MINING.

Otago Daily Times, Issue 15196, 15 July 1911, Page 12

MINING.

In telegraphing a return of 117oz sdwt the master of the 909 dredgo states that prospects are fair. .After placing the now pinion in position the 1911 dredge resumed operations last Sunday night. When the mishap occurred tho dredgo had struck solid, hard wash, so when the cut is opened out somo good returns may be forthcoming. The Sailor's Bend dredge washed up yesterday for a return of 330z 6dwt for the week. _ Tho dredgemaster reports that the drift is very heavy and tho ground deep. Shareholders in tho ICoputai will receive ® lst ) P er sliciro on July 19. Warrants will lie posted. DREDGING RETURNS. Oz. dwt, gr. 909 dredge, Cromwell 117 5 0 Electric No. 1, Cromwell, lOlhrs 74 3 o Good Chance, Alexandra, Y 147hrs. 49 6 0 Karaunui, Alexandra, 131hrs 46 11 0 Ivoputai, Waikaia, 159hrs ... 41 12 0 Electric No. 2, Cromwell, 102hrs 26 11 0 Waikaia, Waikaia, 134hrs ... 19 7 0 Central Charltop, near Gore, IMh" 18 10 0 Hartley and Riley, Cromwell, 200hrs 17 0 0 Manuhcrikia, Manuhcrikia, week ...■ 16 o 0 Masterto.i, Waikaia, 119hrs 12 7 0 Mystery Flat, Waikaia, 126hrs 8 6 0 The West Coast. Success, 115hrs 21 17 0 DONEDIN STOCK EXCHANGE. Tho past week has not been a particularly brisk one on the Dunodin Stock Exchange, only a moderate amount of business taking place in tho mining and investment divisions, while the dredging stock market has been fairly dull. Blackwaters have been on offer throughout the week at 10s, but this price has failed to attract a buyer. Golden Beds have been firm and in persistent demand at lis 6d, and latterly at 12s, a sale taking place on Thursday at 12s 6d and the market closing yesterday with a buyer at 12s and no seller. Mystery Flats have shown some easement from their recent firmness, but m'o still fairly hard, with a seller at 8s 6di ! and no buyer, while No Town Creeks have been in demand throughout tho week at 5s 6d, without a seller. Rieo and Shines have been on offer at £l 18s on several occasions, and a seller came on tho market yesterday at £1 16s, while Rising Suns , have been wanted at £2, without result. In tho mining division Consolidated Goldfields have cased-slightly, and were on offer yesterday at 19s 9d, with a buyer at 19s, whilo Kwanui Goldfields havo been quoted in the neighbourhood of Is 3d (buyer) and Is 5d (seller). Saxons were in demand in tho early part of the week at 2s 4d without sellers, but a f-alo was reported yesterday at 2s sd, and tho market closed with a further buyer at that prioe, but no seller. Business was reported in May Queans at 2s 7d during the woek, and prices have ranged generally in the vicinity of 2s 5d and 2s 7d, buyer and seller respectively. New Sylvias have been fairly firm all tho week, and have seen a good deal of business, prices ranging mostly- in the vicinity of 3 S 9d and 3s lOd. Waitangis have firmed several penoo during the week, business taking place on Monday at 2s lid, but hardening to 3s 2d yesterday. Tho closing market prices in this lino were buyers ss, and sellers 3s 2d. Talisman Consolidates have shown a slight improvement, but otherwise they havo been fairly quiet. Yesterday's prices of £2 10b 3d (buyer) and £2 lis 3d (seller) pretty accurately represent re-! 1 cent rates. _ Tairua Mines havo attracted some attention, and havo balanced a little. A sale was reported in t.hem last. Saturday at 2s 2d, but business took place through the week at 2s 6d and 2s 7jd, while the market closed yesterday with a buyer at 2s 4£d and a seller at 2s sd. Waihis ;have eased off somewhat, and liavo not attracted much attention. A rale was reported at £3 3s 6d on Wednesday, and the latest quotations wero £3 4s (buvers) and £3 5s 6d (sellers). Waihi Grand Junctions have remained firm, and have been the medium of a good deal of business, at prices ranging from £1 7s up to £1 8s 3d _ for forward delivery. Yesterday's closing prices of £1 7s s<l (buyers) and £1 7s 9d (sellers) wero about even with recent, rates. In the investment division National Banks have remained fairly firm, and havo changed hands at £6 Is 6d, and £6 Is 9d. A large number of other Jincft, especially of insurance stocks, havo been in fairly steady demand, wit.h few sellers. Union Steams have been nuoted at £2 Is 6d and £2 2s, buyer and seller, and Westnort Coals havo been on offer several time's at £1 9s 9d, with no better buyer than one, at £1 9s 3d. National Mortgages have b?en wanted at £3 7s 6d, but no seller has como forward. New Zealand Paper Mills were sold early in the week at £2 9s 3d, and more shares have Ix't'n wanted at that price, but without result, Mosaic! Woollens havo seen business at £3 lis, and yesterday's market closed with a buyer at £3 lte 6d, but no sclLors. Seve.rai sales have been reported in Now Zealand Paper Mills at £1 Is and £1 Is 6d, tho market closing even yesterdav with buyers at £1 Is 3d, and sellers at £1 Is sd. Sales.—Wait.an.si. 3s 2d; Waihi Grand Junction, £1 8s 3d (eight weeks), £1 7s 9d (ei?ht weeks). Sales Reported.—Union Steam Ship Company, £2 Is 8d; Saxon, 2s sd; New Sylvia, 3s lOd; Waihi Grand Junction, £1 7s 9d. The following are yesterday's latest quotations, subject to tho usual brokerage: — IIREDniNO r-'TOCK.' Blackwator (paid)— Sellers 10s. Golden Bed—Buyers 12s. Hartley and Riley—Sellers 16s. Island Block—Sellers ss. Mystery Flat—Sellers 8s 6d. No Town Creek—Buyers 5s Cxi. Rise and Shine—Buyers £1 16s, sellers £l 18s. Rising Sun—Buyers £2. Mining Stocks. Blackwator Mines—Sellers £1 10s. Consolidated Goldliclds—Buyers 18s, sellers 19s 9d. Kurumii Caledonian—Buyers Is 3d, sellers Is sd. Saxon—Buyers 2s sd. May Qiieen—-Sellers 2s 6d. New Sylvia—Buyers 3s sellers 3s lOitl. Old Hauraki—Buyers 2s. fellers 2s 3d. Waitangi—Buyers 3?, 'sellers 3s 2d. Talisman Consolidated—Buyers £2 10s 6cl, sellers £2 lis 3d. Tairua Mines—Buyers 2s 4Jd, sellers 2s sd. Waihi—Buyers £3 4s, sellers £3 5s 6d. V.'aihi Grand Junction—Buyers £1 7s sd, sellers £1 7s fld. Investment Stocks. Standard Insurance —Buyers £1 9s 9d. Union Ste»am Shin Company—Buyers £2 Is 6d, sellers £2 2s. Westport Coal Conipairv—Sellers £1 9s 9d. National Mortgage Company—Buyers £3 7s 6d. Perpetual Trustcos Company—Buyers £1 ; 2s. (

