MINIG.

Otago Daily Times, Issue 15183, 30 June 1911, Page 6

MINIG.

— — The JKoputai dredge obtained a return of 4/oz for ii 6 hours' work. Tiie secretary of the AlastOrton Company reports a return ot 19oz lfklwt tor 134 hours work. The secretary of the Good Chaneo Company was yesterday advised by the dredge-. master that operations had been started ! on Tuesday attornoon. In reporting a return of lOoz 15dwt for a' run oi 128 hours, the master of tho Waikaia drudge stated that he is working through deep ground. The master of the New Trafalgar dredgo telegraphed as follows yesterday" Did not wash up lust Friday; repairing screen; will wash up coming Friday as usual." Tiie Otago No. 1 dredge had a fair run last week, and on Saturday was handed over to the new ownors (Mr J. S. Thomson and party). Tho master of the No. 2 dredge, when writing, stated that there were prospects of a,n improved return for uie pitount week. The Success dredgemaster reports a fair run last week of 110 hours for a return of 18oz Bdwt. There was no change in the nature of the ground since tho previous week, except that on the end of the cut in the centre .of the flat the wash appeared somewhat freer There was an exceptionally heavy flood during tho week, which scoured away the tailings, and left very little to come and go on under the stern of the dredtro in tho shallow ground. The dredgemaster hopes to see the shallow ground deeptn, as, if it does, improved returns may be expected. Tho work of dismantling tho Advance dredgo is noaring completion, most of tho heavy machinery being now on tho bank. DUNEDIN STOCK EXCHANGE. A fair amount oi business took piace on tho Dunedin Stock lixchange yesterday, and, though mining stocks did not participate to such an extent as recently, sales tooK place 111 u nuinr.er of other lines. In tho dredging section, Electrics were fcuuMu ..v «iia iuyaiLTy lUats at Bs, without eliciting any response from sellers. Further business was reported in Rising Suns at ±2, and though Rise and Shines changed hands at £1 17s 6d tho market cioseu considerably better, with a buyer at .€■l i9.i _od rtnu ii seller at £2 Os 6d. In the mining stock division business contiiiues to jiUis in ivUy Queens at 2s 7d, the afternoon market containing a further buyer ut that price, with a seller holding out for 2s Bd. A sale was reported in tho morning in Now Sylvias at 2s lOd, but at the last c-fill-over priced in this stock showed an advance of a few pence otor recent figures—the market closing with a buyer at 3s 3d, and a. seller at Id more. Talisman Consolidateds continued even, buyers offering _ £2 9s 3d sellers asking £2 9s 6d. Waihis were on offer at £3 6s 9d, but there were 110 buyers. Waihi Grand Junctions were reported as changing liands at £1 7s 6d, and there was a further seller in tho afternoon at that figure, with a buyer at £1 7s. In tho investment stock section a large number of stocks were in firm demand with few sellers. As high as £11 18s 6d was offered for Bank of New Zealand, but this drew forth 110 seller. Union Steams were also wanted at £2 Is 3d, with 110 seller, while Now Zealand Coal and Oils were on sale at 8s 6d without result. Sale.—May Queen, 2s 7d. Sides Reported.—Now Sylvia, 2s 10d; Dunedin_ Stock Exchange Proprietary, £3 7s 6d; New Zealand Drug, £2 9s 3d; Waihi Grand Junction, £1 7s 6d; Rising Sun, £2; Westport Coal, £1 9s 3d; Rise and Shine, £1 17s 6d. V The following are yesterday's latest quotations, subject to tho usual brokerage:— Dredging /stocks Blackwater (paid)— Sellers 9s. Electric —Buyers 2s. Hartley and Riley—Sellers 16s. Mystery Flat—Buyers Bs. No Town Crook—Buyers 5s 6d, sellers 7s 6d, Rise and Shine—Buyers £1 19s 6d, sellers £2 Os 6d. Mining Stocks. Consolidated Goldfiekls—Sellers £1 Is 3d. May Queen—Buyers 2s 7d, sellers 2s Bd. New Sylvia-Buyers 3s 3d, sellers 3s 4d. Saxon—Buyers 2s Id. Talisman. Consolidated—Buyers £2 9s 3d, sellers £2 9s 6d. Waihi —Sellers £3 6s 9d. Waihi Grand Junction—Buyers £1 7s, sellers £1 7s 6d. Investment Stocks. Bank of New Zealand—Buyers £11 18s 6d. National Insurance—Buyers £1 15s 9d. New Zealand Insurance—Buyers £4 9s 6d. South British Insurance—Buyers £3 13s 6d. Standard Insurance—Buyers £1 9s 6d. Union Steam Ship Company—Buyers £2 Is 3d. Westport Ccsil Comnany—Buyers £1 9s, sellers £1 9s 6d. Westport-Stocktor—Sellers 2s lid. New Zealand Coal and Oil—Sellers 8s 6d. D.I.C. (ord.)—Buyers 5s 6d, sellers 6s. Now Zealand Drue Company (£2 — Buyers £2 9s, sellers £2 9s 6d. New Zealand Paper Mills—Sellers £1 Is 6d. Donaghy's Rone and Twino (new issue) — Buyers Is 6d, sellers 2s 9d. WELLINGTON STOCK EXCHANGE. (Per United Press Association.) WELLINGTON, Juno 29. The following business -,vas dono at tho ' 3.15 p.m. call to-day!— May Queen, 2s 7d; New Sylvia, 3s 3d, 3s 4d; Consolidated Goldfiekb, £1 Is. CANTERBURY STOCK EXCHANGE. (i'Eii IJsitn Press Aswinvrins CHRISTCHURCH. June 29. Sales reported on the Stock Exchango of Canterbury to-day wore National Bank of New Zealand, £6 2s, and River Plate Land' Company, £2 Is, GOLDEN BED COMPANY. ' Axvual Meeting. Tho annual meeting of shareholders in the Golden Bed Dredging Company, held m the Stock Exchange Halt yesterday ' afternoon, was attended bv Mr "William. Brown (chairman of directors), and nearly a dozen shareholders. In moving the adoption of the annual report and balance sheet, tho Chairman gave a brief review of several items ill the balance sheet, and the profit and loss account,, and stated that six dividends, absorbing £3820 16s, had been declared during tho 1 year A saving of some £330 had also been 1 effected in rlic expenses accounts for tho past 12 mouths. Ho tho.ll proceeded to read a report from the dredgemaster, which stated that 110 time had bce,n lost beyond a little for repairs. The dredge had worked splendidly. and was in good repair. Some three months ago a -riso of reef took place, in , the centre of the cut, and caused a reduction in the weekly returns. This rise was still present, but as soon as the dredge got clear ground an improvement would en- 1 The width of tho present faco was i 140 yards, while tiherc were 16ft of overburden. There wore also 17 chains of deep, unproved ground ahead, which lie

