MINING.

Otago Daily Times, Issue 14580, 20 July 1909, Page 9

MINING.

The river was at tlio 4ft llin level at Alexandra vo.vlsr.J.-iy, ami the weath«r was mild. The mayler of (lift Blackwalor lliv-:-r dredge reports u return of 42cm 17dwt for lc6 hours' work. A return of .iOoz fov 127 hours' work is reported from the Xo Town Creek drei!g.\ Mr 11. A. Harlow, srorotiwv of ihe Sailor's Bend Company, received flie following wire fioin. Ihe company's dredgemast"!' yooterdav afternoon:— ''Dredge sta.rl.Kl midnight on Sunday; evervt.iling working well." 'I'hc Oropuki Advocate reports that the proclamation of the Ilttrikaka Stream as a sludge channel is having- a stimulating eli'eet up.m mining at I'ahia. The I'aliia Cold Mining Co. is working night and day and is said to be on w;u-:h. Mining matters at Skifiac« are quiet at present, s:<ys ihe Lake louuty Press, and the majority of tup claims have clorcd clown for the winter. Practically tin? c.nlv one being worked, as far ;h alluvial is concerned, j.> Messrs Ixiu arul puHy s. In this is a constant, wuior supply. Tho piov T l ' V ' Ijyiicl1 ' luiS 10 111011 Clll ' At tire last meeting- of the Lake County .umevs _Association, the secretary ioporto.l the rceeipt of £1(4 13s, Goveniir.ont subsidy in connection with the Prospecting Syndicate. He stated that, within tlio last 12 ii-.onths, in addition lo tW association's efor's to further t-lw industry generally aixl assist the individual miner in u{-t----requests, between JBSOO and £6GO has b?en obtained from the Government towards assisting prospecting in the district. Ivo. erring to the construtticn of the Orepuki smelling works, the Advocate says tnat the laitli ol the piomoters of the new industry which is being established in Orepuki is strongiy evidenced bv tl-.e ampb proportions of tlio strueWe at' the corner o! Dmlhn- and &iifo:<S streets. With all tlra os-tra-(c 8 -.ir.,.j of surmise properly discounted, enough renmm to aspire that, the smeller has come io stuv and will be a potent factor in ,i revived prosperity throughout tlie district. "Th, whole place s inundated with platinum" wa; the vei'(li?t o; an export after an cxhau-tivp examination. A meMing of shareholders in the (larden tcilly Quartz Jlioing Company was held (says our Greyinonth correspondent! to consider the. question, of which notice of motion had been given previously, of ihe. company going into liquidation. The shareholders present represented 5652 shares out of a total of 22,001. On the. motion being discussed and voted upon it was lost bv a very pronounced inajoritv. Tlio directors of the' Central Charlton Company have declared a dividend (the twenty-Sixth) of Is per sharp, payable today DUXEDIX STOCK EXCHANGE. Oram! ■Tuiii-tions continue to move upwards and were sold ycs:crday afternoon at £2 7s M, the mai-kct. closing with buyeivi at lid less ami rollers at ljd more. Talismans have drop,>r<l back slightly. A sale was reported at £2 Ife. and more were inquired for at £2 15 s 6:1, with sellers asking £2 17 6 . Knranui Caledonians changed hands at 2s 4d. and a geneiaJ tinning tendency was noticeable in all ihinr.es stocks. "Sales.-Wailii Oram! Junction. £2 7s 9-; l; Kur.nim Caledonian. ?s 4d. Sale Reported.—Talisman Consolidate 1, £2 1,65.

