MINING.

Otago Daily Times, Issue 12472, 1 October 1902, Page 6

MINING.

The return from the Waikaka United No. 1 dredge last week was 2Goz Bdwt for 18i hours' work. The return from the Empire dredges last week was 40oz sdwt of gold. Owing to the heavy snowfall in the Waipori district last week, the work of coaling the steam-driven dredges gave considerable trouble and caused the loss of a lot of time. The snowfall was unprecedontcdly heavy. The work of raising the Reliance dredge is likely to give less trouble than was at first anticipated. Mr Hughes (the dredgernaster) rigged xip an improvised diver's suit, and by this means has been successful in putting a temporary patch over the pin&king, which had been sprung and caused ths leakage. He is now arranging to get a powerful pump, to be driven by a traction engine, and is hopeful of having the dredge afloat and again at work in a day or two. The dredgemaster of the, Cromwell dredge wires that he lost 16 hours en.account of the screen pinion stripping on Saturday. Work has been resumed again, however, and the prospects are still vary good. The secretory of the Prince Arthur Gold Dredging Company received a telegram from Mr Gudgeon yesterday stating that the prospects were excellent. ' The dredgcmt&tcr of the N&w. Alpine Consols dredgo wirss that he is working a cut 25ft in width, and that he is treating Bffc of wash. The pvospoois are fair. The dredgerjiaste:: or. the Mystery Flat dredge wired yesterday that he waking very good progress in the matter of shifting the dredge, and that he was within five chains of the bottom boundary of the '.'aim. The directors of the Lady Roxburgh Gold Dredging Comply have decided to discontinue operations on the Gold Queen claim owing to the wash on which the dredge was working having given out. The return la-at week was IGoz 6dwt 12gr. The dredgemaster reports that the. dredge was working two chains from the top boundary, and that the extent of payable waeh was very narrow. The dredgemvster has been instructed to get the dredge ready to take up to the company's own claim. The annual general meeting of shareholders in the Ivwarau Consolidated Gold Dredging Company wa3 called for 5 p.m. yesterday, but as only six shareholders were present tho business could not bo proceeded with, and the meeting was adjourned until next Tuesday. Tho dredgemaster of' the Lower Enfield dredge reported on September 27 that the nice was blocked with snow to a depth of 15ft in places, but a thaw was then setting in. During the .stoppage of dredging the perforated plates in the boxes have beer, altered, and an improved treatment of the material is anticipated. The secretary of the Riley's Beach Gold Dredging Comriany received a wire from Mr Jolly (Cromwell) yesterday stating that the dredgemaster reported tbat the prospects were good. The ground is widening, and, if it continues, the return will be good this week. The dredge will probably have two weeks' work in front of he* before she reaches the top of the claim. If the river continues to ifall the dredgemaster of ths First Chance dredgo will resume operations to-day. Tho directors have decided to have the necessary material for extending the ladder by 10ft put in hand without delay, but dredging will be continued as long as possible this season before the new portion is fitted up.

