MINING.

Otago Daily Times, Issue 12934, 29 March 1904, Page 6

MINING.

The mast" of the iJnfieki..dr*«lge- reports a return of 2207. i3a«rl. lSgf-feir. .1291 hours' work. Tjic dredge i 3 working, well. The secretary, of the No Tpwn Creek Gold Diedgin" Company reported that the dicjdgemasier washed up for .fc return SoJ3oz. for five daj'.s' work. The dredgeronster wired that J.he circtlge had. been sionpid.'oviiiis tq theilynami) breaking .dpwii, During'-ibb W'i' of Ul *' week' the dr.cdge was eiigiiij.cd jiv cleaning out the siif left ill the paddock by the recent, .flood. . ,: ■■■,■ v ■'flie sccrealry of- (he .Siiliiva.ii s.Xead Qo\W Prcdgin" Company. reports a rclur.h of 12oz 3dw.t for 100' hours' Svor!;,- Tlifcdrjiilgemastcr ißports- that he 'was ■.engaged, dnriiig the remiiindei- of i\w week'reuioying a.ftuiup. The dredgb is' now working '.6.ffc. froin \-ihi facer. ' 'Part of the material.ifor the extension, of .the. elevator on.^lie;.Gbldeh. : VnitC!!;<!ietlge is: now mi the claim,' , ' thc/rchiniiic.d -Baying left, liyt'tclton on Saturday... Ib'e-()rcdße,is expectetl io , be. at work agniii. iri.'about 10 days, '. Our W.ether3tone9; : 'cbn-ospmideiit.:. writes; uiicler ■date '.-Mraifiay,. 28th:inst>, asjpllpws.: t■Th'ere was liS'.wae'h-doivK OP' either' , of. 'the. ■lij-ilrmiKc .clairns-last .weeki■■'. The. manager of ; th'e GiWen-lCfee'cenf claim;and 'hll-his rneii. : wero; oVit- on 'the jace.repairing: fbr. ; three days , ; last w'eek': 'There wii''* , -bad , liireifc-in , .lKc'-rajee.. which : :rcquired.;flimiingi '.end ;; »», ,'he : : locality :bf'tlieVbreakogel\va3:»: good. distrince;:out this: i.jnc'n:liad; to.canip-.tlicre. , ,during ;were".engßged;; : ::Tlie.inn,iiager of the Local-Inr ~duslry".-VfiH'probably finish tha^paddock-'this , Veek/iy.The; c;:tcnt of , .bottom;uncoverecV-.-is' very,large, and the paddock is from eix to seven chains in length and from three to (four'.

■chains in width. .AH the high reef was clbaiiid, the wash lying in the gully from, where ■it is to; b'j driven down, towards the j>l bole; As illnstritmg the' , enterprise qf Bnjtwijnites., we learn that as a result of lit John M'Grcgot's visit to South America his firm lias secured contracts for four largo, dredges, to bfc constructed in Ditneilin for the Ss-n Juan fii Ofo :imd Aißenlina GoH Dredgaiig Companies. The liiadtincs are ot :a heavy type, steel being need ihrqugliou't, and will cost when erected approximately ■ £M'fiW\. of which £5.0,000 worth of matcrial will be handled, in Duuedin. Kacll of the San Juan Di Or.o. <lr«lges Will have as motive-, power two (!0 HvH.P. Cros.sley gas engines, supplied by a suction gas plant. The fuel used :ii auiliriicite cpb.bb;t or coke, the consumption toing very small, and leas than lib of coal per brake horse-poivw per hour. Messrs Sa'rgooJ, Son, and Ewc.n (of this city) has a plant of this do.=criptid:t supplying' a 2C-35 Bill.JP. Otto gas engine, i'litming 48 hours •' per week, with, a consumption pf half a. ton of coal.. This iiisia-llatiou gives thorough satisfaction, and js weil worth examination by persona -interested. When the I'ao'tohii l\'o, t dredge started work she got excellent returns, and tlie general .opinion held at that time regarding the. claim wasthat it would provp to bi- One of the best on the West CosH. For smns time (l>? yields .left, a large .margin of profit, but instead of declaring dividends the dircctorH decided to littijiire another dresige,' and ke:op. two machines at work on the claim. Tlie wadi became, poorer, however, after the seconu 1 dredge. sliiMcd, and [or. a considerable period the returns have hceii ■ of a rather disappointing.. nature, with ihe result that lip to Ihe present shareholders have . received only 4s per share, or (in aggregate ol iiiOU, in dividciids. The quantity oi , %a' 4 won last year was 27iGoz .l.odwi {isr, valued at £10,741 103 3d, and produced frf» cost of . £7375 Oa sd, while the total output from liie time operations were commenced \ya* GI0"oz I9clwt !