MINING.

Otago Daily Times, Issue 12990, 3 June 1904, Page 6

MINING.

The secretary of the New Fourteen-mile Beach Gold Dredging Company reports a return of 150oz 7dwt. for 90 hours' work. » The secretary of the- Waikaka Gold Dredging Company reports a return of 18oz. Tho secretary of Hie Ilessey's. Gold Dredging Company reports a return/of 3te l'2dwt for 127 hours' work. The secretary of the Waimumu Queen Gold Dredging Company wired'- yesterday to the effect tint the oil engines have been a decidcd success, and that the official opening will take placc next week. Th'e secretary of the Mokoia Gold Dredging Company received a wire irom tho act-ing-dredjemasier yesterday to (lio effect that the river was in high flood, but tho dredgo was safe. The secretary of the Waikaka United Go'.d Dredging Company received a. wire from the ir-aster of the No. 2 dredgo yesterday to tho effect that, the main engine had broken down, and that work had therefore to be stopped. The secretary of the 'Patcrson's Freehold Gold Dredging Company reports a return or 1307. for 133 hours' work last week. The dmigemasku: reported that the wash was improving. The paragraph referring to the Matau Comp.uiy's dredge, mid contained 1 in ottr notes from l Clyde in our issues oi Tuesday and yesterday, are, we are informed by tile secretary, opeai to the possibility of slightly misleading shareholders. The board, as a matter cf fact, is a: present, negotiating for a new string of buckets, but nothing definite cn the subject can yet be aiuounced. The secretary of the Bignell's No Town Gold Dredging Company reports receipt of a wire from tho dredgcmi;sier ypstwday to the effect, that dredging was resumed on Wednesday night, when there was a heavy flood, but the wing dam was a success, The silt Iras not all been removed from the paddock yet. The dredgemaster intended washing up to-day. Tho master of the Moonlight dredge reports that operations were resumed -at 12 o'clock on Sunday night last. There was a good deal of silt in t-he paddock owing to th> flood, but no other damage was done. The Voltaic dredge was last w«k working very steadily up to Wednesday afternoon. It wis intended to shift the dredge on Tuesday with tho hopes of getting on to some gold, as a little wash was showing, although it contained very little gold. On Thursday the main, headline was run out, and some rivctting to buckets was effected and some strain joints mcde. On Saturday the dredge was shifted upstream to it more favourable spot, above tho bluegums, arid dredging started at i p.m. Tho ground was shallow on the east side of the cut, and was dipping under the bank on tho west side, and -wag very rough. Tho dredge waa on a pieco of ground that when bared was supposed to show 10ft of wash, and if such is tho casa the dredge would be on it early in tho present week. Tho actual time worked by the Electric No. 2 dredge last week was 92 hours, the distance workol ahead 20ft and the width of the cut 80ft, with the depth of the ground varying from ISft to 3Gft. On Thursday morning the dredge was shifted from the rivor, and tliTec shifts were devoted to dredging away a beach of old tailings, which would otherwise have become a hindrance to coaling, and on Friday the dredge was shifted back to the river. The gold was still of a coarse sample, the same as in tho previous week, but tho amount waa a good deal 1033 than was expected. The dredge appeared to be working round a shoulder of ft jutting clay point, and until the dredge gets clear of it, wliich will take about a month, it is expected that tlio returns will remain small, with good returns afterwards. A v.'iro received last evening Irom the secretary of the Monte Christo Gold Dredging Company stated that tho dredge had only botom-.-d tho previous night on hard reef, and had closed down, and ihnt a meeting of directors was to be held on Saturday.

A CLOTHIER'S CONVICTION. Mr F. Cohen, of Willis street, Wellington, is a busy business man, with no time to waste on letter-writing for fun. Ho tried Rheumo, and was' convinced. Mr Cohen soys:—"Last Friday I cspcricnced a very bad attack of rheumatic gout, in fact so bad that I had to leave business, and being unablo to walk I wae assisted to a cab. On arrival at homo I immediately took a dose of your Rheumo, repeating same every four hours. The pain soon loft, and in tho morning I camo down to business as usual. I cannot say too much for tho prompt and effectual manner in which your Rheumo acts on pain." Rheumo euros ©very time. Chomists and storo3, 2s 6d and 4s 6d per, bottle. Wholesale agents, N.Z. Drug Co.

