MINING.

Otago Daily Times, Issue 15272, 12 October 1911, Page 9

MINING.

As the top tumbler f ,h u ft 0 f th,. ,\' rl tte wiin B, i l "' uk i' 0,1 Jlo,l(i^' liu.il wiil L\» no vsa>li-un tin- ww»i*. . I,um ""<1 LoWt-urn dredges, which aro pnyat-a coiiwrn,;, are Ix.tlt ivporkil to be getting something over exposes u , Ol - 0 especially the Ixnvbiiru dredge In liis report for last weeK 'the master of the Olrig ilewlge states that tite grouml was very inubocky. ||e ;i(i(l.-, that lt will e about ,i fortnight to get up n, t| lo corncr ol iho lailiup?. . Jne fortunes of the New Luggat.o ing CoiHpnny -,ije looking brighter than tliev have diuw tor some months back the return from the hist paddcck being verv satistattvii-y. llie Rise and Shino No. 1 dredge worked a, cut ot oasit 1n..-;! week, making Bit anead the ground, winch consisicsl ol clay, saudstone, and i«:d. \nt s from 4£ft to 4b!t ik'ep, the prospects were similar lo tlh.se of this ptv.vicms week. Another start Ims b.i'ii made wilh the salvage o|>erations at the !{)« shine JSo. i dredge. The engine for driving th ( » new pun))) u.i be in.-tilii.vl arrived i-.iriy in the iveok, iind furth-'.r dovelapiiienUs are anxiously awaited. Cp ro' Sc|lt-emi;ef cfl the low level (unnel at too t'rcniwell t.'ompanv's mine al Beniligo was in 6'lOfl. Lite mine manager tepoits tliat lllliiough the (vmntry penetrated is Jjartl. it is favourable for rt'vt (urrying, Ix-iiig permeated with i-piaru slrnigers. Writing under date Bth hist, the masier of the I'divme No. 2 dredge stales that, during last week a gond nidth of tiie cul on ill.' road side of the river was maiden ground, with a toft red reef botlom. This was showing fair prosp.-eis at tjin,,. Si iin; | i.vny be taken an indication of an ini|.riiveineiii. The iiuehiuciy wa.i riuuiiiiir well. The 90D dredge has again struck payable ground 111 the foot of the maiil-'ii ground to whicii tho drivjge was lately dropped back. The return of 4Bioz was for a lew hours over a vwok r worlc. arul us Iriir return.* were won ar the nrsirent puiul. dredio'd ahi ad ani.tln-r run of payable retnnis .wins iissurwl. Since pulling aluad the Goldcii Sun dredge has been engaged in opening out [roili tile shallow ground on th" eaM side The dredge has I'.'cn haiii[HTed by being contiued in a narrow channel, hut is now making better progro.s in extending the cut westwards. Tim return is all from tlie top layers and the pisasnects lor payable ground when tho jii.-.'.to' k ;s cp. ;icd out ar vcrv satisfartory. 1.,-ist Wi dncsday the f;:r<> al the Wai|:,ii,i claim was cut. into two unions, ai:d during the present wtok the dreiL'einaster intended to" work the pa.it the no-cut tnilincs. and next week the wc*l tide will lie oner.ilc.d ti|'.on. No change ;:i til,' filet' or imiiifliii'e pro.-pec.ls c.«;iirre(l. Im:( the driiL-..' :« r.'"v 'Jose to wher.» liener wash will come in, and the -dridgi'masler h-op-e;: to reach tile terrace lead' in al-om a (ii')iith.

