MINING.

Otago Daily Times, Issue 14156, 7 March 1908, Page 12

MINING.

The river dropped an inch on Thursday, and yesterday morning registered Bft 11m abovo the nornre'l marK at Alexandra, The weather, was overcast.

.A wire from Roxburgh announces that the Ladyamith Sluicing Company has washed up for Uloz lor four weeks' sluicing. The Lady Roxburgh clreugemastei this week reports a return of 420z lodwt ltigr, The falling oif is due to the high, river.

The Chicago dredge lost time owing to boiler inspection.

• The Moiyneux Kohinoor dredgemaster wired yesterday that ho hid struck wash showing good prospects.

The. Mount Benger Mail understands that the syndicate forme'd to work Parker's roof has now made a. start with operations.— Some prospecting work has been done lately in Potter's Gully.

It is freely reported' that the private company's dredge, working at the junction of the two rivers at Cromweil, is obtaining returns approaching 50oz a week. The New Roxburgh Jubilee dredgemaster wires that he only finished his repairs on Wednesday night, and lesumed dredging. Consequently tnere will be no wash-up tins week. The Rise and Shine Company's directors have declared a.'dividend of Is per share, payable on the 11th "inst. DREDGING RETURNS, •-' Oz. dwt. gr. Waikaia, Waikaia, 136hrs .. 95 10 0 Koputai, Waikaia, 138hrs .. 63 0 0 Mystery Plat, Waikaia, 136hrs.. 56 1C 0 Lady Roxburgh, Roxburgh .. 42 15 16 He&sey's, UaiKaju, loGors ~ 41 10 0 Maxterton, Waikaia,' 136hrs .. 28 4 0 Central Chariton, Gore, 131hrs 26 17 0 Kleotrio No. 1, Cromwell, 133hrs 20 13 0 Charlton Creek, Gore, 5 days .. 16 0 0 Chicago, Alexandra, HOhis ~ 15 18 6' Kura, Waikaia, 115hr9 .. 15 4 o Molyneux Kolunoor, Roxburgh, 116hrs .. .. 13 5 o Eleotric Nb. 2, Cromwell .. 13 5 o Switzers, "Waikaia, HOhrs .. 810 0

'DUNEDIN STOCK EXCHANGE. Goldeh Beds were quoted—buyers 12s, sellers 13s, at the morning' call yesterday, end at the afternoon call a parcel changed' bands at 12s 9d. Koputais (ex div.) are quoted at 45s to 47s fid, buyers and seJers respectively. Sales: Golden lied, 12s 9d; Milburn Lime and Cement (10a paid), 13s 10{d. The following are yesterday's latest quotations, subject to the usual brokerage:— Dbedoihg Stocks. Alexandra Eureka—Sellers 5s 6d. Bignell's No Town—Sellers 4s 6d. Blackwater (contrib.)—Sellers Ts 6d, Chicago—Buyers 4s, sellers 7e 6d. Electric—Sellers 12s. Enterprise—Sellers 5s 6d. Golden Bed—Buyers 12s, sellers 133. Hessey's—Sellers ss. Lady Roxburgh (contrib.)—Sellers 8s Hi, Ladysmith—Sellers Is 6dp, Koputai (ex div'J-Buyers £2 ss, sellers £2 7s 6d. • Muddy Creek—Buyers 16s. Nelson Creek—Sellers 9s. New Roxburgh Jubilee—Buyers Is 6d. Now Trafalgar—Sellers 19s. Olrig—Buyers Is 6d. Pactolus—Buyers £1 4s, sellers £1 ss. Rise and Shine—Buyers £1 4s 6d, sellers £1 6s. . Rising Sun—Buyers £1 4s 3d, Bellers £1 5s 6d. ■ . • Waibaka Queen—Buyers 4s, sellers 6s, Mining Stocks. Talisman Consolidated—Buyere £2 13s, sellers £2 l'Ss 6d. ■ Roxburgh Amalgamated—Sellers Bs, Waihi—Buyers £9, sellers £9 is. Barewcod—Buyers 6s. INVESTMENT STOCKS. National Bank—Buyers £5 6s 6d. National Insurance—Sellers £1 8s 3d. Wostport Stockton-rSellers 2s 9d p. West-port Coal—Sellers £7 83. New Zealand Coal and Oil—Buyers 9d, sellers Is 6d. ■ New Zealand Paper Mills—Sellers £1 3s 6d. D.I.C. (ordinary)— Buyers ss. D.I.C. (pref.)-Sellcrs £1 3s. Dunedin Stock Exchange ProprietaryBuyers £2. National £3 4s. Perpetual Trustees—Buyers 18s 61 • Milburn Lime (£1 paid)— Buyers £1 7s, Milburn Lime (10s paid)— Buyers 13s 7Jd, ■ Mosgiel—Sellers £3 2s 3d. Now Zealand Drug (£2 paid)— Sellers £2 12s 3d.' New Zealand Portland Cement—Sellers £1 •14s.

WELLINGTON STOCK EXCHANGE. (Fkom Our. Own Correspondent.) WELLINGTON, March 6, On the- Stock Exchange to-day Waihi snares were sold at £9.

