MINING.

Otago Daily Times, Issue 13079, 15 September 1904, Page 9

MINING.

The manager of the Deep Stream hydraulic sluicing claim reports a return of 28oz 30dwt ior one week's sluicing. There was plenty ot water, and everything was running well,

The master of the Cromwell No. 2 dredge wired tho secretary yesterday that everything was working steadily, but the drift was still troublesome.

The New Roxburgh Jubilee dredge had another good run last week, and as far as the dredgt-roastor could Beo the ground was the same as m the previous week. All the. machinery was running well. The master of the New Fairdown dredge reports'tlmt ho had a fairly .steady run last week, part of the time being engaged in turnill!; the dredge. A face GO yards wide was being worked on, and tho prospects were improving, so that a fair return is expected fri;m the wash-up, which was expected to take place yesterday.

The Mount Ber.ger Mail states that the return from the Teviot dredge last week was •47oz.—The Pleasant Valley {Syndicate washed up lOoz'for three weeks' sluicing. Tlie directors of tlip Cromwell Go'.d Dredging Company has declared a dividend of 4s per share, payable on Monday, 2Cth inst.

The directors of the Enterprise Gold Dredging Company has declared a dividend (tlio 70th) of 2s per share, payable on the 21st inst.

The master nf the New Perseverance No. 1 dredge reports that he commenced woik on Sunday night last, but. the cranl; shaft, which was recently repaired, was not giving satisfaction. A new o:ie, however, wa3 in hand. The No. 2 dredge was running steadily lr.st week, and (lie dredgemaster expects to finish tho present cut this week.

Tlio distance worked ahead by the Rise and Shin 3 No. 1 dredge last week was 6ft, and the vidtli of t.ho cut 450 ft, with the depth varying up to and over 50ft. The ground wus very rcugh and full of boulders, with a soft bottom across towards the east- side, where the bottom was hard. Tho gold was better in the centra of the cut than in any otliei part, and the ground was still very deep in the west corner. The master of the Wnikaia dredge, writing on the 10th inst., stated that he shifted all ihe head lin;s on Monday, sth inst., and turned the dredge round and worked shallow through the river till the road was reached, when the lines wore again shifted and the dredge fumed up stream. The face ran from til-! ror.d line for a distance of 150 yards out into tho flat, but the river part had to be bottomed yet, and it v.vs expected that :1 wouid take nil this week to finish. Tho las! return ot 17oz was for three days' dredging on the bottom.

Owing to tho recent rise in the river the New Golden River Company's dredge has b';en compelled to stop work. The local director (Mr R, Ross, of Alexandra South), writing under date 10th inst, reported that he had just returned from visiting the claim, where he found that owing to the lccent rise in the river ("ft ip the gorge) it was found necessary to shut down, ns tlu drift was travelling very lad'.y. When tho dredge stopped it was on good gout and, although not bottoming tho fciound properly, obtained a return of 21oz\for two or three days' dredgii.g. The master of the Sailor's Bend dredg?, writing under date Monday, 12th inst., stated that up to the time the dredge was stopped he always got fair prospects when bottom was leeched. During the timo tlis dredge was cbtaining the 420z she was working under a disadvantage, as Ihe river was rising slowly each day and the drift was ahvayj getting heavier, while during the last two days of the week tho current was very strong. The master of the Junction Electric No. 1 riredge reports that the distance worked lest week was 21ft, ilio width and depth of the cut b'ing about the same as in the previous week. The prospects varied a good deal during the week, with tho drift running very bad in some parts of the cut. On Wednesday morning the friction burst, causing a stoppage of 14 hours ( to effect repairs. On Saturday morning the dredge was stopped again to run out new head lines and shift tlu one then in position from the Cromwell side of the river to the Richard's Ecach side, also the preventer lines. The diylqemaster. expected to have this work finished by Monday last and resume dredging the same evening. Tlio master of the No. a dredge reports that a few hours were lost last week through pins breaking and the buckets getting off the lower tumbler. The prospect 3 continued poor all the week, and the dredge was twice moved ahead a distance of 20ft in Ihe- hope of striking becter ground, but without success.

