MINING.

Otago Daily Times, Issue 14916, 19 August 1910, Page 6

MINING.

The Waikaia dredge- obtained a return oi 80oz Tdv.'t for 138 hours' dredging. A return of 21 ox 15dwl was got by the Koputai dredge for 94- hours' working. 'The sscrctary of llu ilclyneux Hydraulic Company reports a return of 70oz for seven days' work.

the Mystery Flat dredge worked 131 hours for a return of I'doz sdwt.

The secretary of the Ota go Company reporls a full week's run from both dredges. Tim return from Iho Xo. 1 dredge shows a falling oil', hut this is due to the nature of the overburdon, which decs not allow of the same amount of time on tlie Lx)ttom. The No. 2 dredge is el-ill on poor ground. If it does not improve the dredge will be moved .moi'e out into the river.

The amount of gold won by the Waikaka United No. 1 dredge during tho week ended August 13 was 230z 6dwt, the number of dredging hours' being 110. During the week tho dredge worked in the two cuts next tho roadside. Some fairly nice-look-ing wash was put through, but in the cut next the road there was still a heavy overburden of stripping. The depth of this ground Tan from about 12ft to 15ft, nnd the bottom was a sandstone one. .During the week the boiler was cleaned out, and several repairs were effected during the stoppage^

The manager of the Muddy Terrace Sluicing Company (Ltd.) reports on August 13 that the water supplv at the penstock was. about 30 heads daily, and this was being/ utilised on the No. 2 elevator and terrace sluicing claim, the prospects continuing about tho same. The heavy frosts are'still holding back the water supply, and meantime an extra two men havo been put on the Dome race doing sedding work in several places where required. This work will bo completed by the time the thaw comes, when the race will deliver at tho penstock 45 heads of water, which will be siiHcioJit to_ keep all the three plants working to their fullest capacity. The No. 1 elevator has been shifted forward for the next paddoojr, and- everything is in readiness to resume operations. Tho No. 2 elevator will lie shifted about tho end,of this week, and sluicing operations will ho cci'nmeno3<l an No. 1.

Tho little Ngapara dredge is to be taken up to tho scene of tho old sunken Enterprise dredge in order to make preparations for lifting the sunken craft. The Alexandra Herald understands that a suction pump will ba used to shift the silt from inside the pontoons, and should the company be successful in lifting the dredge the' machine will bo put in repair and operations resumed on the Enterprise claim, which is now held by the Ngapara Company A dividend (the thirty-fifth) of 6s pershare has been declared by the directors of tho Muddy Creek Company. Tho dividend is payable to-day.

