MINING.

Otago Daily Times, Issue 14777, 9 March 1910, Page 6

MINING.

The Moiyncux River was' 10ft sin above, the normal .mark ati Alexandra yesterday morning. The weather was fine. The master of Patersou's Freehold No. 2 dredge reports a return of 15oz for 131 hours' dredging. A dividend- (the fifteenth) of Is per share, payable on i'riday. has been declared by the directors of tiie Golden Bed Company. Tin Mystery Flat dredge had a steady i'::!i la=i Week, working- the full cut of nine chains. The wash was much the same as it had.been during the previous few weeks, and the stripping rather heavier than usual.' : The recent beneficial rains have given a new leasM of life to many sluicing claims which have been idle for somo weeks, owing to the continued dry ,weather and general scarcity of water. Although not very extensive, it is believed that present supplies will suffice tp keep.most of the claims working until the wet season sets in. The Mastcrton dredge had a broken run last vr-eck over the full' length of tho face. The dredgeinaster states that half of the new buckets have been already linked up on the chain. There is no difference in the nature of the bottom, but the clay in the second stripping is not so heavy as it was. A report just furnished by the manager of the Kurunui Caledonian mine states that Graham's leader has not yet been met with, but. according to the underlie of. it m the level below, it may be looked for at any time now. The cross leader has pinched rather small and does not look eo promising as it did, hut the stope in the leader in Kelly's cross-cut shows an Bin seam of likely-looking ore. The Secretary of the 'Nokomai Hydraulic Sluicing Company reports that very little work has been done at No. 1. .The water available in the race was required for No. 3, which had a wash up, resulting in 1126z Bdwt. At No.. 3 the plant is about to be removed from the paddock, preparatory to turning the creek before sluicing is. again commenced. There has been a wa6h up at No. 2 of 81oz ldwt. The manager of Dixon's.. Consolidated reports that 'during last week the south driv. on the hanging wall reef has been advanced another 10ft, through splendid country. At each breaking down of the quartz some very good specimens wero secured. General indications arc good, and prospects are encouraging. . The Philippines Free Press of January 22 reports that the Old Paracale dredge has been put out of commission, and was being dismantled'in. order to.put the best of the machinery on new pontoons. _ The old dredge was the first lo operate in the Philippines, and has proved a profitable investment. It has been found necessary to sheathe the new pontoons with zinc or 'copper on account of the attacks on the timber by the teredo, a very active sea worm, or grub, which is very destructive to timber exposed to sea water. It is expected that the new paracale dredge will .commence operations about the 15th inst, For many months past active prospecting lias been reported ' from Manila, and according to latest news, this has resulted in the discovery of quite a number of quartz lodes.. One rich find is reported fron l a' point some 30 miles from Paracale, where a ledge of. ore, 50ft wide, was discovered, and assayed 12 dollars gold per ton, tesides- carrying a ■•heavy -pcroentageof silver. This ledge is credited with a rich vein running through its centre, which yields 200 dollars _ per (on. The proprietors purpose carrying out 'further development work before taking steps to work it on a big scale. DUNBDIN STOCK EXCHANGE. A feature of: yesterday's business W3S the brisk demand-for Old Haurakis. There weresix sales' at 4s Id, one n! 3s;lld, another at:3s 7d, and two at 3s 6d. More wore offered' at os 7d, lvit buyers fixed their limit at 3s 6d. Talismans changed "Hands at £2 9s Bd. and Grand Junctions ioucd a buyer at Ms 3d, and two parcels

