MINING.

Otago Daily Times, Issue 13208, 15 February 1905, Page 6

MINING.

At a meeting of directors of the Upper "Waipori Company, held yesterday, a dividend of 6d per share was declared, payable on Saturday, 18th inst. Everything on the 'Waiinumu dredge was working well last week, but the screen sections were getting worn, and the dredge will probably be stopped at the end of this week for the purpose of having new ones put in. There was no change in the quality of the ground as compared with the previous week. The Waikaia dredgemaster reports having had a good run last week up to Saturday night, when the ladder hanger got badly bent and twisted, causing a stoppage of six hours. The ground became drifty during the week, but better ground appeared to be making in the extreme bottom end of tho cut. The gold was about the same sample as in the previous week. The length of the face was 100 yards, while the ground varied in depth from 17ft to 23ft. The bottom consisted of "Maoris'' and putches of red clay. Tho master of the Alexandra Lead dredge, writing under date 12th inst., stated that he did not get the elevator shaft from the foundry until Wednesday evening, Bth inst., and consequently did not have it in position until Friday at 7 'p.m. Owing to boiler inspection steam was not got up before midnight, when a. start being made the elevator was given a trial, but was found to bo chafing on the tail chute. Repairs were effected, and a start made at G a.m. on Saturday, when everything ran well.

Reporting for last week, the master of the Lady Roxburgh dredge stated that the river was falling steadily, and was quite low enough for dredging, while there, was no trouble from drift. During, the week tho dredge struck some patches of worked ground, but towards the close of the week more solid wash was coming in. The machinery was all running ( smoothly, and the alterations to the ladder have effected a great improvement in the lead of the buckets. Mr F. AV. Payne, consulting engineer to the company, had just'returned from the claim after inspecting the dredge subsequent ,to her recent overhaul. Considerable alterations were made to the machinery, the result of which is that there is now; a great saving in the coal consumption. The New Maori Point Gold Dredging Company, the ' office of which is at Port Chalmers and the site of operations at Deep Creek, on tho Shotovcr River, has a capital of £1750, of which £1498 has been subscribed. The gold output for last year, as shown by a statement of affairs at December 31, stands at 1240z lodwt 12gr, of a value of £478 10s Bd, this also representing the output since registration inAugust, 1901. The total expenditure last year and sinco registration amounts .to .£lll2 os Gd. On December . 31 last there was ijasli at the bankers' totalling £203 13s 7d, and a sum of £30 'lis 5d in hand. As against this there were debts totalling £429 13s 9d. The purchase price of the New Paul's Beach dredge, which, as reported in these columns yesterday' morning, was sold by Mr J..C. Arbnckle at Lawrence on Monday last to Mr William Adams, was £300. Bidding

