MINING.

Otago Daily Times, Issue 14924, 29 August 1910, Page 6

MINING.

■■ Tho New Trafalgar return of 250z 4dwt for 131 hours' dredging was won from tho creek section. The Muddy Creek dredge, which obtained 15oz lfldwt for 114 horns' wotk, had a short week's dredging on account of .a small breakdown. In a. telegram received from tho mai'tor of tho Sailor's Bend dredgo on Saturday, night it was stated that the dredge had not yet been able to bottom. TJio dredgemaster is about to pull the dredge a little higher up the river. DREDGING "RETURNS. Oz. dwt. gr. 909 dredge, Cromwell, 2 days 63 0 0 Mauuhonkia, Alexandra, ' HOhrs ...: 51 0 0 Olago No. 2, Island' Block, ' week 49 0 0 Golden Bed, Miller's Flat, 1301irs ' .„ 16 10 0 Rise and Shine No. 2, Clutha River, 139hrs ... 44 14 0 Electric No. 2, Cromwell, 128 hours 40 15 0 Good Clianoe, Alexandra, week ... ... 38 11 0 Waikaih, Waikaia; 1341ns ... 35 16 0 Mystery Flat, Waikaia, 134hrs 35 1 0 ltiso and Shine No. 1, Clutha Kivcr, 13Dhrs ' 44 14 0 Molyneux Hydraulic, Alexandra, 7 days 32 6 0 Sandy Point, Alexandra, 90hrs ... 31 19 0 Masterton, Waikaia, 134hrs 31 13 18 Karaumii, Alexandra, 120hrs 30 17 0 Chicago, Alexandra, ■ 119hr5.... 30 0 0 Ivoputai, Waikaia, 132hrs ... 28 5 0 Waikaka United No: '1, Wailuilm,. 131hrs ... 27 14 0 Electric No. 1, Cromwell, 124hrs ' y ... 24 5 0 Waikaka Unite<l No. 2, Wai- • kaba, 13Qhrs ... ' '24 3 0 Otugo No. 1, Miller's Flat, wk 20 0 0 Central Charlton, nr Gore, Gore, 129hrs 16 17 0 Muddy Creek, Waikaia, 114hrs 15 14 0 Lady Roxburgh, Roxburgh, week ... 13 6.0 Golden Treasure, Miller's ■ Flat, week ... 12 10 0 Olfig, Manuherikia, week ... 8 2 0 Total 785 19 18 The West Coast. Worksop, I2lhra 55 17 0 New Trafalgar, 131hrs 25 4 0 Total ... 81 10 DUNEDIN STOCK EXCHANGE. A fair amount of business was transacted on 'Change on Saturday, Waihis and Waihi Grand. Junctions continuing to claim most attention. Otagov ex. dividend, -.were wanted at 13s, .'without'sellers., Ross Goldfields, which closed on Friday at buyers'2s' 7d and sellers 2s lOd, opened weak with buyers 2s and sellers 2s 4id, but firmed at tho noon call-over to buyers & 6d and nollers 2s Bd, with a sale at the latter figure. Buyers of Consolidated Goldfields eased siiglitly, offering 19s 6d. May Queens were linn at buyers 3s lid and sellers 4s Id; and Old Haiirr.kis were even. There was a pal.! reported in May Queens at ,3s lljd. Talisman Consolidateds, ox rights, wore wanted at £2 9s 6d, without sellers. Wailiis, which closed 011 the previous dav at buyers £7 Cd and sellers £7 10s. opened at £7 lis 6d and £7 12s 6d respectively, and there wore two sales at £7 12s 6d. At the noon call over, however, quotations had reosded to £7 8s and £7 6d respectively, and two parcels clanged hands-one at £7 lfts and one at £7 9s 6d. Waihi Grand Junctions opened firm in tho morning, and hardened still more at the noon call-over, when two sales took place at,£l 16s 3d,,tho market closing at buyers £1 16s and sellers £1 16s 6d. In investment stocks Perpetual Trustees were wanted at £1 0s 6d, without sellers. ' Buyers of Milbnrn Limes were olloring £1 18s, and £3 4s was offered for Mosgiel Woollens, but in oaeh ease .without selling offers. Sales.—Ross Goldfields, 2s 8d; Waihi, £7 12s 6d, £7,12s 6d, £7 10s, £7 9s 6(1; Waihi Grand Junction, £1 16s 3d, '£1 16s 3d. Sales Reported.—Morning: May Queon, 3s llid; Ross Goldfields, 2s 6(1, & 3d; Pactolus, ss. The following aro Saturday's latest quotations, subject to the usual brokerage:— Drudging Stocks. Blaekwatei—Buyers 35, sellers ss. Golden Bed—Sellers £1 Is. Hartley and Riley—Sellers 18s. Koputai—Sellers £1. Is 6d. Manuherikia—Sellers 12s. Otago (ox div.)- Buyers 13s. Mining Stocks. Ross Goitlfields—Buyers 2s 6d, sellers 2s Ed. Muddy Torraeo—Sellers £1 Is 6d. Consolidated Goldfields—Buyers 19s 6d. Kuru'nui Caledonian—Buyers Is 6d. May Queon-Buyers 3s lid, sellers 4s Id. Old I-Itturaki—Buyers 4s 6d, sellers 4s 9d. Watchman- Buyers 2s Id sellers 2s 'Id. Talisman Consolidated (ex rights)— Buyers £2 Ss 6d. Wiiilii—Buyers £7 Bs, sellers £7 9s 6d. Waihi Consolidated—Buvors 5s Id, sellers 5s fed. Waihi Extended—Sellers 3s. Waihi Grand Junction—Buyers £1 16s, sellers £1 16s 6(1. Investment Stocks. National Bank—Sellers £5 18s. National Insurance—Buyers £1 lis. Westport Stockton—Buyers 6s. New Zealand Coal and Oil—Sellers 6s. Perpetual Trustees Co.—Buyers £10s 6d. Milbum Limo and Cement (£l)—Buyers £1 18& Jlo6giel Woollen Factory—Buyers £3 4s. WELLINGTON STOCK EXCHANGE. (Per UtUTi'U I'ress Associatioh.l WELLINGTON, August 28. The following were Satunday'e mining sales:-Waihi, £7 7s, £7 7s 3d, £7 9s; Now Sylvia, 3s lOd; Ross Goldfields, 2s 8d; Waihi. Grand Junction, £1 165,3 d. Tho following sales were reported:—Talisman (emu div), £2 15s 3d; Ross Goldfields, 2s 7d, 2s 6d, 2s 3d, 2s 2d, 26 Id. KEEP-IT-DARK MINE.' (Fnost Oun Own CoßimsroxDENT.) GREY-MOUTH, August 28. Tho ICeep-it-Dark mine struck stone in No. 7 lovel yesterday, but tho quality is not known at present. The stone was readied sooner than anticipated. .This find will greatly enhance tho value of tho mine, in which snares are steadily hardening. THE WAIHI MINE. HIGH VALUES ON EDWARD REEF. (Fr.ou Ouj: Ows Cop.nEsroxDEXT.) WAIHI, August 27. The crosscut being extended through the Edward reef at tho ICOOft. level to determi no tho width and values of the lode is nowponetrating sulphide ore of high grade. After passing through the first 10ft on the hanging wall side, which consisted of quarts and mullock intermixed, : the crosscut entered a moro defined body carrying-average pay dirt for four or fivo feet, and tho next round of holes fired diselcsed ore wcnli several pounds per ton. This high-grade material is_ in evidence in tho present face., and accoKiitig to the position of the winzes put down on the reef from the level al>ove— No. 8 plan lovel-it mav reasonably bo expeeted that from wall to wall the* Edward

