MINING.

Otago Daily Times, Issue 13586, 7 May 1906, Page 9

MINING.

■ ... I The Lady Kovburgh dredgeniaster washed ■ up 30;z for las'. week. Dredging was resumed on Friday evening. Tiie directors of the Rise and Shine Com--1 pany have declared a dividend (the sixth) of Is pev share, payable to-day (Monday). • The Molyneux Kohinoor dredgomaster wires having washed up for a return of 990z 16dwt; tioubled with drift. ! Tho master of the Rise and Shine No. 1 '• dredge reports that prospects last week were gcod. , Tho secretary of the Molyneux Hydraulic , Company wires a return of 230z for eight clays' ■ work; ground deep; dredgo working steadily. Tho secretary of the Chicago Company re- ■ ports a return of 2(bz 13dwt 3gr for 130 hours' ' work; drift very bad. Tho secretary of the Rising Sun Company wires a return, of 2ooz for 133 hours' dredging. The river was flooded all the week. Tho master of the Paotolus No. 1 dredge | was last week engaged repairing the boiler. The return from the No. 2 dredge was Uoz 7dvrt for 8G hours' work. A Westport telegram states that the Westport Coal Company's output of coal last week was 11,700 tons lOcwt. THE WEEK'S DREDGING RETURNS. ] During the week ended Saturday, May 5, ! returns were reported from tho following dredges:— Oz. dwt. gr. Molyneux Kohinoor, Roxburgh., 3!) 15 0 Masterton, Waikaia, 248hrs .. 97 10 0 Rise and Shine No. 1, Clutha Rivor. 137hrs '. " .. 71 2 0 Golden Bed, Miller's Plat, 128hrs 65 12 0 > Waikako. United No. 1, AVaikaka, 1281119 . 64 1G 0 Muddy Creek, Waikaia, 123hrs .. 43 19 0 Siuidy Point, Alexandra, 112hrs .12 17 0 Lady Roxburgh, Roxburgh, wk., 30 0 0 Otago No. 2, Island Block, 131hrs 20 0 0 Otngo No. 1, Miller's Flat, 138hrs 27 0 0 Enterprise, Alexandra, 13Ghrs .. 25 21 3 Central Charlton, nr Gore, lS9his ; 25 11 0 Golden Run, Miller's Flat. 132hrs 25 10 0 Lady Annie, Waikaia, ISOhrs .. 25 7 0 Royal Waimumu, Mataura, 2531 its .. .. 25 5 0 Rising Sun, Clutha River, 133hrs 25 0 0 Hessey'a Waikaia, 190hrs .. 24 13 0 Perseverance No. 2, Alexandia, 11 days 24 3 0 Waikaia, Waikaia, 123hrs .. 23 6 O Olrig, Mumiherikia, 128hrs .. 23 1 0 Molyneux Hydraulic, Alexandra, 86hrs • '. 23 0 0 Alexandra Euroka, Alexandra, i days 22 19 0 Rite and Shine' No. 2, Clutha River, l.TChrs 22 2 0 Waikaka United No. 2, Waikaka, 122hrs 21 17 0 Chicago, Alexandra, 130hrs .. . 20 13 3 Waikaka Queen, Waikaka. 130hrs 20 13 0 Waimumu Queen, Mataura, 122hr3 . .. .. 19 14 0 Golden Gate, Miller's Plat. sdys 19 12 0 Junction Electric, Cronnv-ell .. 39 2 0 Garden Gully, Waikaka, Gdavs.. • 17 15 0 Golden Treasure, Miller's Flat, 129Jlirs 17 10 0 Direstan Lead, Alexandra, broken week .. i 1 17 4 0 Waikaka, Waikaka, 123hrs .. 1G 13 0 Clutha River, Clutha River, llflhrs .. 1G 2 0 Charlton Creek, nr Gore, week.. 15 3 0 Total 1117 1 G Tiie West Coast. Pactolus No. 3, 86hrs 44 7 0 No Town Creek. I23hrs .. .. 3G 0 0 Bignell's No Town, 127hrs .. 27 3 0 Blackmater River, 126hrs .. 22 G 0 New Trafalgar, 122hrs .... 20 0 0 Total .. .. . 149 1G 0 DUNEDIN STOCK EXCHANGE. The Molyneux River showed an appreciable fall on Saturday morning, the height abovo normal mark at Alexandra, then being lift llin, a difference of Ift 6in front the previous day's level, Tho weather was reported to bo cold, and, should the frosts-Ret in, a steady subsidence of the flood ir.fly bo looked for. It has, however, boon proved over again that to prophesy with regard to tho Molyneux River is unwise, but at -pit. s?.me time it must be remembered that the reason is now well advanced, and that if the gorgo dredges are to get in any profitable work at ail a Vlart will require to bo made very shortly. Saturday morning's market was quiet •;« tone, a-ttf nroductive of two transactions in one stock. The stock referred to was Molyneux Kohinoor. and the sales in the contributing scrip at lis 9d and 12a. Values in' this particular staii: showed really no alteration as compared with the previous day. but the past week's splendid return of 990z should be responsible for some move in that connection. Golden Beds displayed a further easing, buyers quoting at 18i 3d and sellers at 19s Gd. Inquiry for Golden Runs at 18s Gd found holders at 