MINING.

Otago Daily Times, Issue 14581, 21 July 1909, Page 6

MINING.

The river rose suddenly from 4ft llin to the 7ft 4in tnark at Alexandra yesterday morning. The weather was mild and overcast. A return of 80oz for 108 hours work by .the Paracalo dredge is reported by Mr . li'. W. Payne, tho secretary of the company. | Tne secretary of tho Patea'son's Ercehold Company imports a return of 20oz from the No, 2 dwdgo for 133 hours' work. ( Tire Mastei'ton dredgemastor, writing I uiidov date Jidy I'd, slates that ho had a fair run last week. There was no change , to report in the nature of the ground. , The Mininig Review umlemta.nds that ( Messrs J. S. Clemor.'s, E. M. King, and J. Barclay will bo directors of the Tasmanian , (Jopiveir Company. Mr Aug. Simson, of j Lav.neeston, has been appointed legal , manager. The Sailor's Bend 1 (kedge.mas.tc.r wired ; yesterday that he bottomed on Monday night, and found l f'.he prospects good, but ( the river went up, forcing the dredgo to . :-'top._ There is reason lo believe that tho < km is only a temporary one, as the level s of the lake has not been affected. The master of the South Waikaia dredgo f reports that lie had a very good mil Inst- : week. Tho 'bottom was of red clay, and the wash was a little hea-vier. On'Satur- i day all the lines were shifted* to enablo ' them to dredge out into t.lio flat along tho 1 bottom of the Waikaia boundary. The Mystery Flat dredge worked tho / full width of the cut last week. In tho 1 eastern section, which is about three chains ; tiho ground war, poor, and the strip- I P.ing about 14 ft deep. 'The western sec- 1 tion, of about 12 chains, was fairly good, 1 and tnere _we.TS inoicat:ons of an ini7irove- 1 ment. Tli? bottom was maiulv of red 1 clay. ' i 'ilio following weekly report has coma to \ hand nom the Waikaia dredge: — "Tli> fare : is now 80 yitrds front the top of the block. ' There i.s no marked ditTerenee to report ' m the width or character of the wash c which is fairly patchy. The last return* 1 seemed to indicate an improvement taking ' place, but at time of writing the whoh face is drifty again.'' The Secretary of tho Nokomai Ilydraul.e Sluicing Co. reports thrfc sluicing 'was resumed on the 171 h. but the wafer is slack Indira-lions are that more water will bo i available scon, as l.liere was a eood tkiw I last Saturday. The work at' No. 2 is c progressing well, as the weather is favourable for rehying the main line. Work has c been del'ived for want of lhe pipes for ibo syphon, the frost, interfering with lhe carting. The hum from No. 3 arc at work on the No. 2 race.

