MINING.

Otago Daily Times, Issue 14577, 16 July 1909, Page 9

MINING.

Tho river was sft lin above the normal ' murk at Alexandra yesterday morning, aiter alio tiler hard li-o=t. . The Mystery ]<U (Irrxigcmastoi- has ' wa-jhed-tip alter 1311 ho;ir», for il rduili of 02oz lOdwt. . Tlio Muslerton tlredgemastsr roporta lwv- ; mg won a return ot 30oz ijdwt in lil bonis. Tho Koputai ilreilgemastcr, in reporting a return of 28oz 19dvvt for 150 hours' work, shies that tho boulders are very bad on one part of the face. A. return of 270z M wt f or 13 g Voms < j work is reponod from tne Waikaia dredge. The week's return from the South AVaikaia dredge i 3 15o?. 7dwt. \ Mr G. A. Harlow, secretary of the Good ' Chance Company, received a telegram front tho drctrgonmsici; yesterday afternoon statlntr that ho was shifting up stream, and that there will )» no wash-np this week. Tho directors' report to the churelioldcrs I of tho Mount Morgan (jold Mining Com- ! Pany (Ltd.), Queensland, for the year ended May 31, states that the total revenue for . tho year from all sources amounted to £901,838 Is. ot" which ±,477,008 It 5d is from gold won, from mundic and oxidUed ore, £598,069 3s Id from Wisfer copper. Tho total expenditure has been £673,622 4s 9d, which includes £63,224 &sd, payments made to the Queensland Government, £355,726 6s lOd for wage-, ar.d mining contracts, and £240,671 14s 6J in other expenditure particularised in the balance sheet and profit and loss account. £73,000. has been charged to plant, property, and mine development. Tho increase in value of stocks compared Willi tho snlno date last vcar is £36,017 8s lOd. During the year 402.053 tons of oro were treated, producing 5799 tons fino copper, and 13C,3420z gold. Tho profits for the year have aiuomi'.cd to £228,215 16s 3d, to which £20,000 has bsoii added by transfer of that sum irom the contingent fund. Threo dividends, each of Is per share, amounting to £150,030, have been pa-id. DUNEDIN STOCK EXCHANGE. Sales.—Waihi Grand Junction, £2 7s (threo parcels), £2 7« ljd: Hartley and JUlct, £1 6s 3d. £1 6s fed; Waiolahi, 7s 3d (threo parcels). Sales lteported.-'Wailii Grand Juiict-'on, ±12 b '!i-.1, £2 6s 6d (two paiccls) £2 7s; \Va.ilu Extended, 6s Sd; Waihi, £9 4s; Maimhe.nkia, lis 6d; Kui-anui C«kdoninn, 2ssd; \Vailii Grand Junction (six tvecksforward), £2 t's, £2 6s 3d. The following arc yesterday's latest quofahons, subject to the usual brokerage: — Urwuino Stocks. Golden lied—Buyers gs Bd. Hartley and Riley Ruvcrs £1 6s 3d, sellers fil 7s. Manuherikia—Sellers lis 6d. Muddy Ci'cek-linycis £1 18s. Sailor's Bend-Buyers 7s oil, sellers 103. iIINIKR BTOCK3. Roxburgli Amalgamated, (paid)— Buyers 6; 6d. Roxburgli Amalgamated (con.)— Buyers 6s, sellers 7s. Tasmania)) Copper—Buyers 5s Id, sellers 5s 4Jd. May Queen-Buyers ** 7d. soilers 4s lCd. Victoria—Buyers Is lid. Consolidated UoWfields—Buvera lEs 6d, sellers £1. New Saxons.—Buyers 3s ll,d. TulUmaii Caiuolidiilod—Buyers £2 14s 9d, sellers £2 155.9 d. Waihi-Sellers £9 fc. Waihi Extended—Buyers 6s 4d, eellw* 65 3d. . Waihi Grand Junction—Buytra £2 7s ijd, sellers £2 7s 3d. Waihi Grand Junction (options)— Buyers £1 Is H<l, sellers £1 k 9d. Waiolahi--Buyers 7s 3d, fellers 7s 4(1., I::vr.sT.MBXT Stocks. National Banlc-Sjllois £5 14s. National Insurance—Buyers £1 Es 6ri. Standard Insurance—Buyers £1 3s 3d, sellers £1 Zs 9il. Union S.S. Co.—Sellers £1 14s 6d. Weatport Coal Co.—Buyers £6 7s 6(1. Wcstpoil-Stoek'ton—Buyers 4s 3d, sollere 6?. Duncdiu Stock Ex. Propv.—Buyers £2 10s 6tl. D.I.C. (pref.)-Bitycrs £1 Is 6d. Milburn Lime and Cement (10s)—Sellers 13s 6(1. Mosgiol Woollen Factory—Biiycrs £2 13s, solleis £2 15s. . ' . N'.Z. Portland Cement (ii?w issue)— Buyers £1 Is, sellers £1 Is 6d (prem.). WELLINGTON STOCK EXCHANGE, (From Our Own Coßitßsroxniixr.) WKLLI.NIiTON, .Ink 15. Sharp Sales.—Wcs!, sort Stockton. 