MINING.

Otago Daily Times, Issue 14087, 16 December 1907, Page 6

MINING.

The river height oil Saturday monuii" nns 9!t Gin; the weather was miid. ° „In forwarding his return the Alexandra Eureka dredgemaster says:—"Two days lost in cwiMTjiience elevator spur wheel breaking." The Piint dredgeniaster advises: "Prosp?cts fair." The following telegiam re the Talisman nunc was postal at the Exchange on Saturday:—"No. 11 south—Progress 86ft, reef wider than drive, assay, average lis 9d; No. 12 winze—4oft, reef wider than winze, assay average £1 8a lid; No. 12 level .aouth—4lft, width of reef 6ft, assay average £4* 2s; No. 12 rise—3ft, reef 4Jft wide, assay average £2 9s; No. 13 rise—17ft, reef 2ft wide, assay average £3 19s; No. 3 level south—lift, reef 05ft wide; assay average £11 17s Gd; No. 8 riseSift, yeif 12in wide, average assay 4s Od. The Golden Bed dredgeniaster wires from Miller's Flat:—"No washup for week ending Jecembcr H; ground very poor." r The Golden Gate master wires:—"River steady " A splendid yield has been obtained by tho Portuguese Flat Hydraulic Company, Ballarat (Victoria). During a month's work 409J0/, of gold were won, and a further 21oz were obtained from concentrates, making the total gold output ISOjoz, which would mult in a profit of approximately £1003. ■ 1

DREDGING RETURNS.

Oz. dwt. gr. lioputai, Waikaia, ISOlirs .. 70 19 0 Golden Treasure. Miller's Flat 5S 10 0 Mystery Flat, Waikaia, 137hrs 57 10 0 Munuherikia, Alexandra, 132hrs 51 0 0 Alexandra Eureka, Alexandra .. 4!) 7 o Rise and Shine No. 2, Clutha River, 13Ghrs .. .. .. ~ 45 9 0 Rising Sun, Cromwell, 1301ns .. 44 8 0 Rise nnd Shine No. 1, Clutha River, 138hrs 42 5 0 Waikaia, Waikaia, 133hrs .. 41 13 0 Woikaka Queen, Waikaka, 132brs 38 10 0 Kura, Waikaia, 139hrs .. .. 33 10 0 Waikaka United No. 2, Waikaka, 122hrs 36 14 0 Punt, Clutha River, 136hrs .. :iG 2 0 Chicago, Alexaijdra, 146hrs .. 28 11 12 Waikaka United No, 1, Waikika. 13'2hrs 25 9 0 Otago No. 2, Island Block .. 23 0 0 Otago No. 1, Miller's Flat. 23 0 0 Charlton Croek, Gore, week .. 21 0 0 Muddy Creek, Waikaia, 127hrs 20 5 0 Sandy Point, Alexandra, 120hrs 20 0 0 Mast-jrton, Waikaia, l,l7hrs .. 19 12 0 New Roxburgh Jubi'.cc. Roxburgh 18 3 0 Molynoux Kohinoor, Roxburgh, • 7ahrs i; 14 0 Hessey s, waikaia, 82hrs .. 15 14 0 Central Charlton, Gore, 139hrs 15 11 0 Golden Gate, Miller's Flat .. 15 9 0 Enterprise. Alexandra, 128hrs .. 15 3 0 Clutha River, Clutha River, 12Chrs 14 1G 0 Royal Waimumu. Gore, 133hrs 14 10 0 Gold King, Roxburgh .... 13 0 0 Sv.-itzers, Waikaia, lOfihrs .. 10 8 0 Garden Gully, Waikaka, 3 (lavs 7 5 0 Total 003 G 12 t The West Coast. Paetolus No, 2, 120hrs .. .. 228 10 0 No Town Creek, 104hrs 0 0 Paetolus No. 1, 12Shrs .. .. 42 10 0 Blackwater -River, ISVhrs .. .. 37 10 0 Slab Hut Creek, 170hrs .. .. 28 7 0 Antonio's Flat, 120hrs .. .. 25 10 0 Callaghar.'s Creek, UShrs... .. 20 0 0 Total .. 429 7 0 DUNEDIN STOCK EXCHANGE. At Saturday's call two parcels of Kura scrip wore sold at 2os, the closing quotes in the clock being buyers 24?, sellers 275. Tho following are Saturday's latest quotations, subject to the usual brokerage:— Dredging Stocks. Alexandra Eureka—Sellers 7s. Bigneil's No Town—Buyers 2s, sellers 4s. Central Charlton—Sollers Ss. Charlton Creek—Buyers 4s 3d. Chicago—Sollers 10a. Electric—Buyers 9s, sellers 13b. Kura—Buyers _245, sellers 275. Enterprise—Sellers 4s Gd. Golden Bed—Buyers 5s Gd. ( Manuherikia—Buyers 15s, sellers lGs 6d. Mftstcrton— Sellers 50s. Molyneux Kohinoor—Sellers 3s, Nclsan Creek—Sellers lis. New Roxburgh Jubiloo (paids)—Buyers 7s Gd, sellers It's. No Tov/n Oreek—Buyers 7s 3d. Paetolus— Sellers 30s. Rising Sun—Buyers ISs Gd, sellers 20s. Royal Waimumu—Buyers Is. Mixing Stocks. Talisman' Consolidated—Sellers £-2 14s. W-aihi—Buyers £8 Gs Gd. sellers £8 Bs. Big, River—Buyers 12s 9d. Golden Belts—Buyers 2s lid, sellers 3s 3d.

Investment Stocks National Bank—Sellers £5 7s 6d. : New Zealand Insurance—Sellers £4 Is 6d. Standard Insurance—Buyers £1 3s, sellers £1 4s.

