MINING.

Otago Daily Times, Issue 14683, 17 November 1909, Page 6

MINING.

The returns from the Pactolus Company's dredges for last >veek are as follow: — No. 1, 19oz lYdwt; No- 2, 31ox lSdwt, for 114 hours. The Molyncuy River was yesterday morn-, ing 6ft lOin above the normal mark ai Alexandra. The master A the Golden Treasure dredge reports a return of 17oz for the week. Tho MaitcrtoiT Company's dredg-snaster reports having had a good run last week! over the full length of the face. Tho ground continued to hold good, with some extra good patches. It was inclined to got deeper, the hottom varying from 15ft to 27ft. The manager of the Mount Lyell Mining and Kailway Company, in. a progress report for the fortnight ended November 3, stated tliat the smelting and converter plants at the reduction works were both in operation. During the current halt y-ear 911 tons of blister' copper had been consigned. The return from the Paterson's Freehold No. 2 dredge last week was 16oz for 132 hours' work. The contractors are now engagsd dismantling and removing the No. 1 dredge to her now claim, and it is anticipated that she will be iir operation there in about three months' time. The. \Vaikaia dredge had a fair run last week, with no improvement to record in regard lo the class cf wash. Another two weeks should we the'dredge far enough down to be able to turn clear cf the present line of poor ground. The machinery was running well. 'the secretary of the Xokomai Hydraulic Sluicing Company reports that on No. 1 dredge elevating was resumed en tho 12th inst., and good progress has been made since. Tho blowing off of top material was commenced at No. 2 on the 9th nut., and it was expected iho elevating would start on the 18th. The by-wash boxes had been removed and rc-crectcd during tho week. Blowing- off the top material had also been going on at No. 3. The stuff had to to blown off twice, so thai the progress made was slow. It was quicker, however, to Mow off twice than to olevate. In conneotioir with the report that samples of oro from tho chum of Messrs Fiddcs and liaueke in the Wilberforce Yallov had yielded £4 19.5 <!d per ton, a Press Association message states this ivas an error for £44 19s 4d. Our Greymouth correspondent advises that at the end of last week the water in tho Ross GoMfioMs mino was reduced to about 290 ft on the sixth level. TJirfortunatcly a block of silt and timber was discovered there, which it will take- some days to remove. Mr Heed, the mine manager, however, is grappling with tho difficulty, and as soon as he is-ah'e to make tho necessary alterations in the suction gear ho expects to overcome the block speedily. The machinery continues to work effectively. DUNEDIN STOCK FX'XHANGE. >ri?' Jl6 wno '° ot " >' e6 tcr(la.y's activity oir Change, amounting to eight sales, was with one- exception, centred round Waihi brand Junctions. The markrf in this stock opened with a still further weakening in evidence as compared' with the previous tla.y, and the lowest ebb in the matter of values for some considerable time was reached, when sales wero put through at £1 16s 9d. There was, however, a fairly rc ( pid' recovery thereafter, and at the concluding sitting of the day there was a nrcnounccd hardening noticeable, when four parcels chained hands at £1 IBs. The causes which have contributed to the gradual decline in Waihi Grand Junctions have bean unhesitatingly set down as being nolhitrg more than market operations. There has been no depreciation of actual nrmcrtv values:' The extensive forward delivery operations that had been .taking place have had the effect of dragging th; marekt down, for not only are locally made forward delivcrv sale* I hat were, as is invariably the case, made at too high a price to he met bv tho kind of persons who indulge in this" form ot business, now falling duo-and have heen for a little time nast,-but belated Jjondon deliveries are- also coming to hand, tho result bemg that parcels that wore bought at what was then a high price arc thrust, or? .the market, to to sold again owing to clients not being prepared to meet the demands made upon them. bales.-Oclden Bed, 15s; Waihi Grand Junction. £1 16s 9d. £1 16, 9d, £1 15s 9d, £1 18s, £1 ip s , £1 18s> £1 IPs _ {sales Rrported.-Waihi Gran<l Junction. £1 lis bd, £1 17s 6d; Kising Sun. £1 17s 6d. The following are vesierdav's latest quotations, subject to tho usual brokerage :- Dredging Stocks. Alexandra Eureka-Buyers Is 9d, sellers 2s sd. Blackwater (cont.)-Buyers 3s lOd, sellers H 9d. Electric—Buvers 3s 6d, sellers 4s 3d Colden Bed-Buyers 14s Gd, seJle.rs.lss 9d. Hartley and Riley-Buyers 15s 6d, sellers 1/s 3d. Maniiherikia-Biiyers 9s, sellers 9s 9d. Muddy Creek—.Sellers £3 12s 6d. New Trafalgar-Buyers 10s, sellers 19s 6d £o Town Creek-Buyers 6s 6d, fellers 18s. 1 actolus—Buyers 6s. sellers 7s. Rise and Shine-Buvcrs £1 17s 6d. Rising Sun—Buyers £1 17s. Sailor's Band-Buyers 4s 6d. Stanley Paracale-Scllcra £1. Mining Stocks. Roxburgh Amalgamated (cont.)—Sellers Roxburgi'i Amalgamated (paid)-Sel!or3 6.« Ex). Ross Goldfc'ids-Sellere 12s 6d. Blackwater Mmes-Sellers £1 +S 6d, Barewood-Sellers lbs,'

