MINING.

Otago Daily Times, Issue 13642, 11 July 1906, Page 6

MINING.

Tlio river height yesterday morning was 9it Uin above the norma! mark at Alexandra.. Heavy rain was experienced during the. night. The secretary of the Patcrson's Freehold Company reports the following returns for last week:—No. 1 dredge, 13oz 17dwt; No. 2 dredge, 13oz sdwt. The HesEcy's dredgemaster reports a good run for last week. There was a slight' improvement as compared with the previous week, the ground becoming slightly rougher. A stoppage was made on Friday to put lobars in the drop chute, etc. At the commencement of last week the ground treated by tho Molyncux Kohinoor dredge wis very rough, but towards tho close it became much easier to work. The bottom was a pipeclay formation, and was still keeping high inside, aid what gold was being obtained was very rough. Tho machinery was running in first-class order. The secretary of the Nokoniai Hydraulic Sluicing Company reports that at No. 1 claim sluicing off the top materia! was commenced on the 2nd inst., end about 30ft of stripping disposed of; while derating was resumed on the 7th, and satisfactory progress is being made. A large amount of work has been done in connection with the barrier dam ou the creek. Eight chains in length U3s liecu completed, and the creek .is now confined in tho new channel. About two chains more will finish the work, when tho head wing dam will be started. • About two days' work will see this cprapletei Tie

work is of a lasting character, and the chances of damage from floods will be small. At No. 2 elevating was resumed on Wednesday last. Tlie manager proposes to take a large paddock this time. The ground met with is stony, with ft hard cement, and progress is somewhat slower in consequence. ■ Some two years ago (says the Mataura Ensign) the directors of the Wairnumu Queen Dredging Company wcro' induced to supersede tho steam plant on the dredge with two oil engiues, each of 25 horse-power capacity. The makers oi tho cnginos guaranteed that the consumption of kerosene would not exceed a certain cost per Lour. This limit, in actual working, however, for some reason, proved too low, the cost consequently being greater than was guaranteed by (he makers of the plant. A disputo arose between tho company and the vendors of the engines, and for a considerable lime, no, settlement could be- arrived at. Eventually, however, it was agreed to institute a test of the engines extending over 300 hours, this to bo conducted by the manufacturers' experts in the presence of tho dredging company's representatives, both parties to. stand or "full by the results so ascertained. Tho, lest, which commenced on Monday, is exciting considerable attention in dredging circles all over the district.

DUNEDIN STOCK EXCHANGE. The share market continues in an intensely monotonous slate, and one call-over is to a great extent merely a repetition of another. Yesterday both sittings passed off without a sale transpiring, but inquiry—more especially for investment stocks—was just a shade more general. As a matter of fact, a vary fair amount of business is being effected in this class oi stock, bnl the broker responsible for tho same evidently prefers to effect, his transactions outside of the call-l-oom.

The following are yesterday's latest quotations, subject to the usual brokerage: Alexandra Eureka—Buyers 6s, sellers Ss Gd. Alexandra- Lead—Sellers 4s. Dimslan Lead-Buyers Is 9d, sellers h. Electric-Sellers 2Gs. Golden Bed—Buyers 10s, sellers 15s. Golden Run—Sellers 16s. Hartley and Biley—Buyers 20s, .sellers 2Cs, Island Block—Seiicrs ss. Manuherikia—Sellers 225. Molyneux Kohinoor (contrib.)—Sellers 6s. Muddy Creek—Buyers 30s, sellers 37s (id. Olago—Buyers 40s. Perseverance—Sellers 9s. Riley's Beach—Buyers 33 9d, sellers 4s Cd. Rise : andShiric—Buvers 20s. Rising Sun—Sellers 19s. Sandy Point-Buyers 20s. Minixo. Roxburgh Amalgamated—Buyers 4s 4ld, sellers ss. Talisman Consolidated—Buyers 21s fid, Big River—Buyers 4s, sellers 5s 9d. • INVESTMENT STOCKS. National Bank (new issue)— Sellers £4 ISs. Bank of New Zealaud—Sellers iS 17s bd. National Insurance—Buyers 23s 9d, sellers 24s 3d. Standard Insurance—Buyers 19s 3d. Weslport Coal—Buyers £6 13s, Gd. New Zealand Oil and Coal—Buyers Is 3d. Commercial Property—Buyers 6s. National Mortgage—Buyers £3. Gear. Meat (i' 4 paid)— Buyers £2. Milbutn Lime (20s paid)— Buyers £1 3s. Mosgicl Woollen—Buyers £2 14s. Godward'.s Pin—Sellers Is Gd. Donaghy's Rope—Buyers £7 Ds Gd. D.I.C. (prcf.)—Sellers 2s 3d.

AUCKLAND STOCK EXCHANGE. (FrtOH OOE OwS CORBESPOXDENT.) 1 . AUCKLAND, July 10. The following were the sales on the Stock Exchange to-dny:— Talisman Consolidated, £1 2s 9d; Waiot'alii, £8 Is, £8 Gs 6tl, £8 6s. £8 3s 6d, Warhi, £2, 14s; Waihi Extended. 4s. IW. The'following wero the closing quotations:— Kuramii Caledonian— sellers 2s Gd, buyers 2s sd; New' Mav Quisen—sellers 3s, buyers 2s 7d; Waiotahi—sellers £8 4s, buyers £8 3s Gd; Tsiraa Broken Hills—sellers 2s sd. buyers 2s 2d: Talisman—sellers £1 3s, buyers £1 2s 9d;- Waihi—sellers £8 14s, buyers £8 13s- 6d; Waihi Extended—sellers 4s lid, buyers 4s lOd.

NOTES FROM CROMWELL. (Fkoji Ourt'Own Cokrespondf.kt ) CROMWELL, July 10. The weather is stiil very mild and changeable. Yesterday we had a howling northerly gale and heavy rain during the night; consequently the river is up considerably to-day.

There is very little uew,s to chroniclo as regards dredging, as a very large number oi the machines are stopped on account of the high river. There has been a good deal of snow to-day on the high country, and the weather may now clear up and hard frosts set in. otherwise tho prospect of some of the dredges getting lo wark this season will be a poor one. It has been a splendid winter for stock, and the losses will be very light in this district. THE AUCKLAND MINES. An Auckland telegram states that during the past four weeks the Auckland mines have produced gold,worth £101.721. This completes the output for the half-year, and- the value.is £600,428, an increase of £173,005 on the first six months of la-st year, and the largest, output for a half-yearly period since Hie early days of the Thames "field.