MINING.

Otago Daily Times, Issue 13263, 20 April 1905, Page 9

MINING.

Tell Dunedin Stock Exchange will close down to-day for the Easter holidays after the morning call, and will reopen on Wednesday forenoon, 2Gth inst. The master of the Clyde dredge wires that he struck old groitnd on Tuesday last. The return of gold from the Mokoia dredge for the week ended lGtli inst. was 13or. &hvt from 19oz of amalgam as previously reported. It is reported that the Alpine No.'2 dredge has bottomed the cut, and that a return may bo expected this week. The Waitmimti dreilgemaster, under date April 17, reported that everything was working well last week, and that the ground though hard was improving. The master of the Electric No. 1 dredge reports that ho worked 112 hours last week .over a distance of 18ft. The width of the cut was !)lft, and the depth of ground varied up to 40ft. The sample of gold was very fine and scaly, and prospects were about the same as during the previous week, the run of gold being near the centre of the river on a blue clay bottom. An accident to the crossbar caused some delay oil Saturday, but dredging was resumed on Monday afternoon at i o'clock. The master of the No. 2 dredge reports that the dredge was shifted up opposite Long Gully on the 10th inst., and that dredging was resumed the same evening, the remainder of the week being occupied in baling out the old paddock. There was a little gold showing on the mats on Saturday afternoon, but as the work is still.behind thoface the gold did not amount to much. The depth of ground varied from '10ft on the .tSamiockburn side to less than 30ft on the Cromwell side. The master of the Junction Electric No. 1 (hedge reports that he finished cleaning out the paddock on Monday week. On Tuesday week the ground worked was very rough and covered with large "Chinamen," some of which were too large to go through -the hangers. The prospects were only fair until Thursday, when they improved very much, but they were not quite so good on Saturday last. The width of the cut was about 60ft, and the depth of the ground 25ft to 30ft. The master of tho No, 2 dredge reports that he dredged for 116 hours, the distance worked ahead:being 30ft, the depth of ground varying from 12ft to 25ft. A portion. of. deep ground on the Cornish Town aide of tho river has been dropped, and the cut extended right into the bank on the Cromwell 'side. Tho prospects were reported to be better, and the dredgemaster think 6 the ground has not previously been worked. The report from.the master of the No. 3 dredge states that the actual dredging time last week was 110 hours. There were several short stoppages for repairs to machinery. Prospects continued much about the same as when the last report was sent in. ,• , The secretary of the Kiso and Shine Company reports that the i\o. 1 dredge worked only three days last week, and was employed in the east corner, which is the poorest part of the cut. Prospects were very fair, and the ground was light. ■ "The 'master of tho. No. 2 dredge reports: "The east cornt-r improved again last week aid helped the return. The river has been let into the paddock, as the tailings were giving trouble at the corners, and the river was 3ft higher than the water in the paddock'. This' gives. more room, and enables, us to vtork awajr the corner of the tailings, under which there is good gold." A progress report issued by the Mount Lyoll Mining and' Railway Compoiny for the j week ended April 5 states that No. 10 stope lii'the 200 ft level, the "B," No. G, main stope extended, and main stopes in the 300 ft level, ; tho main stops in the ..400ft levelj the asm

