MINING.

Otago Daily Times, Issue 12995, 9 June 1904, Page 9

MINING.

3li S. E. Brent, secretary of the Last Chaace Hydraulic Sluicing, Elevating, and Dredging Company, reports ;i return oi Wos lor 14 (lays' sluicing. The ircino manager reports that lio is still sluicing, ami the prospects are improving. The master o: the Golden Run dredge reports a midweek wash-up of 4202 17chvt for 63 hours. Tiio Rising Sun dredge, wluch has been under repair since Saturday week, was. expected to resuiuo work yesterday. Tho BiackwsUer River dredge, which has been undergoing an overhaul for ihe past two weeks, resumed opeiations on Tuesday night, The secretary of the Hartley mid lUiey J old Dredging Company received a wire from the drertgoiriiister yesterday to the eifect that the crossbar of the hangers broke on Holiday morning last, and the dredge, was not working sinco them. It was expected, however, to make a start yesterday afternoon. The secretary of the Cromwell Gold Dredging Company received a wire from the master of the jfo. 1 dredge yesterday to the effect that the dredge was working fairly steadily and the prospects were fair. The master of the Xo. 2 dredge wired that tho dredge was working steadily, but the ground was very rough. Jir Thomas Hogg and a party of dreugemen have taken tho Grand Junction dredge on tribute, and liavo shifted her up between tho junction of the and the Victoria Bridge. Tho foijowing items are from tho Cromivoll Argus:—The Voltaic has not been working lately owing to the breaking of the top tumbler and some part of the winches going wrong.— When the Golden Reserve gets to work, which will bo shortly, that part of tho Clutha above Lowburn will receive a thorough test.—Tho itiley's Beach dredge will most likely start dredging in a few days. Tlio company took tho dredge over from the contractors last Thursday. _ The master of the Dunstan Lead dredge, in his report for la3t .weal:, stated that the dredge was shifted up to whero he left off in Mnrch, j903, and ho expected to get better returns when he made a start there than the dredge hss been getting lately. Tho row bottom tumbler, which arrived by the s.s. Waimate, wits forwarded to the dredge on Saturday last. The Lady Roxburgh dredge was shifted down the river on Wednesday of last week, and dredging was resumed that night. Tho dredge was working steadily nud was opening out, and bottomed on Thursday night. The wash was fairly tight, and it exyccted to take a day or two before getting properly opened out. Owing to the swiftness of the current an extra headline had to bo run out on Saturday iast. The master of tho Island Block dredge, in his report for last week, stated that four shifts wore lost in the early part of the week owing to the collapse of the lower tumbler bush, lleporting on the operations carried on at tho sluicing claim last week he stated that tho paddock was finished on Wednesday, and the boxes washed up on Thursday. Since then the work of stripping for another paddock has been in progress. The paddock now being taken up is still on the lin-j of the lead, and should yield proportionately to tho ono just completed. Heavy rains fell last week, and the flat was in a flooded stale, and considerable trouble was experienced in preventing tho paddock from getting flooded. The Junction Electric Xo. 1 dredge was working steadily during tho best part of last wrck, except on Friday and Saturday, when a stoppage of 13 hours had to be made to take off and repair a number of damaged buckets. The ground was very rough on the Cromwell sido of the cut, and was very severe on tho buckets, tlie lips being torn off as many as five buckets,.while others ware also damaged. The master of the -\*o. '2 dredge reports that lie was occupied all last week in lipping buckets, which were completed by Saturday. Dredging was commenced on Monday morning, nud everything war. working well. Tho master of the Eise and Shino No. 1 dTcdge, in 1»3 report for last week, stated that the distance worked ahead was 10ft, and the width of tho cut 400 ft, with the depth of the ground varying up to 43ft. Tho prospects wero much the same as in the previous week, and there was very little change in tho wash, although the gold was of a much finer sample. 'The distance worked ahead by the No. 2 dredgo wits 15ft, tho width of the cut 130 ft, with the depth of the ground varying from 3Sft to 44ft. The ground was about the same as in the previous week, and a little fine gold was making towards tho end of tho island, with the indications improving. Tho secretary received a wire from the dredgemaster yesterday to the effect that the ground was improving, and ho expected better returns shortly, The directors of the Cromwell Gold Dredging Company have declared a dividend (the eighteenth) oi l's Gd per share, payable on Wednesday, 15!h inst. A sum of £500 was added to the reserve, which now stands p.t £150.). The n: aster of ihe Electric No. 1 dredge reports that the dredge was undsr repair all last week, and tho dredgemnster expected to havo everything in readiness to start to-day. The weather was very unsettled and stormy last week, tho river being above the normal level. The master of the Ko. 2 dredgo in his ropovt for last week slated thai tho return was much

