MINING.

Otago Daily Times, Issue 13077, 13 September 1904, Page 6

MINING.

liie secretory of tho Nelson Creek Cothpuny reports a> return of 17oz for lost week. Tha- dredge was greatly hampered with failings during the week, also with timber and floods.,

The secretary of the Enfield Co. reports a return of 230z sdwt for 133 hours' work. -I'ue dredgomastcr silted that the depth of tho, ground wag much, the s&nie as in tiie previous week. The Trash -was very rough in the north corner for about a chain, while there were nlso a number of very largo stones to contend with. The creek was in flood during the last two days of tho week, and in consequence the paddock was pretty well filled with silt. The manager of the Golden Crescent claim twntcs our \Vother3tone3 correspondent) got Iho racc clcar and the water in on the Till inst., when elevating was commenced. There is a splondid supply of water, so that as much dirt as was possible was being put through the boxe9.—Tho manager of the Local Industry claim expected to have the paddotk finished and the boxes washed down by to-day. The Happy Valley dredge was last week working osose to the road. THE WEEK'S DREDGING RETURNS. During tho week ended Monday, September 32, returns were reported from the following 54 dredges, the total yield being 16330z 12dwt 19gr, or an average of 30oz rer dredge:—

DUNEDIN, STOCK EXCHANGE. A much healthier tono pervaded the Exchange market yesterday tlnui was the case during the greater part oi last week, while the number of stocks to receive attention was also considerably larger. Two transactions were brought uif during the day—one ill the morning r.nd one in the afternoon. Electrics, Hartleys, and New Fcurteen-mile Beaches were placed on the maikct at varying rates without drawing inquiry, while Manuherikias iTSed considerably. About the only stock in which values do not vary according to tho general tone of the market is Xew Iloxburgh Jubilee, this being due, 110 doubt, to the not. only large but remarkablj' consistent returns being obtained' by this company's dredge. The Moiyneux River showed a fall of Sin yesterday morning sineo Saturday, the height at Alexandra being Ift Gin above the normal marl:. It remains to be seen, however, if the fall is only temporary, as was the ease on Thursday last, when the river showed n fall of 3in since tho previous day, and then rose Sin within the next two days.

Bignell,'? No Towns were placed on the market yesterday at .19s, and Duitstan Leads at 10s, but neither drew inquiry. Holders of Electrics were in evidence at 30s, as against 31s on Saturday last, but, as has been the case during the past three days, there were no buying offers forthcoming. Ettricks commanded inquiry at 5s Od, while Golden Beds came in for moderate notice, buyers offering 83 3d, and sellers asking 10s. Golden Runs were a shade firmer, whiic Hartley and Rileys were placed on offer at 59s C-J, as against GJs last week,, but without drawing any inquiry. Ladysmith contributing shares commanded fairly, good inquiry, and a. parcel changed hands at is 9d p., a price slightly under what sellers were asking 011 Saturday last. Further inquiry was made for these shares at Is Cd p., but closing holders were asking 2s p., and 110 further business resulted. Values in Manuherikias eased a good deal, and a transaction was recorded at the buyer's quotenamely, 22s Gd. Further buyers were in evidence at 235, and sellers at 23s Cd. An inquiry was made for Moiyneux Hydraulic shares at 2s ad, without result, while a parcel of Moiyneux Kohinoor paid shares was placed 011 the market at 5s without drawing any'buying offers, Mystery Flats being I on offer at 15s and Now Fourteen-mile Beaches at 12s p., with'the'sanip result. The demand for New Roxburgh Jubilee, paid shares showed a decided improvement, while holders underwent a. corresponding firming, the quotations being—buyers 33s Gd, sellers 40s. The inquiry for Rise and Shines was also better, with holders remaining finn. Sales were made yesterday at the following prices:—Ladysmith (contrib.), Is 3d p.; Manuherikia, 22s Gd. The following are vc-sterday's latest quotations, subject to the usual brokerage; — Bigceil's No Town—Sellers 19s. Dunstan Lead—Sellers 10s. Electric—Sellers £1 10s. Ettrick—Buyers 5s Cd. First Chance—Sellers 13s. Golden Bed—Buyers Ss 3d, sellers 10s. Golden Run—Buyers £1, sellers £1 2s Gd. Hartley and Riley—Sellers £2 19s Gd. Manuherikia—Buyers £1, sellers £1 3s Gd, Moiyneux Hydraulic—Buyers 2s 9d. Moiyneux Kohinoor (paid)— Sellers ss. Mystery Flat—Sellers 15s. New Fourteen-mile Bench—Sellers 12s p. New Halfway House—Buvers Is 9d, sellers 3s Gd. New Roxburgh Jubilee (paid)— Buyers £1 13s Gd, sellers £2. Rise and Shine—Buyers ISs 9d, sellers £1. Waimumu Queen—Sellers 6s. INVESTMENT STOCKS. . National Insuranco-Buycra 11 2s G3. "Westport Coal—Sellers £G 17s Gd. National Mortgage—Sellers £2 7s Gd. Mosgiel "Woollen—Buyers ft, sellers £1 2s. New Zealand Portland £1 Is.

