MINING.

Otago Daily Times, Issue 13207, 14 February 1905, Page 6

MINING.

The Electric No. 1 dredge resumed operations at 1 p.m. yesterday^ The Buield diedgetnaster vcporte having washed up for a return of Boz ISdwt for 125 liouig , work. The ground was much about the same as in the previous week. A flood on Tnesday washed away the dam, and a good deal of trouble was experienced in.making it up again. There was only enough water to float the diedge on the north side of the cut . . The Junction Waikaka Gold Dredging Comp»ny, which was registered in October of 1000 with a capital of £7000, of which £5100 has .been subscribed, only commenced operations ><jn June of last year, and since that date up [to December 31 last succeeded in winning a total of 4020z 18dwt 17gr of gold, of a value of £1551 G3. The expenditure during last year was £3748 12s 6d, and since registration £7786 15s 3d. On December 31 last there was cash at the bankers to the amount of £229 13s lid, i-whilo there were debts to the extent of £1500. The Etvrnscleugh Gold Dredging Company's itwo dredges were again exceedingly successful in their operations last year. Their total output for the year stands at 39370z 12thct 3gr, which is about GOOoz short of the previous year's total. The value of this output was £15,162 fe M, and as the expenditure amounted to £11,673 Is, a very satisfactory anronnt remained for the payment of dividends, the sum distributed in this manner being £4950, which, on a capital of £11,000, is at tho rate of 45 per cent., or equal to 9s per share, He total amount paid out in dividtends up to December last stands at £17,325, from which it will be seen that original shareholders have been fortunate in receiving a good sum as a return for their investment. The gold output since registration in 1901 stands at 14,23G0z Cdwt lCgr, of a value of £55,050 0s sd; while the expenditure during the same period was £37,083 13s 4d. On December 31 kst there was cash at the bankers amounting to £1780 16s 3d, as against which there were debts totalling £1393 10s 7d. At a meeting of the debenture-holders in the New Fairdown Gold Dredging Company, held last evening for the purpose of discussing the position of the company, it was deckted to put the dredge up for sale by auction. Acting under instructions from the liquidaor, 111 J. C. Arbuckle offered for sale at Lawrence yesterday the New Paul's Beach steam dredge as she now lies moored on the Molyneux River, , about three miles below the Beaumont. The concern was purchased by Mt Wm. Adams, of Dunedin. It is the intention of Mi Adams to utilise his purchase for prospecting a claim which ho acquired for me Golden GTavel dredge, owing to its proximity to the claim referred to. Considerable, expense will, therefore, be saved, as the Gravel dredge will not. be moved to where she was intended for until the claim has been properly proved, which Mr Adams has good hopes of doing. The Paul's Beach dredge will subsequently be moved to anothoT claim of the payableness of which J& Adams is also very sanguine. The operations of the Waimumu Gold Dredging Company during tho 12 months ended 1 December 31 last were "not of a satisactory nature, inasmuch as the expenditure though comparatively small, was in excess of the value of the gold produced. Consequently the company was not in a position to pay any dividends. During the early part of the year a great deal of trouble was experienced with the winches of the dTedge, thus causing a. good many stoppages. Everything is, however, now in good order, and the. r£ turns have recently boon showing a. considerable improvement, thus giving promise of the corning year's operations being of a more profitable nature. The gold output for last year wns G34oz 3dwt, which is about 400oz short of the previous year's yield. The value of thisgold was £2369 12s sd, and the expenditure in connection with, its output £2GSS 4s. Since registration iu November, 1897, the dredge has been successful in winning a total of 55(noz 3dwt, of a, value of £21,755 3a 2d. The expenditure during the same period wae £24,592 Ss 3d, and the dividends declared £3237 10s, which, on a canital of £7000, is at the rate of about 9s per share. On December 31 last there was cash at the bunkers amounting to £98 14s sd, as against which there were debts totalling £246 19s Bd. THE WEEK'S DREDGING- RETURNS. During tho week onded Monday, February 13, returns were reported from the following 50 t dredges, the total yield being 13790z s<twt 23gr, or an average of 2Soz per dredge:— oz. dwt. gr. Golden Treasure, Miller's Flat, 133ihr3 98 0 0 Masterton, Waikaia, 133 his „ 81 S 0 Lady Annie, Waikaia, 135hrs .. GO 13 0 Sandy Point, Alexandra, HOhrs.. 