MINING.

Otago Daily Times, Issue 12420, 1 August 1902, Page 6

MINING.

The dredgemaster of the Erickson's Reward dredgo wires that dredging was resumed on Wednesday, and that he will wash up on Friday. The return will include the gold obtained during the three days previous to the stoppage on Wednesday week.

A Grcymouth telegram reports a return from the Kohinoor dredge of 19oz 12dwt, and one from the Grey River Extended dredge of 7oz lOdwt for 115 hours.

The interim secretary of the New River Molyneux Gold Dredging Company (Mr John B. Brugh) requests shareholders and anyone wishing to take shares in the company to send in their applications, at once.

The directors of the Shotover Quartz Mining Company notify that a call of 2d per share has been made on all contributing shares, payable on the 13th inst.

| A wire was received from the dredgemaster | of the New Alpine Consols dredge yesterday afternoon stating that the bottom was hard over an extent of 18ft in tho centre of the river, but was composed of soft pug for a distance of 25ft on.each side. He was dredging to a depth of 3Cft on the road sido of tho cut, and to a depth of 40ft on the west side, and he intended to work near the east bank only, as the ground near the opposite side was too deep. He stated'that the prospectswere fair. .The greater proportion of the shares in the Aew River Molyneux G.D. Company have already been applied for, and the flotation of the concern is now practically assured. Share, holders in the old company and others desirous of taking up shares in tho new company are requested to communicate- at once with tho interim secretary (Mr J. B. Brugh), from whom copies of the prospectUß can 1& obtained. Applications will close on Monday next, 4th inst. The dredgemaster of the Sailor's Bend dredge advises the secretary that he' found it necessary to suspend operations on Tuesday last in order to effect some repairs," which he expected would enforce a stoppage of at least four days. The machinery Requiring attention was taken to tho local foundry on Tuesday, and the repairs are being pushed on as quickly as possible. Tlicy were expected to be finished in three days, after which thje.machinory will have to he put in position again. Therefore if there is any return this week it will.in'all probability be small. .'-■

The Cromwell Argus states that ithe 'Rising Sun Company expects to have its dredge at work within six months. The contractor for taking down and reconstructing the pontoons (this . company bought, the Smith's Creek dredge) has heen-lct to Mr Gordon, who built them originally, and the cartage contract has been secured by Jopp Bros; This will make the second first-class dredge on the Clutha. and then the prospects obtained by- boring will receive the test of actual dredging. An, Auckland telegram states that the Komata. Reefs G.M. Company during tho past month treated 980 tons ore'for bullion valued at £1930.

An. Auckland telegram 'says:—The Kauri Freehold (Rangatira mine) has cut a reef at the 300 ft level carrying good gold, and some splendid specimens hp.ve been obtained.. This is an English-owned company. The dredging industry is gradually settling down to.its proper level, and from this out should, under ordinary circumstances, make steady headway. The best proof of the progress being made is found in the amount distributed in the shape of dividends, and a- comparison of the sums paid to shareholders in this way during tho months of Juno and July shows an increase of more than £2300 in favour of the latter month. During June dividends were paid by 17. different dredging companies, the total amount distributed' being £10,936 9s, while/during Duly' the. sum of £13,269 _15s was paid by the same number of companies. ' Tho Alexandra Lead and Waimumu Extended Companies each paid two dividends last month, those in the former being 10s per share on the preference issue and those in the latter 6d per share. Three sluicing companies figured in tho dividend list in. June, and paid out £1785-12s-Gd, but only one (the Deep Stream) paid » dividend last month, the amount being £300. Though £13,269 13s was the amount paid in_ dividends during July, three companies,. not included in the total, declared dividends aggregating £7050, which ajo not payable until this month. .

The annual meeting qi the Waitahuna 'Cinnabar Company, called for last evening, lapsed for want of a quorum, and stands adjourned for a week.

