MINING.

Otago Daily Times, Issue 14000, 5 September 1907, Page 9

MINING.

A wire received at the' Exchange yesterday gave the height oE the river at Alexandra aa being 3ft lOin above the normal mwk Alexandra, This represents a. rise of 2ili since tho last advice came to liomd some dap ago. Tie weather continues mild.

.'The mastiff of tho Electrio No. 1 dredgo ■writes, under date 31st nit.: " During tut. •Past week the time workod was only 8G lours, but in that timo we drove ahead 12ft. The breaking of the hangers on Thursday afternoon and tho changing of tumblers took up the best part of tho week. Tho cat continues very rough, tbs bottom being o£ the same nature as during the last fortnight, and tho sample of gold remains the same.. I am pleased to state that prospects show a very fair improvement," The No. 2 dredge won 420z for 37 hours' dredging. Tho .ground still beeps very rough, and prospects ■■■ continue very good. If everything goes well until the end of the week a return of over 10907, should be won. Tho river is still very low, but is a few inches higher than at tho beginning of last week. The master roports that work was carried, on on the Waikaia dredgo on the extreme section up to 31st ult. (tbo date of writing), when the dredgo was shifted into the middle scction. Tho ground in the east section continues _ poor, and as this seotion 28 now workod up do,TO to the terrace 310 further' work will be done there for some, months. During the last few days the reef lose /to lGft with 20ft to 25ft in the middle section. Tho total length of the face wag chains. During the next few weeks X will loso some timo iai lipping, riveting, bucketing elevator and main buckets. Tho repairs to tho ladder of the Lady Roxburgh dredge are not yot completed, but arc expected to be finished in a few days. It has. been found necessary to put in new diagonaJ irons and p-ates in placeß, and to ro-rivet many of the bulkheads and cross pieces of the ladder. The ground lately worked was very rough, and consequently severe on the ladder and buckets, the latter are having an overhaul, a number of new backs, links, and lipa,.having been sentj up. The screen is being taken off and boxes set up .iu lieu thereof.

The Sandy-Point macimo dredged 131 hours during tho week, the width of the out being 100 yds, and the distance worked ahead 12ft. Tho overage depth was 28ft, average' height of the faoe above water level 20ft. Prospects and the sample of gold are about tho same as during tho previous week. The mister stopped nine hours aiid aAalf on Saturday turning the lower tumblers and. also the lowor tumbler bushes, 'Jle dredgemaster. of the Mamiherikia dredge reports under date 31st' ult.; "The ground is very changeable and rough. Every. ■ thing is working well; the river is still keeping low, and there is vary indication of it keeping so for some time. I am dredging to a depth of 43ft." The directors of i::o Roxburgh Amalgamated Mining and Sluicing Company. fUd.), at their meeting yesterday, declared a dividend of 6d per share,_payable on' the 11th inst. They, also pay to reserve account £100. Alter making this payment tho reserve will stand at fflOO, whilo a substantial balance 33 a/t tho credit of tho hank account, . The master of tho Molyneux Kohinoor dredge reports: "I took mitoh . longer to open out than we expected, and did not <*et hoHom until Thursday morning. The ground is deep and wo cannot bottom in the deepest part, and aro working the cut from the centre of the,river to tho• east bank. Tho river rose on Friday or we would have probably been able to work the deep part. On Friday rooming wo had to undertake some, necessary-repair. The prospects aro fair and the gold is very flne." . The manager of the Mount Rex tin mine (Avooa) reports for the fortnight ended August 24 V "Crosscut extended 16ft; total distanco 44ft; country gra-ipie." Paterson'B EVeehold returns; No. 1 urcdge, 250z 12dwt for 133 hours: No. 2 dredge, 250z 12dwt lor 131 hours.

DUNEDIN STOCK EXCHANGE. Business on 'Change yesterday wa<i a little brisker. In the morning a pared of Rise and Shine stock was sold ait 20s, <uid at the afternoon call-over trading resulted in . a parcel of Manulierikia and one ol Riaing Suna ohanging hands at 10s Gd' and 20a xespeotivoly. Sales: -Manuharikio, 19a 6d; Rise and S'hine, 20s j Rising Sun, 20s. The following are yesterday's latest quotations, subject to the usual brokerage:— Drrdoino Stocks. , Clyde—Seniors ss. Electric—Buyers 15s Gd, tellers 17s. Golden Bed—Buyers 4s Cd, feUeTS 7s 6d, Hartley and Riley—Buyers 17s. Lady, Roxburgh (contrib.)-SBllors 6s. Manuherikia—Buyers 19s, sellers 19s 9d. Muddy Crook—Buyers 5s Gd. sellers lis. Now Fourteen-milo Beach—Buyers 7s 6d dia i sellers Is dis. ' New Trafalgar—Buyers 16s, sellers £li Bise and Shine—Sellers £1 Is. Sim—Buyers 19s Gd, sellers £1 0s Sailor's Bend—Buyers 53 3d, sellers 9s; ' Mining Stocks. ' Talisman Consolidated—Sellers £2 8s 9d. Tasmmian Copper-Buyors lis 6d, sellers 13s 3d. Waihii—Sellers £8 17s Gd. Big Kiver—Buyers 10s, sellers 12s. Gd. Ngatiwar-Buyers Is 50, sollers Is Bd. Investment Stocks. National Bank—Buyers £5 9s, sellers £5 10s. ' , National Insurance—Buyers £1 Gs 9d. New Zealand Paper Mills—Sellers £1 is D.I.C. (pref.)—Sellers £1 3s 3d. National Mortgage—Buyers £3' 2s, sellers £3 ss. •IClburn Lime (20s- paid)— Buyers £1 73. New Zealand Drug (tOs paid)— Buyers £2 10s 9d. New Zealand Portland Ciment—Sollers £1 17s Gd.

WELLINGTON STOCK EXCHANGE. (Fhom Our Own Correspondent.) ■ WELLING TON, September 4, Waihis wore, taken at-i3 lGs, ex dividend, aid Talismans wero easier' at 495, sellers, Rising Sun scrip changed hands at lid. • THE'"GOLD EXPORT. (Per United Press Association.) WEL-LI^GTON, September 4. The gold entered for export last month totaJea 50,9510z, valued at £203,565, as against 41,6600z, valued at £167,456, for August, 1306. ROSS GOLDFIELDS COMPANS. (Per United Press Association.) HOKITIKA, September 4. The Ross Goldfields Company (Limited), with a capital of £80,000, was registered to-day The company . will umrater aud work the deep levels of Ross Flat, which have long beon inaccessible owing to water. The Government is to furnish a subsidy of £16,000, The company will uso electrical power, derived from Lake Kanieri. Lator oh it is expected powor will bo for sale, when it will he most useful for industrial development. The firs! directors of the company include the Hon. J. D. Ormond (Napier) and Mr J. F. Welch. (Wellington). Thirty-five thousand shares have .so far been issued and underwritten, while 10,000 aTe held in reserve. The remaining 35,000 shares are paid up. The registered offioo of the company will bo at Hokitika. Mi H. M, Smyth is engineer to the company, and tho local directors are Mir H. L. Michel, Mr J. A. Murdoch, and Mr J. Griminond.