53 0 0 Mystery Flat. Waikata. 135hrs .. 4G 10 0 Molyneux Kohiuoor, Roxburgh, week 45 H o Rise and Shine No. 2, Upper Clutha, ]21hrs 44 7 0 Rising Sun, Upper Clutha, 126hrs 43 5 0 Junction Electric No. 2,-Crom-well, 75hTS 42 0 0 Rise and Shine No. 1, Upper Clutha, week 41 1 0 ■New Perseverance No. 1, Alexandra, lOOhrs 40 8 0 Waiknka United No. 1, Waikaka, 129hrs 38 17 0 Golden Bed, Miller's Flat, 130hrs 38 13 0 Waimumu, nr Mataura, 114hrs '37 9 0 Paterson's Freehold No. 1, Waikaka, 10 days 36 0 0 Waikaia, Waikaia, 137hrs .. ~ 2G 14 0 Enterprise No. 2, Alexandra, wk 25 17 18 Taniwha,, Tuapeka River, week.. 24 11 0 Royal Waimumu, near Mataura, lOShrs 24 8 0 Lftdy Hosbnrgh, Roxburgh .. 21 0 0 Otago No. 2, Island Block, 139hrs 22 10 0 Upper Waipori, Waipori, 139hrs 21 1G 0 Otngo No. 1, Miller's Flat, 139hrs 21 10 0 Hessey'o, Waikaia, 131 his ~ 21 0 12 Muddy Creek, Waikaia, 1331 m.. 21 0 0 Nugent Wood, Watkaia,' week .. 21 0 0 Punt, Upper Ciutha, 125hrs ~ 21 0 0 Waikaka, Waikaka, 131brs .... 20 1G 12 Garden Gully, AYaikaka, 130hrs 20 15 0 Olrig, Manuherikia, 12Ghrs .... 19 12 0 Golden Gate, Miller's Flat, week 38 R 0 Waikaka Queen, Waikaka, 112hrs 17 1C 0 Sheddon's Freehold, Waikaka, wk 17 14 0 Central Charlton, near Gore, 125hrs 17.14 0 MacCliarllon, near Gore, 130hrs . 1G 15 0 Ngapara No. 3, Nevis River, ISOhrs 1C 10 0 New Golden Beach, Alexandra, 1181ns 1C - 2 0 Loch Lomond, Fraser River, wk 1G 0 0 Paterson's Freehold No. 2, Waikaka, 132hrs ]G 0 0 Inehdale, nr Palmerston. 137lvrs 14 14 0 Gabriel No. 1, Tuapoka Flat, wk 14 10 0 Charlton Creek, nr Gore, 4 days 13 15 0 Molyncux Hydraulic, Alexandra, week .. .. 13 10 12 Waikaka Syndicate, Waikaka, wit 13 6- 0 Enterprise No. 1, Alexandra, 102hrs 13 1 15 Dunstan Lead. Alexandra, odys 13 0 0 Jlatau, Clyde, 4 days .. .. 12 8 0 ' Junction Waikaka, Waikaka, 129hrs 11 14 0 Ettrick, Roxburgh, 153hrs .. 10 15 0 Enfield, Waipori, 123hrs .... 8 18 0 Total _.. .. ]379 5 23 The West Coast. New Feddersen, 127hrs GO 0.0 Pactolus No. 2, 124hrs ~ ~ 55 11 0 Blackwator River, 120hrs ..... 48 0 0 No Town Creek, 12Ghrs 37 0 0 Callaghan's Creek, 130hrs .... 33 10 0 Bigucll's No Town, 130hrs .. ~ 31 3 0. Reeves' Proprietary No. 1, UOiirs .. .. 23 0 0 Nelson Creok, 132hrs 24 0 0 Three-mile (Greenstone Creok), 93hra .. 22 7 0 Mokoia, week 20 11 0 North Beach, 121hrs 18 0 0 Totara Flat, week ......... 16 11 0 Al, 124hrs 1G 10 0 Pactolus No. 1, 12Ghrs 15 0 0 Moonlight, 118hrs 13 10 0 New Kohiuoor 13 10 0 Beeves' Proprietary No. 2, lOohrs 13 10 0 Aldinga, UGhrs 12 0 0 Blackwater Lagoons, week .. ~: ll 10 0 ' Total 490 3 0 . DUNEDIN' STOCK EXCHANGE. Yesterday, the opening day of the week, brought 110 change in the tone of the share market. Few quotes were again forthcoming, and business was at a standstill. In one or two stocks, however, values showed a tendency to harden, though the quotes were inclined to be wide. The stocks referred to were Golden Treasure and Rise and Shine. Otherwise values remained almost unaltered, The river height yesterday morning was Bft 2jn above the normal mark at Alexandra, which indicated a fall of sin since Saturday, or ljft since Monday of last week. Tho river, though steadily falling, is as yet too high for the gorgo dredges to make a start, and is also to a. slight extent hampering the operations of some of the other dredges which are working. The total of the returns for last week is just about tho same as that for the previous week. The Golden Treasure,. Masterton, Lady Annie, and Sandy Point head the list in the order named, while the Mystery Flat, Eiso