[ Consolidated GoMficlds - Buvcis 15s, sellers 16s 9d. Progress Mines of New Zealand—Buyers lis 6d. Kuranui Caledonian—Buyers Is 3d, sellers Is 7d. New Zealand Crown-Sclkrs 6s 2d. May Queen-Buyers Js lid. sellers 4s 2d. New Sylvia—liuyors 4s 9d, sellers 5s 2d. AVaitangi-Sellcrs os lOd. Ta",ni3.nian Copper—Buvcrs 5s 3d. Talioinan Consolitlotc-d-Buycrs £2 9s, sellers £2 10s 6d. Tairua Broken Hills-Buyers Is Id, tollers Is Zd. Waihi Extended-Buyers Is, sellers 4s 3d. Wailu Grand .lunelion—Bnvers £1 17s Sd. fellers £1 18s 3d. Pride of Waihi—Buyers sd. ISVESTMBXT STOCKS. National Bauk-SsHcrs £5 19s 6i j Bank of Nov.- Zealand-Buyers £9 10s. National liisurar.ee—Sellers £1 8s 9d Standard Insurance—Buyers £1 2s" fid. Dunedin Stock Exchanso Pronv.—Buyers £2 14s. D.I.C. (pief.J-Buyers £1 is 9d. D.I.C. (ord.)-Buyers 5s v Milbuvn Lime ind Cement (£l)—Buyers £1 7s 6d. • 'I New Zealand 'Drug Co. (£2)-Buv'ers £2 7-s. sellers £2 7s 3d. j Donaghy's Rope and Twine—Buyers £1 Is Oil. sellers £1 3s 6d. J AUCKLAND STOCK EXCHANGE. (Pfr United Press Association.) AUCKLAND, "November 16. 'The following business was done nt the afternoon call to-day :—Dixon's ConsolidiUvj (roivt.). 9Jtl: May Queen. 3s 9<; apd 3s 10(1: New Sylvia, 4s lid: Waiotahi, 4s 9d and 4s 10d.; Kaponga, 6d; Royal Oak (eont.l, Is sd: Golden Bell (jiaid)', Is 2d and Is Id; Golden Roll (cont.), 8tl; Maoriland, Sdj Tairua Golden Hills, 5s 6(1 ■ Talisman Coro=o!«l.-.t«l. £2 10s; AVaihi, £9 18s; Waihi Beach, 7d; Waihi Extended, Is, 4s id. and 4s 2d; Waihi Grand Junction £1 19s 2d. £l 18s 6d. £1 18s 9d, £1 19s, and £1 19s 6d. WELLINGTON STOCK EXCHANGE. - (Per United -Pbess Association.) WELLINGTON, November 16. The following sales were recorded on the Stock Exchange to-dav:—May Queen 4s; Tairua Broken Hills," Is 3d; Waihi Grand Junction, £1 I7s (four paresis), £1 17s 6d, £1 17s, £1 17s 3d, £1 17s 6d, £1 17s 9d, and £l 13s (Iwo parcels); Waitaugi Consolidated, 3s 7d; Progress, 12s lid; Ross GoldfieJds, lis, lis 3d, aaid lis. A Press Association telegram from Ration reports the following returns: -WoVkfop, 41021 2dwt, for 170 hours; Pactolus No .1 19oz 17divt, Pactolus No. 2 31oz 15dwl, for 114 hours. The Pactolu* No 1 dredge has been closed down.