Mr George Pettigrew, late dredgemaster of the Victory dredge, has been appointed to a similar position on the Golden Chain dredge; and Mr Alexander Wishart, formerly engineer of the Lady Charlton dredge, has been appointed engineer. Both gentlemen proceed to the dredge next week, and it is expected that operations will bo commenced very shortly. The dredgemaster of the Gold King dredge was engaged in effecting some necessary repairs while the dredge was waiting until the arrival of the new tumbler. Work was resumed oh Friday last, but when a depth of 33ft had been reached the flange of the new tumbler broke, necessitating another stoppage. The dredgemaster intended to effect temporary repairs, which would enable work to be carried on until the arrival of a new flange from Dunedin. The time worked by the Inch Valley ctredge last week for the.raturn of lfioz was 13 hours. The dredgemaster reports that ho is worEng across the fiver, and is of opinion that he should turn Tound and dredge up the river, in which case he thinks better returns would be obtained. The directors of the Endeavour Gold Dredging Company are ojice more in the fortunate position of being able to reduce the company's indebtedness, and they have decided to redeem debentures -to the extent of £250. This makes a total redemption of £775 worth of debentures, and leaves a balance of £250 unredeemed. It is expected that tin dredge will have a steady run thi3 week as the machinery is now in thorough working order. The dredgemaster of the Molyneux Kohinoor dredge reports that he resumed dredging on Wednesday, September 2-1, when he found that the paddock had been silted up owing to the large amount of drift travelling. The dredge was working just below Manuel's tail race, the result of which was that the current was very strong, the heavy drift being attributable to this cause. The ground on the west of the cut being worked is still too deep for the dredge, though the ladder has been lowered as fav »s it will go, and the dredgemaster is therefore confining his attention to the shallower ground. Should this not prove payable the dredge may bo shifted about 100 yds ahead, where the ground is not so deep, and where there is not so much drift. The directors of the Success Gold Dredging Company have declared a dividend (the thirtieth) of Is per share. The dividend is now payable. An Auckland telegram states that the gold returns for Auckland district for the present year to date are valued at £525,009, which shows an increase of £36,820 over the yield to the end of September, 1901. Mr Goodlet has just returned from a holiday trip to the West Coast with some interesting specimens. These include more samples of ruby rock or " Goodletite," so named after Mr Goodlet, whea he discovered thiß stone a few years ago. When proceeding overland Mr Goodlet picked up at Castle Hill a piece of stone, which, on being tested) by him at-'-Reefton, was found to contain a fair percentage of phosphate and carbonate of lime. He is inclined to believe that a great deposit of phosphate will be made in this locality. Mr Goodlet was cordially welcomed on the Coast by numerous friends made when he used to pay visits to the Schools of Mines with Professor Black, and he was not allowed to escape without giving one lecture. The Dunstan Times makes the following reference to the Davis's Bend claim:—'"We understand that there arc two very rich narrow leads of gold in this claim, which, if worked exclusively, would yield over IGOoz per week. The ground on either side is payable, and tho dredgmaster is wisely working it on a face, and taking the medium wash with the good. Unfortunately this dredge has only another 15yds to go before the boundary is reached—a matter of only a few days' work. The wisdom of the directors in deciding to give the claim a trial when it was purchased from the Cairnmuir Company is obvious when one learns that some 6350z of gold has been obtained for the 22 weeks worked—an average of nearly 290z per week. Allowing 13oz for working expenses per week there remains a profit of 16oz, and for.the 22 weeks (gold at £3 17s Gd per ounce) a profit of £1364."

