MINING.

Otago Daily Times, Issue 13519, 16 February 1906, Page 6

MINING.

MINING. | A return of 31oz lSdwt for 138 hours' dredging is'repotted by tl'.c secretary of tho Waikaia Company. The secretary of the Lady Annie Company j reports a return of ltoz ldwt for 138 hours' dredging, 1 A return of 14oz 18dwt for 121 hours' dredging is reported by the muster of .Hessey's 1 dredge. ; ' The Masterton Company's dredgemaster wires a wash-up for the past week for a return of 4502 13dwt as a result of 124 hours' dredging. Reporting under dnle 12th inst., tho DnnBtan Lead dredgemnster says the dredge had ' a very fair run lost week, but the ground operated on was very poor. The prospects for 1 thfl present week are better, but soma time ' will bo lost in putting in a new top- tumbler. ] The manager of the Island Block reports 1 that he had a good deal of trouble with the 1 feed pipe line for eight days previous to the 13th inst. Since last waslmtp four bursts in ' the main line on the hill have been reported. ! Everything is now mnning well, and good ' headway is being m#do with stripping in the | paddock. , The master of the Punt dredge, reporting on the 10th inst., states that he dredged for 1 52 hours on a cut of 100 yards wide, and that 1 he was engaged cleaning out the cut, which was paTtly filled with silt. The ground is tight, 1 and prospects are about the same. The machinery is running very satisfactorily. Writing under date 10th inst., the. dredge- ' master of the Wakatipu states that dredging was started on Wednesday. The wash is reported to he hard, with very littlo gold showing, but good gold is expected when the work is got through and the bottom of the gutter is reached. The master of the Matau dredge reports (hat lie had a very steady run, dredging all tho week. The ground did not improve on the east side of the river, and a cut was opened out towards the west on Wednesday, a lead of very fine gold was struck on section No. 73. The ground here is easy to work, and the machine is able to beat the drift. A stoppage of about eight hours will be necessary to renew the lines oil the sliutes. Everything else is in good order. The_ operations of tho First Chance Gold Dredging Company during last year were of the usual unsteady and interrupted nature. The acinal amount of gold won was only 5590z, of a value of i'2loo 17s, and the amount expended in carrying on operations £2709. Tho First Chancc Company was registered in June, 1902. and since then to dale has put to its cTedit gold to the amount of 28250z, valued at £9944. The expenditure during the same period was £1],0G3, and the dividends declared .{3150, On December 31 there was cash at the bank and on deposit to tho amount of £614. Tho debts owing by tbe company , totalled £72, while, in addition, there are still outstanding 300 debentures of £2 each, representing a sum of £600. Mt James Nelson, who has been in Dunedin during the last few weeks representing AVest Coast mining interests, left by the north express yesterday for Hokitika and Ross. In tho latter distiict Mr Nelson is supervising the starting of a suction dredge, from which good profitable results are anticipated. Mr Nelson is also interested in a very large mining property connected with the coast, which is now on the London msrltel, and which it is expectcd will be Hiccesstnliy floated there. A number of gentlemen interested in mining were at the Dunedin station yesterday to givo the .West Coast visitor a good send off. The Endeavour dredge started work again on Sunday night, after having been shifted up the claim. Tho Alexandrr Herald learns that the Fraser Basin, a large extent of tint at the head of the Fraser River lias l»en taken up by a strong local sj-ndicato composed of men experienced in hydraulic sluicing and elevating. The water rights arc all in good order, and in all probability a. start will bo made next season. In the meantime a plant will bo securcd and despatched to the scene of operations. Our contemporary is given to understand that tho 01:1 Man Range was rich in alluvial deposits as far as they could be bandworked, and there is more than the ordinary bright outlook ahead for this syndicate. ■Mr \Y. H M'Craw has been.appointed engineer ol tho Sailor's Bend Company's dredge. Mr John Dewar, who has been the first and (.nly drtdgMnasisr for the Sailor's Bend Company, will no! be in charge of the dredge this year, having just resigned his position.— Alexandra Herald. The Alexandra Herald states that the Four-teen-mile Beach has been shifted to the bottom of the claim, ar.a preparations are being made 1 for resuming operations. A coal road is being made, which is expected to be completed in about, a fortnight, when dredging will bo starts;! for tlir: season. The Enterprise No. 1 dredge, which has been acquired by the Black's Flat Gold Dredging Company to work a claim at Ophir, will require to be dismantled, carted, and then reerected on her new claim—a distance of about 20 miles from her present site. She. should be at work ill about four months' time, and • the claim—one of 100 acres or thereabouts— is well spoken of by both the vendor (Mr G. P. Bloc) and others in the vicinity. Of the 2250 shares of the company 700 fully paid-up have been paid to the Enterprise Company for its dredge, 350 fully paid-up to the vendors of Iho claim lo bo worked, along with water rights, and lhe remaining 1200 contributing shares, have been offered io shareholders, and all fully applied for.