During la.-1 week at llie Now Trafalgar eliunia fiui' 130Jt wide, with a. depth vangite; from 20ft to 26ft was worked tdiead 33ft, lite l-iii.om being very iisljirv and changeai.'le. Over a chain of open ground .has vet to lie brougJit into t.he faoe, a small dump of old i,-dings .at |>r(W:«t preventin« a cut riirlil ncnM-. A temporary eJianue iri may be rwpiired to pan; these 'filings. Scvoral repairs to

tlio drcdgo were cnmpteleil on frilurday. Writing under dati> Oct<itvcr 6 the supervisor of t.he Success dredge reports an improved return <>( 33<>/. fldwt for a- iimi of 123 hours oil tho terrace end of t.hc cut where tlio bottom was t.hc previous wwk. This liijtli Hurt had simply lii'cn a bend in the high bottom, <uul v.",th tin; whole of tht> deep trround was inclined to go out into the.' smith ride of t.lu- Hat. Tin; wash looked fairly goixl, imd v.'itli a siiflioiT-'iit width of < 1 r't'i) ground the supm--vi-or is sanguine of wiimiiiß pool 1 returns.

Following lire some- figures in roniuetion with the Mast ei ton dredge, which make interesting load'ng. Since operations vvere commenced in September, 1904, flic dredge has don 13,9020/. 13d\Vt 2osr of t-'old, to tin l total value of £54*611 10* 9d. 'I he amount of gold won i« rqtial to Bewt 571b . r io/. ju(iirdii[Kii- \veighis. Tli« dividends declared have amounted to £0 4s per sluire. Or a total of £31,000 returned to sliarelioldiTA Included in three liittcr amounts is a dividend of 2s per share declared yesterday, and payable forthwith. DUNfiIJIX STOCK EXCHANGE. liiLsiniss was again i|iiiet on the Diinodm Stock Exchange yesterday, j.ind fe'.v linos exhibited iuiv •"/.'•tivit.y. Talisman Consoliditlcd* were own with a Inner at. £2 10s 6d, and a seller at. £2 lis 6d, and Wailiis with (xisier than on tlio previous •lay, t*'iiiK on ofFor at. £3 9s Gd. with a seller nt £3 8s 9d, Waihi Grand Junctions weru firm and 'business win; fcjmrted it £1 15s, the njarl.-et closing with a further seller at l.hc «i.m<s figure, and « liuyer tillering SI 14s Cxi. In the investment- stock taction Union Banks were on offer at £66, Init no buyer came forward. D.I.C. ordinary hhnros were inrjiiiftti for at 5s 9(1; ami preference shares at. £1 2s 6(1, L'"t no seller <vinie forward in rit.Jior cast', A snln was n v ]Mirlr(l in Mosgiel Woollens at £3 lis, and morn were wanted at £3 Us (kl, hut were not available. Sales Heporteih Waihi Grand Junction £1 15s. Mosiiiel Woollen £3 12s. The following arc yesterday's latest quotations, subject to tiio usual brokerage DiiEDnisc, Stocks.

Ekrtric—Buyers & lOil. Hartley and Riley—Sellers 13s. I'inini Bi'irk- Si'llnrs ss, Kopniai—Sellers Us. No Town Creek—Buyers 5s 6d Mininr STOCKS Ross GoldlieMs Buyers Its 11<I. Consolidated C!old.tield c ~*Sellers l&s 6d Kuraniii Caledonian—Buyers Is. N.Z, Crown Sellers 2s lid. Mat- Queen—Buyer* 2s 2d. sellers 2s Od. New Sylvia—Kellers Is 3d. Talisman Consolidate'.! —Buyers £2 10s 6d, sellers £2 lis 6(1. Waihi—Buyer i) 3 8s 9(1. sellers £3 9s 6(1. Waihi Grand Junction—Buyers £1 14s oil. selk-rs £1 15< Waiotnhi—Buyers 5s Id. Stocks. National Bank—Sell-frs £6 2s 3d. Union Rank—Sellers £66. National Insurance—Buyers £1 1&; od-Wt\-tport Coal Co.—Sellers £1 9s. I'.S.iS. Co.—Sellers £2 Is. D.I.C. (pref.) Hiryers £1 2s 6d. D.I.C. (ord.)—liuvers 5s 9d. Millmni Lime and Cement (10s)-Sel)t>rs £1 ilosgicl Woollen I'adory-Buyers £3 lis W \-,7. Drntr C:> l£2)-Buyers £2 9s 6d Whiti'omlie and Tombs—Buyers £6 10s. AUCKLAND STOCK EXCHANGE. (l'Eit United I'ekss AasocUTios.) ACCKIiAND, October 11. The followiiip business w-tvs transacted at the 3 15 calt or the Stock Exehanpo io-(lay:-M(ian:itiiire, 7Jd. 8il; Hid Hauraki, Is 8d; t'rown, 3s; Waihi. £3 9s 3d, £3 Is 3d; Waibi t!raiid Junction, £1 14s 6d, £1 14s 9d. WKLLINC.TOX STOCK EXCIIANOE. (Per U.nitkh Phkss Association'.) WEI-LINC.TON, October 12. The following; snle< reiwrtei! on llm Stock lvvclmnse to-dnyt Miristoliitrch Gas, £9 J2s 6d; Wellinpton Gas (riirliUj. 2d; New Svlviu. Is 8d; Wnihi Grand Junction, £1 14s" Od (?,), £1 15s (2). CANTERBURY .STOCK EXCHANGE. II'KJ! UsiTril I'tIF.HS ASSfttfWTIOS.I CIIItIS'K'HUUCH. Octobr 11. A silo reported on the Stock was one of Kaiapoi V/oollcn (prof.) at £5