DIWEDIK STOCK EXCHANGE. The market on 'Change yesterday was again very dull, and Ihe demand for the favourite stocks was somewhat easier than on the previous day. This was noticeable in Hartley and Jiilcys, First Chances, and Xew L'ourteeu-miio Benches, while holders of Electrics were prepared to accept a price much lower than that which has been ruling for the past few days, l:nt there tos no response whatever from buyers. The height of the river at Alexandra yesterday morning was. sft Bin above the normal mark, a rise of Sin since the previous day. A parcel of Electrics was placed on offer at 235, but there was no response from buyers, inquiry for First Chances was a shade easier, but on tho other .hand holders were slightly firmer. Some attention was accorded by buyers to Golden Beds, two parcels of which changed hands at 0s Gd, with a demand for more at a similar price, but closing sellers held for 10s. | Hartley and Rileys were much easier, buyers' best price being G3s, as against Gss .the previous day, while sellers were asking' 66s Cd, a price- tilso lower than the previous day's. A parcel of Lady Hoxburgh contributing shares was taken up at la dis, with .more on offer at a similar price without disclosing any further buyers. Slightly easier inquiry was made for Kiloy's Beaches arid Tiiso and Shiuc3, but in both cases sellers were firm at reccnt rates. Sales were mr.dc yesterday at the following prices:—Golden Bed, 9s Gd; lady Roxburgh (contributing), Is dis. The following are yesterday's latest quotations, subject to the usual brokerage:— Alexandra Lead—Sellers Ss. Bignell's-No Town—Buyers ISs 3d, sellers ISs Dd. Kleciric—Sellers £1 9s. Kttrick—Buyers Gs 9d, sellers 7s 6d. First Chance—Buyers 17s, sellers 19s. Gabriel—Sellers 10s. Golden Bed—Buyers 9s Gd, sellers 10s. Golden Run—Buyers .CI 12s, sellors £1 13s Gd. Hartley and Riley- -Buyers £3 3s, sellers £3 Gs Gd. Inchdale—Buyers 3s 6d. Junction Electric—Buvers 5s Cd, sellera Gs 3d. Lady Roxburgh (paid)— Sellers 17s. Lady Roxburgh (contrib.)—Sellers Is dis. New Alpine Consols—Buvora lis, sellors 12s Cd. Xev; Beudigo— Buyers lGs, sellors lCs 3d. New Fourteen-mile Beach—Buyers £1 Is, sellers XI 3s p. New Halfway House—Buyers 6s Gd, sellers 7s Gd. No Town No. 2—Buyers 63. OJrij;—Sellers Hs. Riley's Beach—Buyers 8s 3d, sellers 9s 9d. Rise and Shine—Buyers £1 2s Gd, sellers £1 4s, 3d. Sandy Point—Buyers £1 Is, sellers £1 2s. . Unity—Buyers 6s 3d, sellors 7s 3d. INVESTMENT ISTOOXS. Bank of New Zealand—Buyers £110s, National Insurance—Buyers £1 Is 6d, sellers £1 2s 3d. Westport Coal—Buyers £7. Perpetual Tustees—Sellers 17s. irosgiel Woollen—Buyers £i 16s Gd. New Zealand Drug (£2 paid)—Sollers £2 5s Gd. Wellington Woollen—Buyers £5 Is Gd, sellers £5 -is. GOLDEN GATE DREDGING COMPANY.

The annual general meeting Of shareholders in the Golden Gate Dredging Company was held , ill Wood's Ilotel last evening, and was Attended by eight shareholders, Mr B. Hart {chairman of directors) presiding. Tho Chairman, in moving the adoption of the directors' report (already published) ami balance sheet-, said he thought the report was very satisfactory. A satisfactory suni had been distributed in dividends during the year. ,Tho prospects for tho future were very good, as the company had a fair quantity of ground—ii was bank ground, certainly—which was expected to pay. he might say, liamlsomely, The present dredge was not expected to treat the ground, and the directors were at the present time in treaty for another machine. The dredgemaster expected, however, that the company might get 12 months' work ouc of the old dredge yet, so there was no necessity to hurry in the matter of purchasing a large dredge, which might cost a high price. The old dredge was in very good order, and handled by their experienced dredgemaster she was likely to return shareholders somo dividends yet. Since tho last annual meeting the river had ken very unsteady, and some of the returns had been somewhat small. Tho motion, on being seconded, was carried unanimously. Tho retiring directors (Messrs Hart and Borland) were ri-elected, and the retiring auditor (ATr L. E. Haines) was reappointed at a fee of four guineas.' A hearty vote of thanks v.-as accordcd the dredgemaster and crew for their services to the company, . A vote of thanks to the acting-secretary (Miss Burton) and a similar compliment to ihe chair brought the meeting to a close. I

NOTES FROM CLYDE, (From Our Own Correspondent.) .CLYDE, June 2. The Jlonto Christo dredge has been closcd clown for the lime boing. On inquiry I learn that fair prospects wore obtained during ilia list shift or two. The weather is extremely cold and stormy, and the snow has crept down to a low altitude on the mountains. The flow of drift in the river is enormous. The 3latr,u dredge lias been ciosiM down pending the purchase of a new string of buckets. The men have been paid off, with tho exception of a few kept on to execute repairs. NOTES FROM ROXBURGH. (From. Our Own Correspondent.) . ROXBURGH, Juno 2. Rain set in yesterday, afternoon, and it has been raining almost continuously ever since. Thera is plenty of snow on the high-lying country,. The Lady Roxburgh, dredge was shifted down tho river yesterday about three-quarters of a jnile nearer tho bottom of her claim. Tho Ettrick dredge was stoppedl for repairs, the river being too high to work. The King No. 1 dredge was stopped for a few days at the end of 'last week, and No. 2 lias been ahead to where there are patches of good gold, • The Golden Rim Company's trilmt-ers are trying to get their claim on easier terms.