'slope in" tho 60ft' level, tlio sub-stopc9 and : main stopca in tlio 600 ft level, and flio slopes "iii tho oOft level, all in tho North Mount Lyell mine, were producing fair-grada . . ... ore. In tlio B stope drivo in the 400 ft level 20ft of 'good-grade oro had been 'liassea '' : ; ' through, and opening-out operations were proceeding. , Tho north contact drivo in tho 600 ft - level was being opened out, 10ft o£ good grado oro having boon passed through. ■ Tho' main crosscut in the 600 ft level had been '.v driven 20ft in all, in high-grade ore, which continued. Tho stopes in the 50ft level in : tho Lyell Tharsis mine wero producing fair- . grade oro, and the usual quantity had boon , despatched to tho smelters. Tha quantity o£ blister coppcr consigned for tho past half year was 3900 tons, and that for tho current half-year. lOOtons. Tho directors of tho New Perseverance '■ Company hiivo declared a. dividend of Is pec share, payablo on Friday, 28th inst. Tho directors of uignell's No Town Company have declared a dividond (tho fourth) .' > of one shilling per share, payable on tha 20tli inst. This makes £1800 distributed in dividends by tho company, and in addition to this £100 has been added to the reserve ;' fund, which now stands at £100. . DUNEDIN STOCK EXCHANGE. Tho sliaro market generally remains quiet, the only business dono on 'Change yesterday being sales of Chicago dredging stock at, 129 3d and JAessey's at 20s, Tho first-montioned shares have risen steadily in prico during the past-fortnight, and from 8s (the buyer's quotation) have advanced to 12s 3d. Sellers now ask 14s, and it is expected tho market will remain firm at those figures, as a dividend is said t.o bo in view, and in addition to this the company has sold tho old dredge, and has now a bigger machine to do the dredging work of the claim. The Melynenx River is now only 4ft 9in above the normal mark at Alexandra. Bignell's No Town, firmed a little on the previous day's market, and Central Charltoiis were inquired for at !)s U.. Dunstan Leads also firmed on previous quotations, and Electrics eased a little. Buyers of Ettricks advanced from 3s to 5s fid, and the market in this stock was a sixpenny one. Golden Huns and Junction Electrics showed no alteration, but Muddy Creeks advanced ninepence in the buying offer, and Mystery Plats fell back ( ; to 27s Gd (buyers) and 29s 6d (sellers). In other stocks quoted there was no material alteration of note, and investment stocks were firm at former quotations. The following sales were made yesterday :-i Chicago', 12a 3d; Hessey's, 20s. The following avo tho latest quotations, subject to tho usual brokerage:— Alexandra Bonanza—Buyers Is. Alexandra Lead—Sellers 03. Bignell's No Town—Buyers 10s 3d, seller! 18s. Central Charlton—Buyers 9s Gd. Chicago—Buyers 12s 3d, sellers 14s. .Ounstan Lead—Buyers Gs 9d," sellers 7s 3d. Electric—Buyers £1 13s, sellers £1 lGs. Ettrick—Buyers 5s Gd, sellers os. Golden Run—Buyers £i 4s,' sellers £1 Cs. 1 Junction Electric—Buyers Gs 3d, sellers GiJ 9d. ■ Mystery Flat—Buyers £1 7s Gd, sellers £v 0s Gd. Muddy Creek—Buyers £1 4s 3d. Nelson Creek—Sellers £1 2s Gd. • New Bendigo—Buyers 5s Gd, sellers Ss. New Halfway House—Buyers 2s, sellers 2a Gd. ■ Pactolus—Buyers £1 9s, sellers £1 lis. Perseverance—Buyers 17s. Riley's Beach—buyers 5s 3d, sellers Gs Ci}. Rise and Shino—Sellers £1 Ss. . Unity—Buyers 3s, sellers 3s 9d. • Waimumu—Buyers 4s 9d, sellers ss; Miking and Sluicikg. Roxburgh Amalgamated (paid)— Sellers 3s 9d, Alpine Extended, (quartz)— Sellers Is 3d. Nokomai—Buyers £7, sellers £8. INVESTMENT STOCKS. National Bank—Buyers £5 5s Gd. National Insurance—Buyers £1 0s 9d. Standard Insurance—Uuyers 16s Gd, sellers 17s. Westport Coal—Sellers £G 13s Gd. Commercial Properly—Buyers 3s 3d. Perpetual Trustees—Buyers 16s 3d, sellers 17s 3d. ' Trustees Executors—Buyers £2 17s. N.Z. Drug (40s paid)— Sellers 48s. NM. Portland Cement—Buyers £1 Is Gd. N.Z. Refrigerating—Sellers £1 15s. NOTES FROM CROMWELL. (FaOll OUP. OWH COBRESPONDKNT.I CROMWELL, April 19. The wcnthcr is fine, .with heavy frosts at night, and the river is falling steadily. There is nothing sensational to report so far in the dredging line. Both Electric dredges are working steadily, but are not doing anything big yet. The Junction No. 1 dredge is on rich vrash. The manager has made considerable improve* mcnts in the dredge during the summer, so that she caii now handle the rough ground well. No. 3 dredge has now faced into tha bank, and should 50011 get good roturns. The Hartley and iiiley and Alpine J\o. 2 dredges are both working steadily, but prospects are poor. Tho Consols prospects are fair, but the dredge has not got opened out yet property 011 account of sunken buckets. Both of the Rise and Shine dredges are on good wash, and should have good returns for some time.