MINING.

Otago Daily Times, Issue 14684, 18 November 1909, Page 9

MINING.

The Molyneux River was 6ft 10in above the normal mark at Alexandra yesterday morning. The following cablegram was received yesterday morning from the Stanley Paracale dredge, Philippine Islands:—" Washed up '70oz for nino days, October 21 to 30. Repairs have now been effected. Will commence operations to-morrow evening." The master of the Good Chance dredge reports that, as the river was going down, ho would probably drop tho dredge back when repairs were oomnleted, and bring up a cut along the bank until the river was suitable to work in the centre. Stewart's Keystone Driller completed its engagement with tho Earnscleugh Dredging Company about a fortnight ago. Altogether eleven bores were put down, resulting in an aggregate of 864 ft being bored. Some six weeks ago Messrs C. E. Storie and P. L. Gilkison left for Sydney to procure a smelter to deal with the etone from the Tarawcra Goldmining and Smelting' Co. (Ltd.), and shareholder will bo intersted to learn that a suitable machine has boon purchased, and that it will probably be shipped this week. Messrs Plumb and Co. were the makers, and the smelter is stated to be of a design thai will enable it to satisfactorily meet aJI the requirements of the company. It is expected that operations in the mine will commence early next year. Tho actual time worked by the t'nnd.v Point dredge last week was 116 hours, and tho width < f the cut four chains, the depth of gro.ind and height of face • laing the same as in the previous week. This distance worked ahead was 14ft. The dredge had a broken run during the week. The face above water-level was still very drifty and prospects were unaltered. Tho actual time worked by the Electric No. 1 dredge last week was 125 hours, the distance worked ahead 13!t, and the width of the cut 100 ft. The river where the dredgo was working was wide; Prospects on Tuesday and Wednesday were very good, but after that some very larg* boulders were met witn, these blocking part of tho cut. Tho sample of gold continued scaly and oil Saturday prospects were very fair. Tho river was most' changeable throughout the week, but as clear and oold weather had 6et in, it was expected to steady down again. Tho No. 2 dredge had a broken run, various stoppages occurring during the week. Tho river was fairly high during the greater part of the time, and a very considerable amount ol drift was running. It was not expected to bo so troublesome this week.

Tile Punt dredge had a fair run last week of 130 hours. The ground was still very patchy, and during the week some worked ground that was treated by the old Alpino dredgo was run into, This, however, is the only piece of worked ground thero is, and tho dredge, it was expected, would be clear of it at any time. Tho bottom continued hard, and tho wash and prospects wore patchy. On Friday morning it was looking better, a number of big wash stones coming up in the buckets. The dredgo worked ahead 20ft during the week on a three-chain cut, Tho depth of ground was unaltered. The dredgo was to stop for repairs on Tuesday last.

DTJNEDIN STOCK EXCHANGE. Waihi Grand Junctions opened on an improved market yesterday morning, and sales were put through at 39s 3d and 39s M, as against 36s 9d and 38s on the 1 previous day. Tho last of tho six sales j mode during the day was at 39s 3d, in- | dicating a slight easing tendency, and the ' closing quotations were—buyers 395, ecllors ' 39s 6d. Two sales in the same stock were : reported a 6 having been made at the ad- . vanced priccs of 39s 9d and 40s. Talis- ' mans were disposed to ease. Sales.—Rise and Shine, 38s; Waihi Grand Junction, 39s 3d, . 39s 6d, 39s 6d, 39s fid, 39s 6d, 39s 3d. Sales Reported.—Waihi. Grand Junction, 39s 9d, 40s; Muddy Terraoe, 22s 6a; National Bank, £5 18s 6d; Golden Bed, 1&. The following are yesterday's latest quotations, subject to the usual brokerage:— Dredging Stocks. Alexandra Eureka—Sellers 2s 9d. Electric—Buyers 3s 6d, sellers 4s. Enterprise -Buyore 36. Golden Bed—Buyers 14s td, sellers 156 3d, Koputai (c c div.)— Sellers £1 6s. No Town Creek—Buyers 8s 6d. Pactolus—Sellers 7s 3d. Rise and Shine—Buyets £1 17s 9d, setlei's £2.

