MINING.

Otago Daily Times, Issue 13653, 24 July 1906, Page 6

MINING.

The river height on Saturday morning was 7(1 3in abovo the normal mark at Alexandra. The weather continues frosty. The Three-mile (Greenstone Creek) dredgemaster wired yesterday that he had run into old workings last week, consequently there was no wash-up. Solid ground was "making again. A meeting of the representatives of all companies and private parties engaged in the gold industry in the 'Mataura and Gore districts will be held at the Southland Hotel, (lore, on Saturday. 28fli inst., at 1.30 p.m. for tho purpose of discussing the gold charges, the proposed gold duty, and the workers' demands. Tho meeting will be held under the auspices of the Otago 'and Southland Gold Mining Industrial Union of Employers. During tho wool; ended Monday, July 23, returns wore reported from 33' dredges, die total yield being .8950z 7dwt logr, or an averago of 270z per dredge. The (Mr J. A. Yu'.c, Gore) wires as follows:— Vaimumu Queen, 2toz for 130 hours; Royal Waimnmu, Boz ladwt for 132 hours' work; Waikaka and Waikaka Queen, both repairing. The return of Bdwt Hgr of gold per ton obtained from the assay of a samp'.e of black snnd taken from the Rise and Shine Company's claim, as mentioned in our issue of yesterday, was, it should bo explained, obtained aficr the sample had. been passed timmjii a 30-mesl) sieve, leaving for assay 20 per cent, of sample, and from this the abovementioned return was obtained. The sample submitted to .Mr D. B. Waters weighed 20ib. and assayed as a whole gave 2dw't 19gr of sold and P.dwt Cgr of silver. The rample, therefore, contained gold equal to libont liUoz to the ton, which must be regarded .■■> v cy favourable.

A Wcslpiit telegram states that the Westporf ','o.i! Compaiiv's ontmit of coal k'tst' week was Ui«s tons 12swt. Wo are informed that the good ground which the Otago Xo 5 dredge has been working Ut<:!y was a, narrow strip lclt'over when

the river was too high lo work it. Last week saw this strip of ground finished, and the. dredge therefore had to be shifted to other ground. The .Rising Sun dredgemasier reports as follows for last week:—Dropped dredge back into the old cut on Saturday, Dredged 12S hours, and worked ahead 20ft. Two days were spent in baling out the paddock. There is no drift running, 'flic-ground is deep, but shows signs of improvement, thero being a tight layer a few feet above, tho bottom, which is rising in the west corner. Having only one corner to lake out, tho returns should be fair. Tho machinery is running well. DUNEDIX STOCK EXCHANGE. Yesterday morning's market opened with fairly general inquiry fo r mining and investment scrip, but with still the samo tendency for wideness in quotations. Consequently onlyone sale was put through for the call-overs, the stock to furnish the transaction being Golden Bed and the price 13s Gd, buyers' prico of Saturday. Holders of Electrics worn again demanding 255. and Golden Rims were unaltered in price, Pactolus shares displayed, a hardening tendency, buyers offering 35s 3d." an advance of Is 3d on Saturday's price, with holders quoting at 38s. The firming noted is doubtless due to the splendid returns from the two dredges for last week, the total of which was a shade over lOOoz. Sailor's Bends commanded better inquiry nl 10s Cd. and holders were content lo accept a figure Gd lower than that asked at the close of last week. The returns for the past wenk, numbering some 30 in all. are individually, with but very lew exceptions, pcor. but the exceptions—Olago No. 2, Masterton! Mystery Flat, and Golden Bed—have had the effect of producing a total which shows a slight improvement on those of the past month, and with a continuance of frosty weather, and accordingly a fal'.ing river, the total is likely to undergo still further betterment.

A salo was made yesterday in Goldon Bed shares at 13s Gd. Tho following are 'yesterday's latest quotations, subject to the usual brokerage:— Alpine No. 2—Sellers '4s. Bigiiell's No Town—Buyers 2s 9d. Chicago—Sellers 15s. Dunstiin Lead—Buyers Is 9d, sellers 4s. Electric—S'ellers 255. Enterprise—Buyers ss, sellers 7s. Ettrick—Buyers 2s 9d, sellers 4s 9d. Goldon Bun—Buyers 14s, sellers 16s. Island Block—Sellers ss. Molyncux Kohinoor (contrib.)—Buyers 5s Gd, sellers 7s. M-ystcry Flat—Buyers 235, sellers 30s. New Bendigo—Buyers Is. New Trafalgar—Buyers 17s Gd. sellers 20s. New Roxburgh Jubilee (paid.)— Buyers 3s. sellers 7s 6d. No Town Creek-Sellers Its Gd. Pactolus—Buyers 33s 8d sellers 38s. Riley's Beach—Sellers Is. Riso and Shine—Buvers 19s Gd, sellers 20s Gd.