poorer than what he expected it to be, as tho gold was a. coarso sample, and mado a bettor show on the mats than it eventually turned out to he. The dredge was still working oil the slope of tho submerged point-, or bluff of clay, and the grou&d was very rough and lull of big stones, and was getting a little deeper towards tho centre of the river, the depth averaging from 18ft to close 011 40ft. During tho week tho dredge worked ahead a distance of 18ft, the width of the cut being about 80ft. A progress report issued by the Mount Lyell Mining and Kailway Company for the week ended Hay 23 states that .the main stope in. tlw 100 ft level and tho " Q," "C," and -So. 7 slopes in the GOOft level were producing fail' glade ore. The "B," "I>," No. 6, No. S, and main stopes in the 300 ft level, and the main stope3 in tho 400 ft and 500 ft levels were also producing fair grade ore. The account of surface work states that at the North Lyell and Eastern ojeu cuts overburden was being bicken and removed, and: 1. little ore was being won and despatched, and in the south, open cut overburden was being removed and ore broken for tho smelters, and the usual quantity despatched. Both the smelter and converter plants at the reduction works were in • operation. During the current half-year 1303 tons of blister copper have been consigned.

DUNEDIN STOCK EXCHANGE. Dealings on 'Change yesterday were rather limited, and tlie market throughout displayed a somowkat dull tone. A decline in values took place in Hartley. and Riley shares, 110 doubt owing to tlic announcement that the dredge bad been stopped sinro Monday, last, bwS it was,, expected to get,, startedl again yesterday. 'Slightly 'better inquiry was made for New Fourteen-mile Bcach shares, but, on the other hand, sellers wero easier. There wa3 no alteration in the height of the Molyneux Hirer yesterday morning, it being still sft Sill above the normal mark at Alexandra. Bigncll's No Town shares commanded better inquiry, !but dlthougii the margin between buyers' and sellers' prices was extremely clo-,0, 110 business resulted. The demand for Electrics was easier, but sellers leniained firm, the. quotations being: Buyers 255" Od, sellers Ms. First, Chances were a sliado 'easier, buyers offering lGs 9d, and sellers closing at ISs. Values in Hartley and Rileys showed a weakening tendency at the morning sitting, with ?, further lowering in- valu?.* at the afternoon sitting, when the stoppage of Hid dredge was announced. A sale was brought off in 'tho morning at 50s, with 'further buyers at 535, and sellers at 563; but ill the afternoon holders were prepared to accent 50s Od, with buyers' test offer at 01s Cd. A ]j?<rcol of Junction Electric shares chaugcd, hand 3 at Gs, with moro procurable at, a similar price, but no mere buyers were in evidence. Now Bendigoes wero again accorcfed buying attsntion, a transaction t«kiisg placo at 17s 3d, v.itli further buyers at 17s and sellers at 17s Cd. A sale took placo in Kise and Shines at 23s Gd, and more shares were placed on offer p.t'tho closo ai 24s 3d, but there wero uo more buyers at a price sbovo 21s. Sales were made yesterday at lie following prices:—Hartley and ltiley, 5Gs; Junction Electric, Gs; .New Bemligo, 17s 3cii; Bise and Shine, 23s 6;i. Tho following a.va yesterday's latest quota-, tions, subject to the usual brokerage: — Alexandra Lead—Sellers 7s Gd. Alpiuo No. 2—Buyers Ss, sellers £1 lis, Bignell's No -Town—Buyers I,Bs 3d, sellers 19s. Central Charlton—Buyers 9s. Charlton Creek—Buyers 5s 3d. Electric—Buyers £1 5s Gd, sellers £1 9s. Ettrick —Buyers Gs Gd, sellers 7s Gd. First Chance—Buyers lGs 9d, sellers 18s. Golden Bed—Buyc-ra os, sellers 9s Gd. Golden Run—Solers X'l lis Ot'i. Hessey's—Buyers £1 Is, sellers £1 3s Gd. Happy Valley—Buyers 2s, sellers 43. Hartley and ltiley—Buyers £2 14s Gd, sellers £2 lGs Gd. Lady Roxburgh (coatrib.) —Sellers Is dis. Mosquito—Buyers 9s 9d, solids 12s frl New Bendigo—Buyers 17s, sellers 17s Gd. New Beach—Buyers £1 4s, sellers £1 G3 6d p. New Golden River—Sellers Is p. New Halfway House—Buyers Gs 93, seta Bs. New Roxburgh Jubike (paid)— Sellers £1 9s. Nev; Roxburgh Jubilee (coatrib.)—Buyers 8s PNo Town No. 2—Buyers 7s. Riso and Shine—Buyers £1 Is, sollers £1 4s , 3d. Ssndy Point—Buyers £1 2s, sellers £1 3s, INVESTMENT STOCKS. Bank of Now Zealand—Buyers £4 lis. New Zealand Shipping—Sellers £G 15s. Vestport Coal—Buyers ±7, soHm £7 2s. National Mortgage—Buyers £2 O3 sellers £2 9s Gd. ' Perpetual Trustees.(ex div.)— Buyers 15s Gd. Mosgiel Woollen—Buyers £3, lGs Gd. Taipo Explosiva (" B " issue)— Sellers £13.