and Shine Nos. 1 and 2, SMolyneux Kohiuoor, and a-few others all have good yields to their .credit. . _ ' Bignell's No Towns were procurable yesterday at 18s 6d, but drew no inquiry. Dunstan Leads were in request at Csj but holders wero not prepared to accept a. price lower than 7s Gd. Electrics were Bought after at 31s Gd without result. Golden Treasures command improved inquiry at 7os, but holders continue firm at 80s. Junction Electrics were quoted at Saturday's rata, as also-were Mystery Flats. Now Roxburgh Jubilees were placed on offer at 28a, and Pactohis at 31s, but neither drew inquiry. Rise and Shines were again iu request at 555, but. holders were asking as high. as. 30s. , ..' r -'_ ■ . The following are yesterday's latest quotations, subject to the usual,brokerage:— '. Bignell's No Town—Sellers 183 Gd.;. Duiistan Lead—Buyers 6s, sellers 7a-6d. Eleptcifrrß.uyers.fl Us,W, .:.,,;- .\-., ,

First Chance—Sellers 16s. Golden Treasure—Buyers £3 15s, sellere £4. Junction Electric—Buyers 33 6d, sellers <9 3d. Ladyemitb (contrib.)—Sellers 3s 3d p. ' Mystery Flat-Buyers £1 Is, sellers £1 ss. New Roxburgh Jubilee (paid)— Sellers £1 Bs. Pactolus—Sellers £1 11s. Rise and £1 ss, sellers £X los. "Wa-ikaka Queen—Sellers 7s 6d. Mixing. , -, Big River—Buyers Ba. INVESTMENT STOCKS. National Bank-Buyers £i 19s. Bank of New Zealand—Buyers £o 12s, sellers £6. Standard Insurance—Buyers 15a 7Jd. Godwatd'g Pin—Sellers 3s. COUNCIL OF CHTJECHES. m Tho quarterly meeting of tho Council ot Churches was held in First Church Hall last night, tho president (the Rev. R. Mackie) in the chair. There were about 30 other. members present. A number of apologies for non-attendance was received. The meeting was opened with prayer by Major Cummhig, of the Salvation Army. Tho President extended a hearty welcome to the representatives of the Young Mod's Christian Association and tho representatives of the Sisters working in the churches represented by the council. Tho Hon. Secretary (the Rev. Mr Heighway) read correspondence from the Kev. T. Law, of England, with reference to tho application for an evangelist from Home.— On the motion ot Mr Driver, seconded by Mr Phillips, it was decided-" That tiw council expresses its appreciation of the prospect of an «irly visit from the K-ov. ]?. B. Meyer, president of the National Council of the Evangelical Free Churches, assures him of fife warmest welcome to this city and colony, and* hopes that the organising secretary (the Rev. Thomas Law) may find it possible to accompany him."—lt was resolved that as Mr R. Chisliolm is about to proceed to the Old Country ho should be authorised to represent the council at any meetings of tho Kvangelical Free Churches Council during his visit.—Mr Chisholm expressed his willingness to act on behalf of the council. ' Tho President, in welcoming to tho mcetjng the Rev. Dr Roseby, said ho had noticed ith great gladness how tho people in Duncdin had boon pleased to meet their old< friend again—how he had been welcomed by the people of the congregation to which ho lrcloliged, and how he had been welcomed by many outside that congregation. In the name of the churches represented on the council he extended' to Dr Roseby a hearty welcome to Dunedin.— The Key. Dr Roseby, in Teply, said he had exceedingly pleasant memories of Dunedin and its people, and on looking round on the gathering that night ho was flighted to see two of his warmest fnWfi—Mr Duncan Wright and Mr J, A. Torrancc. After speaking briefly on some old4ime events, ho addressed a few words to the meeting on tho educational policy of New South AVaies. His familiarity with tho system there had, at anyrato, couciliated him towards it on the ground that it undoubtedly gave to the various religious denominations all but universal contentment. Under the Public Instruction Act a scries of rciuling-books had been introduced which took the young people through the Old Testament history and through the beautifui story of Jesus, and this was supplemented by religions tonching given by ministers for one hour to those children who might be disposed to attend. The main thing was that in Jncw