MINING.

Otago Daily Times, Issue 14281, 1 August 1908, Page 12

MINING.

The height of the river was still 6ft above the normal mark at Alexandra yesterday, after another ted frost. A return of lOoz 9dwt. for the week is reported by the tributors of the Clutha River (hedge. The secretary of the Welshman's Company reports that dredging was resumed on Tuesday afterncon. The following cable hue been forwarded from Karangahako to the Talisman Company's London office:—" No. 11 level south, progress 7ft; No. 12 'level 6outli, progress 27ft; No. 12 winz at 414 ft south, progress 14ft. Reof wider than winz; assay value, £16; No. 13 level, No. 12 rue, progress ( 12ft; reef, 2ft; assav value £3 16, Crossout west, 466 ft south. Commenced drive north, progress 24ft; reef, 42in; assay value, _ £22. South drive, progress sft, reef 57an; a-ssay value, £15 7s 6d." Word was rooeived yesterday from tho Bignall's No Town dredgemaster that the paddock 16 now clear, but lie oxpects to be cramped for room for a few days. DREDGING RETURNS. 07.. dw-t. gr. ivoputai, Waikaia, 138hrs ... 67 17 0 Masterton, "Waikaia, 135hrs 53 8 0 , Mystery Flat, Waikaia, 158hrs 50 4 0 Lady Roxburgh, Roxburgh, broken week 49 10 0 Waikaia, Waikaia, fortnight 23 1 0 Central Charlton, near Gore, 135hrs 22 u 0 Chicago, Alexandra, 128hre ... 19 15 0 Hartley and Riley, Cromwell, 9&hrs 19 9 0 Muddy Creek, Waikaia, 123bre 14 6 0 ICum, Waikaia, 1371rrs 12 15 0 Clutha River, Clutha River, week 10 9 0 DUNEDIN STOCK EXCHANGE. Business for the week in dredging shares has ken somewhat restricted, and the unsettled state of the weather has affected rived' stocks. Tho river is once more flattering holders of {forgo dredging stocks with prospects of being at a dredgeablo level shortly. Electrics are quoted lower Uian thev have been at uiiy tiino in tho history of the <»rnpany, and Golden Beds eas«J several shillings on recent quotations. New Trafalgar, as tie result, of improved returns, show a, firming tendency. Rise and Shinee are', wanted at about 2s in advance of prices 10 days ago, and Rising Suns are also in demand at improved rates. This dredge has been undergoing an overhaul, but, should soon bo again in commission. In quartz Big Rivers are in demand at about £1 lis, while Talismans a,to bandied in fair numbers by Dimedin sharsbrokers. .Other lines dealt in here during the week aro Waihis, Waihi Grand Junctions, and Tangiaroas. • Tho investment market is sound, the majority of stocks 'being slightly firmer. The exceptions are Bank of New Zealands, National Banks, Westport Coals, and Portland ' Cements.' Tho only sale transacted on 'Change yesterday was m Bank of New Zealand*, a parcel of which changed hands ai, £9. Sale.—Bank of New Zealand. £9. The following are yesterday's latest quotations. subject to the usual brokerage: — Dhedginc Stocks Alexandra Eureka—Sellers 4s. Alexandra Lead—Sellers 3s. Bigncll's No Town—Buyers Is, sellers Is 9d. Chicago—Sellers 8,3 3d. Enterprise—Sellers 3s. Golden Bed—Buyers Bs, sellers 9s 3d. Hartley and Riley—Sellers 18s, Lady Roxburgh (contrib,)—Buyers 8s 3d, Rollers 8s 6d. Lady Roxburgh (paid)— Buyers 10s, sellers lis. Molvneux Kohinoor—Buvcrs Is, selleas 2s. _ Now Fourteen Mile Beach—Sellers par. Now Trafalgar—Buyers 18s, sellers £1 0a 6d. No Town Creek—Sellers 10s. Rise and Shine—Buyers £1 12s 3d, Rising Sun—Buyers £1 14s 6d. Sailor's Bend—Sellers 15s 9d. Mining Stocks. Big River—Buyers £1 10s, sellers £2. Taemanian Copper—Buyers 6s, sellers 7s 9d. Tangiaroi—Buyers Is 7d. Talisman Consolidated—Buyers £2 6s 6d, sellers £2 7s 6d. Waihi Grand Junction—Buyers £1 126, eellers £1 14s. Investment Stocks. Standard Insurance—Buyors £1 2s. Duncdin Stock Exchange 'Propy.