MINING.

Otago Daily Times, Issue 13665, 7 August 1906, Page 6

MINING.

The river height yesterday morning was Gil above the normal mark at Alexandra.

During the week ended Monday, August C, returns ivero reported from 33 dredges, (lis total yield being lOiooz Odwt lSgr, or an average of 31oz per dredge.

Tho master of the Rising Sun dredge reports as follows for lost, week:—" Dredged 121) hours, and worked ahead 20ft. 'riie ground got deeper, and therefore caused u, little falling otf in tho return. The depth now ranges from 15ft to s:>it, with a hard pipeclay bottom. Tho gold was much liner than -that of the previous fori night. I had several stoppages to put in new iadder line and do up tho elevator housing and wearing plates." The Impciial dredge, Waitahuna, has been closed down for r. fortnight, during which time a new top tumbler has been shipped, tho ladder replaced, and other necessary repairs effected. The dredge has been doing a lot of dead work of late, but the prospects at present are said to be fairly encouraging Tuapeka Times,

Says tho Orepnki Advocate: "A little activity is being displayed at present in mining matters. A Dunedin firm lias four men engaged prospecting the spurs at tho foot of the Longwood. A local company intends to work the bench between Kalis Creel; and Kaitaugata Poini, and a Dunedin syndicate will shortly start prospecting operations on Pallia Flat to test it for dredging." An Auckland telegram' slates that during July the New Zealand Crown mines treated 200 tons ore for » yield cf bullion valued at £3381.

A Gieymouth telegram states that the coal exports for the week ending Saturday weie: Siato mine. :Ul3 tons Ucwt; Tyneside mine, 1022 tons Ccwt; Blackball mine, 2076 tons llicwt; —total, G513 tons lGewt.

DUNEDIN STOCK E-XCHANGE. Tho share market opened quietly yesterday morning, and although quoting 'was fairly general, nothing further transpired from tho two call-overs than tho recording of two transactions, both in investment stocks. Of individual stocks, Golden Beds displayed a noticeable firming, buyers Quoting at 133 M and sellers at 155.. Golden Runs had buyers at lis, and sellers at IGs Gd. Mysterious had moderate notice on a wide market, and an inquiry for New Alpine Consols at 7s 6d failed to meet with response. Inquiries were made for Mystery Flats at 28s and for Pactoluses at 38s, but without result. In investment stocks a sale of New Zealand Coal and Oil shares took place at 2s, while New Zealand Paper Mills furnished a transaction at 22s 3d. Tho Molyneux River has now reached the 6ft above normal mark at Alexandra, but has been falling very slowly indeed. A fall of about another 2ft should see the gorge dredges at work, but owing to the extreme lateness cf the season it is ■ hardly likely that the dredges will be ablo to put in more than a very few weeks' work. That will, however, be quite sufficient to permit of enough gold being obtained to tide the companies so situated over the period which will elapse before the following season arrives. Returns for the past week show a further improvement as compared with the previous week's. The Msytcrton dredgo heads the list with 112oz, odd for slightly over a full week's work. Tho Master'on dredge has, as the last few returns will show, squared up the face and worked up the poor ground, and is now operating on good ground adjoining the Mystery Flat boundary. Good solid returns can be expected from the Masterton drodge for the next I' 2 months at lesst. Other returns figuring largely on the list for last week are the Golden Treasure with 8207,, tha Otago No. 2 with 70oz, tho Golden Bed with si!oz. and the Mystery Flat with 5207„ Tho Mystery Flat dredge is obtaining the best, gold from about two chains sdjoining the Masterton claim boundary, and the probability is that sho lu.s now struck the Masterion Company's lead. Tho West Coast total shows just a slight falling of! as compared with tho previous week, but nevertheless there are somo good yields, such as those from the two Pactolns machines, which are remarktbly consistent in their weekly returns.. Sales mule yesterday were:—New Zealand Coal and Oil, 2s; New Zealand Paper JElk, 22s 3d. The following arc yesterday's latest quotations. subject to the usual brokerage: — Alexandra Lead—sailors 4s. Biackwater (eon-trib.)—Sellers par, Dunsiau Lead—Sellers 3s 6:1. Electric—Sellers 2Gs. Enterprise—Sellers 7s. First Ohance—Buyers 2s. Golden Bed—Buyers 13s Gd. sellers 335. Golden Run—Buyers Hs, sellers 16s Cd. Island Block—Sellers ss. Jlasicrton—Buyers 41s, sellers 61s. Molyneux Kohinocr (cont-rib.) —Sellers 6s. Mystery Plat—Buyers 28s. New Alpine Consols—Buyers 7s 6d. New Bendigo—Buyers Is. No Town Creek—Buyers 12s. Pactolus—Buyers 3Ss. Riley's Beach—Buyers 3s 3d, sellers sa. Rise and Shine—Sellers 20s 9d. Sailor's Bend—Sellers lis 6d. Sandy Point—Buyers 21s. Mining. Nokomai Hydraulic—Buyers 235. Roxburgh Amalgamated (eontrib.)—Buyers 6s, sellers 7s. • Kuranui Caledonian—Buyers 2s Od. Talisman Consolidated—Buyers 23s Gd, sellers 24s 6d. INVESTMENT STOCKS. National Bank (now issue)— Sellers £1 17s Gd Bank of New Zealand—Sellers £8 15s. New Zealand Insurance—Sellers £4. Standard Insurance—Buyers 19s 9d, sellers £1 fts 3d.

Xcv Zealand Oil and Coal—Buyers Is 101 d, sellers 2s 3d. Miosgiel Woollen—Sellers £3 4s. Xow Zealand Drug (10s paid)— Sellers f'2 8s

Gi D.I.C. (pref.l—Buyers Is 1053. peters 2s Gd. Dunedin Siock Exchange Proprietary— Buyers £2 4s.

THE WEST COAST. (Fsoit Our Own Corbespondeht.)

GREYMOUTH, August G.

The current quotations for dredging scrip are:—Bignell's No Town, 3s to 4s Gd; New Tiafalgar. 19s Gd to 22s Gd; No Town Creek, Us Gd toils Gd; Pactoius, 38s; Nelson Creek, lGi The- Slab Hut dmlgo, which has been working excellently since the overhaul, got 31oz last week. The dredge was operating in ground that bad been previously trea-ted, otherwise the return would have been larger. This ground should be got out of in about a month's time, whe-n increased yields are confidently expected. The New Feddcrsen dredge got 250z for 10D hours,' which is considered highly satisfactory. The dredge is working 011 a likelyIceking strip of beach.

■Whilst crushing operations were- going on at the Consolidated Progress mil! on Friday afternoon about 3.30, at Crnshington, a rather serious mishap occurred. The stamper box was blown into pieces, and tho grating blown completely acroS3 the building, and the cog of the stamper box was blown into matchwood. Tho young man in charge of the gratings luckily had just, passed the stampc(r box previously to its exploding. It is surmised that a plug or a chargo of dynamite had coino from the mine over the aerial line and passed into the stamper box, hence tho explosion! The box is completely ruined.

Wanganui shareholders in the Garden Gully Company have passed the following resolution—"That the resolution passed at a previous meeting giving instructions to the solicitors lo repudiate, on behalf of the Wanganui shareholders, r.ny further liability in respect of calls, and to take such action as may be iK'roed Accessary to protect the interest of Wanganui shareholders, be given effect to."