MINING.

Otago Daily Times, Issue 12403, 12 July 1902, Page 9

MINING.

The return from the New .Vinctnt dredge is 6207, for tho week, and tlio new dredgemaster (Mr W." Kane) reports' that tho prospects are excellent. • The secretary of tlio Royal Maori Gold Di edging Companynptits that the total return for tbe wooit is Moz, including the 220z for 83 hours'dredging previously reported. Mr Gibson, Lawrence, reports that the Success dredge obtained lfioz Sdwt 6g'r for five days' work. Tlio dredgenuster reports that ho is wiling on tho south side of the face, which is poor. • Tho secretary of the Enterprise Company reports the following returns:—No. 1 dredge, lfioz liidv/t 18gr for 128 hours' dredging; I\o. 2- dredge,, 350z 17dwt for 80 liours' dredging. Tho No. 2'dredge, which hits been stopped, Resumed, work on Thursday night. Tho seoretary of the Now Alpine Consols* Company reports a return of 4307. 16ihvt 12gr for &! hours' work. The'dredgemaster reports that tho prospects are still good. The repafrs to the piston of the winch engine were nearly finished when tho telegram was despatched, and it was .expected ihp.t work would be resumed at 8 o'clock Inst night. The secretaiy of the Wuimuinu Gold Dredging Company reports a return of sUoz ,'kiwt for 117 hours' dredging/ The leturns have of late been very encouraging, and shareholders will be gratified that the company is now entirely free from debt. Present indications point in the direction of the company reselling the dividend-paying list very shortly. The dredgemistur of the Rise and Shine dredgo wires that he resumed work yesterday, and a 135 that ho is widening '.he cut. Tho dredgemaster of the Golden (Men dredge wired yesterday that ho started dredging on Thursday at noon,, but had not readied bottom. The dvedgemnste of the Molyncux lColiinoordredge has' 1 been delayed a. little through the buckets getting off the. tumbler, and consequently the return will not come to hW until to-day. Tho dredgemaster of the North Beach dredge (Mr S. C. Facile) reported on the 6th July that during most of last week the dredge was working ol\ the hill side of the cut. This present week's return will be from the sea. side, as ho intends giving both sides a fair trial. He litis now the two heaclliiic3 out, one for each side, and if h« finds that dredging with one on each B'.de works satisfactorily ho Will continue to do so. The dredge continues to work well, and the present prospects warrant similar returns to those of the past few weeks. The Trafalgar drodgc, like many other noi" machines, 1m:) had numerous small breakdowns this week, in consequence of which tho dredgemaiter has not been able to bottom the ground. A telegram vMs received by the secretary yesterday .morning, stating that the second motion shaft 'had broken, necessitating its despatch to Gteymouth for repairs. There will not, therefore, be any wash up this week Applications for shares in the New Leaning Rock Company are coining iii freely, and.it is anticipated that the leconstructioh will be accomplished . without c.iiy difficulty. Shareholders have evidently a goo<l deal of faith in the claim, as nearly all of them arc applying for more than the quota to' which they are entitled. The material for the extension of tho ladder of the dredgo is well in hand, and will probably leavo for the olaim next week, On arrival there it will be fitted up without delay, and dredging will be resumed as quickly as possible. . The clredgemasW of the Leviathan dredge (Mr D. Sutherland) reported on July 7 that