ihe masler oi the Dunstaii Lead dredge reports that, ho had a very fair run last week until Friday, when the top tumbler shifted, causing a stoppage. The ground seemed to keep about tho same as in tho previous week, but the drift was fairly heavy, and the result v.'as that the dredge did not get ovor more than two-thirds of the bottom that was treated in tlio. previous week. The ongincer was to have the engine finished on Monday evening, so that it was expected n start would bo made somo time on Tuesday morning. The actual time worked by the Electric No. 1 dredge last week was 130 hours,' the distance worked ahead loft, and 1 the width of tho cut Eoft, with the depth varying up to 34ft. The gold was fino in character, and about 40oz of it were won on Friday and Saturday, 2nd and 3rd inst., after the wash up for the week then ended. Tho drift was very troublesome during the week, and as it was difficult to save the fino gold when there was a heavy drift running, the dredgemaster worked loft of the cut, and when tho river became more settled on Friday, 9th inst., tho dredge was dropped back on to gocd ground, where it will continue working so as to meet the other face, a distanco of 3ft having been worked up to the close cf last week. The prospects were not so good as in the previous week, but they were expecotd to improve at any time. The beat of the go'.d was still making towards tho Cromwell side, whoro there was a beach, tho ground on which was as deep as in any part of the cut. As the rive: was'high it w;.s thought advisable to take the dredge in there and try it, as it could work there with safety when the river was very high. The weather was more settled last week, and the river was falling again. The actual lime worked by the Eicctric No. 2 dredge last week was 132 hours, the distance worked ahead 20ft, and tho width of the cut about 70ft, with tlie depth of the ground varying from 25ft to 35ft. The breakage of tho headline on Friday morning and the work of splicing and relaying same caused tho wash-up to be delayed till Saturday morning. The gold remained tho saint) coarso sample, and tho ground was very rough all the week. The prospects were fair and continued to remain so, being, if anything, slightly better on Saturday last. Our Nasebv correspondent writes:— Judgin" from the applications filed in the Warden's Court here mining in the vicinity of Hyde is not to bo allowed to go down. An area on which was sunk the old shaft behind Hyde township has again been applied for for goldmining, and a special claim for sheelite 'has been taken up. On the areas formerly held bj; a. Duncdin syndicate in the Highlay district- a good lode of sheelite has been struck, and theso areas liavo also 'been marked off. The Waitahuna correspondent of the Tuapcka Times writes as follows:—Three dredges are at work on the Havcloclc flat.— Owing to the heavy drainage through forkings into the river at the claim boundary the Imperial at present has considerable difficulty in keeping the water up. It, however, keeps pegging away, and the returns are satisfactory,—The Havelock has got a very wido face on and, everything being in gcod working is kept, steadily going. The returns ne good, and expected to continue so until tho claim is worked out. These two dredges mentioned have about four years' work ahead of them vet.—The Gordon, after a stoppage cf r.bout two _ months, is again at work, her buckets having been renewed and other repairs effected. They aro at the bottom of the claim, and oil tho turn io work up the flat good returns are expected further ahead. The company baa sufficient ground to keep it going for the next six years.