Rising Sun—Buyers £1 17s. Stanley Paracale—Sellers £1- Is, Mining Stocks. Muddy Terrace-Buyers £1 Is 6d, sellers £l fo 6d. Kurunui Caledonian—Sellers Is 7d. New Sylvia—Sellers ss. Tasmanian Copper—Buyers 5s 3d, sellers 6s. Tawisman Consolidated—Buyers £2 Bs, sellers £2 9s 9d. . Waihi Extended—Buyors 4s, sellers 4s2d. Waihi Grand Junction—Buyers £1 19s, sellers £1 19s 6d. Hercule6—Buyers lis. Investment Stocks. National Insurance—Sellers £1 8s 3d, U.S.S. Co.—Sollers £1 14s. N.Z. Coal an! Oil—Buyers 2a, sellers 3s. National Mortgage Co.—Buyers £218s 6d. Milburn Lime and Cement (£l)—Buyers £1 7s 6d. Donaghy's Rom and Twine—Sellers iil 3s 6d. AUCKLAND STOCK EXCHANGE. (Pee United Pbess Association.) AUCKLAND, November 17. Tjie following business was done at the aftehoon call to-day :—May Queen, 3s lid; ; Waitangi Consolidated, 3s Id; Golden Belt: (cont.), BJ>d; Tairua Golden Hills, 5s 6d; I Tairua, Reefs (cont.), 9Jd; Waihi, £9 17s 6d; Waihi Extended, 4s 2d; Waihi Grand Junction, 39s 3d; N.Z. River' Plate, 36s 6d; Milne and Choyco (prof,), 22s 6d.

WELLINGTON STOCK EXCHANGE. (Per United Association,) W ELLINGTON, November 17, Tho following business was done to-day: —Sales: May Queen, 3s lid; Waihi Grand Junction, £1 19s, £1 19s, £1 19s; Roeq Goldfields, lis, 9s 9d. | Sales reported: Kuranui, 7d; May' Queen. 3s 10d; Waihi Grand Junction, £1 13s 9d! £1 19s; Watchman, Si. HYDRAULIC MINING INDUSTRY. GOVERNMENT UNSYMPATHETIC. (F&oir Our Own Coueespondent.) GREYMOUTH, November 17. Tho following circular marked "urgent" liag been sent to tho members of tho Toaroha syndicate:—" A steetiirg' ffl t&M for Wednesday night, 17th inet-., to con-

eider _ tbo immediate withdrawal of tho t deposit, of £500 in view of tho unsympathetic attitude of tho Government towards tho hydraulic mining industry, and tho impossible terms imposed for tho ieaso of water for working tho Rimu Goldlields." THE WAIIII MINE. Output to Date. The Waihi Gold Mining Company, during the four-weekly period ended the 30th October, as already reported, crushed and treated 35,501 tons of ore for the handsome return of £75,971. This established a fresh record, beating by £119 that- set up during the previous month, when 33,697 tons of oro yielded £75,852. As compared with tho return for tho corresponding period of last year, when > 32,067 tons realised £73.278, last month's return represents an advance of £2693. The return now recorded brings tho total value of tho bullion won from i tho mine during t.ho pre-rent year up to I £797,169, and the total vield to date up to I £8,017,404, as shown in the followingtable J° «> d 0 of "07 ... £6,290,113 In 1908 (corrected to October 31), 393,214 tons ... 930,122 £7,220,2351 Period ending— , January 23, 1909 (17 days), 22,105 | ions 55 2031 February 20, 1909, 31,428 tons 73435 March 20, 1909, 30,770 tons 73.515 April 17, 1909, 33,263 tons ... 74,554 1 May 15, 1909, 32,649 tons ... . 73,412! Juno 12, 1909, 32,065 tons 73 212! July 10, 1909, 30.561 tons . 721539 August 7, 1909, 32,303 tons ... 74 285 September 4, 1909, 33,741 tons . 75 491 October 2, 1909, 33.697 tons 75*852 October 30, 1909, 35,501 tons ... 75)971 T^l T r a !i <o ,, dat< \ £8,017,404 Total dividends, etc., declared to date £3,615,188 6s Bd. *