tho ground had improved greatlv in the previous few days towards the cast side of the face, and if it continued to improve and to widen out as it Was' doing ho expected the returns to increase. Tin bottom had also dipped nwav from 15ft below water level to close on 20ft, and altogethei the prospects nhsre mtich brighter. If tho lead widens out muolt more to the cast he will again run into Clough's ground. Unfortunately on Saturday morning, through a pin coming out of a fairlead the ladder dropped down and carried away all tho hanging gear, and it was not raised again until Sunday afternoon. Through having to wait for repairs to tlio hanging gear the dredgemaster decided to stop and overhaul all the buckets, links, and tumblers, and have a,U ready to run them all off tho ladders on Tuesday. The dredgemaster of the Vincent Extended dredge leports that on receipt of instructions to olose down- he shifted tho headline and put the dredge right in behind the Old Dunstan dredge, wljere she will be in still water, should anything ill tho nature of a Rood take place. Mr W. Holloway, of Clyde, has been appointed caretaker in the meantime, until arrangements aio made for a resumption of operations. The return from the New Vincent dredge should encourage shareholders in the Vincent Extended Company to keep then - dredge sit work until- the claim Jms been exhaustively tested, as it is evident the locality is rich in gold. The master of the Grey River Extonded Company's dredgo has reported to the secretaty that h'e has been dredging steadily for the past seven or flight'days, and'that it will take to the end of this week to properly open up. The i dredgo has been-unable to bottom on account of .the (lifficuUy of. getting clear of tho tailings ' caused by opening-up operations. At present

gold is showing on tho tables, and, from the indications, tho dredgamastet. expects to get on to tho Bolid wash in a fow days, Tho dredgemaster of the Garibaldi dredge, in his report for last week, stated that during the preceding fortnight he had worked 250!t ahead, or doublt the distance ho expected. On Saturday last he got over a shallow piece of ground, and intended testing tho claim beyond it, as hard and comenty wash appeared to be matin". A largo tree was dredged up last week, but so far very little trouble has been experienced this week. Tho wash was coming in oa the north-west side. An Auckland telegram states that durintr June the New rour-in-Hand G.M. Company treated 40 tons of ore for gold valued at £284 A Wellington telegram states that tho iakoka Shucing Company washed' tip 30oz lor two-weeks. Tho Premier Buller dredgo obtained 41oz for 121 hours. fflE WEEK'S DREDGING RETURNS. Tho following roturns have to far been re ported for tho present week:— •

DUNEDIN- STOCK EXCHANGE. The market showed a good deal mote activity yesterday then it has dune for somo time, and a very satisfactory numbonof sales took glace., The tone Of • the market also improved, and tho majority of the sales wero recorded at, slightly advanced prices, buyers evidently recognising that sellers were determined, to hold,, on in preference to selling at late quotations. The river was stendy at 2ft 9in above the normal Bißlk; . ■ i The market for Alexandra Leads was father unsteady. Opening at an advance of Cd on Thursday's best sale, it hardened in thei morning, but in the afternoon it weakened somewhat, though there was a slight recovery before tho close. Sales were made at 12s Gel, 12a 3d, ' 13s, 13s Gd, 13s lid, 13s iy, 13b, 12b 7Jd (two