MINING.

Otago Daily Times, Issue 14465, 6 March 1909, Page 12

MINING.

Tie height cf the river was 4ft. Sin above tli.. iioniiul mark al Alexandra yesterday, i'ho weather continues mild. A wire received from the Mannlierikia dredgcimister yesterday states that he got Ixil.tom on Thursday. The drwlgcmasier' of (be Ni'w Roxburgh Jubilee Coinpany advises that, owing to being unable to bottom the deep ground lie pulled the dredge ahead, and lias just touched bottom. There will lie no wash-up this week. Tim Alexandra Herald prophesies that there will be. keen competition ai the sale of the Poiaeveranoe Company's dredges and eliums, as several parties are looking for dredges with claims. The master of the Sandy Point dredge reporting for the past week elates that, he i'ot the ladder lowered into position on Monday night. IK: has finished reriveting the. liners in the screen, and has completed the silt, elevator and top tumbler. The stays in the main ladder have teen cut out and riveted, but the elevator ladder has yet to be riveted. Dredging was resumed on 'Wednesday night. The pumping plant on the Alexandra. | Lead claim is working satisfactorily, and although t.lio riveir is very low with a small current the plant is pumping over two heads of water to the top of the bank. This is Mug need for sluicing off the overburden and keeping water in the paddock. According to the Herald, prospects at present are. encouraging, and with the top material being sluiced away it is nnliciixttod Ihero will bo an improvement in the returns. The Alexandra. Herald understands that steps.-will tie taken immediately by the Alexandra Antimony Committee towards tin.: 1 erection of smelting works at tho mine silo, which is situate iitst. above the Alexandra bridge. Mr Kingdom mining expert, is expected to arrive from Sydney this w.eelc to superintend the erection of the smelling plant. An order has been .given for the supply of bricks for the building, the commencement of which will lie undertaken a-t once. A large quantity of antimony ore has been taken out of the initio and this Is lying at the mine site ready for the smelter. There is also a large body of ore of high grade quality in sight, and as it- yields a good percentage of gold as well as antimony and silver there is every reason to anticipate that, the work of erecting the smelting plant will bs carried put with all possible haste. DREDGING RETURNS. Oz. dwt. gr. Mystery Flat, Wa.ika.ia. 13Shrs 48 2 0 Chicago, Alexandra, 13Jlirs ... 36 0 0 WaiUtiici, W'aika-ia, 132hrs ... 34 7 0 Masterlon. Waikaia. 139hw... 22 3 0 Kopitiai, Waikaia, 121hrs ... 20 4 0 King, HoxhungJi, week ... 19 11 0 Central Charlton, near Gore, lJ2hrs 17 0 0 Kura, Waiknia, 120hrs ... 15 6 0 Charlton Creek, nr Gore wl; 15 0 0 South Waikaia, Waikaia. ... 9 5 0 DUXEDIX STOCK EXCHANGE. The market this week shows a, rather better tone, and a fair amount of business has been done in investment stocks as well as in dredging and otlie-r mining business. National Ranks remain steady, and a sale was reported at £5 3s. National Insurance were sold at £1 8s 3d, and there are still buyers at that price or a rimde above it. A sale of Standard Insurance shares was reported at £1 2s (ex div.). Ninepence divided buyers and sellers of Union Steams, the closest quotations being £1 14s 9c! and £1 15s 6d. Westport Goafs have not been asked for since the tire broke out at Millerton, mir haw thev been offered on 'Change at blow £6 4s. The price asked for National Mortgages yesterday afternoon was £2 18-, with no declared haver, and Perpetual Trustees were offered at'lSs. An Side was reported yesterday in Dmidin Stock Exchange Proprietary shares at £2 10s. Buyers'are offering" £1 Is 6il for D.I.C. preference, but. the market appears to be fairly bare cf this stock at present. Miluuru Limes are now quoted ex dividend, and there was a buyer of the small issue yesterday morning at 15s 2d, with no belling offer, Now Zealand Drugs dunged I

