MINING.

Otago Daily Times, Issue 13999, 4 September 1907, Page 6

MINING.

1 Apparently, the Molyneux still remains at ' the 3ft Bin.level as rid telegram with refenenco to the' river was received at the Stock Exchange yesterday. The Ifonto Christo dredge was offered for sale by auction by Messrs Park, Reynolds, and Co. yesterday. Bidding started at £2<X), in the presence of. a large number of persons, and quickly mounted up to £400 by £50 bids, • and then by. £2p>,- bids• to £500 -when, the auctioneer ainitting bids. of £10, the price Tose slowly to £720, at which figure it was knocked down to Mr Binsted, as agent. The Mystery Flat-dredge,had a steady run cf 137 limits last week. There was si decided improvement in the quality of the wash in the lniddlo section, it being-much heavier-than it had been for some weeks, The western section' also showed an improvement, but the eastern one was not quite so good as it had been.. .The bottpnj was chiefly red clay. .An Auckland; wire ;sfStes that the 'Waiotahi reiurn lor Augiiat was'J9,74ll3s 5d fro'ta 619 tons of ore. . Mr Bradbury, the diedgemasler of Davidson's freehold, in his report of Friday last, states" ho ■is making splendid progress with the Venture dredge in iiis cut up to DavidFon's freehold, and as>aheadof him he will have apportion of the Waikaia River to assist ill floating the dredge oil her way, he anticipates lieing on the ground,, and dredging in full swing, in absut ihree weeks time. The Secretary of the Nokoinai Hydraulic Sluicing Go.''reports that-atNo.'l claim'work during the last weelt'lias been confined to removing the plant- and' relaying and extending the main line' of 1 pipda. ' The drainage race was completed'oil Thursday., ..Altogether.the main lias been relaid and extended' for a distance of over 23 chains. It is expected' a start will ba mado to sink'on Thursday first. At No; 2 the efforts made to stop the leakage from the old drives and paddocks. were -unsuccessful, aiid the'plant was removed and sluicing resumed on Friday evening, on a place which is expected. to prove solid. . Work at No. 3 lias made good .progress. Sodding and cleantho Lion rr.ee to Blackball will be finished day. Five hundred and. ten feet of piping wore laid, and 240 ft. are:in.position, and more ate at .the bottom of the zigzag. DUNEDIN STOCK EXCHANGE. Business in investment' stocks was brisker on 'Changs yesterday than- it has been for some .'time. ;In' the "morning D.I.C. ' stock [pref. issue) was. quoted .at 22s 9d and' 235, buyers and sellers respectively, a sale taking jlace at' 235, | the prices changing to buyers 22s 9d and sellers. 23s 3d iu the afternoon, parcel of National Back's was sold at 109s, Sales—National Bank;-109s; D.1.C., (pref.), !3s. . . -'V. . The following are yesterday's latest- quotaions, subject to the usual brokerage:— Alexandra Lead—Seller 2s 6d Bign'ell's No Towrt—Buyers 2s 9d, sellers is. Electric (ex div,)— Sellers 17s 6cL Golden Bed—Buyers 4s;3d. Hartley and Riley—Buyers 17a. Hessey's—Buyers 3s.'. ■ • Lodv Roxburgh (contrib.)—Sellers Gs 6d. Maiiuherikia—Buyers 18s 6d, sellers 19s Gd. New Roxburgh Jubilee—Sellers 12s. Rise andl. Shine—Buyers-20s, Eellers'2os 3d. Risin'f•' Suitrßujeis.iß3i ::.

MmiNQ Stocks. Tailanun Consolidated—Sellers 403. "Wailii— Sellers 1773 6<3. Big River—Buyers 10s, sqllors 12s. • Ngatiawa—Buyers Is 46, sellers Is' 73.

Ihvestbekt Stocks.- . National B»nk—Buyors 1033 6d. National Insurance—Buyers 2Cs 9d. Now Zealand Coal and Oil—Buyers 13 3d. D.I.C. (pref.)-Buyera _is 9d, sellers 23s 3d. National Mortgage—Buyers (83, sellers Cos. Now Zealand Drug (403 603 9d, New Zcalsnd Portland Cement—Sellers.3Bs, Donagby's Rope.—Sellers lIS3.

WELLINGTON STOCK EXCHANGE, (Fboii Our Own CoreespondkntO , WELLINGTON, September 3. On the Stock Exchange to-day business in [he mining section was restricted to trading in Tallsmang at 493 and 49s 3d, and Waihi (ex dividend) at £8 16s. .- •:

. NOTES FROM ALEXANDRA. . (FKOM OITR OWS COBRIIBPOHDENT.) ALEXANDEA. SOUTH, Sept. 3. Good progress is being made with dismantling the Bendigo dredge, and it is expected that the first of the machinery will be'dis-. patched to Victoria in. a few days. • ; The Clyde dredge, it is reported, has struck good gold. The dredge was pulled aheadlast week, fair prospects being met with on tho bottom.

The Sailor's Bend is opening out on a soft bottom, and prospects are reported to be fair: -..--.

The Molyneu?; hydraulic-met with an accident, bet elevator wheel collapsing. A new orio hits bcon ordered 1 , and operations will" be resumed as fioon, as it amves.

Tho'Manuherikia ia at present working ou splendid wash. Prospects are good, and another three-figure return is expected this week. , The crown wheel of the First Chance dredge arrived on the claim on Sunday, and was taken to the beach yesterday, Owing to it being too heavy for the coal boat, the master pulled the dredge ahead to allow of the wheel being taken on board, Dredging is expected to b» resumed- at the end of the week. \

All the other dredges aro working steadily and.winning'.payable returns. ■ Alluvial mining ia at' present at &- standstill at Bfildhill' Flat, but sluicing will,probably start-again now.that the weather is breaking. At Matftkanui waier is .very short but , as the snow i 3 melting the supply will soon bo plentiful. At the present time the claims are only, working about half, time,