MINING.

Otago Daily Times, Volume 13696, Issue 13696, 12 September 1906, Page 6

MINING.

Xo word came through yesterday regarding the height of (lie Molyneax River! The previous norning the height wt-,7ftlin above tho noißial mark at Alexandra, end, in tho tibssjicu ol licit, it is uniikc.y that there is anv materia! drop. The secretary o! the Now Roxburgh Jubilee Company received a. wive .yesterday stating that salvage operations at the dredge have resulted m five buckets dsjij secured. The work is proaoediau satisfactorily. In (ho Barswood mir.o during the month of August 510 tor<s cf stone were treated. Tho yield wr-s 101o?, Gdwt. ' The Jbsicrton Company's dredgemasier reports that last week's return was mosilv from the western cut. All was working well, and the wash stili looked promising. Tho mast.-- o; the Ikssey's drtd»o reports that he had a good run lor the 'week. Ho expected the ground would soon improve, as he ha/1 worked fc> within a chain «,nd a-hr.li of the good ground. All tlu machinery was runnitir >vc!'., hut some of the bucket links will scon require to be rebushed.

The secretary of .the Paterson's Freehold Company reports'that tho Xo. 1 dredge obtained titlo,-, iidvrt for the. week, and the Xo. 2 dredge 21m !s;iwt for '.he- week. „ ■ ■ The'master of the Waik'aka dredge reports a steady week's run up to Saturday lost. . He was working in the west section. "Since turning the dreiigo until last Weduesdav tho ground was deer, and drifty, showing a scouredout gutter, which wa3 traceable right down the flat. .When this was passed through the grouud riiowed an immediate improvement. The dredge had dropped all tile main :faco, and was working narrow nreuaratorv to turning rcuntl towards the cmiUiy.. The bottom formation was of " ruaori," and tho depth of the ground was about 2ofl. Ai! tho gear was running weli. Tho secretary of ihe Xokcmai Hvdraulie Sluicing Company reports that at A'o. 'l elevator washing-up was completed on Saturday, the result being Oiaz 13dwt gold. The nest paddock will be towaids the west, where the wash looks well. Sluicing will probab'v lis resumed on the "12iii. Water vt«3 slack for

'ho last four days, but rain fell for eight horns, accompanied with snow on Ihe hilltous, and helped matters considerably. At Nc." i elevator rain fell all day on Saturday, and the dam is full. Sluicing continued all week, and good nrogress was made, considering the Katun of tho ground. Tho lower tumbler bushes of the Kttrick ciredge gave way on Thursday niorniug of last week. New ones had been previously ordered, and were to arrive earlv this week, 'when the dvedgo would start working .again. Tho wash-up for tho four days was for Ooj of gold. The ground continues deep. '

_ The following items are from His Dnnslais limes:—'" The New. Perseverance ZCo. 1 resumed dredging on Friday lasl.-Tho o!u luldaro Hill claim nt- St. Balkus is being worked by the Scandinavian Coiupanv.—Tho Monte Christo was idle for tho greater portion of last week, but is now working steadily. 1 respects nro good.-The Mntau was slopped early last week cwing to a pinion wheal getting stripped, and her return was onlv for a couple of days' work. Drtdgiiur wiil probably bo_ scsuincd to-dny.-The 'dismantling of the Wee Aincgrcgor is now nearly cornpleled, and ihe greater portion of the material has been despatched to the railway.". , .

The following items ate from the Cromwell Argus:—"Tho Eendigo mine was token over oy the new party on Friday last, and a number of men are now employed by the new company cleaning out- races and laving pipes, etc. It is to bo hoped the venture turns out successfully, as it is considered tho reefing will then be tried rgain—The junction Electric broke the lop tumbler shaft last week, and Will bo delayed for some time before they can get started again.-Tho Clulha lliver dredge will ba ready to start again in a few days— I'no Kow Cromwell has closed down for'the present, as the hangers broke again on Friday morning, and tho drift is verv bad, so tjieii is little chance of getting another start this season'"

The master of the Molyncus Kohiuoor Company s dredge reports that, it took from' Monday afternoon (when a start was made) til! Thursday morning io clear tho paddock of drift, which was brought, down by tho rise in the river at the beginning of the week. Tho wee had barely been opened out when the mishap occurred to the elevator, consequently not much" bottom was got over, and there was no wash-up. Siuoe cleaning out' flic paddock there had been a. noticeable difference in the stuff put through, and on Sunday morning last the mats looked better than the dredgemaMvT hstl seen them for sometime ut that period of the week It seemed, therefore, that the dredgo was getting away.from the worked ground, and improved returns wero expected.

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The master of the.Alexandra. Lead Company's dredge reports that the dredging time last week was five days. The height of tho face above water was about 44f(. and bolow water level 16ft. TJiebottom,.whichconsisledof a red soft clay, was fairly even right across the cut. Prospects showed an improvement on the inside, bul the quicksilver, which was coming from the Chinariioix'a camps, guvo trouble both in saving and cleaning 'ho gold. The local director (Mr Robert Rods) also writes that tho dredge, was working very steadily, although the returns continued small. Thero was an improvement in the wasb on.the inside of the cut. The water in the'paddock was getting very thick, but the river might rise soon, and this would improve matters, as it would rim iuio tho paddock.

