MINING.

Otago Daily Times, Issue 13637, 5 July 1906, Page 9

MINING.

Tlie retan from the Pslcrson's Freehold . >~i. 1 dredge la.-t week was ].".r--. sc!\vf. 'I'ho river Ilc-i51.il nbori tho noati-.i! m-.uk at . Aii-xaiiiirr; yrslorday morning ■■■,;■• Bft l.Uu. Willi tio «•■■"' I ho !■ niilii. /Wo micl*;!iw.:nl thai the Homing Light ' (;. nijviny has s-uapendr-d opsriviions pending ; the raising 0? further capital, probably 1.-.v ih'c 1 issuing oi debentures'or nthenvi-e. , 1 in ooii-!octlr.:i with ifiD Eic=ir;e ureses it' , J mi-y lie 11s v.cli t» siiic that the height of ' ! iiio river et Ai-w.-.udi-j ■is not a tciisble guide I io the height in the K-jwartiu. as at Hl2 pre- | j sent liino the Oiiitha, -Tiivor is considerably , j .lusher liian the Knwanwi. and it is tho former ! :i\ov thai is keeping up'ills river lit Alexandra : jusi now. The Alpine No. 2 dredge, which was some 1 thuo back moved up to a new claim on the C'uiha. liiver, is at present closed down, ; Mid tile probability is that a. scheme fer reconstruction will shortly receive consideration, The actual time worked V tho Sandy Point dredgo last week was 138 hours, The dredge was still operating on iho river side ot the cut, iiiitl wovked ahead 'for u, distance of 24ft. willi the depth 0! ground still about 20ft. Prospects during the week v.-eie very good. ; Dredging was slopped on Saturday, as already 1 wired. The Rise and Shine No. 1 dredgemaster re- ( ports as [ollows for last week:—"The dredge was pulled into the inner cut at the beginning of the week in order to iacilitato coiling, and has been doing dead work since. Fair returns should be got when the. paddock is . properly opened out: Part of the out could not bo bottomed owing to the high river." Tho report from the No. 2 dredge "is as fol- ; lows:— "'Worked' ahead 12ft, cut 270 ft. The silt caused a good deal of dead work, and the wash wns not quite so good as it hud been." Tho secretary ot the Nokonmi Hydraulic Sluicing C'onipwry .reports that the wash-up at the No. 1 claim was completed last week for 11 return of 150oj ldwt, and a wash-up at the Ko. 2 claim for 690z )9dwt, milking a total Df 22002 for the month of June. Sluicing off top material has been commenced at No. 1 claim, and a good amount of general work lias been done in connection with this paddock. The Punt dredgemaster reports as follows for last week:—" Dredging 128 hours; worked ahead 7ft; width of cut 100 yds; depth of ground west to awl 32ft. 40ft, 36ft; prospects about the same; groiuid not quite so rough and tight; button soft; sandstone find clay." The dredgemaster of the Rising Sun Company reports for the week ending June 30: " Dredged 125 hours, and worked ahead 10ft; .had to narrow the cut, as the river was high and the drift bad. The ground is slill.from ■15ft to 50ft in depth, anil the bottom hard white pipo-cjuy. !fhe dredge will be stoppe'.l on Monday To onaible the boiler to be cleaned out. Dredging will be resumed on Monday at midnight. Wo stopped nine hours to ship the new Hadficld bottom tumbler." At a general meeting of shareholders of the Deep Stream Amalgamated Company, hold yesterday afternoon, a liquidation resolution was carried unanimously. Mr W. T. Monk--1111111 was appointed liquidator. It is understood lhat an effort will bo made by some of those who are interested to form a "new company to purchase the assets and coituucnco work in tho upper fart of the claim, where, it is believed, better results would follow tlmn has been the caw during the later years of the company's existence, The secretary of the Rilev's Beach Company reports receipt of a report iroui the dredgomnster to the- effect that he got up. to where he intended 'to start 011 Saturday la.it, and that lie had a tiVrec hours' run out of tho machinery. The dceelgcniasler reported that every! bins worked well, and that ho intended to start regular shiits on Monday last. Says the Tuap»kii Tunes:--The Happy Viiilcy Sluicing Company (J. Sutherland and party) is busy faking out its first paddock at the rear of Messrs Tubman and Paulin's slaughteryard. On commencing operations the company was slightly hampered for water supply, and has partially overcome this bv the excavation of a «lam at the head of its Pipe line sufficient to hold water for eight hours' elevating. The .conraany shortly "intends building -1 reservoir at the head of ils race. It has 150 ft pressure, which should prove enough to work the ground, which averages about 15ft. Mr Jas. M/Knc-auv. who has hod considerable experience, is manm-or. .-ind under his control the shareholders'interests should be well looked after." The annual meeting of the Ladvsmilh Gold Dredging Company was held at lieu-burgh 011 1-nday last. Mr H. Veale, chairman of dire-'-ore, presiding. In moving (he adoption of ihe animal report and balance sheet, the Chairman stated he regretted the operations had not been more successful, but the prospects were now very good, and they expected belter returns and more dividends. The retiring directors, Messrs Veale and George,

