MINING.

Otago Daily Times, Issue 15033, 5 January 1911, Page 9

MINING.

The Rise and Shino No. 1 dredge made 4ft ahead last week on a cut 600 ft wide and from 42ft to 50ft deep. The prospects wero fair all across the cut. The Secretary of the Nokomai Hydraulic Sluicing Company reports that at No. i elevation all the plant was out of tho paddock. The tail race was opened out, and tho main lino of pipe shifted for working a new paddock. At No. 2 elevator good progress lias been made with the top blowirl>. The laying of 21 chains extension of main lino pipe at No. 3 was finished, and the water was turned in on Saturday. Tho ntw pipes aro in good order. T!io manager expects to start sinking and elevating by the end of this week. _ Owing to the holidays and a rise in the river a temporary cessation of operations on tho Morgan Diving and Suction Company's dredge has taken place, and the company has lent its plant and a couple of the divers to the Lowburn Dredging Company, 'to endeavour to salvage the machinery off their dredge, which was burnt and sank at her moorings about six weeks ago. It is expected that operations' will be resumed on the Morgan dredge in about a week or_ 10 days, at a place known as Pioneer Point, on the opposite side of the river to where dredging was originally started, and about 100 yards higher up. At this spot indications show a groat improvement. LONDON SHARE MARKET. Pi«i» Association—Uy Tolejruph—Copyright. LONDON, January 3. Waibi—Buyers, 100s; sellers, 102s 6d. Waihi Grand Junction—Buyers, 30s 7d; sellers, 31s. MOUNT MORGAN MINE. ' Pr«n Association—By Tel»i»rnph—Copyright. BRISBANE, January 4. The Mount Morgan mine reports for the half-year ended November 30 that the rovonuo is £484,754, and tho profits £76,304, whilo tho value- of stock has' increased by £57,776. A dividend of Is per share, absorbing £50 000, has been declared.