parcels changing hands at this'figure), 12s 9d, and 13s, while the closing quotations were 12s 9d and 13s. The preference shares were steady, with buyers at 31s and sellers at 325. Bendigos made a move in the afternoon, probably owing to a report that tiie directors of the company arc likely to procure another ladder, and two lots were, soon taken up at Gs, more being : wanted at Ss, with sellers at 6s 6d. A sale of Endeavours was mado at 7s, but further sellers at 10s met with no response. One' buyer of Enterprises, come up to the sellers .reserve,', and a sale took place at 265, more buyers being in the market at 255, with sellers at 2s above that figure. A transaction was recorded in' Gold Kings at 3s,"while the olosing quotations were 2s Gd and 4s. Golden Elvers harde'ned in tho morning, but cased again in the afternoon. One sale was effected at 3s XOJd, two at 4s, and another at 3s 9d, at which pricc more shares wero obtainable, but buyers.closed at 3s 7Jd. Great Woodstocks, which have been neglected for a long time, camc into prominence, two parcels being taken up at 4s and twp at ss,' with further buyers at 3s and sellers at 4s 9d. Junction Electrics were a little easier, but Meg a.nd Annies finned. Two lots of the latter changed hands at 17s, at which price there were more sellers, buyers closing at' 16b 6d. A sale of MolyneuK Kohinoors was made at 4s 3d dis., after which sellers naked 3s dis., but • there were no buyers. Monte Chistos' wera. lli the market at 20s, but buyers were firm at 15s. -North Beaches and No Town Creeks were steady, as also wero Old Dunstans, Oliiga, Otagos,' and Pactolus shares. Ono lot of Rise and Shines was taken up at 24s 9d, and further inquiries were made at 24s Cd, "with- sellers at 235. Royal Maoris wore firm in the morning, but were inclined to ease after the return came to hand. ( Sales took place at ss, 5s 3d, and 4s 9d, the.closing quotations being 4s Cd and ss. Sailor's Bonds changed hands at 31s,' with additional buyers at 303 Gd and sellers at 325. Unitys were a littlo firmer, and ono parcel was taken.up at 17s 9d, and three more at 183, mors shares. being asked for at the latter price, with sellers at 18s 3d. Upper Magnetics also hardened, a sale taking place at ss, it which price more shares were wanted, but the best response was 5s Gd, Sales wore made yesterday at the following prices; -Alexandra Lead, 12s-fid, 12s 9d,'l3s, 13s 6d, 13s 4Jd, 13s IJd, 13s, 12s 7Jd, 12s' od, and 13s; Bendigo, 6d; Endeavour, 7s; Enterprise, 265; Gold. King, 3s; Golden River, 3s IOJd, 4s, and 3s 9d; Great Woodstock, 4s, ss, and 4s; and Annie, 17s; Molyneux Kohinoor, 4s 3d drt.j Rise and Shins, 24s 9d; Royal Maori,fis, 5s 3il, and 4s 9d; Sailor's Bend, 31s: > Unity, 17s 9d and 18s; Upper Magnetic, ss. ' The' following are' yesterday's latest quota'' tiorts, subject to the usual brokerage :— • Alexandra Lead-Buyers 12s 9d, sellers 13s. Alexandra Lead (preference)— Buyers £1 lis, sellers £1 12s Gd. • Bendigo—Buycrs ss, sellers Gs Gd. s Blackwater River— Sellers 2s dis. Boundary Creek—Sellers Is. Callaghan's Creek—Sellers 6s p, • Central: Charlton—Buyers ss. . Chicago—Buyers 7s Gd. ■ " Clyde—Sellers £1 7s Gd. , . Commissioner's Plat—Sellers ss. Davis's Belid—Sellers 5s Gd dis. Dunsian Lead—Buyers 3s, sellers 4s, Endeavour—Sellers 10s. Enterprise-Buyers £1 55,. sellers £1 75., Excelsior— Sellers 2s. ' ' Fourteen-mile Beach—Buyers Cs, sellers 15s,' Gentle Annie—Buyers Bs, sellers lis. ■ Gold ICing—Buyers 2s Gd, sellers 4s. Golden River-Buyers 3s 7J(I, sellers 3s 9tl. . Great Woodstock—Buycrc 3s, sellers 4s 9d. Junction Electric—Buyers 13s, sellers 14s 3d. Kelly and. Casey—Sellers 3s. •' Lady. Roxburgh—Sellers 4s 3d 1 dis. Lafrancln'o Freehold—Buyers Ss, sellers 15s. Last-Chance—Buyers Is, sellers 4s, Leviathan—Buyers Is 7kl, sellers 2s. - Leviathan (preference)— Sellers Gs Gd. Main Lead Hercules—Sellers 3s. Majestic—Sellers 15s. Meg and Annie—Buyers 16s Gd, sellers 179. Ivlelyneux Kohinoor—Sellers 3s dis. llonto Ch'riato—Sellers £1. I-felson Creek—Sellers £3 6s 6d.