MINING.

Otago Daily Times, Issue 14457, 25 February 1909, Page 9

MINING.

Tho height of the river was sft above the normal mark at Alexandra yesterday. There was no sitting of the Stock Exchange yesterday. Tho Sandy Point dredge has boon undergoing repairs all tho past weok. The Cromwell Argus reports that the river is falling fast, now, and that there is every prospect of an exceptionally low river this winter. The master of the Punt dredge reports having Iraon engaged in repairing work all last week, and in carrying out. some necessary alterations. He has got tho buckets all rivclal up and put back. Dredging was recommenced at 7 p.m. on Monday. Tito secretary of the Otago Company reports a good run from the No. 1 dredge last week. The No. 2 dredge was engaged all the week haling out live paddock. If Hie river keeps steady the returns from this dredge should improve. The Cromwell Argus states that there is very keen inquiry for the Luggate Hydraulic Sluicing ehares, and it is reported some ■•hares have boen sold at over double the original cost. Tho prospects are believed lo bo exceptionally good The Rise and Shine Xo. 1 dredge worked 4ft ahead last week. The tut was 500 ft wide, and from 42ft to 48ft deep, with 'Ift of material above water level. Prospects «' good at the end of tho week. The N'o. 2 dredge worked 3ft ahead on a cut of 520N, with a depth varying from 30ft to46ft. Tlie bottom was of clay and sandstone. The better portion of the cut. was crossed twice, liauca the improved return. Tlio master of ,the Electric No. 1 dredge reports that during the past week the dredge wai .steadily working through tailings, and re-ached the umlrougetl ground on Saturday. t!ra prospects being so far moderate, 'tho ground has got much rougher, and they arc getting tin in the grabs small limber and large tree trunks. The bottom consists of dark reddish pipeclay, and is getting shallower on the south side. The Xo ; 2 tlnxigemaster writes as follows: — ''The dredge for the past week worked ahead 48ft. the cut being about EOft wido and ill-? dredging depth about 26ft. The ground showed an improvement towards the end of the week. We are getting solid ground next the Bannockbnrn side, but further out. in (he river it appears to hare been worked. It is quite possible, therefore, that we are still behind tlic face worked by the Itanfurly (Electric No. I) dredge? in spite of tire fact that we are ahead of the point where it was expected to pick up the faoe. During the \reek a good deal of time wa-s lost fixing new corners on the top tumbler, and also through th» rings, bri.akjrjgr

Great interest is being taken in the application for Iho Atliciirtnim Endowment at Cromwell (rays tho Argus), anil as the ground is running parallel with the Rise ami Shine claim, ami on tho outside boundary of tho endowment rich gold was ..of In the early sixties, it looks as certain as any mining- speculation can he of out a very rich claim. If Ihe transfer can Ih> oft'eeled with the parlies inten«t«l i:nt-is-facloi'ily, there would he no question about. an up-lodnta dredge being put on the claim at once, as sufficient capital could lie obtained in a dn-y locally for the whole outlay requiwil. Quite a'number of Hie local citizens are wondering how it can bo arranged for the trust to get suitable compensation, and others again are against the exchange heiug made at all. •WELLINGTON STTXK exchange. (Fboh Our Own Corhf.ri'oniient.) WELLINGTON, February 24. Stock Exchange sales to-day were:Nolional Tnsuranco, £1 8s; Talisman, £2 6* Business for the past few davs has hceii rather dull.

THAMES DEEP LEVELS. ACTIVE OPERATORS SUGGESTED. (Pee United Press Association.) AUCKLAND. February 24. Members of the Auckland Slock Uschange dossed the question of the Thames deep levels development to-dav. The (Ilniruian (Mr G. A. Buttle) said if was siv months since the lirst meet ins over the business was held, and still nothing definite had been agreed upon by the various companies interested. Apparently all had agreed that il, was desirable lo put in a eiwcttt at the IOOOfI. level, but each company wanted that, lo go in a direction best soiled for itself. In order lo Irv and get something ileliniie done lie moved-"That Ibis Exchange hns viewed with satisfaction the proposal to drive a crass-cut at the 1000 ft love! from the Thames Ilauraki shaft under this portion of the Thames goldfiekl which m past years proved so highly auriferous Hi the upper levels, but, it, regrets that tho directors oT (he companies inleresled have as yet arrived at no satisfactory agreement as (o the course, which the said' crassout should take, and would respectfully suggest jnat a binding agreement he entcrecMnUi bv the companies whereby Ihe question of the route of the crosscut should bo submitted to outside parlies, whose decision shall be accepted as final, and the work entered upon as speedily as possible " Mr Buttle said that. £20.000 was a. mere "flea- , ?, J", i 1 wovk of so mw]l iuiporlauco o the field All the companies would have to find would he half that amount, as Up Government and Peal bodies at Thames woulrl raise, the rest. There were no (wo opinions about the wisdom of putting j„ such a crosscut, and he believed it would result in further rich patches of ore discovered. The motion was adopted °