DUNEDIN STOCK EXCHANGE,

A moderate amount of business was effected on 'Change yesterday, and there was one sale reported, Koputais, Which wero quoted in the morning at buyers 19s 3d, sellers £1 2s, firmed in the afternoon to buyers £1 Os 6(1. sellers £1 Is 6d. A parcel of Molyneiix Hydraulics changed hands at. 4s 9d, and the market closed, with buyers at 4s 6d, without sellers. Buyers of Pactolus finned to 4s 6d, without drawing any selling offers. Rise and Shines were also without sellers, being in demand at £2 3s. _ Boss Goldiields closed firm, buyers offering 4s Bd, and sellers asking 4s lOd, and two sales took place at 4s 9d. Tho Thames division'romains very quiet. Talisman Consolidateds aro firm at buyers £2 15s, sellers £2 16s. Waihis also firmed, the closing nuctations bsing £8 2s 6d and £8 6s 6d, and a parcel was sold for forward delivery at £8 6s 6d. Waihi Grand Junctions closed at the same level as on the previous day, though they opened in the morning somewhat firmer. There was a sals at £1 IPs. In inv?stni'ent stocks New Zealand Coal and Oils remain even at buyers 4s, sellers 4s M. New Zealand Paper Mills are firm, buyers offering £l 3s, and sellers holding for £1 3s 9<l, and M'Leod's Soap aro in demand at £14 ss, without sellers. Sales-Ross Goldfields, 4s 9d, 4s 9d; Moly'naux Hydraulic, 4s 9d; Waihi Grand Junction. £1 18s (forward delivery); Waihi, £8 6s 6(1. ' , .Sale Reported-Ross Goldfields, 4s 2£d. The following are yesterday's latest quotations, subject to the usual brokerage:— Dredging Stocks. Backwater—Sellers ss. Hartley and Riley—Sellers 19s. Koputai—Buyers* £1 0s 6d, sellers £1 Is 6d. Molyneux Hydraulic—Buyers 4s 6d. Otago—Buyers lis, sellers 15s. Pactolus l —Buyars 4s 6d. Rise and Shine—Buyers' £2 3s. Sailor's Bend—Sellers Bs. Mining Stocks. Ross Goldfields—Buyers 4s Bd, sellers 4s lOd. Muddy Terrace—Buyers £1 0s 6d, sellers £1 2s 6d. ' Consolidated Goldfields—Buyors £1 0s 6d. May Queen—Sellere 4s 3d. Old Hauraki—Buyers 4s 6d, sellers 4s 9d. Watchman—Buyers 2s Id, sellers 2s 4d. Talisman Consolidated—Buyers £2 15s, sellers £2 16s. Waihi—Buyers £8 2s 6d, sellers £8 6s 6d. Waihi Extended—Sellers 3s 3d. Waihi Grand Junction—Buyers £1 17s 6d, sellers £1 18s 6d. • Investment Stocks. National Bank—Buyers £5 16s, sellers £5 18s. Standard Insurance—Buyers £1 ss. Wostport Coal Company—Sellers £6 15s. Now Zealand Coal and Oil—Buyers 4s, sellers 4s 3d. Milburn Lime and Cement (£l)—Buyers £1 17a 6d. • ; Now Zealand Paper Mills—Buyers £1 3s, seller* £1 3s 9d. Donaghy's Rope and Twine-Buyers £1 3s 9ri. M'Locd's Soap—Buyers £14 ss. AUCKLAND STOCK EXCHANGE. (Per United Press Association.) AUCKLAND, August 18. Tho following business was done at the 3.15 p.m. call to-day:—Now Zealand Insurance, £4 33.; Auckland Trams, £1 4s; Kuranui Caledonian, Is 8d; May Queen, 4s Id, 4s; Saxon, Is 7d; Ross Goldfields, 4s lOd, ss,- 5s 2d, 5s 4d. 5s 6d, 5s sd; Old Hauraki 4s 8d; Talisman Consolidated,' £2 16s: Waihi, £8 ss, £8 5s 6d. WELLINGTON STOCK EXCHANGE. (Per United Press Association-.) WELLINGTON, August 18. Tne following wore to-day' 6 mining sales: Ross Goldfiokls. 4s 4d, 4s bd, 4s 7d, 4s 9d ss; Waihi, £8 3s. The following sales wero reported: —Ross GoldfirMs, 4s 4d; Talisman, £2 15s 3d. ROSS GOLDFIELDS, PROVISION OF CAPITAL. (Fboh Oun Own Correspondent.) GREYMOUTH, August 18. A meeting of tho Ross Goldfields Company (Ltd.), was held at Ross on Monday night, when there were present 12 local shareholders, representing 2400 shares. Mr Grimmond, chairman of directors, presided, and gave those present a very lucid statement as to the position of affairs. The necessity of providing further capital was clearly set forth, and the-shareholders present readily responded to the call by carrying tho following resolution, which wis moved by Mr Pedrazzi:-" That this meeting will heartily co-operate with the other shareholders in subscribing the necessary capital required to ph?o the Ross Goldfields Company on a pioper working basis, and strongly urges on the management the necessity of providing an efficient pumping plant to be worked from the surfao3." The motion was seconded by Mr T. Ford, and carried unanimously. Messrs Dinnio (engineer) and Moyu (mine manager) jointly reported on the future development of tho compny's property. They recommended procuring a plunger pump and sinking two more shafts, or, at least, on<. more shaft, for hauling, provided tho present shaft. was properly equipped for ).iniiping purposes. It. was further suggested that tho Minister of Mines bo approached and askedfor a straightout subsidy of £500, on condition that the present shareholders subscribe a further £1500. This was considered a reasonable request.

The meeting was marked by a very hopeful spirit as to tho future, of the company. As one shareholder very tersely put it: " They were not going to allow "3dwt (livt to stop there for future generations to exploit," Another one remarked: "Ross will liutl £1000 of the new capital if required."

Tho mooting of Hokitika shareholders, convened for Tuesday _ evening, did not eventuate, only the chairman (Sir J. Griminond) and Or Teichelmann, a director, putting in mi appearance.

Mr Griinmond, accompanied by Mr W. Evendeu (Kumara) a director, Mr Dinnio (managing engineer), and the secretary (Mis Pickles) leave for Wellington, via Chrstchiirch, this evening to attend a ma-cling of shareholders of the company, which, will bo held to decide as to tin; future course of action to 1)3 taken by the company. The meeting of local shareholders has been abandoned.

ALEXANDRA NOTES. li'r.itn Our Ow:.' Cokiiespoxid.st.i

ALEXANDRA. S., August 18. After a short break in the weather frost has again set in, and indications point to a further continuation of it. The river is very low, and the gorge dredges are all hard at work. Should the river keep low for a few more weeks some excellent returns should bo forthcoming, as all the gorge dredges are on good gold. The Island Basin dredge had the misfortune to lose its coal boat owing to swampins with, throe tons of coal alongside the dredge. Another boat was procured locally, and coaling was resumed afler a short delay. • The 909 dredge (late. Fourteen-mile) is said to bo on .rich ground just now, and a good'return is expected to-day. Tho Sailor's Bend and Manuherikia dredges arc both on fairly rich ground, and the former'is Hlcely to have an excellent return this week if she keeps working. A trial run oi the suction gas plant on Fink and party's dredge was made yesterday, dredging being carried on under the new power for eight hours. Everything worked satisfactorily, and operations will bo resumed on Sunday night. In the meantime the water has been brought in along tho newly-constructed race, it being essential to have clean water for the gas plant. The Alexandra Eureka dredge will soon make another start, a tumbler having been procured locally. This is now being placed in position, and operations will bo started as soon as some necessary repairs are completed,

The Karaunui dredge is working 6tcadily, and the machinery is running we'll, as also is the pumping plant..

Tho Molyineux Hydraulic dredge is working on good ground just now, and an improved return is expected this week. Tho treatment of the overburden is a great drawback, as the dredge is work-in* a high face.