MINING.

Otago Daily Times, Issue 15396, 7 March 1912, Page 9

MINING.

it i* o\jhv:t>! thai tuw>sir\ rtp,nir> to ' Iho hlivtrip No. 2 drodi-M nml tlio i\>nlraoi ' i in ropirtl to the framiui: will U> coniplotod' | • - I ' l ' oivr.urtviKKod on Monday !ir\l. j ( lit Itis last lOivrt the master of lit-' j, Olrip dredge suited that the Iwkod ' ] hot tor ill the middle of the w,v-k. w hou ;i i j pond lot df stone* were showini:. but it i ( i;ot t'mer iipm. ' ' | The mn.'tor of tho Ri-v and Shine tiredjo I 1 rrp'rts that some ipiol wash stones were " mot with during tl>o week, jiui; there ! was h i appiwiahle improvement in the i i quality oi tho srtvund. j Duriiv; t-ii<> Jwoek the Kleetrie No. I ' 1 worked 91 hours for n di.-);uwe l f ahead of Dft. Nearly tho whole width ' 1 of tho cut lias Iwn opened, vntji tho ex-1 coition of a small pan on tho Cromwell * sido. Tho ground in tho dwpest part''

is 43ft. -with numerous largo Ixmhtors and a hard wash. Tho prosixxits wore only fair, lmt. the Ixst gold wis from Uie Bannockburn side. The bottom ixjii Msti'd of a lough pi|x! clay formation, and it wa.i a difficult matter to keep tho cut open on account of tho very larj.'e Ixxtldivs. The Gold Star Sluicing Comjiany ha: gone into liquidation, Irat a new compam will shortly lx> formed, when the ward for l.lie precious nx'lol will l:« pro?will ix more vigoiously thiin ercr. Work :n niwt of tiie mining claims it tlx> Skipjwrs district is (stall's the Wakatipi Mail) being stoadily narricd on. In severa holdings tho operations mo dead in theii Ml lire in that. ulteratioiiA or extension ir pjpn lilies or in some cases strip ping is hoing carried out. The Skip pers Sluic-ing ('ompany liail a very satis factory wash-up i<>centK', and at present work is Ixring vigorously_ pur»i:c<l with .1 view to a washing up before winter. Al IXivis's (.Stony Crook) sluicing is the ordei of the day in view of a good roittrn before (■he winter sots in. The inside section of tho face was dredged at the New Trafalgar (Ja'tii again last week, ajid when brought forwa.nl in line with the terrace motion the width of thin iwrt of the faco was found to lie 60yds, Iho general depth under water was 29fl with 1111 overburden of 12ft in tho midcorner, gradually to 2ft in Iho op|«site side. The face was worked forward 2011. Iho bottom [or the most part lx>ing sandstone. I'h-is secticn of the cut is an old river Ixxl, and at limes rough, scvrrnl broken pins resulting. The sample of gold won _ was tiie best seen for somn montlis. Tho same section is being worked durinj tlu; current week. l'lio niiuter o[ tin. Success dredge reports that last week's return was won from I hi shallow ground on the north side o( (he glitter, 01:0 shift only being worked in lilt- deep ground. That tlio shallow ground was worthless was proved bv UlO small ariK>unt, of gold won from it. Ho lias decided io drop this ground luid o)«'n out as far as imssililn on tho south side, which was drop. Tho rcacon for working on the shallow ground last week was t hat tho ladder rqxi |wrted, and after bring spliced it wtis not long enough to Iwt.lom the deep ground. Tho now ladder is to hand, and tho current wook will Ixj s|K>nt on tlio deep ground to the south of the mam gutter A- ; mroting of |Im shareholders in the No 'lown Crei'k Gold Dredging (Company was held yesler-.lay aflcriiMii, Dr Martin presiding, for tho pur|x>se of confirming a resolution that the coin[>aiiy lx> wound up voluntarily. Tlui oonlirmation wu« "joved by Die Chairman, seconded by Mill. Adam, and carried without dissent. Mr Daniel Anderson wiw ap;K>ini«l li()iiidator ut a reiniineration of 30 guineas. A volo of thanks to the directors for their past .'ervices m~ls cariivl iiiianimoiuly. It. was stated that shareholders would have to