South Wales they did 60i'ure a very largo amount of Biblical instruction from the Bible itself whioh was given to the children in fliose hooks, containing, as they did, excerpts from Holy Scripture which were specially suitablo to tho mind of the young. Dr Roseby also spoke a few words on the subieot of ths disposition on the part of the churohes to draw somewhat more closely together and' to parley with one another— to meet together to discuss in common matters which wcro of general interest to tlxs Church of God. Before resuming his seat ho said he was very pleased to meet his brethren in good work, and to know that- tho labour in which they were all engaged was blessed by God. Tho Rev. Mr Hodge, reporting on the Biblc-in-scliools question, said he could not report anything to the meeting beyond what tho members already knew. Speaking of tho appointment of an organising agent by the Wellington Executive, ho said he presumed that the agent would go through New Zealand and organise public meetings. It was recognised that little could be done until tho peoplo hod an opportunity of saying "Yes" or "No" on the question. Strenuous efforts had been made year by year to give that opportunity to the people, but it liad not come yet. The agent might shew them how to go to work in a better way to procure that, vote for the people. The agent was expected in the south shortly, and the committee, before making any recommendation, would prefer to wait until his arrival to learn what he proposed to do.— Tho Rev. Mr Saunders slid ho might bo in a minority in regard to this matter, but he would propose—" That this Council of tbo Churches receive with pleasure the assurance of the Wellington Committee that it is not intended to ask for explicit religious teaching in the State schools."—The Rev. Mr Hinton asked who gave the assurance.— The Rev. Mr Saunders said that Dr Gibb had written several letters to the Daily Times in which he said that the instruction from tho religious standpoint was to be implicit, not explicit. , Dr Gibb had assured him that ho was wrong in thinking that religious instruction was ever intended, and that all that was asked for was a Hterary explanation of the texts as contained in the Victoria book. That information, ho had thought, was common property.— Tho president considered that it would be advisable to wait until they had conferred with tho agent.—The motion was not seconded, and therefore lapsed, and it was agreed to take no action pending tho conference with the agent. Mr A. S. Adams reported the steps taken by the Temperance Committee since last meeting, and said it was hoped there would be a. most successful campaign during the coming months and a. magnificent issue of the poll to ho taken at tho end of the year. Mr IT. H. Driver moved—"That this Council of tho Christian Churches of Dimedin respectfully requests the newspaper proprietors' Association to exclude from its papers all references to Tattorsall's sweepstakes and their winners, on the ground—(l) That tho business has been con demned by the Federal Government and made illegal in all the Australian State; except Tasmania, whore it is legalised ohieflj because of tho contribution it yields to the finances of the colony; (2) that our New Zealand Post Office refuses to register letter* addressed to Tattersall's; (3) that it ha; already been declared illegal to advertise these sweepstakes in the colony, and that t<: announe (ho prize-winnors is as effective ar advertisement as the promoters of th< ewoops could desire; (4) that some of thf most influential of our newspapers hav< already resolved to exclude all references t< Tattersall's ftom their columns; and (5) tlia gambling is a vice so fascinating in ife nature and so inimical to tho highest mora well-being of the people that it becomei the bounden duty of all agencies whiol mould public opinion to uso their utmos' endeavour to suppress it." Some of th< leading papers of the colony, he said, hai already decided to exclude this news fron their colnmns.—Mr A. S. Adams secondee the motion, which was carried. The meeting was closed with the bene diction,