I>U.\T2DIX STOCK EXCHANGE. There was no noticeable change in the tone of tile share market yesterday, matters being again very quiet. The inquiry for stocks, however, was more general, hut in the majority of cases buyers were not prepared to give anything near the prices asked by sellers. Mnm;herikias alone received good buying attention, and, after somn fairly spirited bidding,, two transactions were brought off. Electrics and New Fourteeiwnilc Beaches commanded but moderate buying inquiry, while Hartleys received no notico whatever. The llolyneux . Rive-r showed a rise of lin yesterday morning es compared with the previous day, the height at Alexandra being 4ft oin above the normal mark. The weather was reported to be mild. Alexandra Leads came in for moderate notice yesterday, a buyer beins in evidence nt 4s, and a seller at ss. Alpine No. 2 6hart3 were again placed on the market at 203 without drawing inquiry, this also bcinsr the'case in. Dunstan Leads, holders of wiiiqh were asking 9s Gd. Holders of Electrics, who have been in evidence for some time without drawing any buyin? offers, found inquiry yesterday at 203, but as holders were asking 2)3 Oil the prices were 100 wide for business. Holders of Golden Rues showed a further vreokenia-, beiruj prepared to accept 21s Gd, with buyers continuing to offer 20a. Inquiry was made for Junction Electrics at 2s Gd. end for Lsdysmitli (contrib.) at 13 Gd p., but there weic no sellers of either of these ah'ares in evidence. Gqpd inouirv was again made for Manuliewkiiß. with the result that tvyo sales were brought off at 23s Cd. Further lots were sought after at » similaf

price, but closing holders were asking 25a, and no further business eventuated. Nelson Cieoks were placed on offer at 81s, as against 35a the previous day, but without drawing any inquiry. New Fourteen-mile Beaches were sought after, at 7s Od p. without drawing any response from holders.' New Roxburgh Jubilees commanded slightly better inquiry, with sellers a shade easier.- The market, however, was still a wide one. Rise and Shineß were a shade firmer,' buyers offering 18a 9d, and sellers asking 20s. Two sales were made yesterday at the followin" prices: —Manuherikias, 23s Gd. The following aro yesterday's latest quotations, subject to the usual brokerage:— Alexandra Lead—Buyers 4s, sellers Bs. Alpine Kb. 2—Sellers £1. Dunstan Lead—Sellers 9s Gd. Electric—Buyers il Gs, sellers £1 9.? Gd. , Golden Run—Buyers £1, sellers £1 Is Gd. Junction Electric—Buyers 2s Gd. Ladysmitb (contrib.)—Buyers Is Gd p. Manuherikia—Buyers £1 3s Gel, sellers £1 ss. Molyneux Kohinoor (paid)— Sellers ss. Nelson Creek—Sellers £1 14s. New Bendigo—Buyers 3d, sellers 2s. New Fourteen-mile Beach—Buyers 7s Gd p. New Roxburgh Jubilee (paid)— Buyers £114s, sellers £1 19s. Perseverance—Sellers £1 ss. Riley's Beach—Buyers Bs. Riso and Shiue—Buyers ISs 9d. sellers £1. Sailor's Bend—Buyers 63 Gd, sellers 7s Cd.

INVESTMENT STOCKS. National Bank—Buyers £1 15s Gd, sellers & 17s Gd. Westport Coal—Sellers £G 17s Gd. Commercial Property—Buyers 3s 9d. Mosgiel Woollen—Sellers £4 2s. , Otago Daily Times—Buyers £IG.

NOTES FROM CROMWELL. , IFbom Ouji Own Connp.si',-indent.) i CROMWELL, September 14. The weather is fine and the river is falling sightly, but the drift is' still troublesome. The Electric No. 1 dredge only worked half the width of the cut last week on account of the drift.

The Electric No. 2 dredge broke the second motion shaft tc-day, but will soon get it replaced again.

The Alpine Consols dredge is still delayed through the buckets, and will have trouble to f.ave them, as they arc silted up.

The Hartley and Riley dredge is slill on pocr ground, but will probably soon pick up rich wash again.

The Riley's Beach dredge is also on poor ground.

NO TOWN CREEK GOLD DREDGING COMPANY. TO TIIE EMTOR. Sin,—l was somewhat surprised this morning on reading your mining notes from the West Coast, bcrauso your correspondent states that "the No Town Gold Dredging Company has gone into voluntary liquidation." He has evidently made an error (not the first one), inasmuch as the company which decided 011 liquidation 011 the 12th inst. was the No Town No. 2 Gold Dredging Company, and not the No Town Creek Gold Dredging Company.—l am, etc., W. llolsted, Secretary No Town Creek, G.D. Company.