DUNEDIN STOCK EXCHANGE. W'dihi Grand .Junction!-; advanced fully Its yctstorttiy as compared with the closing quotations of the previous (lay. In the inoi uiii.;4 files took place o:i 'Change at £2 ?■; oti and £2 8s 4|il, and hneiness was .reported at £2 7s U.i and £2 fo. As much as £2 &.s !)d was oiEneci in the afternoon, ■but sellers would lnt go below £2 Ss end no transfers wcre",ii'l'ec.ttd. 'JaJismara continue weak, but most of tho Thaww stocks still show a hardening,tendency. May Queans were disn-csctf of at 5s 4.'.d, an-.t more were wanted at tho same price. A wie of Y.'aiol:ihis was reported at. Us. nncll they were oltered at that figure in tho afternoon. Several pu-uia of Electrics ennnged bands at ss, and hiv--ine-:s iv;m t.ian.-aeled in Golden Reds a>l 10-i (:• I. Ripe and Shines were inquired for at £1 13s, with holders asking & moie. Sal:;,: A\:;.illi Grand .lunelion, £2 8s &d, :j2 ,8s 4jd. £2 Cs 6tl: Electric, 5s (two parcels); May Queen. 5s 4£d. Sab; reporied: Waihi Grandi Junction, £2 <•<_ Stl, £2 8s; GcV.ljii fed. 10s 6d; Electric, ss; Waihi, £9 4.; 3d: Waiotahi, 2s. The following are yesterday's la.tcet quotation.;. subject to the usnp.l bvokcirago;— Dkedcixg Stocks. I'.ieek'.c-Buyers 4s sellers 5s 2d. U'!i! £> 6u. Golden lied—liuyers 10s, sellers lis 6d. •iwtley and Kil-^.y—llmvcin? £1. Iviamt Hk-ek—Sellers 2s' 6d. Lady Roxburgh (-paid)— Sellers £s 6d. Lady Roxtergih (ccirrt.rib.J.-Sc-lbra 53. Muddy Creek—Buj-ore £1 17s 6(1. No 1 ©ivn CVwk—Sellers 12's. and Sh.ine-Buycirs £1 13s, eelicts Rising Simi—Sellers £1 16s. S;ulor's Bend—SeJlers 10s. •Mining Stocks. luiranui Caledonian— Buvers & 2/J lers 2s 3d. ' ' May Queen-Buyers 5s 4id, .filers 5s ud. \Va.iiii CoosoMdaUd-Buyere 4s lOd, sel;oi'S O'l. Now Sylvia—Piiiyws 3i 2d, eelle.rs 3s Bd. liuisma.n Coasolidated-liuvers £2 15s fcfl. selJc-in £2 16s td. 'I'oirua Rioten Uil]. s —Srllc.vs ?s "d Wailri Ex-ter.dct!-Buyers 6s" 6d, Hll'ora 6s lid. }} 'i H'i K''and Juncltion-Buyers £2 8s °d r:-!i".rs t £?. 9$ 4Jd. VI 2^'M yKIIKI J " neti<in (op«on«)-Buycrs —Buvf.r?: 7s 8-1, roliovs S c . IXVESTHEX'T STOCKS. D.I C. (prof.)—Ruy-s's £1 Is frj. Jhlbnrn Jjnw auj Comcot (£])-Sc!Jer s Ale.-rjioi Woollen—Selloas £2 15s, w'ls Portland Cement—Sollere ■ T< 7'' c r.t.Kj.nr 1 Cement (new leS "i £1 Is 6d prem. and Co. (ordJ-Buycra £1 Os Shariand and Co. (prof.J-Buyes £1 Is. AUCKLAND STOCK EXCHANGE. (I'ito.u Our Own t Coiikkspoxiirxt.) Q. , r , AUCKLAND, July go. block Exchange mining falosi-Uouanza (con.), 10d; Dixon's Consolidated k 'd 1« Id; Kuranui Caledonion, ?,s 3d- Mav linoe", 5s 3d to 5s 7d to 5s 6d; New "1 Via, 3s 6(1 to 3s 8d; Old Alburnia (paid s"' I , t0 i 25 h 1(1 t0 2s 3(1 (COH.), Is 4.1 to h 7d, to b 2,-1 to Is <d; Saxon (c.\ lU'itLs to new issue). 2s 2d to 2s 3d, lo 2s 2d to ?, s 3d to is Id; Waioialii, 7s lOd [° Bs, to 7s lid to fe ; Waitansi, 4s 3<l to 4s 4d; Waichman, 2s; Rlaclavuter, 2PsConsolidated Goldiields, 20s to 20s 6(1; Progrow I<U 9d; Crown, 4d to 7s 5d to 7s 2d to 7s 3d; Dominion (con. and ox j jishM, lOd. lOJd; Golden Bell, is 1,1 | 0 ! up). 51-1 .and 6:1 (con.); Ivu-iAin, 2il and 2jii; Konmta Reefs, 7d; -\laor.dand, New Waitelwuri, 3d; n , ao Waihi, 10(1; shotover (con.), 7d Tai '" il Bro!;on Hi"*, 2s 3d, « id; 1 aim;- Golden Hills, fc;7d; Tsirua Monaicn 6 2 d, 6d; Tairua Reefs (con.), ud_ to 6 s d; Talismans, 56s 3d to 57s 3d; JVaibi, £9 6s, £9 5s 6d; Waihi Consolida.ed. 5s 2d, 5s Id; Waihi Extended, 6slOd, 6s lid; U aim Grand Junction, 48s 9d to 48s ill, lo 49=? to 49s Od to 49s 3d; Grand Junction (options), 23s 9(1, 245; Mountain king (con.), is Ed; Now Waitaia, Is. WELLINGTON STOCK EXCHANGE. 'Fjtoa Our Ow.v Coiieesfosdest.) r ,1, Wellington, j«iy 20. , Local brokers have elfeeted tho following rcravt shares sales:-Stockton, Or lahsman, £2 16s and £2. 15s 6d; Waihi', £9 2s 6d; Waiolv.hi, 7s 6d; Waihi Consol, is 1M; iSlrotoycr, 9id; Dak-yon, s<l; Rebailee, od; Wcioiahi. 7s 6d; Consol Gold, 19s 9d and £1; Waihi Extended 6s 9d; Junction, £2 Ss Id and £2 Es 3d; Waitan"i 4s 2d. ° ' DISCOVERIES AT .OREPUKI. INTENSE EXCITEiIEXT. (TF-R UIIITED PItESS AgSOCIATION.) IXVERCARGILL, Jnlv 20. Excitement is at fever heat at Orepuki, and everyone is talking black sand, platiiiinn, and gold. The correspondent of the Southland Times explains that the beginning of the excitement was tho discovery by a party of prospectors of a lode carrying platinum in great quantities, eo much so that tho smelting expert (Mr Wilde) said that if there was any; great quantity there would be a fortune in it. It is reported that he has offered a- figure for a quarter •share at. once. Tho party has applied for a 100-aere prospectinc license. Consequent on fliis iinii another party was got together, ami it found the reef or lode reported on Sunday to contain rich jjokl. This party Jias applied for a 150-acro prospecting- license, and other oarties are busy. In regard to the platinum, tile Times's correspondent was informed by a party that it ltatl found a. place where a. dray could bo backed in and filled with the same substance that is in the lodo already referred to, with just as large a show of platinum. In the words o[ the .smelting expert, Oropuki is inundated with plati-num-at lca*f it is said lo be. The correspondent is careful to warn possibly exciteabk: people about the danger ol being too precipitate, serins that as yet everything is eolourcd by I ho glamour of i he rush. On top of all the other discovo.ri;s now comes news ef the finding by an Invcrcargill syndicate of a coal seam near tho same locality containing tho best coal this side of Westnort. To-night tho correspondent advises as follows;—" This thing has fairly taken possession ol a lot of our mo.it reliable men. From a few miles across the Waiau, right up lo Blueclitfs, tho whole beac-li for eight ur 10 miles is taken up. Men were corning into Orepuki iusi week with determination ita-mped on their features, Ecttinp miners' rigjifcs. and going awav on tho long dreary ride towards Blueclitfs, riding all night- and waiiinjf i'or daylijrht to peg off some ot the liacii. Several partic.; left here on Sunday, and had to wait for daylight on Monday to oeg off claims. Some were in time, aiul some were too late. People hero are beginning to shake their heads and sav that it is too good to be true, and that t-hev don't, believe there is anything in the" whole business, ileamvhile the works are being erected and heavy machinery is being carted for them, and the manager is here, there, and everywhere, looking u t the different claims and tormation. ALEXANDRA NOTES. (Fp.om Oue Owx Cobkespoxdest.) ALEXANDRA SOUTH, July 20. Light rain has fallen during to-dav, and still continues, tho weather boing 'exceptionally mild. Tho river has risen over 2!i, and is still rising. Tho Gorge dredgfes only 6 tivt«l l.«t week, and were obliged ;o stop this morning, CROJIWELL NOTES. (Fr.ou Oun Owx CosiiEsroxDEXT.) CROMWELL, July 20. "ho woathov wa.s (Jint-o mild yrsior<[uy. viiKi with l:i;ht rain the auow lias moiiecl ! on tho high country. Consequently the ' river is inconsiderably (o-duy. mul will! iiuci'toro with the (.Jorge dredges work- ! mj. I 'llio Hartley and Kiley dredge stopped ! this morning. * (