Ireat lwi.ll pronw from 50ft to 60fl, uide at this particular point. A report was recently circulated that at a corresponding point overhead the. reef was about 7Sft wido and worth an average of £10 per ton over the whole width. This is rather misleading, and it may be mentioned that the l<xlo will have to bo driven upon for some distance before the drivo comes under th-i point where tho largo dimensions and lii»h values wcro Jiict with overhead. ]t, can, of oourss, only be determined by further development work whether the same results will be met -with in the low level, but it will ■ be .gratifying to shareholders meanwhilo to find that tho values arc showing a marked improvement in tho present crosscut. WAIHI SHARES. THE FALL IN PRICE, P.TCS3 Association—By Telegraph—Copyright LONDON, August 26. Tho Daily 'Mail attributes the fall in Waihi shares to the persistant and unexplained selling orders received from Now Zealand. These transactions are making English holders nervous. LATEST QUOTATIONS. LONDON, August 28. . (Received August 29, at 0.2S a.m.) Wailu shaves are quoted as 1 follows:— Buyers £7 lis 3d, sellers £7 13s 9d. Waihi Grand Junction: Buyers £116s 3d, sellers £1 18s 9d. (Peb United Pkss Assoeiwiofi.l AUCKLAND, August 27. Sbveral members of the Auckland Stock Exchange wore consulted regarding tho cable messa.gei from London about Waihi shares. Ono xemaTked: "That it quite different from the impression I had. My idea, was that the first selling started from London." (i Another member of tho Exchange said: " I understand that shares were sent Home, and if such were the caso it is only reasonable that it should cattso a feeling of uneasiness amongst outside shareholders. They naturally would' think that Auckland shareholders would be in clcsoi touch .with the jinino and would have some reason for sending shares Horn© to soil at lower nitvs. Some timo ago, however, when there wcro rumours of a oreep in the mine, you will remember that it was the Tondcn sh.-irc-brokors who sold heaviiv on this market and brought the prices down." ARROW DISTRICT NOTES. P. Moran, _ assists! by a weekly subsidy from the Mines Department, continues to prospect his claim at Stewart's Greek, new Moonlight.—Messrs M'Mnllan and sons are still opening out in the slip below Arthur's j'oint. Tho ground is rough on the surface, and the drainage from the river and old tail iracps is. very heavy. The riven- : s regulated by wing-dams, but is very troublesome to control.'—My J. Corbctt is at present sluicing in Johnston's old claim and diEcharpin-f. Ir? tailings into Pleasant C'reei:. Work will resumed, in the other claim .when tin* .frost gets out of'the ground.— Messrs Davis, on Stony Creek, are von . sluicing in. their claim, and have a lar»e amount of material to shift before bottom is reached —It is gratifying to state that • Msssre Bros., known as tli-o Arthurs Point G.M. Company, hnvc eonipleted their tunnel, and have the river pretty well turned in now. They aro completing the dam to turn the river. If "lav safely b 3 assumed that tlra tunnel will now carry a wry big river, and it must now be hoped that the plucky partv will succesd in proving the claim a payable one.—Lake County Press CANTERBURY STOCK EXCHANGE. (Pbr United Puess Association.) CHRISTOHURCH, August 27. On th® Canterbury Stock Exchange to-day tho rales reported wore:—Christchurcfi Meat (£10), £14-; Christehnrch Meat (£5), £6 12s 6d; Farmers Co-operative. £2 10s; WaiKi Grand Junction, £1 15s 9d.