kinds during the week at £2 8s 6d. and (ire. now tptolcd :i|, £2 Es 6d and £2 9s. Portland LVinc-nis vent. () n firming nniil « few days si.jf", when the top was rracliotl, and they have, now receded to £1 15s 9d Hlor). wit It only a weak demand. A sale of the n« i-e-ii*3 was reported at Ik promimn. A juii-cel of bingo Daily Times shares found «. purchaser at, £20 10s. In i|iuirl7, mining ihorn havo keen no special features calling for mention, extopi, perhaps, the report from the manager of the Welcome Ciininany al Barowoed, who has, liy the crosscut, intersected the lino of reef about 152 ft, from (lie mouth of the funnel. If the roof proves payable t!:i.s crosscut can Ixi carried in on" the linn of. roof a distance, thai will give, the company somo 60Cfl. or 800fi. of "backe." tho preprint the manager ha.s given no indication of the valuo of tho ledo struck. Talismans showed a slight' firming tendo.uoy yesterday, and wore quoted at £2 5s Ed «.ii(l £2 6s 3d. Sales wore reported in Wai.his at £8 16s (ex dividend). Grand Junctions ai'o sliyht.lv firmer, tliers being buyers at £1 6s, with se.llore at 6d in advance. A Fain was made, in the stock at £1 5s 10J<1 in tho weok. Hartley and Rileys changed hands on Wednesday at £1 Is, and the selling quotation yesterday was £1 2s, without a buyer. Island Mocks are wanted at 2s, but sellem are holding for Js. Ma.nuhorikias were sold duriiijr tho wsek at 12s, and aro now firmer, the latest quotations being 12a 6;1 and 14s for buyers and Millers respectively. The upward movemont is duo to the dredge starting again on Tuesday and fjol-tin-tp bottom 'on Thursday. There is a demand for Muddy Creeks at £2 ss, but lliero arc .no declared sellers. Mystery Flats havo been on olfcr during the wool; at £1 16s, without buyers. No Towns aro wanted at 10s, with none offering. A sale was recorded in Riso mid Sitincs at £1 13s 6d, and the closing quotations arebuyer £1 12s 9<l, sellers £1 14 s . There v.'cro no inqui-rios for Rising Suns, and sellers wore asking £1 15s 6d. Sailor's Bend aro slightly firmer, and ore wanted at up to 10s 6d, with «. seller at 14s.

Sales reported:—Waihi Grand Junction, £1 fo; National Bank, £5 3s: Standard Insurance, £1 2s; Waihi, £8 16s; Stock Exchange Proprietary, £2 10s. Tho following arc yesterday's latest quotations, subject to the usual brokerage: — DnnncixG Stocks. Elackwater (eontirih.)—Sellers 2s 6d. Chicago—Buvere 6s. Electric-Buyers 2s 6d, sellers ss. Golden IVd—Buyers ss, sellers 7s. Hartley and Riloy-Sellers £1 2s. Island Block—Buyers Is 9d, sellers 3s. Manuherikia—Buyers 12s 6d, sellers 14s. Molyneux Hydraulic—Buyers Is Cd. Muddy Creek-Buyers £2 ss. Rise and Shi.no—Sellers £1 lis. Sailor's Bend—Buyers 9s 6d, sellers 15s. Mixi.vg Stocks. Talisman Consolidated—Buyers £2 5s 9d, sellers £2 6s 3d. "Waihi Grand Junction—Buyers £1 6s, sellers £1 6s 6d. : IxvrsTMKNT Stocks. National Insurance—Buyers £1 8s 3d. Standard Insurance -Sellers £1 ?.s 6(1. National .Mortgage.. Company—Sellers £2 IBs. Perpetual Trustee.;'—Sellers 18s. D.I.C. (Pref.)-Buyers £1 Is 6cl. New Zealand Portland Cement—Sellers £1 15s 9d. WELLINGTON STOCK EXCHANGE. (Fttou Our Own Coiieespoxdext.) WELLINGTON, March 5. There w?ro no transactions on 'Change to-day, but the following sales were reported:—Talismans at £2 6s; Waihi Gold Mining at. £8 16s; Ta.irua Broken Hills at Is 7<l: I.cvlar.d-O'Bricn Timber at £1 2s 6d; Wostport Stockton Coal at 8s 9d; New Zealand Shipping at £7; Wellington Gas (£5 15s) at £12 ss. AUCKLAND RETURNS. (Pr.it United Press Association - .) AUCKLAND, March 5. During the four weeks ended February 20 the Waihi Gold Mining Company treated 31,428 lons of ore for a return valued at £73,135.

The master of the Kura dredge reports for the week ended 3rd inst.:—"Had a very broken run this week, with a lot of short stoppages. Prospeels improving; wash is very much heavier. Lost the huekeis at 2 o'clock en Saturday morning, and it ton!; us 10 hours to get tlio.n back. Width of face 80yds, depth 30ft " Mitddv Creek No. 1, Wai- |.-«;»-: 12ohrs 36 6 0 Muddy Creek No. 2, Waikaia, 13l!ir.s 8 6 0 THE ISLAND BLOCK COMPANY. TO THK I'.DITOR. Sin.-I decline to admit, that Hie correspondence columns of I he pre=s is the proper place for discussion of flio operations and management of a. mining company. The annual meeting- of the company was held a few days ago, when "Huge Blunder," if lie is a shareholder, might havo' had ample opportunity for ventilating his views. If he is not a shareholder he hiis no right to prnH'er his criticisms and advice. I assume he is a. shareholder, and that bo was at. the meeting. If that be so, tho oour.-,o he has taken is distinctly reprehensible, and may be justly characterised as cowardly. Had your correspondent's views Wn expressed at Ihe meeting— where ho would have had full opportunity of ventilating them—ho would haw found Ihe directors ready to discuss them and to state their views, although they might not have with "Hugo Blunder. Further, the directors are open to receive suggestions from any shareholder, and will give them every consideration. I may add that it is no! without consideration that your correspondent's views have not been given effect 10.- I am, etc., ' March 5. Diukctok.