demand for them being pretty keen. Two sales took place at 63 3d, and three more at 7s, additional buyers being in the market at'the'latter price, with sellers at 7s I'd. The preference shares were also inquired "for, but 110 sellers responded. Bendigoes were steady in the morning, but fell back in the afternoon, when sales wero effected at 8s Gd, 85, and 7s Gd, the closing quotations being 7a and 8s Cd, Central Charltons were stead\-, but sellers of Electrics came down to 323 Gd in vain, as no buyer responded. First Chances hardened a little, and Gold Kings wero practically unaltered. Golden Rivers eased, a parcel changing hands at 4s Gd, while a further selling offer of 4s 10?, d elicited no reply. Junction Electrics firmed ecmewhat, and sales took place at 15s Gd and 15s 3d, after which buyers oHei-od 15s, but holders would not accept le?3 than 15s 6d. Manuherikias changed hands at 335, and more k-harcs were in the market at 345, but tho best response was 31s G3. Meg and Annies eased a little, but Molyneux Kohinoors had a hardening tendency. Two sales of the lnttor were effected at 3s <lis, at which price there were more .sellers, with buyen at 3a dis. A parcel of Monte Christocs was taken up at 20s, and more inquiries were made at 10s, but sellers closed at 2!)s Gd. North Beaches and No Town Creeks wero firm, but Olrigs were easier. Rise and Sliine3 moved up a little, but River Molyjicuxs fell back a- good deal, a sale being made at Is, while the closing quotations were Cd and Iβ. One lot of Roxburgh Jubilees was taken up at Is Cd dis, but a further inquiry at 2s dis was not responded to. Unitys advanced a little, but Upper Magnetics were easier, while Yiriorys were steady.

. Sales were made "yesterday at the ■following prices:— Alexandra Le.od, Gs*9d and 7s; Bendigo, 8s Gd, Bs, and 7s Gd; Golden River, 4s Gd; Junction Electric, 353 Cd and 15s 3d; Manulierikio, 335; Molyneux Kohinoor, 3s dis; Monte Christo, 20s; River Molyneux, Is; Now Roxburgh Jubilee, Is Gd dis. The following ore yesterday's latest quotations, subject to the usual brokerage: — Alexandra Lead—Buyers 7s, sellers 7s lJd.. ■Akxandra Lead (pref.)—Buyers £1 2s. Alpine No. 2—Sellers 19s. Eendigo—Buyer3 7s, sellers Bs. . Charlton Creek—Buyers 9s. Cromwell—Buyers £1 17s firl, sellers £2 Ua. ' Electric-Sellers £1 12s 6d. Enficld— Sellers £1 Fourteen-mile Beach—Buyers 8s 6d. Gold King—Sellers 4s. Golden Bed—Sellers 13s. • Golden Gate—Buyers £4 ss. Golden River-Seller? ds IOJd. Great Woodstock—Buyers Is, sellers 4s. Greenstone Junction—Buyers £1 Is, sellers £1 3s. Hartley and Riley—Buyers £2 7s 6d, sellers £2 12s 6d. Hokitika River—Buyers Bs, sellers 10s. Junction Electric—Buyers 15s, sellers 15s Cd. Lady Roxburgh—Sellers 4s dis. Lafranchi's Freehold—Buyers 7s Gd, Belters 12s. Leviathan (pref.)—Sellers Gs 3d. Leviathan (ordinary)— Buyers Is 3d, sellers Long Valley—Sellers Bs. Main- Lead Hercules—Seller.? 7s Gd. llanuhnikia—Buyers £1 11s Gd, sellers £1 Us. Meg and Annie—Buyers 15s, sellers 15s 9(1. Mokoia-Sellers 12s Gd. Molyneux Hydraulic—Buyers 3s Gd, sellers 4s 3d. Molyneux Kohinoor—Buyer3 3s 3d, sellers 3s dis. ' Monte Christo—Buyers 19s, sellen £1 Os Gd. ■ Nelson.Creek-Buy"er3 £3 4s. North Beach-Sellers 13s. No Town Creek-Buyers £1 15s, sellers £1 iGs ca. Olrig—Sellers £1 3s Gd. Pactolus—Buyers £3, sellers £3 ss.

Rise and Shine—Buyers £1 Is 3d, sellers.£l 3s.

River Molynenx—Buyers Cd, sellers Is. Roxburgh Jubilee—Buyers 2s dis. Roxburgh Jubilee (paid)— Buyers 15s. Royal Maori-Sellers 3s CO. Teriot—Sellers 4s Cd. Unity—Buyers 17s 3d, sellers 18s'3d. Upper Kagnetic—Buyers 3s, sellers 5a 3d Victory—Sellers £1. Vincent Extended-Sellers ss. Wairaumu Central-Buyers Gs Cd, sellers 7s Gd. Smticinc. Roxburgh Amalgamated (contrihuting)Buyers .Is Cd, sellers 4s. Prince art-hue gold dredging COMPANY. The directors of the Princo Arthur Gold Dredging Company will submit tho following Toport to shareholders at the annual general meeting:— " Your directors beg to submit herewith the balance sheet for the period ending 31et May, 1902, and are pleased to bo enabled to stato that the dredge started work on tho 9th of this month The machinery is running verv smoothly, and with the exception of a slight list on the dredgo, which caused thn master two or throe days' delay putting in ballast after he. had started dredging, the contractors Messrs ,1. M'Grcgor and Co., have furnished you with a really: first-class machine, lour directors regret that, owing to the lave number of shares that had to be forfeited there will bo a deficiency of some £300 to XGoObut having every confidence in tho claim 11-c? hope it will not be Mcossary to borrow any money. Mr J. 11. Bclhune retired from your board owing to pressure of business, anil vmi ■will be nsked 1o elect another director in'his place. Mr W. J. Giithrie also retires by ballot, but being eligible oirers himself for re-election Mr George Blylh, the auditor, also retires and is eligible for re-election."

