MINING.

Otago Daily Times, Issue 15383, 21 February 1912, Page 7

MINING.

~* Tho Mystery Flat dredgo has oea-scd work n owing to Iho IxHtom taring risen abovo water lovol and carrying no wash. The 5. chairman of tho company will visit iho claim to-d&y, and on his return the directors will (fccido upon the oourso to lw pursued. \jtol wedt's return by tho Ksrinmnf drodgo wits for 125 hours' work. There was no change in tho prospers, and tho depth of the water remained tho same as when last reported. Tho repairs to Ow - main bucket* aro proceeding satisfactorily. Tho lost return from lie Waikaia dredge was obtained from the west section, which showed some signs of improvement. This P. section is now, noarly far enough ahead to turn cost. On Saturday morning tho top sween |iatJ) broke in two places, and gener&l repairs were commenced. Tho master of the (!ood Chanco drcdijo Tcports that nlthongii tlio river is fairly low it will require to go down to tKo 4ft 6in lovol before successful operations oan bo eorrorrcnoed. Tho woatlwr «i present, is "• most obangeaMe, «wl there was a. rito in " tbo liver during laet wools. Tho secretary of tho Nokotnai Hydraulic Sluicing Company roporli that No. 1 waaned up oa Saturday (or a return of 4Wor. lOdwt. M Tho washvtip fiom No, 2 on Thursday was t0 211oz 14dwt. At No. 2 the stone waJI is ■built, tho well liolo sunk, and tho olovator in, and it is expected that c start to iv blow off the top stuff will Vto mado as aoon as the pump is shifted. There have been occasional showers, but not enough to inurwew the water Ripply. No. 3 mado a start " lo olovato on Saturday. 'flie dircctora met yesterday and declared a dividend of Is per share, payablo*on Tuesday, 27th ) inst., and also added £200 to tho reserve fund, which now stands at £1200. IJUNEDIN STOCK EXCHANGE. Rather more activity tlmn usual nu evinced on 'Change ycrtorday, and a fair number of sales were recorded. A parcel of Waitaugis changed hands at 2s Id, and in tiie afternoon tho.ro was n. bujer at 2< and a seller at 2s 3d. Waihis showed a firming tendency, an after a sale had token place at £2 4s fxl there was a buyer at £2 3s 9d, but no seller. Waihi Grind June- , tions were also firm, and wcro in demand At £18$. with a seller at £l 8s fid. In the investment stock section transactions were reported in Now Zealand Portland Cements at £1 10a 6d. and in Now Zealand Drugs at £2 IDs 9d, while a »alc in Dnnedin Stock Exchange Proprietary thir« _ took place on 'Change at £3 16s 6d. A 33 salo wm reported in D.I.C. (pref.) al £1 3i • 3d, and the market ckwed witii a further ti buyer at £1 3s, _ but no seller. Business h also took place in National Bwlra At £a

15s, and though more were in demand »t only 6d leas no further bdlcr cam© forward Sales :-Wailangi 2s Id, Waihi £2 4a 6d. Dunodin Stock Kxchtngo Proprietory £3 « 16s 6d. 1 Satos roportod:-D.I.C. (prof.) £1 h 3d, ' New Zealand Portland Comont, £1 10s 6d. ] National Bank £5 15s, Now Zealand Drug \ £2 10a 9d. i Tho fottowing aro yestorda-7's laieat quotations, subject to tho uioal brokerage:— DMTDOIHO cVIOCIB. Blaekwatcr—Buyers 7s. Electric—Buyers 3s 9d, sellers 4a fxl. Paclolus-Buycrs 2s 6a. . I Sailor's Bond—Buyers 4s, sellers 5s 6d. 1 MWWO STOCKS. ] Muddy Tonaoe—Bnyora 15s, sellers 16s 6d. ( Consolidated GoJdfralds—Sollen 16s. ■ ( Old llauraki-Soilcrs Is 7d. May Queen-Sellers Is 7d. New Sylvia—Sellers la 7d. N»rw Zealand Crown—Sellere 3« rjd. Woilangi~Buycr3 to, wllom 2s 3d. Talisman Consolidated-Buyers £2 12s 3d. ■ Wnihi—Buyers £2 3s 9d. Waihi Grand Junction—Buyers £1 Bs. Boilers £1 8s Od. IsvßSTMnrr Stocks. Natiatal Bank—Buyers £5 14s 6d. National Insurance—Sellers £1 18s 6d, Standard Insurance—Buyers £1 lis, sellers £1 lis 6d. U.B.S. Co.-Buyerß £1 IBs 3d. Westport Coal Co.-Bnycrs £1 7s, sellers £1 7s 6d. National Mortgage—Buyers £3 133. Trustees Executors Co.—Sellers £3 3s. Emph-o Buildings—Sfcllcn £1 4s 6d. D.LC. (prei.)-Buy«ra £1 3s. Milbum Limo and Cement (£l)—Sellers £1 19s 6d. N.Z. Paper Mills-Buyers £1 Is. Oamaru Woollen Co.—Buyers £1 7s. WAIKAKA ITNITKD COMPANY. In their 13th annual report tho directors of tlso Waikaks, UniUd Company slate that during tho year Iho two dredgw have obtained gold to tho valuo of £6655 lis lid, and tho total cost of obtaining sam*. ineluding prospecting and rood making,) amounts to £4923 4s lOd, leaving a surplus to profit of £1732 7s Id. Thjs profit has been put to tho building of No. 3 dredge. No. 3 dredfc*.—Your directors fully oxpedod too havo Had this mochino running aomo months ago, but owing to strikes at Home- preventing delivery of tho material required for its construction, the- completion has been considorablv delayed. Tho dredge is now almost > completod, and is capected to start operations in about two wooks' time. Tho machine will bo able to dredgo to a depth of 55 feet, and should treat a much larger quwitity of tho gnivola than No. 1 and No. 2. Considerable expenw has been incurred in making deviations in tho main roads lo crafclc tho No. 1 dredgo to wdk an area of ground recently reourtd by tho oompony, and the returns from this area aro proving fisti»f»ctory. Tho directors regret to repsrt tho drolh of Mr Robert l/ce, ono of your directors, wbr*e assistanceand connsol it all times wero of much value to the board. «id hVi death leaves a vaeancv on the rmrd whinh will be h«rd lo fill. Tho retiring director in Mr Robe/; PitTsoti. who is eb'tiKU anrl offers h'Jisolf for re-olection. Mr Gen, Blyfh. vour auditor, also retires and seeks re-election. AUCKLAND STOCK EXCHANGE (Pi» tlnnrn i'»ra Asrociatio^.) AUCKLAND, February 20. The following business was done at the 3.15 i>.m call to-day:—May Queen, Is sd; Waiotahi. ,V 4d; Watchman, Is' lOd; Crown, 3s 7d; Golden Cws, sd; Waihi, £2 4s 6d. £2 4s 9d; Waihi Grand Junction, £1 8.« 9J, £1 9s. IjONDON SHARE MARKET. Press Association—By Telegraph—Copyright LONDON, Februaiy 19. Waihi—Buyers £2 Is 3d, sollors £2 3s od. - Waihi Grand Junction—Buyers £1 6s 6d, sollors £1 7s 6d,

Wellington stock: exchange {Piß UNniU PIBM ABBOCH7IOM.) WELLINGTON, February 20. The following salo was cftoctod on tho Stock Eichacgo to-day:—National Bank, £5 15s. Sale* wero reported u follow:—National Bunk, £5 15a: W<mgorC Coal, £1 7s 6d; WaiUnjri, 2»; Waihi (hand Junction, £1 3s 3d ,