depend upon the salo of the dredge for anything further 11, was resolved that tli o house on tho property lie linndcil to tho dredgoiiMi-sloi'. Mr A. Cowan, as a gift, A vote of thanks to the secretary (Mr Jno. Davie), concluded tlio meeting. The master of tho Ladv Roxburgh dredge rejiorls for week ending 2nd inst.: —On lup-sajiy Ave broke through a crust of Maoris and sionrs, disclosing alxmt. oft of wash, (wvinjf a fo»r cokxirs of gold. We worked .all round this po-i-J-KIII for two days, hut could get no deeper. The dredgo was then ret. ahead in search of softer ground, with no result. It. was decided to Kiiitiniic tho trial until midnight 011 Saurday, and if no chiingo took pliio:* the dredge was to be moved to M.ilone's Beach. Tlio top tumbler slwfi, broke on Saturday, and we aro now tailing off tho broken tumbler and replacing it with tho ono purchased at the salo of tho Gold King dredge. DUNEDIN STOCK EXCHANGE. A slight improvement, not .sufficient to bo termed a lecovery, took piaro in Wailiis on yt-stmlay, and iifu-r a sale lnjd been re|iortc<l at. £1 19s 6d the market cl<xji»n with a further buyer ut IJi.n pneo, and a iHler at. £2 0s 6d.' In confluence of a re|K)r t of a very satisfactory return Jmvuitf 'Ix-rn from Uie" WaihJ Grand .lunclion mine, tliis stock exhibited a hardening tendency, and though a sale was re)X)rteil during the day al £l 7 S Bd, the' liiiirket. closed lirtu, with a lmyer at £1 Ps Id mid a seller at £1 8s '9(1. talisman Consolidated* were again alxiut even, and siiw further business at £2 10s 6d In the investment stock section a parcel o! union Steams changed hands at £2 0s 6d. Sale Talisman Consolidated, £2 10s 6(1. 5.1..0S reported:—Waihi tirand .Junction £1 7s 9.1, Waihi £1 19s 6d. Kcep-It-Dark £1 If, Ijtuon Sleani JC2 0s 6d Tim-following are yesterday' latost quolations, subject to tho usual brokerage:— Dredoino Stocks. Blackw,-iter—Buyers 7s. Hartley and Riiev—Buyera 7s, sellers 11«. 1-ady Roxburgh-Sailers Is 6d. .Mamiherikia—Hellers 7s 6d. Mixiso Stocks. Nokomai llyvmuilic-Buyers 16s 6d sellers £1. Consolidated Goldfields—Sellers 15s 9d. Kuraimi Caltxlonian—Sellers Is 6(1. Old IFaurJiJii—Sellers Is 4d. May Queen-Sellers Is 7d. N»w Sylvia—Sellors Is 4d. N.Z. Crown—Sellers 3s 7d. Talisuian Consolidated—Buyers £2 10s 3d, sellers £2 10s 3d. Waild-Buyers £l IDs 6d. sellers £2 0s 6d. Waihi Grand .Ittnelion-Buyers £1 8s Id sellers £1 & 9d. iKVRnum Stocks. National Bank—Buyers £5 ]5s 3d.' NatioiKil £1 18s 9d. Standiu'd liiMinuKX—Sellers £1 10s 6d. N./. Shipjiiiii; Company—Sellers £15. Co.—Buyers £2 0s 3d, sellers £2 West 110rt. Coal Co.~Sellers £l 7s 6d. Aiicklind Gas-Sellers £3 8s 6d. A./. Loan and Meivantile—Sellers 17s 9d. Otago Daily Tiinw-St<lleis £2 12s. | AUCKLAND STOCK EXCHANGE. |P*B UNITEO PRKSS Assochtios.l AUCKLAND, March 6. The following business was done al the 3-15 lun, call today :—l T mon lianl;, £c-5 New Zvaland Insurmuo, £4 14s 6d. WELLINGTON STOCK EXCHANGE. (I'tn U.Nirtii Pit ess Association.) WELLINGTON, March 6. On the Stock Exchange to day it salo . f Ross shares wxis re|wrte<l at 4Jtl. MT. MORGAN RETURNS. Press Aeaociation—By Telegraph-Copyright BRISBANE, -March 6. During Febniary Iho Mount Morgan Gold Reduction Works treated 5254 tons of ore, which produced 365:17. of gold. Tile copper reduction works treated 17.784 tons for 512 tons of blister eopner, containing 507 tons of copper and 73200r. of gold"] The yield was adcelod by the strike of a sjviioii of men who are controlled from Hrisbano. causing a temporary shuttingl down of the works. VICTORIAN GOLD YJELD. PrcM Asaocietion—By Tclegrsph-Copyrigbt MELBOURNE, Mm-h 6. (Received March 6, at 9,50 p.m.) Victoria's gold yield last year was 542,047 ounces gioss- a deert-ase of 67.951 ounces as ] compaml with the previous year. I