MINING.

Otago Daily Times, Issue 13861, 26 March 1907, Page 6

MINING.

Tlio height of the river yesterday morning was 10!t Gin above tho normal mark at Alexandra. Tho secretary of the Molyneux Hydraulic Company wires, u return of 20oi lOdwt lot last week. The dredge is now stopped for an overhaul. Out Rteit-on correspondent wires as follows:—An extraordinary meeting of shareholders in tho Kinvan's Reward Gold Mining ■ Company is called ior Friday, April 12, to consider the advisability of winding lip the 'IM,„ 1 l.n (tin &•' T'Vrlrlnr.

company. The return from the new i'edde-r- o son dredge is 31oz for 139 hours' work. j There was no return froau the Charlton Creek dredge lost week, as thero was a sloppago for three days to effect repairs. The dredge is now at work again, and everything is running well. The Rising Sun dredgemaster reports as follows for last week:—Dredged 131 hours, and worked ahead 24ft on a cut 65 yards wide. The river is still too high to work in, but I hope to be able to shift into it at the j end of next week if tho drift stops running. , The present, out is too narrow to get fair returns. I There was no wash-up on the Alexandra Eureka dredge last week, as <m overhaul was being carricd out, which will at all events , extend over another week. Writing under date 22nd inst., file manager of the Island Block sluicing claim stated that ho had completed stripping tho elav off a block 70yds by 40yds in area to a depth of 12ft. Sinking was started on Tuesday morning. and at the time of writing operations had been carried to a depth of 20t, or 33ft from the grass. Another sft was to be sunk before tho elevator was 'put in to strip and make more room to get on to the main bottom. It was expected that the elevator would be in position during this week. Tho water supply was very short, and tho clams were getting low. Tho manager of the Mount Rex Tin Mine (Ben Lomond) reports as follows under dn.le March 9:— No. 1 level, No. 2 drive south: This has been driven 10ft for tho week, making a total of 32ft. There is a strong body of stone, but it is not payable. Alluvial: No. 1 face. This is shallow ground, but it is payable. No. 2 face: This looks about the same as last reported. DREDGING RETURNS. During tho week ended Monday, March 23. returns were reported from tho following 2G dredges in Otago and Southland, tho total yield being 05So?, sdwt 12gr, or an average 1 of 250z per dredge:— Oz. dwt. gr, Waikaka United No. 1, Waikaka. 129hrs 53 2 0 Masterton, Waikaia, ISSlirs .. 49 5 0 Otago No. 1. Miller's Flat, week 49 0 0 Riso and Shine No. 1, Clutha River, 130hrs 4G 18 0 Riso and Shine, Clutha River, I 139hrs 43 7 0 Waikaka Queen, Waikaka, . lKhrs 39 17 0 ! Muddy Creek, Waikaia, 131hrs .. 3D 14 0 ■ Mystery Flat, Waikaia, 132hrs .. 3"> 9 0 Sandy Point. Alexandra, 130hrs' 30 13 12 t Alexandra Lead, Alexandra, ' 153hrs 30 7 0 Rising Sun, Clutha River, 131hrs 20 14 0 Central Charlton, Gore, 134hra 23 3 0 Molyneux Hydraulic, Alexandra, 1 week 20 10 0 , ■ Roval Waimumu, near Gore, ! l*3lhrs 19 10 0

Fruit trees sprayed in summer with M'Dougall's wash will Thoroughly exterminate all insect pests, blights, scale, spider, and codlin moth. It is safo to use, and is also. a cheap wash.—Nimmo and Blair, Dunedin..,,

"Waikaka United No. 9, Wai- , kaka,,l23hrs 19 0 0 Electric No. 2. Cromwell, sJdys 17 15 0 Waikaka, Waikaka, ■ 132hrs .. -15 13 0 Golden Bed, Miller's Flat, <Udays 34 0 0 Otago No. 2. Island Block, week 14 0 0 Hartley and Riley, Cromwell, 1 134hrs ]2 0 0 Enterprise, Alexandra, week.. 11-10 0 Ettrick Roxburgh, 93hrs .. 10 1C 0 ilessev's, Waikaia, 13Chrs >. ... 10 7 0 Kuril. Waikaia, Slhrs 10 3 0 Electric No. 1, Cromwell, 139hrs 7 2 (I Chicago, Alexandra, 82hrs *. 3 5 0 Total 658 5 12 Thf, West Coast. Pactohis No. 2, lOalirs .. .. 50 1 0 Bluckwater River, 175hrs 52 5 0 No Town Creek, 131hrs 41 0 0 New FctUetscn, 139hrs .... 31 0 0 Bignell'si No Towm, 119hrs .. 24 11 0 Partolus No. 1. 2GShrs .. .. 22 3 0 Slab Hut, week ~ .. .. 10 o 0 Nelson Cre3k, lllhrs .... 10 0 0 Total ~253 3 0 DUNEDIN STOCK EXCHANGE. The stock market. was a little firmer in lone yesterday than lias been the case for somo days past. Four sales were put through, while the quotations recorded were more numerous than usual. Of the four sales effected Island Blocks contributed three at 2s 4kl, and New Roxburgh Jubilees one at 5s Gd. In the latter stock further lots wore on offer at 7s (>d, but- no buying offers were forthcoming. Electrics vere available at 22s Gd, but elicited no inquiries. Tho returns from this company's two machines for last week are disappointing—namely, 7oz 2dvvt from the No. 1 and 17oz 15dwt from the No. 2. For tho falling off tho travelling drift and high state of tho river would,, in a large measure be responsible. Manuhcrikias were on offer at 20s, and Muddy Creeks at 70s, but there were no buyers in either case. Now Trafalgar.?, placed on the market at 22s (cum n dividend of Is per share, payable to-day), failed to excite buying notice. Matters at the scene of operations with tho Trafalgar Company promise wcfl. The dredge was stopped last week undergoing an overhaul, which,'it is expected, will be com-' pleted and th? dredge ready to start again by the end of this week. She is now, it might ba interesting to know, getting into lino with what is supposed to be the run of ground that the Pactolus Company's small dredge (the No. 1) was working on when that company's claim was originally opened out.

