MINING.

Otago Daily Times, Issue 13180, 13 January 1905, Page 6

MINING.

/lie Lady Annie dredge started work on Wednesday afternoon, . all the machinery tunning well. The 'Enterprise No. 2 dredge is still under , repair, but it is expected tliat dredging will be resumed in about a week's 'time. Masterton dredge started operations a.t 3 o'clock on Wednesday afternoon. The New Roxburgh Jubilee drcdgemister reports tlmt since.resuming.dredging on Sun-'"' day. at midnight everything has been running* • lvell. ... _ ~ Tho directors of the New Alpine .Consols . / Company are entering into a eontract for the . jrurphaso, of/a iset of new buckets. As soon

• made-tbfplace the buokets in position, a work will occiipy about a month's time.

During the weekended Saturday, 7th inat., /the -iributora of the ilolyncuE Kohinoor Comjjany's dredgo washed up for a return ot 240z Ikhrt 15gr. The arrangement between the company and the tributers is that the first 12oz of. eaoh Ireturii ore to be retained, by-the Iribnters for working expenses, and any gold in excess- of the 12oz is to be divided equally between the tnbuters and the company." The dredge is to be worked on tribute for about another two and a-h»lf months."'

. The New Hah'way House, dredgeinasler, reporting under date 7th inst., stated that he 'wis nnnble to get the crew together before Thursday, sth inst., a start being made that morning. Fair progress was made, and the dredge was got safely over- the rip when' the lines broke. At the time of writing the dredge was at the beginning of another rip, •und wheu this'is got over there will not be much difficulty in getting he dredge on to the claim. If all went well the dredgemaster expected to havo-the dredge on the desired spot by tho end of -this week, The of the No' Town Creek Company advises us that the dredgemaster has taken, possession of the Mo Town No, 2 Gold Dredging Company's dredge and claim, the purchase of which has been completed by the .pajiig over of the purchase money, Tho tilredga will commence operations as soon, as certain necessary alterations and improvements are f completed. Tho cost o[ the dredge and claim, we understand, amounts to £2000, of /which £1105 hax been paid in cash, while the remaining £900 is to be paid out of dividends resulting item tho working of tha No Town .No./J dredge. DUNEDIN STOCK EXCHANGE. 1 The share market was very firm- in tone yes.tfrday, and holders were in slightly batter evidence than was the case on the previous day. The first transaction in a mining Btock since /the reopening of the exchange this year was brought off at the morning sitting,, but the stock touched on was a rather low priced one. /There are, however, one or two other stocks for .which inquiry :has been steadily improving Kif late, and l in which a transaction should bo ■ recorded before very long. Such is the case with regard to Bignell's No Towns, Electrics, and Rise and Shines, more especially the latter. Investment, stocks did not receive a great deal of attention. The Molyncux River underwent rise ot lilt since the previous day, the height above normal mark at Alexandra being Bft tin, with the weather mild. Bignell's No Towns commanded still further improved inquiry yesterday at 38s Gd, but holders were not prepared to accept a price lower than 20s. Electrics also came in for belter inquiry, the price offered being 31s, but holders remained firm at 335. GoUlen Rues were again placid on tho market at 21s Oil, without drawing inquiry, and Junction Elcctric.i were sought alter at 2s without re?ult. Majesties came under moderate notice, buyers offering 3s, and holders asking 3s 9d. Tile inquiry for ilystory Flats was a shade better, but on the oilier hand holders were slightly easier, the quoi-;.? being—buyers 21s, sellers 255. New Alpine Consols showed no alteration, while an inquiry was made for New Bendigoes at. 5s 9d without result. No Town Creeks wero firmer, buyers offering 15s, and holders asking 20s. A buyer of Rise and Shines was aga.in in evidence at 'its Gd, and ft seller disclosed: himself at 26s Gd, luit the quotes wore inclined to be tco wide for business. Rising Suns wore sought after at 20s Gd, and Sandy Points at 17s, but no sellers responded in either case. Unitys commanded slightly better liotioc, and a parcel changed hands at 2s 10Sd, with additional buyers at the close at 2s Gd, and sellers at 3s 3d. A sale was made yesterday as follows;— Unity, 2s 10{d. The following are yesterday's latest quotations, subject to the usual brokerage \BigneH's No-Town—Buyers 18s Gd, sellers £1. Central Charlton—Buyers 5)3 Gd. Electric—Bnvors fl Us, sellers £1 13s. Golden Run—Sellers £1 Is Gd. Junction Electric—Buyers 2s. Lady Roxburgh (paid)— Buyers 7s 6d, sellerß 9s. Majestic—Buyers 3s, sellers 3s 9d. Mystery Flat—Buyers £1 Is, sellers £1 ss. New Alpine Consols—Buyers Ss Gd, sellers 9s ' 3d. . New Bendigo—Buyers as 9d. New Fourteen-mile Beach—Euyera 113 p. No Town Creek—Buyers lGs, sellers £1. Rise and Shine—Buyers £1 4s Gd, sellers £1 Gs 6d. Rising Sun—Buyers £1 0s Gd. . Sandy Point—Buyers 17s. Unity—Buyers 2s Gd, sellers 3s 3d. Mixing. Big Hover—Sellers is Gd. INVESTMENT STOCKS. National Bank—Buyers £-1 lus Gd. Bank of New Zealand—Seliers £5 13s. National Insurance—Sellers £1 4s. Standard Insurance—Sellers 19s. National Mortgage—Buyers £2 9s Gd, sollors £2 lis. FIRST CHANCE DREDGING COMPANY. TO THE XniTOE. Sis,—l should like to ask the shareholders in the above company are tliev asleep or are they unaware of the fact that the above company is only going to -lose another season. Last year she-has lost her buckets dredging wit'n/lMn pins. Then the Rivc-r .Molynetix dredge was liCTght, the buchcts only having ljiu pins. Naturally when dredging started again -these went into tho river also, but fortunately they were recovered. I believe-the directors went against, the dredgemjsler in getting these buckets, and why not give a- man-a say when lie has proved himself a capable and competent person? 1 While the river is high why jnot have the dredge made stronger? Got ljin pins, stronger buckets, etc., so that she can contend with the rough claim instead of being loft a toy. If the directors think this is good enough to dredge the small balance of the claim they are making a big mistake, as: the smtill piece will never be finished with IJin pins; whereas, if the dredge was made stronger, I am sure it to dredge the claim over again. Trusting shareholders wilt take '•his matter up, and the dredgemaster will have the say he should have.—l am, etc.. Oxs Who Knows.