Page 10 Advertisements Column 3

Otago Daily Times, Issue 13579, 28 April 1906, Page 10

The secretary of the Clyde Dredging Com-, pany informs us that the dredge will only be worked at Frenchman's Beach until such time as the river is at n suilablle level fo work at the Italian Bend. Tho master of the New Trafalgar dredge, reporting on the 21st inst., says:—'We had ft very good week's dredging, with the exception of a stoppage 011 Tuesday to put in new screen rollers. The ground is very much tho same: face about 27ft deep from the water level, with 3ft or 4ft- out of the water, Tha bottom is partly soft ' old man' and partly clay." The master of (lie Three-mile Greenstone dredge, writing 011 the 21st inst., stated that dredging was stopped on the previous Monday and' Tuesday for the Easter holidays, and the remainder o[ the week was put in near the north reef and out towards the middle of the face. The ground was exceptionally rough 011 the rising bottom, about a chain from the corner, and could hot be cleaned up owing to large boulders, otherwise the return would have been fully 20oz. The ground is much better to work, the dredge having got past the patch of large boulders. The dredgo was to operate on the full width 'of the face the following week. Reporting 011 the 21st inst the master of the Sandy Point dredge says:—"We were dredging 122 hours; widlfi of cut IGOyds, average depth 2Sft; distance worked ahead, 7ft; average height of face above water level. 20ft. Started working right across the cut on Monday morning. Prospects fair, and work at present fight. A good deal of top stuff has fallen from the high face on the inside during the past three weeks, making a lot of baling necessary, and this, together with the wash being tight, we did not cover so much bottom. The sample of gold won was mostly fine, and the water supply at present is very good. The progress report of the Mount Lyeil Mining and Railway Company for the week ended April 11 stales that ore is being broken for the smelters at 3a. lib, 4, 4a, and 4b ill Mount Lyell Mine; that fail* grade ore is being produced from the 300 ft, 400 ft, 500 ft, GOOft, 700 ft levels, and from tho Lyell Tharsis ore body in North Lyell mine; that oro is being broken for the smelters, and the usual small quantity despatched from Lyell Tharsis Extension open cut and North Lyell open cut, and that fair grade ore is being produced from the 50ft and 120 ft levels in Lyell Tharsis mine. Blister copper to the amount of 300 tons lias been consigned for tho current half-year. THE WEEK'S DREDGING RETURNS. oz. dwt. gr. Electric No. 2, Cromwell, 3J days G2 10 0 Lady Annie, Waikaia, 137hrs .. 42 11 0 Junction Electric, Cromwell .. 31 1G 0 Revival, Clutba River, 173hrs .. 30 10 0 Muddy Creek, Waikaia. 125hrs 29 8 0 Central Charlton, near Gore, lliGhrs 26 2 0 Mystery Flat. Waikaia, 127hrs 24 8 O Waikaia, Waikaia, 131hrs .. 21 G 0 Lady Roxburgh, Roxburgh, week 20 9 0 Dunstan Lead, Alexandra, week 20 5 0 Hartley and RiJev, Cromwell, 122hrs 20 0 0 Charlton Creek, near Gore, week 19 15 0 Garden Gulley, Waikaka, 6 days 16 17 0 DUNEDIN STOCK EXCHANGE. There was littlo alteration in the tone of yesterday's market, and the business on 'Change was confined to one transaction—a sale of New Zealand Portland Cement shaves at 31s. Alexandra Leads maintained the firming tendency of tho previous day, and Alpine No. 2's wero a shade easier. The market for Electrics was a wide one, sellers holding for 25s Gd and buyers offering 255. As will bo seen from the returns published elsewhere the Electric No. 2 dredge obtained G'2oz lOdwt for three and a-half days' work, a very good return on the high river now running, and with the large amount of drift travelling, and this result, indicating that the machine is on good ground, should result in finning up prices. Golden Bed. Hartley and Riley, New Alpine Consols, and Enterprise scrip was slightly easier, and Molyneux Kohinoors remained firm at recent quotations. In the investment stock market Now Zealand Instuanco Company's stock showed a weakening in tho buying quotations as compared with the previous day. but holders made no alteration in tho selling quotation. Sale made yesterday:—New Zealand Portland Cement, 31s. Following arc yesterday's latest quotations, subject to the usual brokerage: — Alexandra Lead—Buyers 4s Gd, Eellers ss. Alpine No. 2-Sellers 8s fld. Bignell's No Town—Buyers ss, sellers 7s, Central Charlton—Buyers 8s Gd. Chicago—Buyers 15s. Electric—Buyers 255. sellers 2Ss Gd. Enterprise—Buyers 7s, sellers 8s fld. First Chance—Buyers 12s, sellers 12s fld. Golden Bed—Buyers 19s, sellers 20s 9d. Hartley and Rilev—Buyers 275, sellers 2Ds Gd. Island Block—Buyers 4s Gd, sellers 5s Gd. Junction Electric—Buyers 2s, sellers 2s Gd. Molyneux Hydraulic—Sellers 5s Gd. Molyneux Kohinoor (paid)— Sellers 15s Gd. Molyneux Kohinoor (coutrih.)