DUNEDIN STOCK EXCHANGE. The market was again quiet yesterday, and sellers, although prices in some of the leading stocks cased a little, were not successful in tempting buyers to operate. Alpine No. 2 shares feil oil a little in the selling offer, iind buyers receded sixpence in the offer for Electrics. Golden Beds were eold at 20s, but the market closed without further inquiry. Golden Huns firmed on the previous day's quotations. Island Blocks wore also, firm, and New' Alpine Consols showed a firming tendency. There was good inquiry for New Roxburgh Jubilees (both paid and contributing), but a two-shilling market in eacli case was a bar to business being done. A wide market was also observed in New Trafalgars. Other mining stocks were practically unaltered, and investment stocks quote 4 were firm at previous prices. The Molyneux River was yesterday Oft above normal at Alexandra— a rise of 2in as compared with telegraphic advice on Tuesday last. The weather, however, was reported to be fine, and should this continue a fall may be expected. Sale made yesterday:—Golden Bed. 20s. The following are yesterday's latest quotations, subject to the usual brokerage: — Alexandra Bonanza—Buyers 7s, sellers Bs. Alpine No. 2—Sellers 9s Cd. Bignell's No Town—Sellers 9s 3d. Electric—Buyers 29s Gd. Golden Bed—Sellers 21s. Golden Bun—Buyers 30s, sellers 31s Gd. Island Block—Buyers 5s 3d, sellers 6s 3d. Lady Roxburgh (contrib.) —Buyers 9s, sellers Gs dis. Majestic—Buyers 4s, sellers ss. MolyncnM Kohinoor (paids) Buyers ss, sellers Cs 9d. Molyneux Kohinoor (contrib.)—Buyers Is 9<l, sellers 5s 3d. New Alpine Consols—Buyers 12s, sellers 13s. New Roxburgh Jubilee (paids)—Buyers 245, sellers 2Gs. Now Koxburgh Jubilee (contrib.)—Buyers 4s, sellers Gs p. New Trafalgar—Buyers 16s, sellers 20s. Otago—Buyers 33s Cd, sellers 355. Pactolns—Sellers 535. Perseverance—Buyers lis. Sailor's Bond—Buyers 14s. Waikaka, Queen—Buyers 3s 9d, sellers ss. Mining. Roxburgh Amalgamated (contrib.)—Buyers 4s ikl, sellers 5s 3d. Tinkers—Buyers 255. Big River—Buyer's 3s Gd, sellers Cs. INVESTMENT STOCKS. National Bank—Sellers £G 10s. Bank of New Zealand—Buyers £8 7s. National Insurance—Buyers. £l 3s 3d, seil»ra £1 4s. -. Commercial Properly-Buycrs 6s 9d. N.Z. Portland Cement—Sellers £1 9s Cd. Donaghy's Rope—Buyers £7 12s Gd. AUCKLAND STOCK EXCHANGE. (From Our Own Correspondent.) AUCKLAND, February 15.. The following business was done on the Siock Exchange to-day:—New May Queen, 5s 3d, 5s -Id, 5s 3d; Talisman Consolidated, 31s 6d, 30s 9d, 30s 6d; Waihi Grand Junction, OGs; Waiotahi, £5 18s and £5 18s Gd; Wailii £7 Gs; Waihi Extended, Gs Gd and Gs 8d; Kuranui-Caledoniim,' 2s 8d and 2s 74 following are the closing quotations:— Kttramii-Cal«loniin—sellers 2s Bd, buyers 2s 7d; New May Queen, 5s 4d and ss; Victoria, Is 7d and Is nd; Waiotahi, £6 ami £5 18s 6d; Bunker's Hill, Is and BSd; Tairua Broken Hills, 3s and 2s 9d; Talisman Consolidated, 31s and 30s 63; Waihi, £7. Gs and £7 ss; Waihi Extended, Gs'Bd and 65 Cd; Wailii Grand Junction, GSs and 555. NOTES FROM REEFTON. (Fp.oit Our Oto Correspondent.) REEFTON, February 15. The Big River Company's mine .manager reports for the week:—"The stone going into tho hanging wall in Nc 8 stope pinched'after going i further distance of 3ft. - The uprise for the stope is on an average of 3ft of stone of fair quality. We have also started, driving the intermediate level'on . the east end of the main pass on an average -of 2ft: of stone. In No. 7 level, in the [ace-above the,Tvinze, the stone cut out 011 Wednesday, leaving a good track in the face., In . the face . above .the chamber in the surface air course .we liavo put an uprise for a stope ; ori ah average of 15 inches of reef, which is a little mullocky, but shows good gold.- SLxty-two tons of stone were raised for the week." THE WEST COAST. (FIOM 008 OWK CobrespondiHT.) GREYMOUTH, Febiuiry 15. Repairs were speedily effected to the GreenI stoge Cfsek poßtagus, wjufji wre. &tsved jfl

