MINING.

Otago Daily Times, Issue 13856, 20 March 1907, Page 6

MINING.

The sMi'tliiry of tho Pale-son's Freehold CouiKniY reports a, rcVutn or lto. from tho Xo. 1 dredge for last week. The Xo. 2 maenme obtained 18oz 12dwt for 122 hour*' dredging. The llcssey's dredgevnaster reports si good run lust week, but with still no chango m the promid. Everything was running we.l with the exception of some ot the ladder rollers, which wero getting worn through. Acw ones have been ordered, and will probably be forwarded to the claim to-day. The Mvs'tcry l'lnt dredge bad a good run of 130 hours last week. The gold-bearing wasn was thin, and another scour-out ;had come in about tho centre of the middle cut, but the dredgomasler did not think it would prove to be extensive. There was still «■ gcotl deal of coal bottom in the cut. Tho Fcci-ctary of the Xckomai Hydraulic Company reports that at. Xo. 1 elevator good progress has been made both in sinking and sluicing. The water from the Lion race was available at the claim on Monday, the lHh inst. A full stiuiilv of water was being received at the Xo. 2 elevator from tho Lion race, but none from tie dam, as it has to be kepi low to allow the grouting on tho faco of the dam to be completed. Tho Electric Company's two dredges aro now both in operation, the Xo. 2 dredge hay^

ing darted work at midnight on Sunday. Mow that tho rivet is falling tho two machines are enabled to carry on work, bat aro still experiencing trouble with drift. In connection with tlio fulling of the river all that is now required is for tho frosts to set in. An nil-round appreciable improvement in dredging returns would then ensue. Nowadays the dredging industry .pursues tho even tenor of its way, and the jumping o( claims or frensied pogging-ont of drcdgon'olo areas that so characterised the dredging boom is something that is merely associated with tho past. A ease, it is rej'.orUd, his just occurred in tho Alexandra district, however, vhoro u company that had purchased a dredge to work a certain aron of ground found, on proceeding to peg out that area, that it was a- day too late, some ent-erprising person or porsons'having got wind °f tlie proposal, end just th 0 previous day themselves pegged out the ground and mado proper application for it.

DUNEDIN STOCK EXCHANGE. The two ca'.l-ovcrs held yesterday passed off without anything of interest transpiring beyond the changing hands of a parcel of BigneU's Xo Town shares at 'is. There was slightly improved doniand for Hartley and Bilcy scrip at 12s Gd, and holders quoted wide in response- at 20s. Tho cause of tho present' hardening of values in this eiock can ha attributed to an assumption, probably well founded, that the. tlicdgo is to be-shifted further up the. river and put on io work a pioca of ground that has not been touched before. Bank of New Zealand scrip was.again placed on oiler yesterday at £10 7s Gd, and elicited inquiry at £10. Tho Molynoux River continues" to Bow at a level which makes profitable and advantageous dredging almost impossible. It haa, however, u tendency to tall, ami should frosts set in it should not lx" very long before it has reached a- level which will permit of the gorge dredges gelling to work. Tho height yesterday morning was lift siu above the normal mark at.Alexandra. A sa.!o wJj undo yesterday- as follows:— BigneU's No Town, 3s. Tho following are yesterday's latest quotations, subject to tho usual brokerage:—* Dredgixo Stocks. ■ Central Charlton—Sellers 8s Gd. Dunstan Lead—Buyers Is 7Sd, sellers 2s. Enterprise—Sellers"4s Cd. Hartley and Rilcy—Buyers 12s Gd, sellers Xli Lady Roxburgh—Sellers Ss. Manuherikia—Sellers £1. Jlolyneux Hydraulic—Sellers Gs, Jlolyneux Kohinooi— Sellers 3s. Myst'jry Flat—Buyers £1 13s. New Alpine Consols—Buyers Ss, sellers 83 Gd. Now Bendigo—Buyers la Oil. sellers 3s Cd. Jw-iv- }Toi:rtc«n-niile Beach—Buyers Us p. Otago-B'uyors £1 10s. Pactolus—Sellers £1 las. Sailor's Bend—Sellers 10s. MiNixG Stocks.. > Talisman Consolidated—Buyers XI 12s, sellers £1 I.ls. Mount Farrcis—Sellers 18s. Waihi Extended—Sellers 7s Bd. Big Biver—Buyers as Gd, sellers 7s G3; Investment Stocks. Bank of New Zealand—Buyers £10, sellers £10 7a 6d. National Insurance—Seller £1 63 3d. New Zetland- Coal and Oil—Buyers 2s 6d, sellers 3s Gd. ' Da-lgety—Buyers £G 10s. Milhura Lime (203 paid)—Buyet3 £1 G3. Milbnrn Lime (10s paid)— Buyers 13a, seller! 13s Gd. New Zealand Portland Cement—Sellers £2. Donaghy's Rope—Buyers £1 15s. D.I.C. (pref.)—Buyers £1 2s 3d. New Zealand Paper Mills-Buyers £1 3s 64