MINING.

Otago Daily Times, Issue 13544, 17 March 1906, Page 10

MINING.

Electric No. 1 dredge will not -wash up this week owing to the rise in tho' river and stoppage for boiler inspection. The Revival dredge washed up yesterday for 13oz 6dwt for 116 hours. The ground is rough. The Molyneux Kohinoor dredge will not start for a fortnight. Tho overhaul revealed the necessity for repairs and renewals.

The Unity Company's steam dredge, two boats, tools, and all appliances now lying in the claim at Clyde were sold by auction by Messrs J. Sainscn and Co. yesterday for £U5. The purchaser was Mr J. A. Sligo, and the bidding started at £200. The Rise and Shine No. 2 dredge stopped yesterday for boiler inspection. A Gore paper states that the MacCharlton dredge and claim have been disposed of for £750.

Messrs Park, Reynolds, and Co. offered at auction yesterday the Alexandra Eureka dredgo now lying at Alexandra. Bids started with £200, and ran up to £295, at which figure the dredge was passed in. Tho dredgenmster of the New Trafalgar Company reports under date 10th March that he had a short week's dredging, owing to minor stoppages. The ground worked was rough and stony, and fairly deep. He expects to be through this week where the dredge originally started operations, and will then not have so much overburden to shift, and anticipates that the bottom will begin to rise.

The dredgemaster of the Three-mile Greenstone dredge, reporting on the 10th inst., states that dredging is being continued in the north half of the fare, and that »■ good many large boulders are being met with. The bottom is inclined to rise, and the wash is looking about the same all over the face. A break occurred in the main engine on the 13th inst. The dredgemaster expected to start on Friday night, 16th inst.

The Emu Bay Railway receipts for February amounted to £4703, as compared with £3102 for the same month l»6t year.

The Mouut Lyell Mining and Railway Company reports for the week ending February 28 that fair grade ore is being obtained in the 30!), 400. 500, 600, and 700 feet levels in live north mine, that ore is being broken for smelters at benches 3a and 3b, 4, ■)*, and 4b, Mount Lyell mine, and that at the Lyell Tharsis Ore Body fair grade ore is produced. In the surface work at Lyell Tharsis Extension open cut ore is being broken for smelters, and the usual small quantity has been despatched, and a little ore has been won and despatched from the North Lyell open cut. Fair grade ore is being produced in underground work at tho 50ft and 120 ft levels in Lyell Tharsis mine, and it is reported that 3756 tons of blister copper has been consigned for the current -half year.

The secretary of the Ettrick Company reports that the top tumbler of the Ettrick dredge broke on Friday morning last, and tho tumbler, after being examined, was found to be worn considerably, mid a new one was ordered at once. The loner tumbler a few days ago previously had given trouble, necessitating an order for a new one being dispatched right away. It will probably take about three weeks to get both tumblers cast, carried to the claim, and placed in position, and there will be no dredging during that period. It is understood that the Government's offer ot £13.000 for tho purchase of the Alexandra Bonanza Dredging and Sluicing Company's water rights, claim, and plant has been accepted by the company. This is a modified offer, the arrangements originally entered into with the company by the Government having been for the purchase of the water rights, race, and dams only. The Government now acquires both claims and plant as well.

THE AVEEK'S DREDGING RETURNS. Oz. dwt. gT. Rise and Shino No. 2, Upper

DUNEDIN STOCK EXCHANGE. The fact of the Molyneux River being at the 7ft 3in mark above normal at Alexandra probably accounts for tho apathetic market on 'Change yesterday. The rise in the river is such as to put if beyond the hounds of possibility for any of the gorge dredges to start at present, and with the drift that has been set loose it is probale these dredges will not be able to commence operations for some time. In addition to this, the condition of the river will, no doubt, seriously hamper the work of dredges now in commission, and also the operations of others that have been temporarily stopped for repairs, and which were about to recommence work. The cause ' of the rise in the river is generally attributed to a heavy rainfall in tho Lakes district. The only stock that commanded market attention yesterday on the Exchange was Goldeu Beds, which firmed considerably, sales being made at 17s 9d, as against 16s 6d on tho previous day, and the market closed with inquirers at 17s 3d and holders firm at IBs. Other stocks quoted Bhowed no alteration worthy of note on previous buying and selling prices. Sales made yesterday:—Golden Bed, 17s 9d. 17s 9d. . Following are yesterday's latest quotations, subject to the usual brokerage:— Alexandra Bonanza—Buyers Bs. Blackwater (paid)— Buyers 2(s. Chicagor-Buyers 12s'6d, sellers 13s 3d. Electric—Sellers 295. Golden (Bed-Buyers 17s 3d, sellers 18s. Goldeu Run—Buyers 255. Hartley and Ril«y—Buyers 17s 6d. Island Black—Sellers 5s 6d. Junction Electric—Buvers 2s 6d, sellers 4s Sd.