were Te-electcd, as was also (lie auditor, Mr Hanies. A shareholder stated- that some of the shareholders were under an imm-ession that the balance of the capital was lo he called up. A rumoiir to that effect had been in circulation, and would affect the valuo of shares if not contradicted. The Chairman said he was decidedly against calling uu tho capital, and one of the vendors, when elected on the directorate, expressed no desire to call up the balance. It was mentioned that, the operations were being hindered, in common with other claims, by the extraordinary high river. DUNEDIN STOCK EXCHANGE. The quotations recorded at both call-overs yesterday were again very numerous, but. notwithstanding this, not a transaction was recorded. Thero was littie alteration oi unto in values, but, incidentally. Golden Runs and Hartleys were procurable at Ms anil 27s respectively; Molyneux Kohinoor contributing shares had buyers at 5s Gd and sellers at Gs Gd, and lfileya' Beaches buyers at 4s and sellers at 4s 9d. In investment stocks there was inquiry for Bank of New Zealands (ex div.) at £8 ]4s. A request lor Westpori Coals at £G 12s Gd had response at £6 14s. The following aro yesterday's latest quotations, subject to the usual brokerage:— Alexandra Bonanza—Buyers 3d. Alexandra Eureka—Buyers 6s, sellers 9s. Bignell's No Town—Sellers 4s Gd. Chicago—Buyers 12s. Dunsiuii Lead—Buyers 2s, sellers 4s. Enterprise—Sellers Bs. Ettnck—Buyers 2s Gd. Golden Bed—Buvers 10s. Golden Rim—Sellers 20s. Hartley and.Riley—Sellers 275. Island Block—Buyers -Is, sellers ss. Molyneux Hydrnulic—Buyers 3s 3d, sellers 5s 3d. Molyneux Kohinoor (paids)—Sellers Ss. Molyneux Kohinoor (contrib.)—Buyers Gs Gd, sellers Gs Gd. New Trafalgar—Sellers 21s, New Roxburgh Jubilee (paids)—Buyers 7s Gd. Perserverauco—Sellers lis. Riley's Beach—Buyers 4s, sellers 4s 9d. Sandy Point—Buyers 20s. vnrtKG. Talisman Consolidated—Buvers 21s, sellers 22s Gd. Nokomii Hydriulic—Sellers £14. lllrebtugh Amalgamated (contrib.)—Sellers 5s 3d. Waihi-Buyers £8 14s. sellers £9. INVESTMENT STOCKS. National Bank (new issue)— Buyers £4 17a, sellers £5. Bank of New Zealand (ex div.)— Buyers £8 lis. New '/inland Insurance—Buyers £3 16s, sellers £4 Is. -• Wcstport Coal-BtiVcis £G 12s Gd, sollerß £G lis. Milburn Lime (20s haid) —Sellers £1 ss. GndwrtW Pin-Sellers 4s 3d. New Zealand Paper Milis—Sellers £1 2s Gd. AUCKLAND STOCK EXCHANGE, tlfacu Our Ow.f Conr.E6rcKDKST.) AUCKLAND, July 4. The following were the sales on the Stock Exch-inee. to-dav:— V.'.iloiahi, £9 Is, '£9 Is Gd: Waihi. S&'W Gd. £S IBs. £8 17s G-l; T.iiismsu. £\ 2s I'd; Kmatini Caledonian, 25 7d; Wnihi Extended, -is lid. 4s lOd. 'I'lis following were the closing qiic-laiious: Kiiraiv.ti Caledonian—Sellers 2-S 7d, buyers 23 Gd: N'.'w May Queen. 3r, 2d and 2s lid; Victoria,, Is 2d intVls; Wiwtahi, £9 2s and f.l; Tainv.i Broken TWis. 2s.ld and Is lOd; Talisman. £1 3= and £1 '2* 3d: Waihi, £8 18s Gd and £3 17s Gd: Waihi Extended, 5s and -Is 9d. NOTES FROM ALEXANDRA. (FnOM Oim Ows Oorivrspokdbxt.) ALEXANDRA SOUTH, July 2. Tho weather is very mild for this -time of the y.-:Br—-slight' frosts at night, bnt mild, balmy days. Consequently the river keeps at . a high level, for the frosts are not sufficiently , keen lo store up the water on _ tho uplands. Tho river is now running at tho lift mark above normal, and apparently carrying a large iiiiimir.ii of debris. Should the weatner con-ii::u-3 an nii'.d in July as it did during June, then thero will' he no gorge dredging this year. Seme '.ini!- ago 1 advocated the amalgamation oi the gorge dredging companies, and Ibc construction of an exceedingly powerful dredge to work the gorge in a face, and until this be done the gorge will be nothing leas than it striiigcr-on and a swnHowpr oi sliarcuoide-s' money. The present small'dredges !ue quite unable to eoiitond against the running drift when a slight rise in the river takes plsee. Then, again, thete is mors limierial to lift than there was in former years, 'as the bed of the river is gradually being silled up; hence the level of the flowing water is considerably higher than formerly, and the normal of 20 years ago is not the normal of to-day. The Moa is waiting a low river to drop down to Italian Bend, where dredging will be recommenced. Tho Alexandra, Lead continues to work very steadily, the ground being not difficult to operate on. The returns ore not dividendpaying ones; in fact, if they meet working expenses it is about as much as they do. The Golden Beach has had a. complete change of crew. The new manager is Mr L. Anderson, late of Hie Manuherikia, a,nd a good man, 100. He was tho first nmiager of the Golden Beach, and now he returns to his first lovo with ripened experience in managemeht and gold-saving knowledge.