- ■ North Beaoh—Buyers 12s 3d, sellers 14s. No Town Creek—Sellers £115s. Old Du'nstan—Buyers 4s, sellers 4s Gd. Olrlg—Buyers £1 2s. sellers £1 3s 6d. • ■ -Otflgo—Buyers 12s Cd, sellers 16s. Pactolus—Buyers £3 15s, sellers £3 16s Gd. ' Prince of Walrs—Buyers 4s Gd, sellers 12s Gd. Rise and Shine—Buyers £1 4s Cd, sellers £i ss.' ' Royal Miioti-r-Bnyers 4s Cd, sellers ss. . Sailor's Bend—Buyers £1 10s Gd, sellers £1 12s O'Ji Tcviot—Buyers 3s 3d, sellers 4s. Unity—Buyers 18s, sellers 103 3d. Tinner Mapnetic—Buvers ss, sellers 5s Gd. Waikaka Queen—Sellers 9s. ' Woodstock—Sellers 14s. 1 Mining. Alpine Extended--Buyers 5s (53. MAJOR ROBIN GOLD DREDGING ' COMPANY. ■, ■ Tile directors of the Major Robin G.D. Com« . pany will present the following report for the y.ear ended May 31 to shareholders at- the , second annual general meeting: — "At. the wish of tho shareholders, expressed at last annual meeting, your directors have doito nothing towards putting a dredgo on the elaiiu except endeavouring to arrange an nlual: ganlation with two other companies holding ( adjacent claims, for the purpos6 df having the dredge in course of construction for, one of j those Companies—viz., tile Duke of Wollingtest the three claims. As the sharej holders know, this proposal was rejected by this company, and. the matter of getting a ■ dredgo to work the claim loft in abeyance.. The shareholders will have the opportunity at tho meeting to express their opinion, as to the future of the company. Messrs R. Hudson, ! JIM., and I'. J?.. Don are the retiring directors', 1 and; being eligible, offer themselves for re--1 election. Mr K. T. Wheelor, jun., retires as 1 auditor, and offers himself for re-election," ' At tho beginning of the. year tho profit cad 1 loss account showed a debit balance of £582 ISs 3d, and the expenses during the 12 months • amounted to £34 4s 7d, or a total of £677 2s lOd, against which £21 14s 4d was received in 1 interest, leaving a debit balance of £655 8s 6d

Oz. dwfc. t, Teviot, Roxburgh, 131{hrs „ G3 ig. o Jfew Vincent, Clyde, week 62 0 0 Waimumu, nr JIalaura, llVlirs'.. 50 *3 o Alpine Con sola, Cromwell, 84hra 43 IS 12 Premier Buller, 121hrs * 41 0 0 Enterprise No. 2, Alexandra T, 8011 , 35 17 0 iKoyal Maori, Upper Clutlia, week? 34 0 0 Endeavour, Roxburgh, 5& days 32 5 0 Waimumu Extended, near Mataura, 123hrs 28 14 0 Central Mataura. No. 2 Maiaura, lOOhis „ 28 7 12 lEttrick, Roxburgh, 124hrs .. .. .27 18 0 ■Davis's Bend, above Clyde, 4J days .. „ og 0 0 Central Charlton, near Gore, 127hrs .. ., ,, 19 G 9 .Enterprise No.' 1, Alexandra, „ r 128!irs ..18 13 18 Waimumu Central, near Mataura, 1 Joins .. 17 16 0 Success, Waipori, 5 days .. .. 16 8 6 Inchdalc, nr Palmeraton, 137hrs .15 11 0 Charlton Creek, nr Gore, 130hrs. .11 3 0 point d'Or, Upper Clutha, 118hrs 12 0 0 Inch Valley, nr .Palmereton, . 120hra .. 11 0 0 Hartley and Piley, Cromwell ,, 9 8 0. The West Coast. North Boachi llGhrs 32 11 : 0 Greenstone Creek, fortnight .. 23 0' 0 ■Welcome, 73hrs .. .. „ 17 5 0 ' Great Woodstock, 124hrs .. 12 " 3 0 '