MINING.

Otago Daily Times, Issue 13543, 16 March 1906, Page 6

MINING.

The secretary of the Waikaia Company repcrta a return of 250z 12dwt for 134 houra' dredging.

The secretary of the Hcssey Company reports a return of ICoz 4divt for 135 hours' dredging. While, waiting for the river to fall the Clyde dredge is having bulkheads put in.

The- secretary of Bigiiell's No Town reports that the dredge resumed dredging operations on Wednesday afternoon. There will be no wash-up this week.

The Molynoux River was at the Gft Sin mark at. Alexandra yesterday.

Reporting on March 11, the manager of the Island Block staled that the last paddock turned out very poor, 1250 square yards of bottom being cleaned up for 440z 9d\vt. The elevator is now being sot up to the face at the top end of the paddock, where HSoz were obtained for a. wash-up. As (ho prospects were fair at the top iace decent returns are expected.

The secretary of tho Lady Annie Company reports a return of lloz llilwt for 134 hours' dredging. The directors of the Waikaia Gold Dredging Company have declared a divdend (the seventh) of Is per share, pavable on Tuesday, 20th inst.

Tho dredgemaster of the Sandy Point Gold Dredging Company reports:—" Finished covering boiler and putting funnel in position on Thursday, and started dredging on Friday morning at 8 o'clock. There is a good d.cal of bailing to do, oiving to the top stuff that has fallen in during the stoppage. Will wash up during tho incoming week."

At a mooting of directors of the New Roxburgh Jubilee Dredging Company, held yesterday afternoon, the secretary reported that the consulting c.'gincer (Mr E. Roberts) had been advised by Mr M'Pliail that that gentleman was progressing well with his salvago arrangements, which comprised tho fixing of winches, backers, and tackle for turning the dredge over. He expected to be ready to turn the pontoons by about tho laitcr part of next week.

Says (he Mataura Ensign:—" Further evidence of the richness of the Waikaia goldfields has been adduced by the success attending the operations of the most recently-started dredge in the district. After a great deal of worry and anxiety, tlio Magnum Bonum Gold Dredging Company got a- sta,Tt on its claim in October last, flight from the commencement the dredge struck good gold, and success was at once assured. The largest return unto date has been 130oz for four days' work, while ono wreck's wash-up panned out JoOoz. Since commencing and up till last rritray. the dredge has returned an average of over 40oz per week, and this after allowing for a number of breakdowns incidental to the starting of most dredftes. At a meeting of the company on Saturday evening a dividend of 2? Gd per share was declared, besides which a substantial balance, was carried forward to allow for any contiiigenc'cs that might arise. The capital of fhc coraoiny is £2500, and is represented by 10 shareholders."

DTJXEDIN STOCK EXCHANGE. Business was not particularly brisk on 'Change yesterday, no activity being shown in any stooks except Ettricks. which were sold at 3s Gd', and Golden Beds, which suffered a further decline, and were disposed of at lGs Gd. The market in the last-mentioned stock opened equal to the previous day's lowest sale Quotation—viz.. 17s, at which price one narcel was disposed of. but fell to lGs 9d, and then to lGs Gd, the market being left with selUrs at 17s and no huycrs. E'eetric-s were on offer at 28s Gd. but (he "best response was 2,55. Molyneux Kohinoors were firm at previous quotations, and inquiries wero made regarding a number of invesf-msnt stocks, included in the number being National Bank. National Insurance, Standard Insurance, TJinon fi.S. Company, Commercial Property, Perpetual Trustees, and Don»»!iy's liope. The present unsatisfactory condition of the river is probably responsible for the nteencc from the quotation list of a number of dredging stocks. Soles made yesterdav:—Ettriclc. 3s 6d; Golden Bed, 17s, lGs 9d, lGs !)d, lGs Gd. Following are yesterday's latest quotations, subject to the usual brokerage: — Alexandra Bonanza—Buyers Bs, sellers 9s. Alpine Xo. 2—Sellers 9s. . Bigndl's Ko Town—Buyers ss, sellers 7a 9d. Chicago—Buyers 12s Gd, sellers 13s 3d. Electric—Buyers 2.55. sellers 28s 6d. Enterprise—Buyers Bs. sellers 10s. Eltrick—Buvers 3s 3d. sellers 3s !)d. Go!dc-n Bed—Sellers 17s. Golden Run—Buyers 255. Island Block—Sellers 5s Gd. Junction Electric—Buyers 2s Gd, sellers is. Molyneux Kohinoor (paid)— Sellers 12s 3d. Molyneux Kohinoor (conlrib,)—Buvers Bs, K-11.M9 10s. Mystery Flat—Sellers 325. Muddy Creek—Buyers 335. Kelson Creek-Sellers 18s. New I'oxburgh Jubilee (paid)— Sellers Us Gd New Trafalgar—Sellers 18s. Perseverance—Sellers lGs. Rising Sun-Sellers 21s. Pviso and Shine—Sellers 21s. Sailor's Bend—Sellers 18s. Mining, Talisman Consolidated (Auckland)—Buvers Ms, sellers 27s 3d. INVESTMENT STOCKS. National Bank—Buyers JCG 4s, sellers £G 10s Gd.