5s 9:1; Waihi Grand JuiKiiun, £2 7s; Waihi I Consols, 4s £d; Coir-olidatcd Goldtield. 10s; May Qtic:>u, 4s Gd and 4s KM; Talisman, £2 15s; AVatcimuii, 2s; Mo'.mlain ! King (con.), Is 11 Jd: Dominion (Tliarcos). I Is, Is Id, and Is I^l. STOCK EXCHANGE MTKUODS. (i'soit Ous Own ConitKsposDEST,) WELLINGTON, July 15. A covrcspondcrt writes to the Post complaining of the methods of Auckland stock-brokers who, he alleges, " bear" mining shares in order to buy in on the rise later on. One local slrarebroker who was shown a copy of the loiter, said the allegations were perfectly, correct. He added: "Anyone who knows t.hc mysteries of tho Auckland Stock Exchange knows a lot. Perhaps Wellington may get eomo o! her own back some day. Sauce for the goose is sauce for the gander, but the geese, are at this end at present." Ho noniarkoil that was mors of the business known as "stock jobbing" in Auckland- Another local sliarcbroker said that Auckland was noted ; for brokers' booms. The brokers might push a minor milling lino, for example, and Wellington might sist advice to buy, with rather .sad results. "'There is a great (leal of dabbling amou? brokers," contended this critic. He held that some of the northern operators, wete more concerned about their t'ommisi'ion than their- clients' interests. His view was that (he relations between the Wellington Stock Exchange awl the public were on a mere straight-out Irasiins? basis as a matter between broker and Hieni llian W:W the ca-:e in Auckland. ' One of the critics lvrferred to a eonirovcify of last year. A Clsristchurch journal charged the Auckland I'lxciiar.gj with an at.ieini>t to " beai-" IVlisnian's. It was ljMllrxl Ihar tlvj object was to brimr down ' tho quotation a;;<l buy at a low figure tor «ib«qu?irt unloading on the ri;o. 'The charge was indignantly repudiated bv the Auckland l«eh,i„ gC) biit tlra ChriEtelmveli paper did not seem to be convinced that its, complaint was without foundation. Referring to that incident, a local broker remarked to-day that there was a "bear" lnriuene? at work in the north, but the , Wellington holders of Talismans did not leso their courage and coiisoqwentlv tho wily keire did not got their claws on ' to any eheap scrip. NEW ALPINE MIXE. i (Fioa Ous Own Cobresposdesi.) ! n-i v u Julv 15. Ihe New Alpine mine manager reports for the week ending July 14 as follows:- 1 "W 7 ork was confined to .-.toping above No 1 14 level. In the stopo the reef remains a I good size. In No. 5 stopc the reef measure/1 i lift in width before we got on to the footwall, and in No. C stope, coming north, i we have 9ft of reef and no footwall jet! 1 In tho other slopes the roet remains "unchanged. h\ No. 6 stope, going south, the reef has not cut out yet. It is 2ft 3in in' 1

width, but opening out overhead. Both cages were overhauled, and arc now in good repair. A start was made to-day to extend tho level. Two hundred and six tons were padilockcd during the week. REPORTED NEW FIND. (Friost Qua Own Coiieesfoxdekt.) GREYMOUTH, July 15. Good gold has been struck at the head of Flowery Creek, and prospects have gone as much as Idwt lo tho dish. The ground j is situated adjacent to tho mouth of the Kelly Terrace drainage tunnel, and close to the site of -Messrs Khodda and Peebles's ! old sawmill, and it w said that there is a considerable extent of new country at the back of it. Before 6 o'clock last evening i 17 claims had been pegged out, covering '. an area of over 11 acres. Tho Kelly's Terrace drainage tunnel contractors have had a special claim pegged out for some time in close proximity to the find. Further developments will be anxiously awaited. j ROSS GOLDFIELDS PUMPING, I (Pep, United Press Association.) ! , HOKITIKA, July 15. The large for the Ross Goldlields have been swung into position for lowering into the' pump shaft, which is in gocd working order. The company's electric plant continues to run smoothly, |