Ihe following are yesterday's latest quotations, subject to the usual brokerage: — Df.f.dcixc Stocks. Alexandra I'.ureka—Sellers 3s, Electric—Bayers ss, sellers 5s l|d. Kntorpriso—Buyers 2s 9d. tioldeii Bod—Buyers 9s &d. sellers lis 6d. Hartley and ltiley ißuvers £1 4s, sellers £1 bi bd. I.aily Roxburgh (-paid)—. Sellers 5s 61. Lady Roxburgh (lomrlbj-adlers ss. No Town Creek— 12s. Kise and Sliinc—liuyors £11 ]2s 6d. Sailor's llend—Buyers 7s, sellers ICs. Mining Stocks Uarewood-Sellers l&s. K'uranui Calalonian-Buveis 2s 3d s»ll«vs is ltd. May Queen-Buyers 5s Id, sellers 5s 4'd. New Haxon—Hiiycrs cs -1 . -ellers 3s I'd. Tahsinan Consolidated—l)uv«rs £2 15s 6i sellers SI 17s. W'«ihi Consolidated—Buyers 4s lid, ~e':L r s Waihi Kxtendi\d—Buyei-s 6s sd, sellers 7s. Waihi tira.tid .1 unc-tion—Buvers' £? 7s 7'd" sell<. : rs £2 7s 10id. ' ' r ' Waihi tlrand .Tunclion Options—Rivers £1 15,9.1, sellers £K's 6-.1. '' ' W a :oi ahi—Buyers 7s sellers 7s lid. Investment Stocks. Standard Insurance—Uujtis £l Ss, We.dnort. Coal Co.—Buyers £6 Wo-iport H.tockion -Buyers ss, sc l| m 7 S National Mortgage Co.-]3nvcrs £2 17s' sellers £2 19s fcd. WELfiIXGTOX ,STOCK IiXCEIAXOE. (Fkom OUR OWX ConiiKsi'ONDKX'i 1 .) WKLfdNtiTOX, July 19, At to-days nueting of the Stock Kxchaege re.poried sates wore:-Consolidated iiolfiiields 19> 6.1. Cvown 7s Ud, Tulisninn £2 16s, Waiolahi 7s, Waihi Consols 4s II.U 1-bmiriion ■"!}. iu,. -) L-. l<|, ()„. '^ I;in , r p sales were:—Waihi Consols Is NewSylvia 3s sd, and Dominion Is Id. LONDON' STOCK K.KC'HAXGE. l'ress Assoi'ianon—By Telegrapli— Cojiyrighl. LONDON, ,l»ly" 13. XVadii r,hares—Buyers £8 Ice 9d, sellers £9 Is 3d. Waihi tfrand Junction—Buyers 46s 3d, sellers 4Ss Dd. ' | NOTKS I'ROiI ALEXANDRA. (Fkom Oi'ii OWN Cohekswkden'T.) ALKXAXDRA, July 19. After a week's spell of hard frost a change set in yesterday, and a slight wind .sprang up last night. The weather to-day is dull and overcast, and a little rain lias fallen, but of no consequence. The river is at a favourable level, and a few* more nights' frost would see i't down to tho 4ft level, Thr; Gorge dredges have again resumed work'. Tho Good Ciiauce dredge pulled ahead a little at iho end of last week, and is now opening out iu the river. The repairs ami alterations to (he Golden Beach No. 2 dredge are progressing satisfactorily, but some time wilf elapse liefor.-! %, dredge will lxi ready to resume work. The Alexandra Lead pumping plant has ! at last been successfully raised 'after beiii" submerged in the river for a number o"' weeks, lue work was earned out under the personal direction of Mr 1\ W. Payne consulting ongiiiMr, and I understand that the plant has boon very little affected by its sinking. The incident happened at an ino[.(poi'tuuo time, and much sympathy was expressed for Mr Payne, as 'the plant, is considered an admirable scheme for lifting water, and was only iirai.tic.tllv under trial. During the time the plant 'was working it needed a number of alterations, hul owing to want of capital the company was unable to make the neeessa.ry alterations, i'lio Just week the dredge worked she obtained 40oz of gold, and the claim is considered locally to 1)0 a valuable one. It, is hoped that tbo dredge and claim will be given another trial, and thoso who have stuck manfully to the concern in its many financial,troubles deservo to be rewaixiccl for their outlay. NEW WEST COAST FIELD. CFkom Ouk Own Comespondent.) . GREYMOUTH, July 19. T /t is reported on good authority that •Mvgbsli capital has licen secured for extended mining developments at M'Lond's lemce, south of the IJikonui River. Another mining venture proposed for South Ucstlaml is a scheme to divert a portion of the Calary branch of fl» Waiho River to work tho rich deposits known to exist 111 the upper waters of tho Calarv. It is understood that the capital required for tlio undertaking, which is one of considerable cost, has been .practically .secured. Lr-ulfs die rush at Rellv's Terrace, a good deal of pegging oft" lias been goiii"on at tho high terraces at Callus-ban's! "'hero 1 ,1:: cxisfence of good gold has been known for years. The absence of wo lor hus the drawback, but wilh tho of the adoption of modem niethodi coils.douhle iiag Uikou placo there, STJPPOSKD REEF AT OREPUKI. i ' 1 ! 1C ' 9 re l n,ki correspondent of the Southniud limes, telegraphing on Saturday, reports a, find which may turn out to"'have soino importance. He says:—"Great excitement has boen caused in Orepuki by the finding of a supiiosod reef at the foot of the i.orgwncds, aboui four miles iiorlh-east til a direct line from the township. I wont out this llio ruing io have a look at it, and there is certainly a lode showing quite plainly in a face of gvauile country through which the water race has been cut. °It has been exposed for years, but die mines evidently did not know what a reef formation was. It has a straight, wall on one side with a banging wall on the western side having a slight dip to tho west. Tlk,i'o is a face of wliat looks like loose rubble sft wido and Bft high, with a. lining all round tlio walls of a puce-coloured sticky substance like putty 2in thick. All the face carries a mineral substance which the millers could not umWistand, as if wouid not amalgamate with silver. They thought, it was gold, and tco'k it to tho smelting expert here. 110 declares that it is gold! aim in some parts the prospect is very rich, lltfl expert explained to the miners that owing to the presence of certain minerals some gold wouic. not 'iiualgamate with silver. Tlio walls hf tlm lode, so far as «in be seen, run north by norlh-casl. and claims bare been pegged out. for nearly three miles, llio bush was alivo with nie.u this morning. However, i|, turns out it, will cans.'.- some much-needed prospecting on the lougivood Range on this side. The discovery, is also I,ho indirect result of the smelting,works starting," as the minors are liow taking notice of siu'f which at 0119 time they would have passed by."