The following items are taken from the Dunstan Times:—The work of dismantling and shifting the Boundary Creek dredge from the claim above Clyde to Galloway Flat is proceeding apace.—The New Vincent had the misfortune to break the screen driving wheal 'on Saturday afternoon. This will necessitate a stoppage until a new wheel can be obtained from Dunedin. The dredge has been operating on fair wash.—The Old Dunstan was pulled ahead at the beginning of last week having struck a bar of rocks, and, as the pumps gave trouble, there was no wash up last week. The dredge has, however, now opened out, and bottomed on soft wash, and a decent return may be looked for this week. The Nevis correspondent of the same paper says:—" Things here ai-e beginning to assume an alarming aspect. It is now four months since many of us did a stroke of mining work, and there is no more sign of spring now than there was six weeks ago, indeed the weather' is more bleak, and tho storms more bitter than ever. The dredges are working away as best they, can under very adverse circumstances.—The Ngapara No. 2 had a slight accident last week, but it wa3 not very serious. The top tumbler of the elevator shifted, but it is.all right again.—The Ngapara No. 3 is getting fair returns, as is also the Crewe, 1 am told. I have not heard the returns of the Crewe dredge, but report says they are small.— None of the sinkers have made a start cs yet."- I DUNEDIN STOCK EXCHANGE. The share market showed no improvement yesterday morning, and only three transactions were recorded at the call over. There 'was a marked improvement in the afternoon, both as regards the number of sales and, in Borne caises ; the prices also. The. settled weather, together with the minimised risk of a flood at present, has no doubt inspired speculators and investors with a little more confidence, and should the atmospheric conditions remain favourable for any length of time there is every reason to look forward to a fair amount of business. The river was 3ft Gin above the normal mark at Alexandra yesterday morning, and the weather continued fine, Alexandra Leads were firmer at the morning call, but sellers held out longer than buyers, who advanced m the afternoon. Two sales took place at 153, at which price more shares were in the market, buyers closing at 14s 9d. In consequence of the Alpine No. 2 dTedge being en good gold, shares in that company were in fair demand, and sellers got the price they have been asking fcr the parst'few days. Three. parcels changed hands; at 20s, which apparently satisfied both buyer* mid sellers, as there were no further quoiatmna Bendigoes were firm, and one sale took place at lis 6d, at which prico ther.-; were more sellers, but tho best response was lis. Davis's Bends and Dunstan Leads were both firm, but Endeavours were inclined to ease, though the last-named may harden in consequence of the improved financial position' of the company. Enterprises were firm, and so wcrs First Chances, while Golden Hirers were unchanged. One pareei of Groat Centrals changed. hands at 3s 6d. and more shares were wanted at is 3d, with sellers at 4a. Meg and Annie:; wex» firm, and so were Mokoias, but Monte Chistoes weakened. Mystery Flats were .'steady, and tboro was no alteration in New Alpine Consols, while New Golden Gravel! hardened a little. As a result el r tho New Roxburgh. Jubilee being on good wash, the shaie3 in that company took an upward move, a.-'.d Prince Arthurs baidened for a'similar leacon. Throe sa:es ot' the iatter took place at 15s, one at 15s I'd, one at 15s 6d, one at V6a 7id, and two more «i 15s Gd. The improvement in tho ground being treated by the Riley's Beach drrdge was responsible for a marked advance in Unit stock, and sales were effected Bji 24s and 253, while the closing quotations were 24s 6d and 2Cs l>d. Two lots oi Rise and Shines changed hands at "4a Gd and 2.45, after which shares vera :.n the market at iiss Gd, bin- ther.; were no buvert.

Sales were made at the following- -pticirs yesterday.:—Alexandra l-iss-d, 15*, Aipine No. 5, 20s, Bendigo, He, Gd; Gja&b Oerrtral, 3s 6d; Prince Arthur, ifijs, 3.3s 3d, ISs 6c!, J5« 7§d, •And 15* 6d; Kilty's BevJic, 34s iwid 255; Kiss and Shine, 24s 6d and 2is. The following are yesterday's lViest qt!c*.atioufi, subject to the usual brokemgo: — Alexandra. Lead—Buyers 14a 95, sellers 15:. Bemiigo—Buyers lis, sellors lis 6d. C-ftllagfaall's Creek— Buyers 3s Gd p. Davis's Bond—Buyers 3s, sellers 2s Od dis. Electric—Sellers £1 15s. Endeavour—Buyers 4s, sellers ss. K-n-lcrprisc—Buyers £1 7e, sailers £1 10n. First Chance—Buyers 13 s 3d, sellers lis Gd. Fourteen-milo Beach—Sellers 4b. Gentle Annie—Sellers 5s 3d. Gold King—Sellers Is. Golden Beach—Buyers 3s, sellers 2b 6d. Golden Bed—Buyers 7s 6d, sellers S3 Cd. Golden Gate—Sellers £5 2s 6d. Golden River —Sellers Is 9d. Great Central—.u-uyers 3s 3d, sellers 4s. Great Woodstock—Buyers Is Gd. Hartley and Riley—Buyers sellers £1 ss, inchdale—Sellers 10s. Inch Valley— .buyers 4s 3d. junction Electric—Sellers 9s 9d. Kohinoor—Buyers Ss, sellers 12s. Lafranchi's Freehold—Sellers lis. Leviathan—Sellers 5s 3d. Maori King—Sellers 6s. Meg and Annit—Buyers 6s, sellers 7s 6d. Mokoia—Buyers 6s, sellers 9s. Monte Christo—Buyers 4b, sellers 7s 6d. Mosquito—Sellers 19s. Mystery Flat—Buyers £1 0s 3d. New Alpine Consols—Sellers 16s 6d. New Golden Gravel—Buyers £1 3s, sellers £1 7s. New Leaning Rock—Sellers 4s p. New Roxburgh Jubilee (paid)— Buyers £1 4s 3d, sellers £1 6s. New Roxburgh Jubilee (contrib.)—Buyers 6s pNorth Beach—Buyers £1 0s 3d. Old Dunstan —Buyers la 3d. Paetolus—Sellers £3 Is. Perseverance—Buyers £1 10s, sellers £2 10s. Prince Arthur—Buyers 15s 6d, sellers 15h IOJd. Reeves's Proprietary—Buyers Bs, sellers 10s. Riley's Beach—Buyers £1 4s 6d, sellers £1 6s Gd. Rise and Shine—Sellers £1 53 6d. Royal Maori —Buyers ss. Sailor's Bend—Buyers 18a, sellers £1. Unity—Sellers 12s. '■ Mining. Alpine Extended—Buyers 2s.

