MINING.

Otago Daily Times, Issue 13837, 26 February 1907, Page 6

MINING.

The return from tho Koputni dredge last week was 21oz for 8-2 Louts' work. Tho height of (lie river yesterday morning was 7ft Gin abovo the normal mark at Alexandra. The Molyncux Kohinoor dredgemastcr wired lo the secretary on Saturday at noon that ho then had more tliun 10c« ou the. mats. This indicates a> considerable improvement on previous prospects, as the return for last week was only 10oz. Tho manager of tile Mount, Ilex Tin Mine Teports as follows under date February 10:— No. 1 level: Western drive extended Oft (all in stone). This drive is now d.rivon 29ft— tho first 19ft in granite, then 10ft of stone. It is :i fmo body of stone, ami still (!oin<: strons west. Tho stone is not payable, but it all carries tin, ami is very encouraging. Alluvial: No. 1 face: We aro taking lip Uie wash. It looks fairly well lit times, but is again poor. Mo. 2 face: This is getting very rough, and not improving in qualify. DUX'EDIX STOCK EXCHANGE. There was n considerable increase, in -the number of quotations recorded at the two sittings of the Dnnedin Stock Exchange yesterday as compared witli what was ruling lasi week. No business, however, eventuated therefrom on 'Change. In most cnso3 there was a wide margin between buyers and sellers' quotations*. This was noticeably so in Electrics and Tnsraaninn Coppers. In Masterlons buyer's price, although showing a slight advance, still fell short of what sellers were asking. A reassuring intimation from tho Molynenx Kchinoor Company's scene of operations brought this stock into slight prominence again. The only Auckland stocks to attract notice were New May Queens and Talisman Consolidated. The following aro yesterday's latest quotations, subject to the usual brokerage: — Dredgikg Stocks. Alexandra Lead—Sellers 3s. BigncU's No Town—Buyers 2s 3d, sellers 4s. Blackwater (contrib.)—Buyers 10s, sellers 14s. Dunslan Lead—Buyers 3d, sellers 9d. Electric—Buyers 20s Gel, sellers 23s Cd. Enterprise-Sellers 3s. Goltlen Betl—Buyers ss. sellers 9s. Golden Gate—Sellers 2Gs Cd. Golden Kim-Sellers -Is. Hartley and Rilcy—Buyers 103. Lady Roxburgh (contrib.)—Sellers 9s Masterton—•Buyers 065, sellers GOs. Manuherikia—Sellers 203 M. Molyneux Kohinoor—Buyers 2s, sellers 4s jfystery Flat—Buyers 335. ■ New Alpine Consols—Buyers 7s 6d, sellers New Trafalgar—Buyers 19s Gd, sellers 22s Gil. No Town Creek—Buyers Bs, sellers 103 9d. Pactolus—Sellers 395. Rising Sun—Buyers 9s, sellers 15s, Sailor's Bend—Sellers 10s 3d. Snndy Point—Buyers 2tfs. Miaso Stocks. New Hay Queen—Sellers 3s 3d. Talisman Consolidated—Buyers Ms, sellers 32?. Tasmanian Copper—Buyers lls Gd, sellers lGs Mount Farrell—Buyers 17s 3d. Big llivcr—Buvers 2s Gd. Hercules-Buyers 17s. Investment Stocks. National Insurance—Buyers £1 5s Gd. Wcstport Cosrl—Buyers £7. New Zealand Coal and Oil—Sellers 5?. Milbiira Lime (20s paid)— Buyers £1 Gs 3d. Jlilburn Lime (10s- paid)— Buyers 13s 3d. New Zealand Portland Cement—Buyers £> sellers £2 Iβ 3d. MOLI'NEUX HYDRAULIC DREDGING COMPANY. The directors of the Jlolynoux Hydraulic Dredging Company liavo issued tho following report to shareholders for tho 12 months ended 28th December: — "During tho year there were 40 wash-ups, aj>d ■the amount, of gold won was 10G2<re 16dwt 21gr, valued £4101 183 Jd. There is still a. good deal of unworked ground in the claim, but, qwing to the liigli faco abovo the maim level, the cjredgo does not go ahead very quickly. Two dividends have been paid during tho year, and at the present time the company has a. reserve fund of £500, and a credit balance in the bank amounting to £131 18s 4d. Tho accounts owing by the company amount to £181 4s 4d. The dredgo is now in very fair ordcv, and is continuing working up steady with a good wide cut on, getting good returns, and is now just past what is known as Brady's old place. AUCKLAND STOCK EXCHANGE. IFrou Our Own Correspondent.) 