MINING.

Otago Daily Times, Issue 14701, 8 December 1909, Page 6

MINING.

«> The Molyncux River was yesterday morning Bft 3in above the normal mark at Alexandra, showing a rise of Ift Win since the previous day. The weather was reported to bo line. The return from tho Paterson's Freehold No. 2 dredge last week was 13oz for 223 hours' work. The. master of the Electrio No 2 dredge wired yesterday afternoon:—" River up 2ft during the night. Now falling. Still dredging." The directors of the Otago Gold Dredging Co., in addition to declaring a dividend of Is 6d per share, payable on Friday, have placed £250 to the reserve fund, bringing the total amount at reserve up to £500. iSinci; resuming after the stoppage!for repairs, ihe Mystery Flat dredge has run very steadily. There was a considerable accumulation of silt in the paddock, but there was no change in the quality of the wash, and tin stripping was fairly heavy over tho greater part of the cut. Writing unded date sth fnst, the master of the Sailor's Bend dredge stated that the river was keeping up, and the drift was very heavy. The master of the Manuherikia drodgo had informed him, that he was only getting over half th? ground that was covered when the river was over the 7ft mark, and the reason of that, lie considered, was that when the Molyneux River receded to tha 6ft marl;, the Manuherikia. River began to scour, being backed up when tho Molyneux was high. Warm weather, hot winds, and heavy rain showers wero preventing the river from falling. In fact, he did not expect to_ see any settled weather until after the New Year. •The master of the Wa.ika.ia dredge reports that, owing to various repairs having to be carried out, such as to the buckets, etc., he did not have a satisfactory run last week, aad he expected that this week's •return would also be affected. The dredge was stall working down on the block that proved so poor, but gold was making from the east, and would eventually cut out tho barren ground. A few days more were to be put in working down the poor ground before leaving it. The Electric No. 1 dredge had a steady rim last week, and was getting more bottom across tho cut than was obtained in the previous week. Still, parte of the cut 1 were b'.ockjd with very large bouldere. _' Prospects improved on Friday, and at Jbe

close 'of the week were fair. The actual time put in was 136 hours, and flii distance worked ahead 12ft. The bottom was still a piiwc.lay formation, with the gold rough, scaly, ami line in equal proportions:

The master of the Alexandra Eureka dredge wired as follows yesterday:— "Stopped dredging; high river; prospects improving.' The secretary of the Xokomai Hydraulic Sluicing Co. reports that work has been carried on during the week with some difficulty because of the shortage of water, and at noon on Monday work had to cease. I'ho weather continues warm, the temperature ranging from 76deg to 82(1e,g. The supply of water for No. 2 is short also, the dim having run dry on Saturday, and was closed to till. A heavy thunderstorm raged all round the Nokoinai Valley, accompanied nith heavy rain, but very little wachwl Ijie watershed of No. 2 race and dam. The manager hopes to augment his supply from tlio Lion race. From No. 3 there is intimation of a break in tho Lion race, which prevented water from reaching the claim, and also hindered water from getting to No. 1 or the dam.

DUNEDIN STOCK EXCHANGE. Waihi Grand Junctions continuo to excite most attention on 'Change, and furnished the solo business effected inside tho call-room jestertlay. Values, however, displayed a rather inatked easing. Sale-—Wailii Grand Junction, 355, 3459 d, 355.

Sales Reported.—National Insurance. 27s 3d; Talisman Consolidated 43s 6d; No Town Crook 10s, 10s. The following are yesterday's latest quotations, subject to the usual brokerage:— Duepri.nt, Stocks. Alexandra Eureka—Sellers 3s. Electric—Sellers 4s. Enfcspri.-e—Buyers 3s, seller? ss. Golden Bed—Buyers 17s, sellers 18s 3d. Hartley and Riley-Jiu.vcrs 13s, eellers 15s.

Koputai—Buyers 17s, sellers 18s 3d. No Town Creek—Rovers 9s 9d. O'lrig-Buycre 2s Id. ' l'aotalus—Sellers 7s. Rising Sun—Buyers £1 365. Sailor's Bend—Buyers 4s. MiNiNu Stocks. Muddy Terrace-Buyers £1 10s, sellers £1 12s 6d. Consolidated Coldfields-Buyers 17s 6d, sellers 18s 6d. Kuranui Caledonian—Buyers Is, sellers Is 3d. May Queen—Sellers 3s.