>gr, valued nt .ffi.iXl U 9<l, and won at. a total cost. o:f X'30,2Jl ■!«. On December 111 the company hail a bank haiance of iC:)f) l)s ?ii, hut the Ihilii!ilii3 itdiomiijii Ip .CGH His Stl. The return from the Xu, 2 drrdjje last week was very good, and it' future yields come up . near that figure, the company may Vet liave a. profitable career. ' The Elec-trie CoM Dredging Company, which lias again ooine into prominence us i'i result of the Imldsonit! totmiis pbtainctl by the. .N'o. 2 dredge, has had a. V.ory successful career' since tlu- issue of tije last annual balance sheet, anil judging by -present jiiospccts share'.holders should receive dividends .in rapid sii''-cc-s3K.li aw sbon ii 9 the river ««c[iim its V;iiitcr ieve.l. During tlie half-year ended FeWuaiy 2:) the quantity fit gold won v.-ss IGJiCoz lGilwi, vakitd at fl-7,980; 3$ 10d, iind-lhe total income : for that, period, including In? transfer of ilia frpni tlio reserve Innd, was i-18.142 Ills 7il while the expenditure under the' iieadiii" of profit a>id loss wirs £.iCO7 .".s It}. Tlic sum. of p%m. CQiiul tb 103 per share, was ili-:!r.ilj|ilf ( | in dividcnda during |.], ? lialf-yc-ar, and anotliM dividend (tl le rwiiVy-thM) of :l , .-. el , * u was payable on .Jlarch 1, for the wmd of jvincli iSjJOO had to lie aside, Vvhen tfa< book., worn dosed !h.e company fail UW I'N M- m the bank, (. rcservfe-of £2000. ard' iwi l-.UI.Ud .on deposit at, iiLfereSt, whila the pdW diHij.Mil WS valued at ,M7G K» llq-maldi," o total of JiKMM 38.. ,10d. a 5 a!ra ii,,l wl.jcii ■i-livn ivcre: feunufy cteditoro,- k% :!,- j,,, ropis tax accrued, Jf-ISB 10s; and provision for A progres? «pßrl issued by the .Mount Lvcll -Ui .ins iinu 11-.llfay fujiHWiiy for the uWk ste i)s in the 100,1 level in Co Sortlr Mount I.vcll iiihie was prod-ypin-g fin'r-srndi- ore, k« i\'o 7, A, C. ni;d.m,iii in i.hc.2(X'it. lei-01. 'lire •-P, V, A.O. b ; and mom slopes in iho- oooii ■■ eve . and the mam slopes in the 40f)Jt and 500 ft levels were also producing fair-"rsd e ore The account of surface work states iliat k the Wh Lyell open cut ovmburdeii w.is being woken for fi-l!in<r purposes, and p. -little ore was being voii despatehed. At the J.ye.ll Tlmrsis open cut overburden wes being remr.ved nn'd ore broken for the emollors, and the Usual 1 (jlio.nlify despatched, Boili the smelter and converter plants wero iri oporplibn ill {lie re dilcfion worl;s. Since- the "inception of the company 4417 tons of blister copper have been '•consigned. THE WEEK'S DItEDGIKG RETURNS. During the week ended Monday, Hutch 28, returns were .reported from the 'fohWiif 53 dredges, the iotiil yield beinjr ijiDd; Mwi hn qr an average of 250z per dredge; — Oz. divt Electric Xb. 5, Cromwell ~ lfj-l o 0 : : Lady Roxburgh, Roxburgh .. 80 1 0 Golden Kitri, Minor's Hat, U2hfs ",. ~ ~ 74 15 0 Ooiden Bed, Miller's Flat, 130hrs ~ C2 17 0 Perseverance ICb. 1, Alexandra .. 02 5 0 EarnSclciigh No. 2, Alexandra, MOhrs .. ~ .. /. .. ~ CO o 0 .Hessiiy'j, Witikjia. IBllira .. .5-1 11 o Qt.ago No, 2, Miller's Flat, phrs 43 0 0 Rise nnd Shine No. 1, t')i]>er Clutha, week ~ 42 o 0 Dimstan Lead, ' Alexandra, broken week 41 j. 0 Sandy Point, Alexandra, 120|irs 4() I 18 Shcddon.'? Freehold, Wailralta/ivk do f) 0 ■Ettricls, Jloxburgh, Kilhrs .. 