—Buvcrs £2 4s. New Zealand Paper Mills—Buyers £1 3s, sellers £1 3s 4-jd. Now Zealand Portland Cement—Sellers £1 ss. How Zealand Portland Cement (new issue)— Buyers 4s (pr<!m.), sellers 4s 6d (prom.). Otago Daily Times—Sellers £21. AUCKLAND RETUBNS. (Per United Peess Association.) AUCKLAND, July 31. During the past month the gold returns from the Auckland district mines reached a total of £105,281 15s 3d. This slioiva.a slight decrease on the output for June (£107,869 6s 3d), and was exceeded in the corresponding month of last year, when the total returns amounted to £114,242. On tho present occasion the Waiotahi return' has not oonje to hand, wltieli would account for mc6t of the difference between the .Tune and July totals. The -post month's returns are made up as follow:,—Obinomuri. £102,837; Thames. £1951 3s 6d; Coronmndel,'£493 lis 9d;-total, £105,281 15s 3d. WAIOTAHI COMPANY. (Per United Pbess Association.) AUCKLAND, .July 31. The annual meeting of shareholders in the Waiotahi (i.M. Company was hold' today, when there was a large attendance. Sir Charles Hudson presided. The directors' annual report stated that 5962 tons of quartz had been crushod, for a return of 18,5590z lOdwt gold, which had. been sold for £49,612 3s lOd, from which amount had been ctoduoted £14 4s Sd, the amount paid for tailings purchased, leaving a balance of £49,597 19s sd. Tho balanoe brought forward from the previous year was £29,158 4s Ud, to which litwl to be added the prooeode of tho gold a.nd the interest on deposits, £50,051 4s 3d ;—total, £79,209 9s 2d. The disbiireerneuts had been as follow;— Cost of mining operations, £14.707 &9d; expenses outride raining (including taxes £1148 4-s), £1962 Is lid; dividends paid, £45,000; —total, £61,669 IDs 8d; leaving a balance of £17,539 18s 6d. Since the closc of the year a dividend of 3d per share has been paid, absorbing £3003 of the above balance. GOLD IN THE UREWERA COUNTRY. (Prom Our Own Correspondent.) AUCKLAND, July 31. A gold-miner of extonsTvc experience who has been prospecting in the Urcwera country ami in tho Taupo district has just returned to Auckland, and lie makes a ratlior interesting statement, slating that he is well satisfied, indeed pleaded, with what he found in Urowera. Ho is confident that an extensive goldfield can bo opened up in Urcwera, as ho found plenty of large reefs, well defined and carryin" good gold. These roefs only required to lie opened up, and he is confident that assay reports will prove tihoin of great value. He also discovered alluvial gold, but docs not plaoe much hope in this discovery, be- , lieving that the alluvial gold was only tJie Mteojne of a roof pop. biPiwo by tlno

weather and worked down by I.lm stream to (he alluvial gravel. Provided satisfactory arrangements can ho. made with the ■Natives to open up the territory for mming, there should soon ho great goldfickls worked in the Taupo and Urewera districts. Ho also stales that other valuable minerals are to be found in ilie Urewera, and predicts thai before long some very rich finds will lxi made there. 'Hie country, however, is very rough and broken, ami prospectors must expect a lot of hardship.