Now Sylviu—Buyers h 9d, sellers 5s 1(1. Old Hauraki—Buyers Is 4d, sellers Is 9d. Talisman Consolidated—Buyer £2 ss, sellers £2 6s. Wailii Grand Junction-Buyeis £1 15s (50 shares), sellers £1 15s (25 shares). Waiotahi—Buyers 4s lid, sellers 5s Id, Investment Stocks. Standard Insurance—Sellers £1 15s 6d. Union S.S. Co.—Buvcrs £1 13s 3d, sellers £1 13s 9d. N.Z. Coal and Oil-Buyers 2s 2d. National Mortgage Co.—Buyers £2 18s 6(1, scllore £2 ISs 6cl. D.I.C. (ord.)--Buyere ss. Miltmrn Li mo and Cement (£l)—Buyers £1 Ps 6d. sellers £1 10s. Mosgiel Woollen Factory—Sellers £2 18s. N.Z. Drue Co. (£2)— Buyers £2 6s, sellers £2 -Is. N.Z. Paper Mills—Sellers £1 Is IOJd. AUCKLAND STOCK EXCHANGE,

(Per United Press Association.) AUCKLAND, December 7. The following: business was done at tlw afternoon call to-day:—Kuranui, 6d, 7d; Kuranui Caledonian, Is 2<l; May Queen, 2s 9d, 2s lOd; Waiotalii, ss; Consolidated GoMfields, 18s 6d; Dominion, Ijtl; Phsenix, 4d; Tairaa Golden Hills, 4s 7d, f 4s 3d; Talisman Consolidated, 465, 46s 6d; W'aihi Extended, 3s 7d; Wailii Grand Junction, 35s 9d. CROMWELL NOTBS. (From Our Own 0.-ihkrposdest.) CROMWELL, December 7. Heaiy lain at the Lakes has put the river up considerably. Consequently it will interfere with the gorge dredges. TAb Keystone boior left Bannockburn this morning;, and is now at the Five Mile, on the Clntha R-ivor They will commence right away to pv.i. several holes down on the claim that Mr Stevenson is putting the dredge on, and afterwards will bore the adjoining claim held by Kelman and party. Several pro-tats have been forwarded to Mr Fraser, member for the district, against the clause in the Mining-Amendment Act proposing to grant claims of 10 miles in length 'not. exceeding 500 acres in area. This would bo a serious matter for this district, as two parties could take up nearly all the Cli tha Kiver from where it is now pegged to Alborttowu. It is suggested that two miles in length of 200 acres in area be allowed to be granted here, and 10 miles in tho Gorge. TALISMAN CONSOLIDATED COMPANY. (Fir Uiiited Psess Association.)

AUCKLAND, December 7. During Norember the Talisman Consolidated Mina crushed and treated 3950 tons of oro for a yield of bullion valued at £18,602 3s Id. This shows a decrease of about £3 compared with the return for the previous month, when a larger tonnage (4040 tons) yielded £18,605 5s Id, so that tine average on tho present occasion is bighor. The output for November, 1908, was £23,173 lis 4d from 3604 ions. The total costs for the past month were £1 19s 4tl per ton (as against £1 19s 8d per ton for October), and were made up as follows:-Mine development, 10s lid; mining, 13s 7d; mining, 12s 3d; gtneral expenses, 2s Id. The total amount won from the mine to date is £1,196,787 14s lid. WATER-POWER REGULATIONS. FURTHER WISSTLAND PROTESTS. (Per Cxited Phess Association.) HOKITIKA, December 7. A public meeting to protest against the water-power regulations was held at Hokitika to-night. Strong resolutions were passed, condemning the. act Jin of the Mines Department in locking up the waste waters of the district against alluvial mining, on which Wcstland wns to a lar"e extent depending. One of the resolutions condemned the misstatements and abusive attitude of the Hon. It. M'Kenzie towards the public men and leading miners of the district, who for the last two years have been trying to arrange for capital to develop tho Riimi goldfields. Another resolution protested against the threat of the Minister of Mines to block the proposed gravitation scheme from the Toaroha River by interfering with flic present Mining Act. Other mcetimrs are to bt held throughout the district to further protest against-.the administration of the Mines Department.