2!) o 0 .Glrig, Manuherikia, jyefk .. ~ 25 3 12 lVeasnrc, Kfitier'sFliif .'. °r> 0 6 Rising Sun, Up. piutha, llolirs 21 1G 0 Central Ciiarl.ion, !!ear (3ore, l.iphr.l Jl 2 il Enfield, AVaipori. IMJhrs .... 23 la *ii* Waikaka Qiieen t Waifc'itii. 127hfs 21 Jl o> Charltori Creek, near Gore* JSOhrs 20 11 0 - Royal Waimumu, near Mataiua, . w l^'l ",, 20 .10 o Upper Waipori, Waippri, HShrs 20 0 (i MacCharlton, npnr Gore,. lJClirs 10 19 0 Waikaka. United No. 2, Waikalta ..SShts „' .; .. 19 3 0 Ma-taii, oyde 18 0 0 U6.lde.li Gate, Miller's Plat, week 18 0 o "Eiapelra, Tuapeka Flat .. .. 17 s 0 Entcvpriso No. 2, Alexandra, . «"■ ; if 0 0 laliiwha, iUapeka Riyer .. .. 17 0 0 Wnimunm.. near ilatanra, lllhrs IB 1C o : .hnterpriss No. 1, Air::andra, wk lfl 4 ™ Lawrence, Tuapeka Flat- .. ~ IS 17 o -Ilapiiy VaKey, Tuiipeka-Flat .. 15 5 0 .Nugent Wpod, Waikaia, 134hrs.. 14 5 T2 Wakak.f: Syndicate, Wn-ftaka, wk 14 () o C'lii'cngp, Alexandm, lJOlirs .. ],1 1C o Nev/ Prince Arthur, Upper Shot, °™ r , lii 0 0 Cairiitrodlie, Pctjlju.rn, 127hrs . ]2 14 0 Waikakii, Waikaka. lllhi-s .. „ ]» ]3 o ' Revival Ciut.hn, l.iHirs .. .. 12 fi ,ii ■ Reliance, Tuapeka Flat ;. .. 12 0 (i Sunshine, Upper C'utlra, week.. 11 G p ptagi) No. 1, Jlilier's .Fla.f, i:S7hr.s 1:1 0 0 Cp.nlral Matifunf, nr Gore, 129ht9 10 4 0 Ijichda.le,. iir PaJ.mtrsto.u. ITOlirs 10 4 li Rise and Shine No. 2, Upper .elutha, week .. ..' .. .. lfl a 0 .Mystery Flat, V.'aikaia, 1321ii-a 8 19 18 Junction Electric No. ], Cromwell, 128hrs .. r n 0 Galjuel, Flat, 2days .. 8 0 0 Cromwell .No. 2, Cromwell i2Shrs 7 6 0 Inch Valley, near Palmersfon, : 125hrs .. 7. : 0 0 Crbiuwdl Ku. 1, Cromw.-11, .2041)13 6 C 0, -Ngapari No. 11, Nevid River. )2Mlrs ~ .. .- 5 ] fl n Total l;B9 4~22 The. West Coast. TylackwaJer River, IfiSliTj* .. .. 72 0 0 ! X?]soii Creek, l'2liirs , G7 0 0 I'actolusKo. 1, I3shf s .. ~ ~ c .i o (( No Town Cit'.ek, 5 days .. .. 3.1 0 q Mpsquifo, iy(>ek 32 0 6 North jJeach, 2:ihr3 .. .. 27 11 0 : ReevM's Proprietary, 1381ns .. J!) 15 0 ; (.'rreenstone Juiic-lio'n 18 :i 0 'ITirce-roile (Gr.eeiisioiie t'rtek), .OShrs •Iβ. 9 0 Aew C«miriissioner's Flat .. .. 13 f, 0 Sullivan' 3 Lead, liolira .. ~ 12 !i 0 Total ~ ... ... 373 Jl'- 0 DUXEBIN , STOOfCKXCiIAXOK. The Molyiiettx :River again slioWa an appreciable fall, the height of the riytr at Alexandra yesterday niornins; Gft lOin. aboi-e the Tiorinal mark, or oin lower than -on'.Saturday. If tfie r.iver contiiiues to fall at this rate it will . not be Icing; b.efore all the dredges, ara at ivprk again, when good, steady returns, may be. looked for, Business .oil the Exchange , yisteiv Bay was not very bright, only the regularly ■ quoted slot;k| beim; dealt-in. Bigne.lt's No ToiVn sha.ccs siipy.'ed a slightly weakening tendency, buyers inquiring for them at JSs 9di and sellisrn cloning ill W.s i):L Klrc- ' (rica remaiiiod \:ery lisu,/ but buyers failed to coinp u,p fa the price asked for by sellers. : Golden Be.ds showed a, hardening tei.dcncy, and ■a parcel changed haiub at lffs 9d, with further ■.inquiry froni. buyers at the same price, but s_ellcrs would ndt .accept less tliaii 13s Cd. Hartley and: Rilcys. we.ro again in evidence, and two parcels changed hands at 74s and 7,1 j ■ Cd, with further buyers at 745., while sellers : CloFcd at 7f>s. Roxburgh cpntribiiting, fliarts, ex dividend, improved slightly, while the paid-up shares remained jinn., llanilherikias were a shade , easier than, recent rates, while New Alpine Cpiisols .were, also inclined .to eosc New Prince Arthurs were, rather dull, sellers ofFerms them .nt 2-3 C<t p., but lip buyers responded. Unilys showed a firming tendency, .and' a par.cel i-honged. hands at Cs Gd, with