Majestic—Sellers ss. Mystery Flat-Sellers 325. Muddy Creek—Buyers 335. Nelson Creek—Sellers 18s. New Alpine Consols—Buyers 10s, sellers 12s.

New Trafahrar-Sellers 18s. Otago—Buyers 37s 6d. Rise and Shine—Sellers 21s. Sailor's Bend—Sollers 18s. Roxburgh Amalgamated (paid)— Buyers 4s. Big River—Buyers 3s 3d. Talisman—Buyers 265, sellers 27s 3d.

INVESTMENT STOCKS. Standard Insurance—Buyers 17s 9d. New Zealand Oil and Coal—Sellers 2s. Commercial Property—Buyers 6s 6d. Federal Portland Cement—Buyers 28s 6d, Donaghy's Rope—Buyers £8,

MATAURA DISTRICT. (Feoji Oto Owk Cobsis?okmht.) A syndicate has been formed with the object of.acquiring a dredge to work a stretch ot the Mataura River and the adjoining flats about two miles below Gore. The prospeota obtained are eaid to be favourable, and with an np-to-daia dredgo operations are expected to be profitable. Tho claim is about four

miles below where the Central Mataura. Company's dredge worked, bnt tho incapacity ot the latter dredge for river working prevented its operations providing a test ol the payability of the Matama. The big Wairuna dredge has been gelling rery poor returns of late. The Eoyal end Queen are getting satisfactory returns, but the Queen has had a lot of trouble with its oil engines, which, as far as dry claims are concerned, have shown themselves utterly unsuitable for dredging. The Queen Company has had trouble from the start. The new Charlton dredge and claim have been sold to a syndicate, which purposes making a further teat of tho claim. The price was 1*751). Tho Sheddan Rex dredge, Waikaka Valley, has closed down, and I understand is to be offered for sale at auction. It is probable, however, that she will start again. j

AUCKLAND STOCK EXCHANGE. (Fhov Ova Own Corbespokdent.) AUCKLAND, March 10. The folowing were the soles on the Stock Exchange to-day:—Waiotahi, £5 11s, £5 14<s Gd, fa 15s; Talisman, 2Cs 9(1, 275, 2Gs Gd, 2Gb 9;1; Knranui Caledonian, 2s sd; Waihi, £7 9s. Tlie following are the closing quotations: — Kuranui Caledonian—sellers 2s Gd, buyers 2s 4(1; New May Queen, is 7d and 4a 3d; Victoria, la 8d and Is sd; AVaiotalii, £5 15a and £i Us; Pour-in-hand, Is Id ami 9ld; Talisman, 27s and 26s fld; Waihi, LI 10s and £1 8s Gd; AVaihi Extended, 5s 7d and 5a 4d.

NOTES FROM REEFTON. CFeou Our Own Cobp.espondest.)

. REFFTON, March IG. The latest information regarding the Black-water-Snowy Creek find is that in the ground over which Mr Kingswell has an option a. winze is being sunk on 7ft of stone. At the north end the tunnel is being put in 151 ft from the outcrop, striking 40[t of good stone. The prospects nre, generally, remarkably good. The reef on which the Keep It Dark Company is working at present has widened out considerably, and shows good prospects.

At the Warden's Court to-day Henesy and Tacon applied for a prospecting license over 50 acres on Antonia's Creek. The same party also applied for a prospecting warrant for a claim situated in the same locality. Thos. Barron applied for a prospecting license over 100 acres in the Snowy Creek district, the scene of the recent find, as did also G. Perotti. Both aplications were granted.

Chitlia, 188hra U 15 0 Muddy Creek. Wailraia. 125hrs.. 31 3 0 Rising Sim, Up. Clutlia, llOhrs 29 4 0 Waikaia, Waikaia, 13<hrs .. 25 12 0 Dunstan Lead, Alexandra, week 17 10 2 Central Charlton, nr Gore, 133hrg 15 0 0 Charlton Creek, nr Gore, wk .. 15 0 0 Garden Gullv, Wsifcaka, S days 14 8 0 Revival, Clutha River, UGhre .. 13 G 0 Lady Roxburgh, Roxburgh, wk 13 0 0 I*dy Annie, TVaikaia, 134hrs .. 11 11 0