7s 6d. THE WAIHI FIELD (Fnoii 'Juu Uwti L'oiuiKsrusnr.NT.l WAIIU, October 11. Splendid hii.s liven mailt? with tlio cro-.-cut north fmui the Empire reef lo intersect the M.aithu nl the 1 Infill level in the Waihi mine, and the we Itoily which will he tapped oii the kittiijiiii; walls section !.lio.uld be. lit hand inside a torlnii^ht. The Grand Junction.—The work of cuttill# out the chamber at. No. 6 level in the Grand Junction mine is wtdl forward, and a start will be made with the main south' east crusM'Ut in a fcw days. The now reef met with in the shaft, where it gave satisfactory values, fluinld be picked up in a few feet of driving, and the crosscut will then tie pushed out for the Empire, which is ivaimated to bo uhoiit 70(t simth of (he shaft. Talisman Confoiidatcd.— A rumour was circulated here to-day to the clFwt, that owins to labour troubles operations at the Talisman Consolidated Company's mine (Karanpihake) had been suspended, This, however, is incorrect, as. on impiiry made by your representative. tl».' company's supi rinteiitend (Mr Staii-Helil) stated llwt owinfi to I.he recent ('.(vision of tire Miners' Cnion that, file men should work on the c-Miperatiie system from October 1. it had lKen found ucce.-.-ary lo clean up old con. tracts. The oleiininir lip. which temporarily interfered with inidiTKrnund operations, had iusi been completed, mid work in the mine h;'d Ivi.mi nariially resinned under the new sy.si/;ni. The delay «uised in mining nec«sitnled )!'•> slop|\i)re of the mill for n few days, but cnishinc will !>e resunieil nexf week, when the tonnaije of ore required to majnt'iin the usual output will bo availalilp.

OLD ALPINE MINE. CT* BOM Ol?H OWN- Cr»I!?ir^P()NDF;HT.) (iHKYMOrTIt, (ldol»H- 11. Till! Grcymoiilh syndi(\ite. which some 12 month ago purchased the Old Alpine mine and plant, has Ijeeii siKtov.sful in hicatitig what promises to bii a tood payable reef oil Ihe spinli-rute's j>ropurly alxivo No. 7 level. The rvef wliere iuet wit.li is 3ft ill width, and i.~ a nice quality of .stone, giving good values. One of tho members, who has just, returned from a visit of inspection, reports vcrv favourably. While at the mine lie iP-ido ;il[ for i'liorpptionllv pri'diilig on tho work necej.Mrv to connect up this Motion of th" mine with the battery iind gel. a trial crushing of front 50 to 100 ions put through at the oarlirat, possible moment. Development -.vork in another 1«ir( o» ttn> initio is y-irf>n?lv i(>roninii.>»»io(l hy tho ruii'K lf ro!,^ n t t nn( | u .|jj s j lo ,. f | v [ u , tutored upnn.