'AUCKLAND, February 23. Stock Exchange sales: Waihi, £9 4s; Waihi Grand Junction, 41s, 40s, 39s 3d, 395, and 37s Gd; Waiotahi, 325; Waihi Extended, Gs 10d down to Gs; Tainu Broken Hills, 3s lid to 4s Id to 3s 9d; New May Queen, 3s 4d, 3s sd, and 3s Gd. Closing quotations: New May Queen—sellers 3s 7d, buyers 3s Gd; Wamtahi —sellers 325, buyers 31s 9d; Tairuo. Broken Hill—sellers 3s 10d, buyers 3s 8(1; Talisman— sellers 325, buyers 31s Gd; Waihi—sellers £9 4g, buyers £3 3s Gd; Waihi Extended—sellers Gs, buyers 5s 4d; Waihi Grand Junctionsellers 37s Gd, buyers 355. THE WEST COAST. CFrou Our Oyw Correspondent.) . ■ GREYIIOUTH, February 25.Yet another dredge—the Jainieson's .Reward—is being sold to pay the • company's dcbls. This company had but a, email patch of good ground, the main gold tunning through, tho Paotolus and Nelson Creek ground. The Pactolua continues to give highly payable returns, and I am informed that something that 'will surpass tho best West Coast return may bo expected. It is certain that uf wo guago what is to bo expected from gold got in the Nelson Creek and touched in tho Jamieson's claim a few big returns are to bo expected. The New Trafalgar dredge has not yet come upon the rich wash which was anticipated. ]f, however, tho run, v.-hicli was so wide in the Nelson Creek and Pactohis claims, is any guido to go by, these retnrns ero long must run into three figures. The No Town Creek dredge, though hampered with difficult wash, continues to give good payable returns. Tho Slab Hut dredga is also worked with advantage to shareholders. A new dredge, the Antonior Company's, has given 21oz for opening up, with eplendid expectations. _ This claim is situated in a grand flat, tho hill under which was very rich. The greater part of the claim consists of unworked ground. The opening up has given ideal material, easily treated, and, as no heavy boulders were found in the hills, it is supposed that tho valley will be equally free from these obstructions. It so a good future may bo predicted for this company. The continued dry weather has seriously interfered with all kinds of mining, sluicing being almost at a standstill. Quartz mining is to be again given a chance in the Paparoa ranges. Tho Tally claim is to bo opened out and worked 011 a larger scale than heretofore, while the Brunner Prospecting Association, is driving away at its low ierel tunnel. NOTES PROM KEEFTON. (From Ocn Owk ConMSFONDENT.) REEPTON, February 23. Tho manager of the Keep-it-Dark mine reports for last month:—Stoping has been carried on over No. G. inside block branch, and No. 7 levels. During the month 1041 tons of quartz were sent to the battery. There ij a little improvement in the slopes at tho ofi end of No. G level. In the No. 2 stope on tbe inside block over No. C levol the lode has become cleaner, and the width is over Bft, but tho quality is tho same as already reported. Tho slopes over tho branch level cany a strong body of stone, of medium quality, 6ft wide. More driving will connect the block of stone in the crosscut from No, 6 with the uprise to No. 5 level. Stopiiig

oa ibis Wool: will then be continued. No. 2 stope over No. 7 level has widened out to 14ft in places, The quality is fair. Xo, 1 stope. has been nearly filled in, so that the work of No. 3 Etope will now be commenced. The return is ISOoz odwt from 1020 tons, and by the cyanide process 720z 13dwt, making si total of 25'20z 18dwt. From four and a-half tons of stono obtained by two men in the Merrijigs district from a, leader 430z Hdwt gold were socured. Tho men had been working in the locality since October last, but only struck the stono some Utli'.e time ago. A resident of Boatmar.3, while prospecting, located some nice stone, showing gold, by tho river.