suggested should be tested by boring. Another letter was read from Mr R. Cockburn, local director of tho company at Roxburgh, 110 reported having visited tho claim on June 17, and stated that the wash was keeping about tho same, with a tendency to make towards the north side of the cut. Tho high reef met with in the middle ot tho cut some time ago was still present, and tits i wash _ was good from that point to tho right side. The ground was still deep beyond the reef towards tho hill, but did not carry much gold, although it paid expenses to work, and he advised keeping tho cut open'until tho ground could be proved by boring. In seconding the chairman's motion, Mr John Kingsland mado eulogistic rcfetonoa to the way in which the affairs of the company had been carried out.. He felt that the control of their business could well be left in tho hands of tho nresent management Mr F. G. Duncan was appointed director in place of Mr T. R, Fisher (who is now abroad), and Mr C. G. V. Leijon was reelected to a like position. Mr James Brown was re-elected auditor, at the same remuneration as heretofore. Mr I\ G. Duncan, who, in company with Mr Leijon, visited the dredge a-nd claim, gave a brief and comprehensive account of what they saw. He was very optimistic as regarded the future, and -tatcd that if shareholders would only have patience the result would justify their trust, and they Would be repaid for the present small returns by a substantial improvement, He added that there was three or four yea.rs' work in the present cut yet.