MINING.

Otago Daily Times, Issue 14381, 26 November 1908, Page 9

MINING.

No wire as to the height of the river was received by the Exchange from Alexandra yesterday. The Clutha River dredgo lost a boat last week through a large fall of earth coming down and breaking it up. From Saturday to Wednesday last the ground being worked by the Waika-ia dredge improved slightly', and a better sample of gold was got. After a wash-up the master stopped for repairs. The river level (says the Cromwell correspondent of tho .Dunstan Times) still remains too ,low to enable the Cromwell Syndicate's dredge to work into tho bank at the lower end of Cornish Point. The Rise and Shino No. 1 dredgo worked Bft ahead last week. The cut was 480 ft wide, and from 42ft to 48ft deep. There was but little ohange.in the character of tho ground. Tho No. 2 dredge Worked 4ft ahead on a cut of. 520 ft, with a depth varying from 42ft to 50ft. Tjiere was a slight improvement in the appearance of tho wash. ' The Punt dredge had a. fair run last week, and covered a good deal' of ground for a poor' return. Prospects continue patchy on the bottom, ..which is still chaining a good deal. The headline'will be shifted again next Tuesday to enable the dredge to work on the " Sun " boundary. The master of the Electric No. 1 dredge, reporting for the'week ended November Si, states that thc/orew has been 'employed repairing the elevator buckets,main ladder buckets, and elevator rollers, and repairs have also been made to Hie main engine and winch. The river still keeps at a low level. • Sutherland, the contractor for the additions to tho Hartley and Riley pontoons, is making good progress 'with tho work, Q3 one of the small pontoons is launched, and tho second noaring completionl Meanwhile the rtiedgemaster |Mr' Scott) and the crow arc busy giving tffe dredgo a thorough overhauling, and it will be in first-class order when dredging is ireeumed. The master of the Lady Roxburgh dredgo report* under date 23rd inst.:—"Arrived on end claim safely earjy to-day.' and got most of our moorings out.'' Bushes on lower tumbler require to bo changed before starting dredging; expect to get a start early next week. The heavy winds prevailing made it necessary for great care to be exercised in going 'up stream, ono day being lost owing to tho dredge being unable to leave her moorings'owing to high 'wind. The company's claim is part of Gold Deposit ami Molyncux Kohinoor claims, about 20 acres of the top portion of the latter having been pegged off." ..Tho Cromwoll Argus slates that a considerable amount of interest i 6 being taken in the Clutha river claims just now, and that it is more than likclv tliat a few more dredges will ,bo working above tho Lowbum within the next 12 months. At the present time the late Alpine No. 2 is undergoing an overhaul. A now bucket bolt will be put on, and dredging should be started within the,next few months'. Two other private parlies aro now looking out for a big boiler ami engine, as they intend placing up-to-date dredges on their olaims. The Electric No. 2 dredgeniaster writes as follows, under date November 23:—"1 fully expected to have had the dredge working during the middle of the week, but discovered a break in the lower angle-bar of tho ladder on tho port side,> dose to a joint of tho main plate. The repairs to this took up till Friday morning, Repairs were also done to. the buckets, ladder-rol-lers, and to ono of the boats'. Boisterous winds prevailed for tho latter end of the week, and after conference wjth the local director, in view'of .ike changeable weather and the probable rise in the river at any time, it was decided to dredge through the island and open out into the upper end of Cornish Beach, Dredging was accordingly resumed at 1 p.m. on Saturday at the place whoro dredging ceased a fortiiieht before." Writing on the 21st inst., tho master of -the New Trafalgar dredge reports having had a run of 125 hours.' The return was obtained from the creek side of the middle section. He is working across the headline, but in another three weeks he;will either have to work in or out. : By working in, the master considers that ho would 1)0 certain of solid returns for a month or {wo, as he has opened a nice face of good wash on the inside; but to .work out/and up would be the most systematic way of treating- the claim. ; , , . ' j The' Nevis correspodent of tho Cromwell Argus writes that so far nothing has been done to raise the Ngapara No. II dredge that was scuttled to put tho fire out. As the paddock can be drained the expense of lifting should not be great, but unfortunately there is not a great demand for dredging plant, as hydraulic the principal work- there. Quite a number of the local shareholders in tho Electrio Company (says tUe Cromwell Argus) aro disappointed that the 'directors are not making any move to place one of the dredges on a Clutha River claim, as they have now vory little maiden ground left on their present claim. There is. a, large credit balance still in hand, and there is & feeling this will bo frittered away in working old ground. There are no two opinions a 6 to either of Ihese dredges being able to work successfully >, on the Clutha, and this would give the company a life of fully 15 years. ' The first signs of increased 'activjty- at .the Tasmanian Smelting Oompanfs works at Zeehan (Tasmania) are to be seen in their calling for tenders for additions to the converter machinory. At present 12 roasters are in use, but it is intended to add four more, and it' is for theso that tenders are invited. The works will bo closed for a fortnight at Christmas,; the interval will be utilised for making repairs and taking ..stock. _ . DUNEDIN STOCK EXCHANGE. The following are yesterday's latest quotations, subject to the usual brokerage:— .' DnnnajNo Stocks'. , Alexandra Eureka—Buyers 3s 9d, sellers 4s 6d. Blaekwater -Buyers Is 9d, sellers 2s 3d. , ' J ' Electrie-Buvers 2s 6d, sellers 3s 3d. Gblden Bed-Sellers 10s, Miinuherikia—Sellers 12«. - ■ ■ Mudd v Creek-Buyers £1 15s, sellers £2. Mystery Flat-Sellers £2. ,>' New Fourteen .Mile Beaoh—Sellers 45.. ' New Roxburgh Jubilee—Sellers 6s. , No Town Crock-Buyers 12s 6d, sellers 14s 6d.. Rise and Shina—Sellers £1 95.. Rising Sun-Buyers £} 12s, sellers £1 13s 9d. Miking Stocks. Big River-Buyers. £1 17s 6d. ' Tasmanian Copper—Buyers ss, sellers 6s. Welcome Quarh-Buyers & prem. Talisman Consolidated—Buyers £2 ls'6d, sellers £2 2s 6d. . Waihi-Sellors £9, Waihi Grand Junction-jSellers £1 13s 3d. Investment Stocks. Bank of New Zealand-Buyers £8 3b; Standard Insurance—Buyers £1 2s 6d, Westport Coal Company-Sellers £7 Is.' D.I.C. Pnef,-SelleK £1 2s 6d Kauri Timber—Buyers 15s 3d* New Zealand Drug Company (£2l—Sellers £2 10s. , New Zealand Paper Mills-Sellers £1 3s, New Zealand Portland Comcht-Scllers £1 8s 9d. WELLINGTON STOCK EXCHANGE. (From Oub Owh Cosbkspohdent.) WELLINGTON, November 25. Un the Exchange to-day Bonk of New Zealand shares wore sold at £8 2s 6d and Leyland O'Brien Timber at £l 2 3 . '