—Buyers 10s Gd, sellers 13s Gd, Mystery Flat—Sellers 30s. New Alnine Consols—Buyers 13s, sellers 14s 9d. New Roxburgh Uubilce (paid)— Buyers 8s 3d. Otago—Buyeis 40s. Rising Sun—Sellers 21s Gd. Rise and Shine—Buyers 21s, sellers 225. Sailor's Bend—Sellers 18s 9(1. Miking. Talisman Consolidated—Sellers 2Gs, Big River—Buyers 3s 9d. sellers ss. Kcep-it-Dark—Sellers 31s Gd. INVESTMENT STOCKS. New Zealand Insurance—Buyers X 2 17s, sellers £3. Standard Insurance—Sellers 19s nd. Wcstport Coal—Buyers £G 3s Gd, sellers .EG Gs. New Zealand Oil and Coal—Buyers Is 4}d, sellers Is 9d. National Jtortgage—Buyers £2 18s Gd, sellers £3. Perpetual Trustees—Buyers 17s 9d. New Zealand Portland Cement—Buyers £1 10s Gd, sellers £1 lis Gd. Godward's Pin—Sellers 5s 3d. AUCKLAND STOCK EXCHANGE. (Fboii Ou* Own Cokrespondent.) AUCKLAND, April 27, Tho following were Ihe sales on the Stock Exchange to-day:—Waini Extended, Gs 7d, Gs 9d, Gs Gd, Gs 7d: Waio'.ahi, £7 13s, £7 15s; Tairua Broken Hills, 2s 10(1. SANDY POINT GOLD DREDGING COMPANY (LTD.). Tho annual meeting of the Sandy Point Gold Dredging Company was held at the office of (lie sccrotary (Mr J. A. Sligo) yesterday. Mr Thomas Steel (chairman of directors) presided, and there were half a dozen shareholders I present. The annual report stated that the quantity , of gold won during the year was IGG2oz 7dwt 4gr, valued at £6190 7s Bd. The total expendi- ■ lure for tho year amounted to £(131 0s Id. Seven dividends of Is per share each were paid (a return of 35 per cent, on amount of paidup capital). The ordinary reserve fund, with ' accrued interest, now stands at £GG3 2s lid. 1 During the year the dredge has been fitted with a new top and bottom tumbler, and is now in first-class working order. Tho Chairman moved the adoption of the annual repcrf and balance sheet, the motion being seconded by Mr F. W. Payno 'and carried without comment. Mr T. Steel (the retiring director) and Mr John Logan (the auditor) were re-elected, and the remuneration to directors and auditors was fixed at the samo as formerly. NO TOWN CREEK GOLD DREDGING COMPANY. The annual meeting of shareholders in the No Town Creek Gold Dredging Company was held in the office of tho company yesterday afternoon. Dr It. Martin (chairman of directors) presided. The annual report, as presented to shareholders, was os follows:—"Your directors regret to have to report the failure of No. 2 dredge to realise their anticipations. After working up to nearly the top boundary with a narrow cut, and not finding anything payable, it was resolved to suspend dredging meantime. In consequence of the heavy expenses incurred in working No. 2 dredge, tho dividends for tlio year have been fewer. Still the shareholders will note that five dividends of Is each have been paid. The directors look forward to a result at least equally good for the current year. The gold won by the No. 1 dredge during the 12 months ended February . 2S was 20690z, and that from the No. 2 dredge 71oz, of a total value of £8357." The Chairman, in moving the .jdoption ol . the report and balance sheet, spoke of the . causes which had led the directors to cancel , tho engagement of their late secretary, and tho subsequent appointment of Mr John Davie, The books of the company, after a strict audit, had been found io be in correct and propel i order. In regard to fieir No. 2 dredge, they were at present negotiating with Mr Ander son, of Christohurch, and until the result ol those negotiations was known he would declint to say anything further on the matter. The motion for the adoption of the reporl and balance sheet was seconded and caniec unanimously. In reply to questions, the Chairman saic that efter paying the dividend they had jus! declared there was £100 in hand. This vra: apart from their fixed deposit of £890.' Somi small parts of machinery from the No. 2dredg( had been utilised for the No.' 1 dredge. Thf claim was so far hardlv half -worked through and would give fully fire years' work yet, providedj of course, it turned out payable. Mr J. P. Smith was re-elected director and Mr T. Chalmer was reappointed audito: at ihe same remuneration as last year. A hearty vote of tbanks and confidence it the directors ctosetf the meeting.