DUNEDIN STOCK EXCHANGE.. The share market, though firm, wa3 rather quiet yesterday morning, and the business was confined to eight sales.in two different stocks. There was a .considerable improvement in the afternoon,, however',; when 19 transactions were recorded in' eight stocks.' :The market generally was firm, and Alexandra Lead shares hardened a good deal in expectation of a large' return this week.- The height of tho river at Alexandra was unchanged. The first sale of Alexandra Leads was effected at 14s, at which figure three more parcels of shares were taken up, but after this the stock hardened- steadily, transactions being recorded at 14s 3d, 14s 6d, Ms'9d, and 15s, five lots changing hands at the last-mentioned price. There were further inquiries at ■ 14s 9d, but holders would not accept less than 15s. The price of Bendigo shares has fluctuated in sympathy with the prospects of. arranging the finances of the company satisfactorily.' Tht stock was decidedly'.firmer yesterday,- and a rale took placo at JOs 3d, at which price more shares were wanted; the best response, however, being 10s 9d. Dunstan. Leads also hardened perceptibly, while Electrics wero firm.. Two lots- of shares in the' latter company changed hands at 3Gs, more sellers being in tho market p.t 375, but buyers drew up at 355. Enterprises were firm, and First Chances improved a "little. A sale of Gibbstons' was effected. at 2s. but another selling offer at 2s Gd met with no response. Two transactions wero recorded in Golden Rivers at 3s 3d, while the closing quotations were 3s Hd and 3s Gd. In four instances sellers of Junction Electrics came down to what buyers have been offering for some days, and a corresponding number of sales were made at 13s Cd, at which price more shares were asked for, but further sellers closed at Ms. Monte Christoes were slightly easier, but Nelson Creeks were a shade firmer. Two parcels of Old Dunslans changed hands at 3s 9d, and more buyers were in the market at 3s 7Jd, with sellers at 4s. Rise and Shines were firmer, but no business was done in them. A sale of New Roxburgh Jubilees was effected at 17s Gd, and more sham were in the market at the same price, but buyers would not advance beyond 15s. Teviots were steady, and two sales took place at ss, the closing quotations being 4s 9d and lis 3d. Unitys recovered a little, and Waimumu Centrals were firmer. Sales were made yesterday at the following prices:—Alexandra' Lead, 14s,'lis 3d, 14s Gd, 14s 9d, and 15s; Bendigo. 10s 3d;. Electric, 3Cs; Gibbston, 2s; Golden River, 3s 3d; Junction Electric, 13s Cd; Old Dunstan, 3s 9d; New Roxburgh Jubilee (paid),. 17s Gd; Tcviot, -53. The following are yesterday's.latest quotations, subject to the usual brokerage:— Annie Queen—Sellers 10s. Alexandra Eureka—Sellers 15s, Alexandra Lead-Buyers 14s 9d, sellers 15s. Bendigo—Buyers 10s 3d, sellers 10s 9d. Davis's Bend—Buyers 6s, sellers 4s dis. Dunstan Lead-Buyers 4s 3d, sellers 4s Cd. Electric—Buyers £1 15s, sellers £1 J7s. Enterprise-Buyers £1 5s Gd, sellers £1 8s Gd First Chance-Buyers 19s, sellers £1 Is Cd. Fourteen-mile Beach—Sellers 6s Gd. Gibbston—Sellers 2s Gd. Gold King-Buyers 2s, sellers 3s 3d. Golden Beach—Buyers ss. Golden Bed—Buyers Gs. Golden River-Buyers 3s %1, sellers 3s 6d. Great Woodstock—Buyers 2s, sellers 4s 9d. Greenstone Junction—Sellers £1 2s. Hartley and Riley-Buyers £2 2s Gd, sellers £2 7s Gd. Hokitika. River—Sellers Bs. Junction Electric—Buyers 13s Gd, sellers 14s. Leviathan (preference)—Bnvers 4s Gd, sellers' Gs.

Leviathan Freeholds (paid)—Buvers 9s. Manuherikia—Sellers £1 12s. Meg and Annie—Sellers 15s. Moltoia—Sellers 10s. Molyneux Hydraulic-Buyers 3s, sellers 3s 9d. Molyneux Kohincor—Sellers 4s Gd.. Monte Christo-Buyers 16s, sellers 18s. Mosquito—Buyers 15s, sellers £1. Mystery Plat—Sellers £2. Nelson Creek-Buyers .£3 2s, sellers £5 Os New Alpine Consols-Buyers lGs, sellers 10s Gd.

W Halfway Honse-Buvcrs Is, sellers 3s. New Roxburgh Jubilee (paidl-Buvera 15s sellers 17s 6d. ' New Roxburgh Jubilee (conlributing)-Buyers Is 6d p. Old Dunsfan—Euyers 3s 71d, sellers 4s. Riley's Bench—Sellers Is p. Hiso and Shine-Buyers £1 8s 3d. sellers £1 8s 9d. Sailor's Bend—Sellers £1 Ss. Teviot—Buyers 4s 9d, sellers os 3d. Trafalgar—Buyers 10s. Unity—Buyers 13s, sellers 13s 3d. ■\Vwmumu Central-Buyers 7s Gd, sellers Bs.