by n stump 011 Saturday, and operations were resumed by !1 p.m. on Monday. A good sample of gold is showing in the (nee. Mi Cowie, dredgemastcr o[ the Greenstone Creek dredge, has purchased'the Mosquito : No. 1 dredge, sitimted .on Noble's Creek. It -is understood he intends to have the machinery thoroughly overhauled, and then resume operations. The Mosquito No. 2 dredge, now owned hy a private syndicate, lias teen putting in steady work for a long time past. Nothing definite is known as to the yields, hut it is understand tlmt they liave left a decent margin of profit. , The desirability of all gold dredges being fitted with centrifugal pumps connecting with the pontoons has bee* illustrated several'times of late. AVhcn the pontoons strike a snag and water is making, it is very easy, by means of the above pump, to keep the hull clear till sufficient repairs have been effected. In many instances 'these pumps are in use. Speaking generally, all dredges now built are provided with this safety appliance. The Westport Prospecting Syndicate has received glowing accounts regarding the new reef find on New Creek, between Lyell and Mokihinui. The lode is now said to be 25ft, showing gold. Fifty pounds weight of stone lias been received in Westport for essay. The discovery lias created considerable excitement at Lyell, where it is looked upon a3 most important. The directors of the Westport Stockton Coal Company aro expected at Westport shortly. Operations so far have more than confirmed the previous good opinions entertained concerning the company's property. A good 50 years' coal of excellent quality has practically been proved by the preliminary developments in it comparatively small area of the company's lease. , Messrs Greenland and Young received satisfactory information by cable on Saturday afternoon tlmt the company to work the rich coal area in the district known as "Cook's Lease," has been floated in London. The New Zealand directors are Messrs James Colvin, M.H.8., and C. N. Greenland, of Westport, and Mr Westenra, of Akaron. The news is of the utmost importance to the district. THE CHARGES*ON GOLD. The sub-committee of the Otago and Southland Gold Mining Industrial Union of Employers appointed to promote U'e formation of a syndicate for the purchase of gold is meeting with a hearty response from the companies interested, and is promised a very strong guarantee fund. A meeting o[ the sub-committee was held at tho secretary's offices yesterday afternoon, the business transacted being of a private nature.