MINING.

Otago Daily Times, Issue 13858, 22 March 1907, Page 6

MINING.

The secretary of the Mystery Plat Company reports a return of 350z 'Jdwt for 13-2 hours' work. ■ Tlie Punt Company's dredge lias been undergoing an overhaul for the past six or seven weeks. The work is being carried out by Messrs J. Jl'Gregor and Co., under the': supervision of Mr Robert Turnbull, of that firm. The overhaul has so far progressed very satisfactorily. A large number of new buckets arc being put 011 the string. "When everything in the 1 way of'repairs and alterations are effected the dredge wiii be practically as good,as a new machine. It is expected that the overhaul will bo completed at the latter end of next week. The work of installing water power on the Olrig Company's dredge is Jiearing completion. The pipes liave been extended as Jar as Hie swinging derrick situated on the tailings behind the" dredge. The pelton wheels arc fitted up in their places, and all thai remains to he done is to make n few minor connections and complete the housing, etc. Mr F. AV. Payne, who is engineer to the com--1 pany in the carrying out of this scheme, lias just returned from a visit to tile dredge, and expeta that a trial mil will be got out of tlio machine during next wee';. The Clutha River Company's dredge has been cioscd down lor .the past week or 30 ' in order to put a new end to the ladder, which was badly twisted when an accident lecenily occurred to the Indder. At that time the hungers broke, and the ladder and buckets went to the bottom. Everything was recovered, but since then the ladder had been giving a good deal of trouble, and it was decided to effect repairs. The new end is , now being fitted on. to the laiiier, having . arrived at the claim last Saturday. When [ completed the ladder will lie better than ever it has been. It is expected that work will bo resumed on Monday next. The river, which 1 lias been very, high of late, lias brought i down a good deal of the face, and this will I>2 very much to the advantage of operations when commenced. It will probably take a week to clean out the cut, which would natur- ; ally bccome filled up during the stoppage. Tlio, directors of the Rise and Shine Gold 1 Dredging Company have declnred a dividend i (the ninth) of Is per share, payable on Tuesday, 20th inst. [ The height of the river yesterday morning was 10ft above the normal mark,at "Alexandra. The Riley's Revival Go'.d Dredging Com- - pany (Ltd.) is the name oi a new company , which is being formed to purchase the Riley's ■ Beach dredge to work the.Revival Company's : claim at Cromwell. The capital of the new i company will consist of £3000, in 8000 shares \ of £1 each. In the past a- portion of the ■ Revival Company's, claim hr.s been worked, l " and at times with considerable success, as much as 590z Hdwt being, obtained for one > week's work. The directors, however, found . that their dredge was too small and not suit--5 able to. work the claim profitably, and conse- • quently closed down., The Riley's Beach i dredge, which is strongly built and can dredge ! to' a depth of 52ft, should give a good account 1 of herself 'when she gels to work ou this claim. Mr Harman Reeves is the broker for "■ the new company, and we understand that ' over 1000 shares have already been bespoken. c The prospectuses will be issued on Friday. ; In connection with the letter appearing in 5 our issue of yesterday"signed "Shareholder," f in which it was complained that the directors of the Enterprise Company in calling their 1 annual meeting at 12 o'clock ill the day 1 practically prohibited shareholders in general from attending, the chairman of directors (llr i J. Mitchell) explains that the directors have 5 on previous occasions called the meetings at different hours, rind the attendance was very - little different from what it was oil the 13th, I the date of the lost annaitl meeting. Further, r one director'had on this occasion come from i Tiinaru the previous night in order to be 1 present, and was returning at midday. ! Altogether there were nine shareholders present at the meeting, that number including five directors. The chairman, in moving the g adoption of the report, stated that matters at t that time were not looking healthy. A letter was read from the dredgemastcr, in which 1 ho stated that after getting two weeks' work , in where lie \m at that time he cxpectcd J to get into payable ground.. Since then-there . has been one return—namely, floz. The chairi, man also stated that if thei position of the g company became worse shareholders would bo called together. We received no inlima- " tion of the meeting.

DUXEDIX STOCK EXCHANGE. But one sale was effected on 'Change yesterday, the contributing slock being New Alpine Cor.sols and the price Bs. The market was a totally uninteresting one, and does not call for comment. A sale was made yesterday in New Alpino Consols shares at Bs. The following are yesterday's latest quotations, subject to the usual brokerage: — Dukdging Stocks. ■ Chicago-Sellers Os 3d. Dunsan Lead—Buyers Is lOid, sellers 2s. Golden liun—Sellors Us 9d. Hartley and! Biley—Buyers 12s Gd, sellers 205. I Island Block—Buyers 2s, sellers 3s 6a, lianuberikia—Sellers 20s Gd. Molyncnx Kohinoor—Sellers 3s. New Alpine Consols—Sellers 8s 6d. New Fourteen-mile Beach—Buyers lis p. Trafalgar—Buyers 18s, rollers Qfls 9d. No Town Creek—Buyers Bs, sellers 10s Gd, Otago—Buyers 30s. Sailor's Bond—Sellers 10s. Sandy Point—Buyers 20s. Hixixb Stocks. New May Quccjii—Buyers 3s 4d, sellers 3s Tasmamau Copper—Buyers lGs 3d, sellers Tasman Consolidated—Buyers 325, sellers 335. 1 AVaihi—Buyers f8 18s Gd, sellers B 3s, Big River—Buyers 5s 9d, sellers Bs. Invkstmext Stocks. National Bank—Sellers £5 7s. Bank of New Zealand—Buvers £10, sellers £10 Gs. New "Zealand Oil and Coal—Buyers • 2s, sellers 3s 3d. New Zcalnnd Drug (40s paid)— Buyers M Cd. New Zealand Portland Cement—Sellers 103 D.I.C. (pref.)—Buyers 22s 3d, sellers 235.