INCH VALLEY GOLD DREDGING COMPANY. All adjourned extraordinary general meeting of shareholders in the Inch Valley Gold Dredging Company was hold yesterday- at tho company's office. The chairiwiu>of directors'i(Mr J. C. Short) presided, and nine other shareholders were present. The meeting was called for tho purpose of considering'a motion for tho voluntary liquidation of the, company. The Chairman said he deeply regretted to havo to comc before shareholders to state the present state of affairs with regard to the company. The directors had faith in the company for some considerable limo, and .their faith was evidenced by the fact of their having large interests and parting with very few, if. any, of their shares. The board had, from time to time, during tho put season in particular, paid visits to tho claim with a view to endeavouring to improve matters, hut, he regretted to say, the directors were able to accomplish nothing belter. Tho reason was that the ground had turned out poorer than they had hoped for. So far the claim had been worked to tho extent of about 40 acres, and there still remained a liko area of good agricultural land, which should realise a very fair price. The directors had come to the conclusion that it was in the interests of all concerned that the company should be wound up. He believed if the company went into liquidation now thero would be sufficient to pay everybody. The dredge was lying on tho claim, on a part which the directors were led to beleivo was the richest portion, but the experience of tho directors was to tho contrary, and to-day the company was faced With a liability of £331, whilo there was only £U 5s 7d in hand. Tho assets, however, should show a very good total. Tho motion to wind up \the company was carricd without dissent, and Mr A. J. C. Brown and Mr Short were appointed liquidators at a fee of £25.

XOTE-S FROM' REEFTON'. (Fnoir Our Own Correspondent.) REEFTON, September 12. The manager of the Xtw Scotia Company reports that the reef in the drive south has averaged for the last lGft from 15in to 2ffc wide, showing cold very freely. Sixteen tons: of quartz were raised during the week. The total length of the reel, measuring on the floor of t-ho drive from the north end of the reef, including the winze to the soutli face, is 7Gft. The manager of the Ulster Co. stale that since last report the crosscut has been extended 20ft. For the last sft or 6ft the ground has been extremely hard, but he expccts to get through in a shift or two. Operations are about to he resumed on the Kinvan's Reward mine, Victoria Range, the snow having now sufficiently melted. The Bitj River Company's return is 16Doz of retorted gold from 163 tons of stone. An Auckland telegram states that during August the Ivow Zealand Crown Mines (Limited) crushed 2261 tons of stono for bullion valued at £2321.