National Insurance—Buyers 23s Bd. Standard Insurance—"Buyers 17s !)d. Union Steam Ship Co.—Buyers £IG. Commercial Property—Buyers Gs Gd. Perpetual Trustees—Buyers IGs Gd. Donaghy's Rope—Buyers .".S, sellers £9. AUCKLAND STOCK EXCHANGE. CFbok Otjr Own Conp.EsroNDENT.) AUCKLAND, March 15. The following were the snloa on the Stock Exchange to-day:— Waiotahi, £5 13s Gd. £5 13s 9d, £5 13s Gd, £5 14s, £5 13s 9d; Tairna. Biokeu Hiils, 2s 8d; Talisman. 2Gs 3d to 27s to 2Gs 4d; Waihi Extended, 4s Bd, 4s Gd, ss. The following are the closing quotations:— Kuranni Caledonian—Sellers 2s 4d, hnyers 2s 2d; New May Queen. 4s Gd to 4s 2d; Victoria, Is Gd and Is 4d; Waiotahi. £5 14s and £5 13s S<l; New Four-in-hand. Is and 9d; Tainu Broken Hills, 2s Sd and 2s Gd; Talisman, 2Gs Gd and 20s 2d; Waihi. £7 10s and £7 8s Gd; "Waihi Extended 5s 7d and 5s Gd. NOTES FROM REEFTON. (F?.OU OTJB OWX COP.RESFOXDEKT.) EEEFTON, March 15. Tho Big River Company's mine manager icports for the past week as follows:—"In No. 8 stope men has been engaged stoping on north and south block of sionc on an average or sft of stone'. There was a now make of stone going south, which was driven on for 6ft, when it cut out. The intermediate going cast from the stopes has been extended sft further. The stone cut out, but has since made again, and now there is Ift of stone in the face, of fair quality, with water coming from it. No. 7 intermediate: In the stope above this level there is an average width of lOin of stene of fair quality in tho face. Above the surfac< air course during the week tho reef widened from sft to Gft but lias since decreased to 3ft of stone, which shows gold in breaking down. Seventy-eight tons have been sent to the paddock for the week." A QUESTION OF PEGGING OUT. (Fhou Ovjb Owx Coebesfoxdext.) ROXBURGH, March 15. After the business of the .local 'Warden's Court was over to-day, the Warden (Mr J. Burgess) said ho had received a communication from tho Otago Land Board, asking him to take evidence in connection with an application niado to that body.by A. Brady and T. Dewar. He had not had time to give notice to cither party, but would hear anything if they were in court. Ho was only to inquire which application was made first, and had no jurisdiction in tho matter. Messrs I R. Coekbiirn and Jabez Burton, who were acting in the matter for tho principals, said \ the facts were admitted. Brady put in his pE-gs 23 hours befoie Dewar, but tho application was not made and the notices were not. posted on the ground. Dewar made application first, and put the notices on his pegs and placed them beside Bardy's. According to these two agents there is no section of the Land Act dealing with the particular method of pegging out and making application for the particular area in dispute. No fewer than four applications were made at the last meeting of the Land Board.