NOTES FROM ARROWTOWN. (From Our Own Correspondent.) ARROWTOWN, September 30. The Indian Glcnrock Company, Macctown. — This company cleaned up for the month of September for 2310z 9dwt 12gr from 230 tons ot quartz. .Mr TV. Pattern, the mine manager, reports that the 'reef in the slopes looks promising, and has a more permanent appearance than usual. 'Che mill work was much hindered during September owing to the scarcity of water, which is a very rare occurrence for this season of the year. The weather for the past few days has been fair but cold. At present a change for the woifee is threatening, probably meaning rain, in which case the rivers ara sure to rise. THE WEST COAST. (Fbou Ovs. Own Correspondent.) GREYMOUTH, September 30. The wash in th« Aldinga dredge is improving, and prospects ahead are very hopeful. Tho Victory dredge is working well on gradually improving wash. The return was 250z. The Trafalgar dredge had no wash up on account of stoppages. Th-s prospects, however, are decidedly encouraging, and a much better return should be obtained shortly. Tho contractors are pushing on rapidly with the completion of the Moonlight pontoons, and tli 3 dredge should get a start by tho new year. Good returns are anticipated. Tho Erickson's Reward dredge, in giving 3Soz ISdwt for 120 hours, put up her record. Tho wish is a good sample, and the prospecta are promising. , The Ahaura-Watterson's* Company are refitting the dredge, which will then be shifted up to the mouth of Sullivan's, where old miners anticipate good yields, and where the dredge should get on to the'lead. The company, having a small' capital of 3000 shares and two claims and two dredges, has really good prospects before it. The Waimangaroa dredge will probably commence work at the end of the week. Provided tho machinery proves strong enough to cope with the stuff the dredge should get good'returns. THE FOURTEEN-MILE BEACH GOLD DREDGING COMPANY. TO THE EDITOR. Sir,—l notice Mr John Ewing's letter dated Wellington, 2Gth September, in your issue of to-day's date. ' The statements therein contained do not require contradiction for tho benefit of shareholders who had kept themselves informed ot the course of events m this company, and I do not suppose that the public are sufficiently interested either in Mr John Ewing-or myself to warrant my entering into a correspondence which his friends may antic* pate would be at least voluminous, if not instructive.—l am, etc., D. Crawford, Secretary of the Fourteen-mile Beach Gold Dredging Company (Ltd.). / Dunedin, September 30.

DAVIS'S BEND COMPANY. . TO THE EDITOR. Sir,—-Kindly, allow me to add this to the letters which have already been written anent the above company. I notice that during the past eight weeks this company has "won over £1300 worth of gold. Surely it is time the unfortunate shareholders „<>& a little back, especially when u. lot of us paid ai premium of 10s to take up the original shares. If the directors will not send a circular to the shareholders (printing is cheap enough) showing theii intentions, then my advice to the shareholders is to call a meeting and find out for thomsolvos what is the trouble. Why should shares paid up to Bs, with a clear dredge, two claims, and a big balance at he bank, bo selling -it equal to 50 per cent, discount?—l am, etc., * Weary.