D.I.C. (ordinary)— Buyers Ss 9d. Mosgiel Woollen Factory—Buyers £3 10s 6d._ Now Zealand Dru-' Company (£2)— Buyers £2 9s 3d. New Zealand Paper Mills—Buvors £1 Is i. 2d, sellers £1 Is stl. _ _ Donaghy's Rone and Twine (now issue)— Buyers Is 9d, sellei-s 2s 6d. ' a LONDON STOCK EXCHANGE. tr Press Association—By Telegraph—Copyright, a LONDON, July'l3. Wajhj—Buyers £3 2s 6d, Fellers £3 ss. } T] Waihi Grand Junction—Buyers £1 6s 10(1, (j. sellers £1 Bs. Talisman—Buyers £2 8s 9d, sellers £2 lis. n . M. £ AUCKLAND STOCK EXCHANGE. (Pjcb Usitjed I'riEas Association) f n AUCKLAND, July 14. w Tlio following business was done at tho iv 3.15 call to-day:—Saxon, 2s 7(1,* 2s 8(1, 2s bi 7d; Consolidated Goldfields, 19s 9d; Waihi tl Extended, Is 7d; Waiotahi, 3s; Ross Gold- m fields, Is lid; Tainia Mines, 2s 3d; Wailii Grand Junction, £1 7s 9d. A WELLINGTON STOCK EXCHANGE, tl lP»fl United Pnnss Association.) oi . WELLINGTON, July 14. The following sales were made on thq Excltange to-day :—Wellington Meat Export (£2 12s 6d), £3 ss; Union Steam, £2 Is 9d; u Consolidated GoldJields, 19s 6d, 19s Bd, 19s 9(1, 19s 9d; Saxon, 2s 6R 2s 7d, 2s7d, 2s 7<l; Waihi Grand Junction £1 7s 9d, £1 7s 9d; Ross Goldfields, 2s. ol BLACIvWATER RIVER COMPANY. Annual Meeting. [ c The eleventh annual general meeting of 3 shareholders in the Blackwater River Gold Dredging Company was held yesterday al afternoon. Mr 13. A. Tapper (chairman of JK directors) presided, and there were about J l . 10 shareholders present-. tf The adoption of tho annual report and a ! balance sheet was moved by tho chairman, n who, in doing so, briefly reviewed tlio posi- f c tion of the company. Ho said that some of those present would doubtless remember '111I 11 that at tho last annual meeting ho had r< strongly advised shareholders not to f>art 01 with their shares unless nt a good price, s< i as he then considered that prospects were V 1 Rood, and better times in store generally. J v Theso anticipations had been realised. At ' c that date tho shares were quoted at 4s 3d } v sellers and 3s 9d buyers, and were actually hs sold as low at 3s 6d. Sinco then the com- tj 1 pany had paid dividends to the amount of tl 5s per share, with a prospect of being ablo to pay another Is dividend shortly, with others to follow. . The present quotation for tho shares was 9s (sellers), and lie did not consider this a high price. 110 stated b< that tho dredgo was in very fair working ra order considering its asr, end they had a to new string of buckets, some of which were in on the dredge. Tho claim was some dis- ki tyneo from wing worked out, and, from a til visit paid to the claim during tho year, he sa was of opinion that tho present ground \v would last) for about two years yet. Tlicy CJ had a reserve fund of £750, £650 in cash, w . a blacksmith's shop, stores, and other avail- jj, able assets worth about £300, while their (j liabilities amount to between £300 and p ( £400. Tho cost of working the dredgo had been about the same as last year—namely, 01 18Joz per week. They had paid a China- j.j man £50 for some ground, and this, though it had not proved very satisfactory, had, ho ] a thought, on tho whole, about paid expenses. a j The chairman concluded a hopeful and optimistic speech with these words: "I cc think we can say we arc in a very fair position, and I hope tho present bright aspect will long continue." Tho Chairman's motion was seconded by „ Mr G. Ross, and carried unanimously. In reply to a question, tho Chairman . stated that the dredgemaster lvad kept very „ good time during the year, the weekly runs S averaging somo 113 hours. f' Tlio retiring directors (Messrs Thomas Jones and C. G. V. Leijon) were re elected, as also was the auditor (Mr G. M. Mac- H lean) at the usual fee. ' . . ill ■ ======= Ol