lor the- concern' started at £150, and by £25 bids rose to £275. Further.bids of £10 and £5 followed in that order until tho prico named (£300) was reached! -The. attendance at tho sale was somewhat limited; . ; " . The'maaterof tho Rising Sun dredge-reports •• J that operations were, carried on'for 126 hours ' last week, during which time a distance of 9ft ' was worked ahead. ' .The river wa3 still falling, 1 and should soon be-at-its former level.'- The drift and • topi gravel had stopped r running ' into the c'nt, which was. 150 yards wido and .' 40ft deep. Prospects wore fair, but the ground . ' was rough in places." The machinery wa3\.' running well.' ; ' j Although, the gold output of the Nokomai'.' ' Hydraulic Sluicing Company for last year was only a, few ounces short of the yield for tho ] previous year,, the. company, was,, in consequence of rather heavy expenditure on raco and dam extensions, only able to apportion a sum , of £1200: towards the paying of a dividend, which, on a capital of £24,000, is at tho rate of ' one shilling pet .share. The exact amount of gold produced last year was 15130z 17dwt 7gr, ' of a value of- 1 - £5890 ■4s ,3d. Tho expenditure J in connection with this output was £5200 19s lOd, which is closo on £1000 in excess of tho expenditure of the previous year. Xho gild ( output since registration in March, 1838. stands at 10,5470z 6dwt lgr,vof a value of £10,318 2s . 4d. The expenditure during this period was ( JE33,602'14s lid, and the amount of dividends declared £13,833 lis. On December 31 last . there was cash' at the bankers' amounting to £311) 12s lid, as against which there wero lf . debts totalling £389 2s lOd. I j A statement of the affairs.of tho A 1 Gold ( Dredging Company, which carries on opera- | tions on the West Coast, and -has a capital , of £8500, show?-'.that the amount'of gold won last year was Gs4oz 14dwt, of a value of £2565 Is -Id. The expenditure during the siune timo , was £3000 Gs'Od. The gold output since regis- . tration in November, 1899, stands at SMloz ' . 4d\vt lOgr, o[ a value of £13,427 10s sd. ,Tho ' , expenditure during the same period (inclusive , of dividends declared, which amount to £2125) stands at £21,048 16s fi'd. On December 31 last there wero debts duo to the company totalling £84 15s 9d, /and debts owing to the J amount of £1548 3a 4d. ■ The Premier Sunrise (New Zealand) Gold-' Mining Company, which carries on operations at Macetown, on the West Coast, was regis- ' tered in April, 1902, with a. nominal capital of £5000, of which £2600 has been subscribed. The amount paid to the vondors of the mine was £2500 in fully paid-up shares—namely, 25,000 shares of 2a each. Tlie |*old production last year was as follows:—Mill gold, Giloz 9dwt lgr, of a valuo of £259 8s lOd; cyaiude gold, 171oz Ddwt 9gr, of a value of £578 3s 2d. Since .registration the output lias been as follows:—Mill gold, 35880z sdwt 12gr, of a. value of £13,704 17s 4d; cyiiniclb gold, 4300z ,'idwt sgr, ol a value of £1340 3s sd. The expenditure during the 12 months ended 31st December last was £4518 2s 3d, and since ' registration £10,516 3s lid. At the end of last year there was cash, at the bank totalling ; £20 18s Id, as against which there were ' liabilities amounting to £161 14s 6d. Consequent on a high river the New Alpine Consols Company's dredge was not able lo do .very'much work last year,; and as a result the gold output was rather small and no dividends wore paid. Towards the last few months of the year, however, the dredge was ' ■ moro successful in its operations, and returns. showed a considerable improvement, with tho • result that the'company was before long in a good financial position.. In addition the Great I Central claim- was acquired in March on pay-! ment of about 1309 unissued shares in the New, Alpine Consols "Company. .The life of the company was thereby considerably prolonged. as the original claim should, provide' work, for about two more seasons, while, the Great 'Central claim has not yet been touchc-d. Tho exact amount of gold won last-year-was 5470z 15dwt 23gr, of a value of £2126 18s 9d, tho expenditure in connection therewith beiug £1585 10s. ■ The golell output since registration in July, 1902, stands at 13750z 9dwt 3gr, of a value of £5244- 13s lOd. Tho expenditure during the same period was £7113 lis lid, and the amount of dividends declared £926 15s. On 31st Decemhor last there was cash at the bankers' to flic extent of £337 15s 2d, as against' which there were debts amounting to £57 8s sd. An Auckland telegram says:—Tho gold returns from the Auckland district for tho past three weeks total £55,591. Tho Tairua Broken Hill return from 170 tons slimes is valued at £306, The Mahara Royal crushed 100 tons ore for a return of £190.DUtfEIJIN STOCK EXCHANGE. . The share market was inclined: to be somewhat firmer yester&iy, and, although less tiiau a dozen stocks attracted attention, in two of these buyer and seller managed to conic to terms, the stocks referred to being Central Charltcn and function Electric. The slock which is at present commanding most attention :s Golden Treasure, but there appears to be a scarcity of buyers and sellers 1 on the market. Yesterday a buyer was prepared-to give sellers' price of the past week or so for this stock, but there was no response on ' 'the part, of holders. The Golden Treasure Company is at present doing remarkably well, the returns for the past five weeks averaging close on 70oz per week, while last week's yield was just 2oz off the century, llise and Shines ' have also been hardening "a good dual lately, this, doubtless, being due to the success attending the operations of the company's two dredges. The river height at Alexandra yester- 1 day morning was Bft above the normal mark. ' Central Charltous came under notice at recent rates, and a couplo oi parcels of these shares cliangal hands at 10s 3d, with additional buyers at the close at 10s and sellers at 10s Oil. Electrics were again sought after at 31s 6d without result; while for Golden Treasures a buyer was prepared to give as • high as, 60s, the price which holders have for •' some time past been asking. Yesterday's : market was, however, apparently devoid of a : seller. Good inquiry for Junction Electrics . resulted -in -,i parcel changing hands at 4s. : Additional lots were procurable at this,price at the close, but buyers were only disposed to give 3s 3d. Mystery Flats wero, if anything, a shade easier, but tho quotes were nevertheless still rather wide. Rise and Shines had , improved inquiry at 265, but holders continue | to remain firm at 30s. ; Sales wore mode yesterday the following prices: -Central'Charlton, 10s 3d; Junction Electric, 4s. . _ The following are yesterday's latest quotations, subject to the usual brokerage:— Bignell's No Town—Sellers 18s 6d. Central Charlton—Buyers 10s, sellers 10s Cd Electric—Buyers £1 lis 6d. Ettiick—Sellers 6s. Golden Treasure—Buyers £4. Junction Electric-Buyers 3s 3d, sellers 4s, Mystery Plat-Buyers £1 Is, sellers £1 4s Cd. Nelson Creek-Sellers £1 ss. I Rise and Shine-Buyers £1 6s, sellers £1 10a. Wsimumu—Buyers ss, sellers 8s 6d. INVESTMENT STOCKS. Westport Coal (ex div.)-Buyers £G 2s Cd. sellers £6 10s. New Zealand and River Plate—Buyers £1 5s Od. sellers £1 6s. ■ New Zealand Drug (40s paid)-Buyers £2 ss, sellers £2 Gs.

lor the- concern' started at £150, and by £25 bids rose to £275. Further, bids of £10 and £5 followed in that order until tho prico named (£300) was reached! -The. attendance at tho sale was somewhat limited; . ; "