Sailor's Bend—Buvers 10s Gd, sellers lis Gd. Sandy Point—Buyers 21s. Miming.

Roxburgh Amalgamated (contrib.)— Buyers ss. Wajhi—Buyers £8 17s. Big River—Buyers 3s, scMers ss. Talisman Consolidated—Buyers 23? Gd sellers 21s. INVESTMENT STOCKS. "* Bunk of New Zealand—Buyers £8 13s, sellers £8 17s. National Insurance—Sellers £1 Is. Standard Insurance—Buyers £1. Wostport Coal—Buyers £6 15s, sellers £G 17s.

New Zealand Oil and Coal—Buyers Is ad, sellers 2s Gd. Commercial Property—Buyers Gs. National Mortgage—Buyers £3 Os Gd, sellers £3 3s. . Milbum Lime (20s paid)— Buyers £1 4s, sel'lcrs £1 is Gd. Milbum Lime (10s (Mid)— Sellers 12s Gd. . Mosgiel Woollen—Buvers £i 19s 6d,' sellers a ss.

New Zealand Drug (40s paid)— Buyers £2 7s se'lors £i Bs. New Zealand Portland Cement—Sellers £1 lls9d. New Zealand 'Portland Cement (new issue)— Sellers £1.

AUCKLAND STOCK EXCHANGE. (From Orju Own Correspondent.)

AUCKLAND, July 23. Tli3 following were the sales on the Stock Exchange to-day :—Kurmnti Caledonian. 2a sd; Talisman, £1 is 9d. £1 3s 9d. £1 4s; Waihi Extended. 4s lOd. Is 9d; Waihi. £8 17s 6d. £8 17s; Waiotahi. £7. £1 Is, £7 Os Gd. The closing quotations were:—Kuranni Caledonian—sellers 2s Gd buvors 2s 4d; New May Queen-sellers 3s buyers 2s lOd; Victoria —sellers Is. buvers 9d; Waiofahi—Kellers £7 2s. buvers .£7 0s GdjTaima Broken Hills-sellers 2« lnrl, buvers 2« 7d: Talisman—=el'ers £1 4s 3d Buyers £t 4s; ffai'u-ce'lers £8 17s Gd. buyers £8 ]Gs; Waihi Extended-sellers 4s lOd. buyers 4s Bd, CROMWELL JTOTES. (From. Our Own Correspondent.) CROMWELL, July 23. Hard frosts last week have sent the river down considerably, and if they continue this week, as there is every indication tfliey will the river should be at a low level, and the gorge dredges should be able to get a start. There is no drift running in tho Kawaraii. The river is still a good deal too high for the Alpine Consols to get a start, as where the dredge was engaged when work ceased it was very deep ground. The Hartley and Riley had a slight breakdown on Friday last, and will piobably net get. started again till Wednesday.

Both tlie E'eelric dredges made a start last week. They bottomed all ri*t. and there is no drift at a,'l. and it appears as iF fhe hi°h river had given the drift a good "muring out. The New Cromwc'il dredge has been waiting for a favourable river and pWcd ]a„t night awl should have little difficulty in getting bottom now. The B'.sb and Shine dredses are on very p-or ground art present, but it will likely improve t"iq week. TV R'>insr Sim d'-edcre dropped haek into ■hv riv o - out, and tho returns will now continue gfod.

Ti'o RiW' Beach p,vi R o viv»i dredges are waiting for their tumb'ers to arrive.

THP) WFRT COAST. (Fno« Orjß Otrv r'rTOiuspnvr.T.vf) GREYMOUTH July 23 Tho Slab Hut dredge got 18os for four and a-ha'f days' work. A good deal of lime was ■ost in removing silt, tho wash is easily treated, and. with a good week's run, an inciwo should be recorded.

The Creek No. 2 dredge had a run on Saturday, when everything went satisfacIt is intended to start gold dredgiii* operations in earnest on Thursday next. ° ° Boring fo r oil is still going on at Kotuku. and much moro rapid progress is being made than was the case,a month or two ago. Mr Smith, who is in charge, is now in good, firm rock, having got through the loose sand and pug that gave him so much trouble a short time ago. The bore is now down 4G2ft, and quite recently he passed through a black substauco which is described as petroleum jelly, and regarded as an unerring indication of the existence of petroleum.

NOTES FROM REEFTON. (From Our Own Coreespondent.) ■ REEFTON, July 23. A very rich stone has been struck in the Go'den Arch claim, at Capleston. The stone h said to bo tho best yet taken out of the claim. Mr Mayuard. one of the debenture-holders in the Reeve?'s Proprietary dredges, has just paid a visit to the claim "at Capleston. He had a rough look over the ground and it is believed that he will recommend that the Mcrrinmc dredge be worked upon a prospecting tour to the top end of the claim or else taken up in sections. The Consolidated Company is about to erect machinery for hauling and pumping at their new find at Blackwater, over which they have an option.