Tho Riso and Shine No. 1 dredge is How on the rich Wash again, citcr being hampered last week bailing out tho paddock. The No. 2 dredgo is still on patchy ground. The Rising Sun dredgo will be delayed for dvor a week yet on account of a breakdown. The Luggatc Hydraulic Company closed down last week on recount of the frost, Tho wash-up has not teen anything out ot the ordinary. AUCKLAND NOTES. (FROM OUH own Cvmsmsvm.) AUCKLAND, July 20. A lodo intersected in the Grand Junction north crosscut at No. 5 level last night is thought to be the No. 1, or Martha lode, but its identity will not be certainly known till it is further developed. The careful manner in which the Talisman Consolidated is managed may bo gathered from a perusal of the balance sheet. In the annual reports just circuhited tho property account stands «t. £221,231 6? 6d. The machinery, plant, and tramways are valued at £2500. Then follows in brackets, "add further expenditure, £26.524." Of this amount £25C0 has been written off for depreciation. The buildings are put down at £116 12s. tho whole ot which has been writtn.i olf, alfo £103 Us. toial rost c( furniture and liuintrs, and £50, tho cost of horses and harness. The stores iu hand and in transit are valued at. £14,667 Is 7d, and bullion in transit (less estimated cost of realisation)., £55,259 2s Gil. .Sundry debtors appear av £403 Is 2d. 'The cash in London was £21,5*36 lis 6d, unclaimed dividends £1822 lis 3d," cash in Auckland £2779 14s lOd; total, £25.558 ISs 9(1, making the total lor the credit side £344,067 lEs 9d. ; WATER POWER REGULATIONS. DEPUTATION TO THE MINISTER. (Fbr Ukited Phess Association.) WELLINGTON, July 20. A combined deputation of members representing mining districts will wait upon tho Hon. R. Sl'lvenzie (Minister of Mines) this week to urge that the water power regulations bo amended. It is suggested by some of theso who will form the deputation that Iho chargo of £14 13s 2d per head i»r annum for water, which the Government will not pay a farthing to collect, is altogether exorbitant, especially ns many thousands of heads of water are running to waste on the West Coast. Some modifications in the restrictive nature of the regulations are also desired. The Hon. A. R. Guinness and Messrs Colvin and Seddon, M.P.'s, will represent tho West Coast at the deputation, and Mr W. 11. Herries, M.P., will speak on behalf of the northern goklfields.