Union Steam Ship Company (altered denomination)— Buyers £1 10s. Westport Stockton—Sellers 2s Gd p. Westport Coal—Buyers £7 lGs 3d. Perpetual irustees—Buyers 18s 9d, Milburn Lime (20s paid)— Sellers' 27s Gd, Milburn Lime (10s paid)— Sellers 13a 6d. Mosgiel Woollen—Buyers £2 18s. N.Z. Portland Cement—Sellers £1 10s. Donaghy's Rope—Buyers £5 15s.

BIG RIVER MINE. . (Fhom Our Own- Correspondent.) REEFTOIv, December 15. Tho Big River mine manager reports:— " Driving No. 9 south was continued on a good reef track carrying quartz boulders. Risen for leading stope over branch level, and started stoping towards crosscut on an average width of 10ft of stone of good quality. Have been prospecting in No. 2 level 011 a likely-looking reef track, which opened to 18in of clean stone, but has now pinched to a few inches. Fifty tons of stone wero broken out for the week."

GREYMOUTH NOTES. (From Our Own Correspondent.)

GREYMOUTH, December 15. Word was received yesterday that operations in connection with the working of the William Tell reefs at Ross were to be commenced immediately. A battery for the purpose is 011 its wav to the southern township. Fully Oj men will be employed at the reefs. WEST COAST OIL FIELDS. (From Our Own Correspondent.) GREYMOUTH, December 15. Boring for oil at Kotuku is kept going as steadily as has been the case for the past couple of years, but progress will bo considered slow by all who have 110 experience in boring for oil. The indications still remain excellent. Tho boring tools are down amongst slate, which is usually close to the oil deposit, and is always regarded as an unerring indication. The bore is constantly sending up no end of gas, which is also another indication of the proximity of oil. The bore-holo has not yet- readied the thousand feet level, and the exact depth at which oil in quantity may be looked fot is, of coursc, pure speculation. Some of the bores in Canada and the United States run to between 2000 ft and 3000lt. In at least one instance a bore has been put down 5000 ft, and still 110 oil.

GOLD PRODUCTION OF VICTORIA. The followimr table shows the amount of gold won in Victoria, per year for the past 5G years, the aggregate value thereof, and the total amount ot dividends paid yea: by year by Victorian public'companies:—. Dividends paid by public' From Ounces, companies, 1851 to 1696 61.034,632 £519,695 8 During IK" 812,766 537,091 7 1898 837,257 G15.G34 6 ™ 854.500 566,305 4 i 00:» 807,407 453,332 11 789,562 427,997 8 1902 777,7,18 472,135 4 l 90:l 822,424 GD1,152 1G 1901 .. .. .. 821,017 611,397 17 1905 810030 451,42-' 18 1906 _ .534,775 484,703 2 1907 (nine months) .. 515,556 222,061 14 Total gold yield, 89,747.7G103, valued at £278,650,034, of which £5,975,025 lias beeu returned to shareholders ill dividends bv public companies,.

DREDGING IN MANILA. PARACALE GOLD DREDGING COMPANY.

The Jirst annual meeting of shareholders ill the Paracale Gold Dredging Company (Limited) was held at the ofiiccs of the company yesterday evening. llr W. J. Love, chairman of directors, presided, and about 12 shareholders were present. directors reported that the work of getting iho dreoge dismantled, transported, and re-erected on new pontoons on the Paracale River had been satisfactorily carried out under the supervision ot Mr Joseph Pearson. The cost of the works had cxeeedctl estimates, due to unforeseen difficulties in connection with freights, supplies, etc., in » comparatively new country. The dredge commenced regular work in October, and large quantities of black sand, valued at approximately from £'40 to £50 )icr ton. were already stored at Paracale; also 40oz of retorted gold. Unfortunately, word bad arrived that a new boiler was absolutely indispensable, the old boiler having, according to the cable, ''burst." A new boiler was being procured in Manila, and they awaited a letter now in the post us to full particulars. The directors had used every endeavour to keep the company's expenses within the limits of available capital, but at date of completion of the dredge it was found necessary to raiso money to get a start, and it wa3 arranged for advances to be made in Manila up to £'1500 on security of the dredge. The future of the venture being'now practically assured, it rested with shareholders fo' consider the advisability or otherwise of making arrangements to clear off all indebtedness to outside sourcos.

In moving the adoption of the report Mr Wilkinson said that painting, packing, and transport of the dredge piecemeal to Manila had been a work of soma difficulty, ss had been the getting of the dredge from the seaport to the claim. People of all nations had assisted in getting up the pontoons, and the scow which contained the machinery had narrowly escaped being wrecked by a typhoon. Tho dredjemaster (Mr Kane) deserved and )>03 c ess£<l the confidence of tho directors, and of the men who wore under his orders. Directly the dredge started working (It* claim was found to be rich, but sinco Mr Kane had been down wit.li fever the returns had not been quite so good. Tho directors were satisfied that the goldproducing qualities of the claim were very good, ond Government experts were of the opinion that the black sand, of which there was an abundance, was capable of yielding from £30 to £t0 worth of gold a day. A good deal of this could be crushed and amalgamated on the dredge. Improvements had, however, to bo made, and the dredge had to be got into thorough working order. The accident to the boiler had probably occurred during the illness of the dredgemaster. Mr Chiaroni seoonded tho motion, and the report was adopted.

After some discuseion, it was decided that tho necessary steps be taken by the directors to increaso the capital of tho company by £2000, instead of having £1500 on mortgage m Manila; also to support the directors in sending a business to that country at the earliest opportunity. The offer of Mr Blair Mason to impart to the outgoing agent what 1» knew of the treatment of black sand was accepted with alacrity. • Mt William Grev (the retiring director) and Mr V. E. C. Eeid (the retiring auditor) were re-elected.