21s. The return from the Golden Run dredge last week was 25Soz. There was a request for New Fourteen-mile Beaches at 16= p., but no declared holders.' Investment stocks were accorded more than ordinary notice. Sales made on Saturday wereMolyneux Kohinoor (contrib.), lis 9d and 12s. _ Tho following are Saturday's quotations, subject to tho usual brokerage: — Alexandra Enrekc—Buyers 7s Gd. Alexandra Lend—Buyers 3s, sellers 4s 3d. Chicago—Buyers 14s. Electric—Buyers 24s Gd, sellers 28s, EntCTDrisc—Sellors 8s 9d. Filirick—Sellers Gs Gd. First Clmr.cc—Scllere 13s. Golden Bed—Buyers 18s 3d sellers 19s Gd, Golden Run—Buyers 18s Gd, sellers 21s. Hartley and Riley—Buyers 245, sellers 27s 6d. Island Block—Buyers 4s Bd. (sellers 5s Gd. .Tunction Electric—Buyers 2s, 'ellcs 2s 6d. Molyneux Hvdraulic—Sellers 5s Gd. ■ Molyneux ICohinpor (paid)— Buyer* 13s lid. sollerg 14s 3d. Molynenx Kohinoor (contrib.)—Buyers lis Gd, sellers 12s. Mystery Flat—Sellers 305.Muddy Creek—Buyers 365. Xcw Alpine Consols—Buyers lis, sellers 12s. New Bend'igo— Sellers lis. New Fourleen-mila Beach—Buyers lGs p. Olrig—Buyers 3s 3d, sellers Gs." Rising Sun—Sellers 21s Gil. Riley's [Beach—Buyers 3s Gd, sellers 4s Gd. Ri=e and Shine—Buyers 21s. sellers 225. Sailor's Bend—Buyers lGs (id, sellers 18s Gd. MININC. Victoria—Buyers lid. New Four-in-Itr-'id—Buyers Is. 'talisman Consolidated—Sellers 2Gs, Big River—Buyers 3s Gd, sellers 4s Gd. Keep-it-Dark—Sellers 31s, INVESTMENT STOCKS. National Insurance—Buyers £1 4s. New Zealand Insurance—Buyers X 3 17s. Standard Insurance—Buvers" ISs Gd, sellers 19s Gd. Union Steam Ship Company—Buyers i'lG 12.1 Gd. rollers f 10 17s Gd. National Mortgage—Sellers £3. Perpetual Trustees—Buyers 17s 9d. Milburn Limo (20s imidl—Sellers il Gs. Mosgiel Woollei!—Buyers £2' 10s Gd, sellers £2 13s. New Zealand Drug (£2 paid)— Buyers £2 Gs 3d, sellers 7s Gd. Godward's Pin-Buyers 4s Gd, sellers 4s Gd. RISE AND SHINE GOLD DREDGING COMPANY. ' The following report for . the year ended March ,11 will be presented to shareholders in the Rise and Shine Gold Dredging Company at the sixth annual general meeting:— " Fairly steady work has been.done by both dredges, but tho cost of working has been on a sopicrchat higher scalo than that of tho previous year, notwithstanding a saving effected in the consumption of coal through a slight alteration to the engines. Four dividends of Is each were paid during the yenr, and since tho close a fifth Ims been declared, and a modest start made towards establishing a reserve fund, which it will be the endeavour of tho directors to increase, as opportunity presents itself during tho coming year. The expenses incurred during tho year amounted to . -EB27G !3s Gd, as against fSO94 7s 3d last year; but this year's expenses included several costly duplicates which it was found necessary to provide. It must, however, bo recognised that work in the Clutha basin will always be costly, as the ground is deep and heavy, and lignite very expensive. Both dredges arc in good order at present. Your directors have thought it wise lo take up the area, previously known as the Sunshine clniiu. and this will, no doubt, add materially to the longlh of the life of the company, as the unrorked area of tho combined clnims will now comprise IGO acres." The value of the gold production during the 12 months ended March 31 was £10,513. On ; March 31 there was cash at the bank to tho ( amount of .{4GG, and £C 0 in the Savings Bank, ' while the value of the gold in transit, amounted i to £331. Sundry creditors totalled £761. ' THE WEST COAST. j (FHOJI OUR O.WH Oorresponokkt.) s GREYMOUTH, May 6. : The Pactolus Company's No. 2 dredge only 1 got ill 8G hours for 440z 7dwt, the bottom wash < still remaining rough. The Pactolus No. 1 | dredge is repairing the boiler. ( Bignell's No .Town dredge obtained 270z | : 3dwt. Submerged timber cotises a great deal of ] i trouble. t Tlio No Town Creek dredge washed up for s "Goz. The ground shows good signs of inn- 1 provement. c Hie B'.ackwater River dredge obtained 220z i i 6dv;t for 126 hours. Tho wash should improve ' t this week, . j 1

Reports are current of the discovery of very rich stone at Blackwater.