When the Pactohis dredge worked out into the flat slio won, in a period of 19 eonsecutivo weeks, including broken "time, as much as MGGoz of gold. When the Trafalgar dredge gets a little further out it is confidently expected that she will get oil to tlio same line of ground. Sales made yesterday were:—lsland Block (three parcels), 2s did; New Roxburgh Jubilee, 5s 6d. The following are yesterday's latest quota, tions, subject to the usual brokerage: — Dredging Stocks. Alexandra Lead—Sellers 3s. Central Cliarlton—Sellers 8s 3d. Chicago—Sellers 9s 9d. Dunstan Lead—Buyers 2s 0!d, sellers 2s 6d. Electric—Sellers .£1 2s Gd. Enterprise—Buyers 2s, sellers ss. Ettrick—Sellers 4s. Golden Gate—Sellers £1 Gs. Golden Hun—Buyers 2s Gd, sellers 4s 3d. Hartley and Riley—Buyers 13s, sellers 13s. liessey's—Sellers Bs. Island Block—Buyers 2s -l-id, sellers 2s Gd. , Lady Roxburgh—Sellers Bs. Manuherikia—Sellers £1. Molynsux Hydraulic—Buvers 4s 9d, sellers 5s IOJd. Molyneux Kohinoor—Sellers 3s. Muddy Creek—Sellers £3 10s. New Fourteen-mile Beach—Buyers lis Gd p. ICew Trafalgar—Sellers £1 2?. New Roxburgh Jubilee—Sellers 7s 6d. No To™ Creek—Sellers lis. Otagc—Buyers fl 10s. Pactohis—Buyers fl 10s, sellers il 16s. llising Sun—Buyers 12s Gd. sellers 17s 6d. Rise and Shine—Sellers 16s. Sailor's Bend—Sellers 10s. Waikaka,, Queen—Buyers Gs 9d. AVaikaka. Queen (prefi)—Buyers 10s, Waimumu Queen—Sellers 3s Gd. ilixixo Stocks. Tasmauian Copper—Sellers 17s 3d. Hercules—Sellers £1 Is Oil. Kurunui Calcdonian-rßnycrs Is ljd, sellers is Gd. Talisman Consolidated—Buyers £1 12s Gd, sellers JCI 13s Gd. Waihi—Sellers £9 Is. Big River—Buyers ss, fellers 6s. ' INVESTMENT STOCXS. National Bank—Sellers £5 7s. Rational Insurance—Sellers £1 Gs Gd. Wcstpoil Coal—Sellers £7 2s 6:1. New Zealand Oil and Coal—Sellers 3s 6d. Commercial Property—Buyers 3s 3d. Xew- Zealand. Drug . (40s paid)— Buyers £2 9s 9d. D.I.C. (prcf.)—Buyers £1 2s 3d. MOLYNEUX KOHINOOR COMPANY. TO TUE KDITOIt. Sir, —Please allow mo a small space in your valuable columns, for the purposo of making a few remarks in connection with tho above-mentioned dredge, tho 'Molyneux ICohinoor. I learn from advertisement- that a. dvedgcnjaslci- is sought for. "Why so? is my query after such a report as was tabled at the annual meeting, 25th April last, which showed that under the able management of the present dredgemastcr (Mr D. Hepburn) , that tho Kohinoor Company had disbursed over £2000 in dividends, which meant 7s Gd per share. The report also showed that tho dredge' was now in a thoroughly satislsieiory condition—second to none,—which was not so when Mr Hepburn took charge some IS months ago. The dredge was then little better than a derelict, and tho company offered tho whole lot, lock, stock, and barrel, for £1303. The dredge .itself would'now be worth nearer £3000. "With these facts before us, I should wish to know why tho advertisement for a fresh miuiager. If Mr Hepburn is anxious to go, I would suggest that his valuable services be further secured, and, if necessary, that a retention bonus bo offered him. If on the other hand tho directors wish to dispense with Mr Hepburn's services, I for one would liko to know why. Hoping something will be done to sccnro tho services of so valuable a dredgemasier as Mr Hepburn has proved himself to be in the interests of tho company.—l am, etc., One Interested.;