The profit and loss account covers a. period of 14 months for the Moke Creek Company and six month'! for the Prince Ariliur Company, the former having a debit balance of i'slG 18s 4d on March 31, 1000, and tho latter a debit balance of £590 2s 3d on November 23, 1901. The expenditure since the above-mentioned dates amounted to £',03 -is 2<l, malrin" a total of £1500 Js 9d, against which £327 10s was received from 5530 forfeited shares, Ifavin- a debit balance of £1172 14s 9d to be carried "forward. The nominal capital is £16,000, but 1000 vendors' shares havo been written off, while 5530 have been forfeited. When tho books wire closed the arrears amounted to £795 10s, but portion of this sum has since been recovered, while £25 has been paid in advance for calls. There are liabilities to the extent of £22G0 0s 9d, against which the cash in the hsnk and in hand amounts to .1*250 'Js,

'NOTES PROM CROMWELL. (From Our Own Cobrespondent.) CROMWELL, June 27. The weather is fine, with frosty nights, and the river has fallen considerably. I believe the Hartley and Ri'ley dredgo cannot bottom right across the river, but may do so in a few days, as the river is likely to fall fast. Tho Central Bltctric dredge is on her way down to her own claim between tho Hartley and Kilcy and Junction Electric. She should be on the claim to-morrow. The Eilcy's Beach dredge is not working full time, as she is doing some repairing. Tho Alpine 2 dredgo started operations to lengthen the ladder. Tho Point d'Or dredge, I believo, is on fair gold. The Rise and Shine return is likely to be much better. I believe sho is on splendid wash. NOTES VROM CLYDE. (Feou Odr Own Correspokdsxt.) CLYDE, June 27. The Leaning Itock and Boundary Creek dredges have shut down, as they [ailed to botlom at the present level of the river. Tho river i., slightly higher to-day. Vμ weather is clear, and continuous frosts are probable. THE WEST COAST. (From Our Own Correspondent.) GHEYiiOUTH, June 27. The returns to-morrow shonld show a general all-round increase. The Garibaldi dredge should have her first wash-up to-morrow. ■ The dredgo is now out into tho creek, and a fair estimate of the worth of the wash should be got within the nc»-t fortnight. The Victory dredge is idle owing to tho breaking of tho clutch of the friction pan. The dredge was working in a nico sample of wash 27ft deep. It is expected the dredge will get another start in four days. Tho erection of tho AMinga Company's machinery is proceeding apace, and it is reckoned that the dredge will have a turn out of it this week.

The .Trafalgar dredge is working satisfactorily in 17ft of wash. So far tho prospects obtained have been somewhat disappointing, but in the course of three weeks or so the dredge will be in good ground. The Commissioner's Plat dredge is ncariup completion, and is expected to be in full swing ill 10 days.

Tho Mosquito No. 2 Company are making arrangements for tho construction of a dredge. It is understood that ft contract has been let for the timber and carting of the Wostland machinery. (?EB United Press Association-.) HOKITIKA, June 27. The Woodstock dredgo has suspended operations. Financial pressuro is alleged to be the cause. The Hokitika River dredge is working well. A good return is confidently expected. RE SILTED DREDCES. . TO THE EDITOR. Sin,—The last three months have been most unfortunate to some of tho Molyneux dredges on account cf having their ladders silted up. With a river comparatively low and in good dredging condition, dredges have got into these disastrous and ruinous straits, thus loshi" ali the best of tho season for work. Surely there is some common-sense way ot preventing such disasters. Investors get very little news regarding such accidents, except the cost of getting the dredge clear again. No inquiry is ever held to find the cause—whether it is negligence or otherwise 011 the part of the dredgemaster. I think, in fairness to both dredgemaskr and investors, a most searching inquiry should bo held in all such cases.—] am, etc., . Investor. June, 27.

JUNCTION ELECTBIC No. 1 DREDGE, TO THE EDITOK. Sir,—l see in your issue of the 24th your Own Correspondent says that the above-named dredge has silted the pontoons up, and the task of raising her is hopeless. Now, Sir, I fail to sec where it comer, in. In the first place the dredge cost some £12,000. Surely the directors will make another attempt to get the drtdge up, for although the pontcous are wholly covered she can In raised All that is required is to know what to do mid how to do it. I for ono would like to ecc Jlr J. P, Kitto take her in hand, if it is possible to get him, before giving it up. That gentleman floated the Maori and Alpine dredges— two of (lie meet difficult jobs ever done here. Those jobs were also given up as being impossible by other experts, but Mr Kitto raised tlicni both successfully. .1 feei siue, could he bs induced to take tlic Junction Electric in hand, he would raise her, for I have never known him to fail with anything ho takes in hand. The dredge is r-rn"v a splendid one, and it would'bo a great pity to see her lying submersed, as it woiild' bt a great loss to the shareholders, Ido not writs this with any intention of casting reflection on the present management, for I have no doubt they are doing their best, but different men have different ways.—l am, etc., Shahholder. Cromwell, June 25. A Wellington telegram stales tljat the washup of the 'i'akakii Sluicing Company was 3Goz Bdv:t gold for nine days. Tenders close on Holiday for the purchase of the Manuka dredge and claim. . . for t!ie"purchnse of the Ruby Creek hold Dredging Company's dredge close on July