were sold 'at 35a for delivery in eight weeks. There was a reported sale, of' Rise a;id Shines at £2 ss, ami another of National Bank shares at £6 6s. There was also an outside sale of National Mortgage share* at £3. ' There was an inquiry for Auckland' Gas shares' (now issue),, but an offer of 43s 9d failed to find a 'selling quote. Sales: Old Ihuraki. 4s Id, 4s Id, 4s Id,4s, H is Id, 4s Id,' 3s 6d, Ss6d. 3s lid. 3s 7d; Talisman, £2 9s 9d;. Grand' Junction, 34s 3d.. . '.Reported soles: Rise and Shine, £2 ss; ' National Bank,' £6 6d; National Mort- • Saire,'Jß3.- .■■ '' The following- are yesterday's latest quotations, subject-to the usual: brokerage:— i)F.K[>(i).\'G Stocks. Blaekwatw—%l!ers ss. . Electric—Sellers 3s 6il. •Golden Bed-Sellers £1 2s 6d. Nelson Creek—Sellers 16s 3d. No Town Creek—Sellers 10s. Pactolus- Sellers 5s 3d.' Kiss and Shine—Buyers £2 ss. Rising Sun-Buyers £1 17s 6tl, Mining Stocks. ; Muddv Terrace—Buyers £1 4s, sellers £1 ss'. Ross Goldfields-Buyers 7s 6d, sellers 8s 6d. Consolidated Goldficlds—Buyers 19s 6d, sellers £1 Is. . Kurunui CaJcdoiiian—Sellers Is Bd. N.Z. Crown—Buyers 4s lOd, sellers 5s 3d. May Queen—Sellers 4s 6d. New Sylvia—Buyers 4s 6d. sellers 5s Id. Old Hauraki—Buyers 3s sd, sellers 3s 7d. j Tasnianian Copper—Pollers 6s Id. Talisman Consolidated—Buyers £2 9s 6d, sellers £2 10s. Waihi-Sellers £9 16s. 6d. Waihi Extended-Buyers 3s, sellers 3s 6d. Waihi Grand Junction—Buyers £1 14s, sellers £1 14s Waiotahi—Buyers 4s. Investment Stocks. National Bank—Buyers £6 6s. Bank of N.Z.-Buyers £9 10s, sellers £9 : 135. : - ; ■ ' National Insurance—Buyers £1 8s 3d,: sellers £1 9s. D.I.C. (ord;)—Buyers ss, sellers 5s 6d. •N.Z. Drug Co. (£2)-Buy'er6 £2 Ts. Millsr-Buvere.£l 2s.' ' Douaghv's Hope and Twine—Sellers ."£1 3s 6d. Auckland Gas (new issue)— Buyers £2 3s 9d. AUCKLAND STOCK EXCHANGE. • ' (Pee, United I"eess Association.) AUCKLAND, Maroh 8. The- following business was done at the afternoon call today :— Dixon's Consolidated (contrib.), 4Jd;- Kuranui Caledonian, Is Ed; New Sylvia, 4s M; Point Russell, 3id; Mount Zeehan- (paid), 4<l; Old Hauraki, 3s 10.1, 3s Cd, 3s 7d. 3s M, 3s 4d,' 3s 3d, 3s 4d; Tairua Monarch, 4d, 4jd; Talisman Consolidated, £?. 10a; Waihi Grand Junction, £1 14s 9d: Waiotahi, 4s sd;'May - Queen, 4s 4d; Waihi, £9 17s; Consolidated Goldficlds, £1 0s 6<l; Mono,vai, Is lOd. i WELLINGTON STOCK EXCHANGE. (Per United" Press Association.) WELLINGTON, March 8. - The following were Ihe sales to-day:-— Old Hauraki, 3s lid, 2s lid, is. lod,. 3s Hid, 3s lljd, 5> sd, 3s 4d; Waihi GrandJ unction,-.Si 14s 9d,-£l 14s 9d, £1 15s, £1, 14* 9d; Consolidated' Ccldfioids, £1 0s 6d. The following sales were reported:— New, Sylvia, 4s Ed, 4s-8d; Talisman Consolidated. £2 9s 6:1. £2 9b 6d; Waihi, £9 14s 6d, £9 15s, £9 .15s. . THE TALISMAN COMPANY. - (Per Unites Press Assoiu'iiis:,-.) .AUCKLAND, March 8. During Ihe month of February the Talisman Gold Mining Company crushed and treated 3630 tons of ore for a yield of bullion worth £19,192.