■ NOTES FROM CROMWELL. (From Our Own ■ Correspondent.)

CROMWELL, March 6.

Mining 1 matters are quiet, tho rise in the 'river ■ having affected toe returns from the Electrics and others.

The Shine No. 2 is on splendid ground, and there is every prospect of the No. 1 getting on to improved ground shortly., This stock is looked upon locally as a great property.

There is very keen competition for water in all parts of the district, and several applications were before tho Warden's Count yesterday for w*ter lights at the Upper Nevis. There is every appearance of a strong revival in reefing.

THE TALISMAN DIRECTORATE. (Per United Press Association.) AUCKLAND, March G. At a meeting of the Talisman shareholders to-day the question of tho nomination of a colonial representative on the board, as to which there had arisen a ' difference of opinion between the Auckland and Wellington shareholders' committees, was discussed. Dr Knight and Mr Weston represented the Wellington Committee. A resolution was oarried approving of the actions of the Auckland Committee, particularly in opposing the candidature of Mr George Wilson. ll'was also resolved that, failing being able to find a colonial resident in London to represent colonial shareholders, the Auckland Committee should nominate Mr James, reserving tho right to nominate a Louden colonial rvs soon as a suikblo mm could be found,

WAIHI YIELDS. . (Pee United Press Association) AUCKLAND, March 6. During the five weeks ended Fobruary 21 the Waihi Gold Mining Company crushed and treated 29,837 tons of ore for a return of bullion valued at £63,860.1 Compared with tho return for the corresponding period of last y«ur (£66,060) from 27,453 tons, this shorn ».n increase of over £2000. The return is also but £1000 short of the record yield from the mine, that for April, 1906 (£69,906). The yield for January last was £60,241 fom 25,133 tons. The total amount wan from the mine to date is £6,415,729. ODRIG DREDGING COMPANY. The adjourned ninth annual meeting of the Olrig Dredging Company was held yesterday afternoon, Mr Thos. Glcndining in tha chair. , . The Chairman,. in moving the adoption of the report (already published) a-nd balance sheet said there was not ranch to say further than that the dredge had been working pretty consistently since she had been converted from steam to wator power. She had been laid up lately for want of water, but it was expected she would start again next week.' It was anticipated there would thea be sufficient water. Ho men&lnod the fact that Mr Howlett had sent in his resi<ration as director since the issna of the rep°ort. Mt Howlett had been a Tory good director! and his advice had always boon looked upon as valuable. Mr H. Adam seconded tho motion for the adoption of the report and balance sheet and naked if the ro'sult from the use of water had- justified tho change from steam. The Chairman said tboro v«s a savin'' in coal, but thoy had had to nay. far the race, ,

A shareholder mentioned thai under steam it liMl taken 14oz to 13oz 01 gold to run the dred«e; now it took o>o z Replying to a question, liio Chairman said they were tilting up another 100 acres till' (I" 1 ' 011 niUl l}Uk " Cl! 6hect ;were * hen Mr Jas. Rivers and Mr Wra, Slevenscn Reeled d.rccto,,, and Mr E. E S 3 MOUNT LYELIT RETURNS Press Association-By Telegraph-Copyright. n<> „ MELBOURNE, March fi 1 ™™"™. "turnfiL

IHE CO(,D tBOnuCTIOK OF VICTOEU. 4279,471,595. ' 69 ' 9o M«oz; vaiuo,

th. BUtotS P bv id veL PUbHo «»»*» in mUU ll!! 2 183 i 1M ' m ™ 2s; MO7,

DREDGING- IN BURMAH Cromwell fet' • ''T" resident of «* i£S •'lsat V* working for a dredging company in Burmah. »The (from veil Argus has been permitted'. to take the Mr FTe n 4n Xtr ThV r ° m & htt t r . Vom it { i. 77 he com P a "y which he is workS» ?' , haß dredges at work, sty ed respectively the Shamrock, Rose, and ThLt . High y payable returns are being obtained end for fte month prior to writing the respective dredges obtained 5900z, s<Woz, and «om, making a total of iffiOoi for the month SJ K^ T K e i,ltlividui,l lelum ™« that obtained by the Shamrock-viz., 2i6oz, for one week. The dredges are working very wide cuts, and the prospects are the same throughout. All the machines are much the same size, and are fitted with 20 h.p. engines, 40 h.p. boilers, and. 6ft buckets, with separate engines attached to the pumps. The writer speaks in flattering terms of the company s managers, Messrs Fache and Sanders, formerly residents of Central Otago. The company is I increasing its fleet, and another dredge is now,being built,'which will probably establish a record in this line. The hulls will measure 140 ft by 38ft, and 10ft buckets will be fitted,, the power being obtained by means of gas engines.. Among other things, Mr Frewen states that he likes the country, which is full of interest. Tigers, elephants, black bears.'jungle cats, etc., are numerous, and are frequently encountered.' "We ore," he concludes, "all Volunteers, and a sergeant comes up aiid puts us through, We are supplied with''rifle, uniform, and ammunition, and, of course, spend a lot of time shooting;"'