MINING.

Otago Daily Times, Issue 13835, 23 February 1907, Page 12

MINING.

The height of tlio river yesterday morning was 7ft 9in above the normal mark at Alexandra.

Tho Lady Roxburgh drcdgemaster wires:— "Washed up'34oz for the week; "shifting to bottom end of claim Saturday or Monday. The work of crecting the Switzers. Co.'s dredge at Waikaia has been hampered of late by the river falling to ii very low level and necessitating the building, of a dam to keep the dredge afloat. Under favourable circumstances it is hoped iho dredge will be ready to start work in a month's time.

On Tuesday of last week the Matnu dredge when working at a point about a-quarter of a milo from the bottom boundary of the claim and half a mile below Mutton Town. Gully, Clyde, on the opposite side of tho river, struck an old spoon dredge, which it is reckoned wan sunk there over 25 ■ years ago. ,

The master of the Golden Bed dredge. Miller's Plat, reports that in addition to his fixing up tho new top tumbler, lie is putting in the spare bottom tumbler, renewing liner plates in screen, fixing up new funnel, and re-riveting- stays in the main ladder, as well as repairing the drop and sand slnites. He is also cleaning out the boiler for inspection by tho Government inspector. There will therefore be \io wash up this week. Work at th-j Last Chance mine (Park's) at Canada Reef, which has been relinquished for some months, was to' have been resumed this week.

The Lake County Press states that Tuohy's Creek dredge at Cordrona sunk on Sunday night in about 15ft of Water. This is most unfortunate, as repairs to the dredge had just been completed and work was to have started on Monday morning. It is thought that the dredgo will be raised without much difficulty.

Tho Alexandra Herald contains the following:—The Chicago resumed work at the end of last week after undergoing some necessary repairs.—The New Fourteen-mile is expected to start again during the next few days.—The Last Chance Hydraulic and Sluicing Company, at Bald Hill Plat, washed up last week fox a Tetum of lToz 3dwt 4gr for tlireo weeks' sluicing.—The master of the Mftuuherikia is busy effecting a number of alterations to tho dredge pthjr to resuming operations for the coming season. The screen has been discarded, and boxes are being installed in place thereof. The river is not sufficiently low enough to allow of a start being made.—Owing to insufficient water for power purposes the Golden Beach is at present idle, and the mastor will be unable to make a start until the inflow of water to tho dam becomes greater.—ln consequence of the long-continued spell of dry weather most- of the sluicing claims at Mataknnui aro stopped: for want of water. The recent rain that has fallen has not benefited the supply of water for mining, and unless fciin falls "soon all tlie claims will bo compelled to cease operations. The annual meeting o! the Tinker's Gold .Mining Company was held at Matakanui on February 2. when the following directors were present:—Messrs W. M'Conuoohie. John Ewing, C. Huddleston, E. Mananglin, and T. Thiggan. Tho balance sheet, which was read and adopted, showed that, the gold obtained during the year amounted to 7430z 15d\vt lGgr, valued at JS2S6O 5s 4d. The sum of £IGS7 10s had beon paid to shareholders in dividends ior the year, and sine® tho registration of tho company in 1902 JE7125 had been returned to shareholders, being equal to 9s Gd per share, (if those present several spoke .011 tho satisfactory financial position of the company, also on the future prospects of the claim, which at present was not working lull time owing to. the scarcity of water.

DREDGIKG RETURNS. 07.. dwt. gr. Electric Ko. 2, Cromwell, week 100 5 0 Masteitoii, Waikaia, 106hrs .. 76 3 0 Mystery Flat, Waikaia, 120hrs <11 11 0 Lady Roxburgh, Roxburgh, \vk 34 0 0 Otago No. l, Miller's Flat, 13Chrs « 33 0 0

AVaikaia, AVaikuia. 120hrs .. .. 31 15 0 Otngo No. 2, Island Block, 23-thrs .. 21 0 0 Central Charlton, near Gore, 13Ghrs _ 18 19 0 New Perseverance No. 2, Alex-. amlra, week 18 11 12 Lady Annie, AVaikaia .. .. 1G 10 0 Hessey's, AVaikaia, 137hrs .. 12 -I/O Charlton Creek, near Core, week 12 0 0 Jlolyneux Kohinoor, lloxurgh, week 10 0 0

DUXEDIN STOCK EXCHANGE. Matters on 'Change yesterday' showed a slight improvement, three sales baing put through in the two sittings. Electrics again have demand at 21s, and the market continues firm. Expectations of a three-figure return from the No. 2 dredge were realised, the yield just exceeding the century. Union Steam Ship shares provided a sale at £17 ss, with the market at the close of the day clear of further buyers and sellers. Tasinanian Coppers in improved demand, and a sa.'.o was effected at 15s 6d. Prices show a tendency to rise. The lowest figure at which this scrip could h6 obtained in Melbourne yesterday was 15s 83. There is good prospect of tho Tasmanian Copper Company crecting smelters at Roseberry, near its property in Tasmania. At tho present time the company lias no smelts, and disposes of its material to the Tasinanian Smelting Company. This will place tho company, in tho position of not only being able to smelt its own ore but of doing likewise for small companies round about." Further than this, the company is extending its operations very considerably in connection with copper properties in South Australia, and a great many properties have recoivtly been obtained at a low cost. Tho company is making splendid profits from its Blinman mine in South Australia. These profits, instead of being paid out in dividends, ar«* being dovoted to securing the other properties referred to, and in unwatering the Sliding Rock property, a' more difficult undertaking than was at first anticipated. ■ Sales made yesterday were:—Electric, 21s; Tasmanian Copper, 15s Gd; Union Steam, .£l7 ss.

The following are yesterday's latest quotations, subject to the usual brokerage: — Dredging Stocks. Electric—Buyers 21s. Hartley and Riley—Buyers 10s, llanuberikin—Sellers 20s Cd. Jla3terton—Buyers 555. Mystery Flat—Sellers 355. Nelson Creek (pre!.)— Sellers 275, New Fourteen-mile Beach—Buyers 10s p. Otago—Buyers 30s, sellers 355. Sailor's Bond-Buyers 9s 3d, sellers 10a Gd. Mining Stocks, Tasinanian Copper—Buyers 15s 3d, sellers 15s Cd. Hercules—Buyers 153 Gd, sellers 17s 9d. Kurunui Caledonian—Buyers Is, sellers Is sd. Talisman Consolidated—Buyers 31s 3d sellers 32s 3d. Investment Stocks. 1 National Insurance—Buyers £1 5s fid. New Zealand Coal and Oil—Buyers 2s 10Jd. New Zealand Portland Cement—Buyers £2. New Zealand Paper Mills-Buyers 235. > AUCKLAND S'i'OCK EXCHANGE. fFiou Our Own Cobbespondent.) AUCKLAND, February 22, Stock Exchange sales: AVaihi, £9 3s, £9 3s Gd; AVaihi Grand Junction, 43s Gd; Talisman, 325; AVaiotehi, 325, 31s 9d; Tairua Broken Hills, 'Is; Kuranui Caledonian, Is 2d. Closing quotations: XCuranui Caledonian, sellers Is 2d, buyers Is Id; New May Queen, 3s 2d and 3s Id; AVaiotabi, 31s 9d and 31s Gd; Tairua Broken Hills, 'Is and 3s lOd; Talisman, 32s 3d and 31s 9d; AVaihi, £9 4s and £9 3s Gd; AVaihi Extended, 6s lid and Gs lod; "Waihi Grand Junction, 43s Gel and -J2s Gil.