Oz. dv;t, gr. Now Roxburgh. Jubilee, Rox11 0 Cromwell. No. 1, Cromwell, week 105 14 7 Electric No. 2, Cromwell, 7days 100 0 Electric No. 1, Cromwell, G n Sandy Point, Alexandra, 131hrs i 13 1 12' Dunslan Lead, Alexandra, week '. 17 17 0 Sneddon's Freehold, Waikaka, 15 ' 0 0 Sailor'9 Bend, below Alexandra, 12 15 0 19 2 p Rise and Shine No. 1, Upper Clutha, 4 davs ,' 10 2 0 Rising Sim, Up. Chitha, llGhrs J Nov; Persevcranco No. 2, Alex16 0 0 15 0 0 Marmherikia, Alexandra, 122hrs I 13 0 Royal Wairaumu, near Mataura, 127hrs ; a 0 o - ll0 0 JS IG o ocner Wcinon. Ur.iTinn. 13(mTa c !8 10 0 Otago No." 1, Miller's Flat, week !! !3 10 0 Majestic, Miller's Plat, 120brs.. ! >8 0 0 Junction Eiectric No. 1, Cromwell .. .. < Earnscleugh No. 1, Alexann 4 0 >G 10 0 Waikaka Syndicate, Waikaka, 26 0 o Waikaka United No. 1, 133hrs .. ! !4 1 0 Waimumn, near Mataura, llShrs ! 24 1 0 First Chance, below Alexandra.. ; 11 0 0 Garden Gully, Waikaka, 120hrs ! B 12 0 Wsikah,! United No. 2, Waikaka, ■12Shis • B 8 0 lii.'i «Mt*n^^^1^g S 5 0 Junction Electric No. 2, Cromwell ( Waikaka. Queen, Waikaka, 1231ns '. 22 9 0 0 Enterprise No. 1, Alexandra, 13Chrs < 10 8 "5 Central Charlton, ur Gore, 133hrs I »1 10 o Ettrick, Roxburgh. 13Skrs .. .. ' < '1 10 0 Molynenx Hydraulic, Alexandra, 135hrs .. .'; .. ... ; 21 jo Waikaka, Waikaka, I22hrs .. ... . I 20 . 9 0 Enterprise No. 2, Alexandra, 129ars 20 o 0 Waimnmu Queen, nr Mataura 130brs Island Block, Beaumont, 130brs 3 19, 14 19 B 0 0 Hartley and Bilev, Cromwell, 12Ghrs .. .. '.. 10 o o Happy Valfcy; Tuapcka Flat, wk : Junction Waikaka, Waikaka. 18 15 0 13Gkrs , ■ 18 „ o Wcikaia, Waikaia, wsek .. .'.' j 17 0 o Alpine No. 2, Cromwell, week .. i IG 18 15 Gahriel No. 1, Tnapeka Flat .. ] 1G 8 o New Golden Beach, Alexandra, l27hrs IG g o Olrig, Manuherikia, 1271ns .. ] HacCharlton, nr Gore, 104Iirs .. : 9 0 15 ' i o Hessev's, Waikaia. .... i 13 17 0 New Fairdown, Waikaia, week.. : 13 10 0 Incbdale, nr Pahnerston, I33hrs ] L2 o Lady Roxburgh, Roxburgh, week ] Clyde, Alexandra, 70hra .. .. ] 12 .1 0 0 0 0 Otago No. 2, Island Block, wk : 11 O 0 Molyncux Kohinoor, Roxburgh, „ 11 IS 13 12 19 The West Coast. Bignell's No Town, 12-lhrs... .. ~ 19 0 0 Stony and Mosquito Leads, week E It 8 0 No 'i'own Creek, 124hrs .... '. S 0 0 Three-mile (Greenstone Creek), llShrs ' Callaghan's Creek, 130lus .. ... '. f. 12 8 0 0 Blackwatcr River, lODbrs „ ., 1 ?5 5 0 Moonlight, 1121vrs ' 22 12 0 jXew Woodstock, 5 days .. .. '. !2 0 0 5 4 0 17 10 0 .7 0 0 Mokoia, about 5 days ] 14 12 p Welcome, lOOhrs ] 11 15 0 Reeves's Proprietary No. 1, llOhrs ] .1 3 0 Reeves's Proprietary No. 2, lOlkrs ... ] Tolal 1] 10 G 15 0 0