MINING

Otago Daily Times, Issue 14685, 19 November 1909, Page 6

MINING

The Molyncux River was 6ft lOiii above [he normal mark at Alexandra yesterday corning. \Tho weaither continued fine. The master of the Kormtai dredge reports laving washed up for 78oz lAdwt for 139

hours' work. The secretary of the Mastodon Company reports a return of 7Eoz lOdwt for 134 hours' work. The roturn from the Waikaia dredgo for the past week is Boz lOdvrt for 139 hours' work. The secretary of the South Waikaia Company reports a return of 7oz 13dwt for five days' work. Tho ground worked j>y tho dredgo last week was much about tho tame as in the previous week. The facewas 60 yards wide, and the depth of ground varied from 24ft to 26ft,. with a maori bottom. The dredgo was slopped one day this week in order to put in some bottom tumbler blocks.

The Rise and Shine No. 1 dredge worked 4ft.ahead last week. The cut was 520 ft wide, and from 42ft to 48ft deep, with from 3ft to 4-ft of overburden, and bottom of clay and coal. The No. 2 dredge worked a cut'of similar width, making 8f ahead. The depth varied from 33ft to 4ui'r, and more clay bottom, with about 3ft of very light wash, carrying a fair prospect, had come in.

DUNEDIN STOCK EXCHANGE. ■Waihi Grand Junctions continue to excite the bulk of attention from buyers and selters. Yesterday nine parcels changed hands at the three call-overs, and in addition there were four reported sales. There was a slight ca€ing tendency at the close of the day, but on tho whole values were fairly well maintained. Sales.—Golden Bed, 14s 9<l, 15s; Waihi Grand .Junction, £1 19s (five (parcels), £1 19s 6d (three parcels), £2 Is (forward delivery). Sales Reported.—Waihi Grand Junction, £1 19s 3d, £1 19s 6d, £1 18s 3d (six weeks forward delivery), £2 Is; Perpetual Trustees (cx-div.) 17s 6d. The following are yesterday's latest quotations, subject to the usual brokerage ;— Dredging Stocks. Alexandra Eureka—Sellers 2s 9d. Blackwater—Buyere 3s 6d. sellers ss. Electric—Buyers 3s 6d, sellers 4s 6d. Enterprise—Buyers 3s, sellers 4s. Golden Bed—Buyers 14s 9d, sellers 15s. Hartley and Riley—Buyers 15s, sellers 17s

Manuhcrikiia—Buyers 9s, scllors 10s. ' No Town Creek—Buyers 7s 6d. Pactolus—Sellers 7s 6d. ' Rise and Shine—Buyers £1 18s. . : Rising Sun—Buyers £1 17s. I Stanley Pa racale—Sellers £1 Is. Mining Stocks. Muddy Terrace-Buyers £1 2s, sellers £1 3s. ( Blackwator Mines—Sellers £1 4s 9d. Ross Uoldfields—Buvcrs 7s 6d. sellers 10s 3d. Consolidated Goldfields—Buyers 15s, sellers 16s 3d. Progress M-ines of.New Zealand—Buyers lis. Kuranui Caledoirian—Buyers Is 3d, sellers Is 6d. May Queen—Buyers 3s 9d, sellers 4s 2d. New Sylvia—Buyers 4s 9d, sellers ss. Waitangi—Sellers 3s 9d. Tasmaniiui Copper—Buyers 5s 3d, sellers 5s 9d. Talisman Consolidated—Buyers £2 8s 3d, sellers £2 9s 6d. Waihi-Scllora £10. Waihi Extended-Buyers 4s, sellers 4s 3d. Waihi Grand Junction—Buyers £1 18s 9d, sellers £1 19s 2d. Investment Stocks. National Bank—Sellers £5 19s. National Insurance—Sellers £1 8s 6d. Standard Insurance—Burets £1 3s. Union Steam Shin Co.—Buyers £1 12s 9(1, sellers £1 14s. National Mortgage Co.—Buyers £2 18s sd, sellers £3. Perpetual Trustees Co.-Buyws 17s M. D.I.C. (pref.)-Burors £1 Is 9d. D.I.C. (ord.)-BuTcrs ss. Milbu.ni Lime a.nd Cement (£l)—Buyers £1 7s 6d. New Zealand Pai*r Mills-Buyers £1 Is 9d, sellers £1 2s 6tf. Donaghy's Ropo and Twine—Buyers £1 Is 6d, sellers £1 3s 6d. AUCKLAND STOCK EXCHANGE. (Per United Press Association.) AUCKLAND, November 18. Tho following business was <lone at tho afternoon call to-day-.-Dixon's Consolidated (con.), 3d; May Queen, 4e Id;. New Sylvia, ss; Victoria, Is 2d; Waiotahi, 4s ]0d; New Alpine, 3s 6d, 3s 3d; Glamorgan. 5Jd; Kerikeri. Id; Komata Reefs, sd; Tairua Broken Hills, Is 4d; Waihi Extended, 4s 2d; Waihi Grand Junction, £1 19s 9d; New Zealand and River Plate, 36s Od; Northern Steam (pa;d), 12s. NEW ALPINE MINE. (From Our Own Corrkspondest.) GREYMOUTH, November 18. The mine manager of the New Alpine mine reports as follows:—"No. 14 level was extended a further distance north ot 19ft (making a total north of 335 ft) in a straight, lino from last week's bearing. In tho early part of tho week there were boulders continually being met ivith, and very hard drilling. Yesterday a good, well-defined log of stone came in, 3ft in width. It is very well mineralised, and shows a fow fine colours of gold. Samj.lcs taken show values to bo increasing, and 1 think it will prove to be a payable block later on. It has every appearance of proving permanent. Tho drive had to be timbered right up to the face through tho ground proving to be very treacherous. Al! the payablo stone above No. 13 has been mined, and timbering is being completed hero to-day. In tho stone on No. 2 block (the block that came in at 205 ft in north cross-cut No. 14), tho reef ranges from Ift 6iil to 4ft in width, and assays prove valuos to lw very irregular, but it should prove payable. A new drill arrived yesterday for this stope, and the drills arc being fitted to same. Fifty tons \vcro sent to tho battery, and another 30 more are in. the mine paddock."