DCNEDIX STOCK EXCHANGE. Both sittings of the Slock Exchange yesterday were productive of business—a sale taking place on each occasion. In the morning Talisman Consolidated was Ilia stock favoured, a parcel changing hands at 28s Gd, with further buyers at the same figure, ar.d sellers holding for 295: At the second call-over 28s 3d wa3 offered for this stock, but there was no response on the part of sellers. In the afternoon Muddy Creeks piovidcd a salo at 30s, and buyors, who subsequently offered 23s Gd, had to remain unsatisfied. Alexandra Leads were on offer at ?,s 6d. Molyneux Hydraulics were again sought alter, ar.d on this occasion sellers responded at Gs 6d., Riley's Beaches were oa offer. Quotes in Sailor's Bends and Sandy Points, wero nearer. Bardjvood stock had buyors, and Waihi scrip was touched on. Small shares in Milburn Limo were quoted (ex div.) at buyers 12s, sellers 12s -lid. Stock in New Zealand Drug and Donaghy's Rope was on offer. New Zealand Paper Mills wero quoted on a 3d market. Salts were made yesterday in Talisman Consolidated stock at 253 Gd, and in Muddy Creeks at 30s. .. The following are yesterday's latest quotalions, subject to the usual brokerage:— Alexandra Eureka—Sellers Bs, Alexandra Lead—Sellers 3s Gd. Alpine No. 2—Sellers 4s. Bignell's No Town:—Sellers 4s. Electric—Sellers 245. E{ J .rick—Sellers Is 9d. Golden Hun—Sellers lis. Island Block—Bnyers 2s Gd, sellers 4s. Molynenx Hydraulic—Buyers 4s Gd, sellers G-, Gd. Mystery Flat-Buyers 335.Muddy Creek—Buyers 28s Gu. No Town Creek—Buyers 13s. Pactolus-Sel'.crs 38s Gu. Riley's Beach—Sellers 4s Gd, Sailor's Eer.d—Buyer« Gs. sellers Rs. Sandy Point—Buyers 21s, sellers 22s 63. Waikaka Queen—Buvers 3s, sellers 4s. Mixing. V.'aihi-Biiycrs £0 17s 6d, sellers £10 2s Gd. Barowood—Buyers 4s. Talisman Consolidated—Buyers 2?s 3d. Kaxbnrgh Am-.i'gnmaied (paid)— Sellers Ss. Big River—Sellers os. INVESTMENT STOCKS. Standard Insurance—Sellers £1 Os Cd. New Zealand Coa! and Oil—Buyers is, Ee .;. lors 2s. Jti.burn Lints (lOi paid, ex div.)--Biiyers 12s. sellers 13s 4Jd. 'New Zealand Drug ('los paid)— Sellers £2 9s Gd. New Zealand. Portland Cement—Buyers £1 15s. tellers ill l'fe. ;' Donaghy's Hope—Sellers £7 15s. New Zca'arxl Paper Mills—Buyers £1 2s Gd. sellers £1 2s 3-iL AUCKLAND STOCK EXCHANGE. (Prom Ou? Own ConußsroiiPEXT.) AUCKLAND. September 11. The following were the sales ou the Stock Exchange to-day:—New Mav Queen. 3s; Talis man, ill 8s Gd, £1 Ss 2d; 'Wailii, £3 12s Gd £18. The colosing quotations were:—Kuriinu! Caledonian—sel.ers 2s Id, buyers Is 8d; Nev May Queen—sellers 3a 3d, buyers os; Wait tJ-hi—sellers £1 8s Su,' buyers £1 8s; Tairu Broken Hills—sellers 2s Id..buyers 2s; Tali." own-sellers £1 os, -liters .« 8s 6d;'"Waihiscllcrs £10, buyers B ISs.&L, : ALEXANDRA COAL MINING COMPANY (LIMITED). The following is the seventh annual report. to bo submitted to the forthcoming meeting of shareholders in the Aksanura. Coal Mining Company:— , ~ • ■ "The directors are.sorry to have to ronort that during tiie past year tho co.npany'has been very unfortunate," principally owing to having io contend with more water in the mine, necessitating ihe purchase of some 46.030 bricks for the ouilding of several dams. Besides this, additional pipes wore required to convey the water to the pit bottom. It was also found necessary to put down two prospecting bore holes. One has been put down outside the coal measure, and another is partly down about tho centre of the now lease. Sinco the end of tho financial year the company has sustained a severe lo=s owing '»•)' the fire in the company's mine. The pc-ppst-heads and staging, which were insured for £200, wero completely destroyed, and a contract has been let to rc-ercct both there. The shaft also suffered a good deal, nart of the timber being burned out, and it will now require to be ie-timbcred. This will be a rather costly matter, as' it is not only to be made larger, but an iron cylinder is to lie put dewn about 2Kt outside the liew timber. This work is now well in hand, and is progressing '-cry satisfactorily. There was a temporary stoppage in the delivery of cos!' for about a fortnight, but now inost of the old customers are being supplied a'ain. The coal is still of very good quality, tlie price at tho pit's mouth being lis per ton." The balance sheet attached to the report shows that a! ilia 20th ci April last there was cash at the bank amounting to £770 Bs' 2d. and su.idiT debtors totalled £314 15s 10. Sii'idrv creditors totaled £205 17s 7<l, and ■l-lin C.< Jd was dns to tho Bank of New Zealand. The proceeds from the sale of coid for the year were £5011 15s Id. including ffvll .'Gs ■!•:! outstanding. The expenditure during the year was £55 ! )1 Gs 2d inchidire? ■.•93303 3s JOd for wages. £107 Is for royalty. £535 17s 3d for dam construction, ar.d £113 Is bad debt account.