MINING.

Otago Daily Times, Issue 15707, 8 March 1913, Page 12

MINING.

Tho secretary of tho Karaunui Company reports a return of 390z 9d\vt for 10 days' dredging. The secretary of the Koputai Gold Dredging Company reports a return of 3oz 16dwt for 137 hours' work.

A return of 230z 13dwt for four day's work is reportod from tho Success dredge. The Electric No.- 1 dredge washed up yesterday for a return of 16oz 12dwt for a week's work.

If the river is favourable the Electric No. 2 dredge will resume operations on Monday, 10th inst. The return from tho Talisman Company' 6 mine for February is as follows Crushed 3800 tons, value £19,289 2s 2d. Tho costs amounted to £2 Is 10d, made up as follows;— Mine development, lis; mining, Us lOd; milling, 13s lOd; getloral, 2s 2d. The following cablegram was sent to London:—"No. 14 level, south rise, progress 38ft, assays low. No. 4 crosscut, progress 67ft." .

An Auckland Press Association messago states that the following cablegram has been despatched by the management of the Waihi Gold .Mining Company to the London office:—'"No. 9 level, Royal.lode at 94ft in south crosscut drive to west 20ft; value per ton. 30s: width of lode about lft; driving His been suspended. No. 10 level has been inspected, and is in good order throughout. No. 2 shaft, sinking has boon resumed."

An application has been rcceivcd by the clerk of the Warden's Court from Henry Joseph Boardman, of Dunedin, minor, for a prospecting warrant in respect of portion of section 8, block V, Mount Hyde, on tho west bank of the Taicri River, covering an area of 40 acres.

A Press Association telegram from Auckland states that tho balance sheet of, tho Waihi Paeroa Gold Extraction Company shows a net profit on last year's working of'£B6Bl. DUNEDIN STOCK EXCHANGE. Business on the Dunedin Sitock Exohange has been fairly quiet during the pa6t week. Investment stocks have been the medium for a fairly large number of sales, but tho mining and dredging divisions have remained dull Jind inactive, and very few sales have been recorded or reported. Thero J6 a prospect, however, of tho dredging market brightening in the near future. The Molyneux llivcr has fallen considerably during tho past week, and it is probable that a number of the gorge dredges will resume operations for the season during the next week or two if the river continues to fall. Rise and Shines, which were on offer at the beginning of the week at £1 lis showed a decline each day, and closed yesterday at £1 9s. Buyers were not quoted. Parcels changed hands at £1 8s 6d and £1 Bs. Rising Suns have been for sale at £1 10s, Mastortons at 7s, and Manuherikias at 7s, without buyers. Blackwaters wero quoted on several occasion at 4s and 5s 9d, buyer and 6cller respectively, but tho margin was apparently too great to allow of any business being transacted, Thero lias been no demand for. Electrics. Sellers of this line have been' recorded at from 5s 6d to 6s. Olrigs were wanted at Is, and Golden Bods at 7s,

Mining shares were for tho most part in poor demand during the past week. The small amount of business transacted in this division of the market was confined to tho larger Auckland _ lines. Thero was only a dull and inconsistent demand for tho small northern quartz mining companies' shares, and no sales wore transacted, Talisman Consolidateds, which opened on Monday with'' buyers at £1 17s, have cased somewhat during tho week, and closed yesterday at £1 16s 3d, with sellers at £1 17s. A parcol changed hands on Tuesday at £1 17s. Waihis havo also eased slightly. A small amount of business was effected at £1 12s 3d, the market closing yesterday at £1 lis 9d (buyer) and £1 123 6d (seller). Waihi Grand Junctions have shown a tendency to weaken. At tho beginning of tho week £1 Is was offered, with sellers asking 9d more. Yesterday's quotations wero £1 0s 7d (buyer) and £1 Is 6d (seller).

In the investment stock section Union Steams have continued to be the medium for a fairly large amount of business. This line was in demand on Monday at £2 9s 3d, with sellers at £2 Sa 6d. Parcels changed hands during the week nt £2 9s 6d, £2 9s, and £2 8s 6d; and sales were reported at £2 8s 6d, £2 83 9d, and £2 9s. The market closed yesterday at £2 8s 6d and £2 9s 3d, buyer and seller respectively, A sale was reported yesterday at £2 9s 3d. Ac tho beginning of tho week the directors of tho Milburn Lime and Cement Company stated that they proposed to call tip 10s per share 011 tho second issue of shares, so as to make all the shares in tho company fully paid up. In consequence tho 10s shares hardened

considerably. They were on offer on Monday at £1 13a and sales wero effected at this figure, and at £1 12s 9d. There woro sellers yesterday at £1 10s without buyers. A sale of tho larger issue was re-' ported at £1 19s Gd. Insurance companies' rhares continued in firm demand throughout tho week, but there was little response from sellers. Business was reported on Thursday in National Insurances at -£2 5s 9d, Bon!; of New Zealands have been inquired for on several occasions at £11 ss. There wero no sellers until yesterday, when £11 8s was quoted. Business was reported on Thursday at £11 6s. New Zealand Paper Mills were offered at from £1 (Tuesday) to 19s 3d (yesterday). A sale' was effected on Wednesday at tho latter figure. Sales; —Rise and Shine, £1 8s 6d, £1 Bs. Sales reported :—Union Steam, £2 9s 3d; Milburn Lime and Cement, £l 19s 6d. _ The following are yesterday's latest quotations, subject to the usual brokerage:— Dbedging Stocks. Blackwater—Buyers 4s, sellers Es 9d. Electric—Sellers 5s 9d. Golden Bed—Buyers 7s. Hartley and Riley—Sellers 10s. Masterton—Sellers 7s. Manuherikia —Sellers 7s. . Olrig—Buyers Is. . Pactolus—Buyers'3s 6d. Rise and Shine —Sellers £1 9s. Sailor's Beiirl—Selleiis 4s 6d. Muddy Terrace—Sellers 15s. Mining Stocks. Roxburgh Amalgamated—Sellers 3s. Ross Goldficlds—Sellers & 3d. Consolidated Goldfields—Sellers 14s 3d. Kuranui Caledonian (Ltd.)— Sellers lid. May Queen (Ltd.)— Buyers 2d, sellers 6d. New Sylvia—Buyers '9d, sellers Is. Old Hauraki— Sellers 6d. Occidental—Sellers Is; Watchman—Buyers 2s 3d, sellers 2s sd, Tasmanian Copper—Sellers 6s. Talisman Consolidated (Ltd.)— Buyers £1 16s 3d, sellers £1 17s. Waihi (Ltd.)— Buyers £1 lis 9d, sellers £1 12s 6d. Waihi Grand Junction (Ltd.)— Buyers £1 Os 7d, sellers £1 Is 6d. Waiotc.hi (Ltd.)— Sellers 2s. Mount Lyell—Sellers £1 55,. ■ Investment Stocks. National Bank —Sellers £6. Bank of New Zealand—Sellers £11 Bs. National Insurance—Buyers £2 ss. Standard Insurance—Sellers £1 12s 3d. U.S.S. Co—Buyers £2 8s 6d, sellers £2 9s 3d. Westport Coal Co.—Sellers £1 7s 9d. Westport Stockton—Sellers 4s Id. National Mortgage Co. —Sellers £4. Perpetual Trustees Co.—Sellers £1 3s- 6d. Dominion Rubber (prem.)—Sellers ss. Empire Buildings—Sellers £1 2s. : D.I.C. (pref.)—Sellers £1 3s. D.I.C. (ord.)—Buyers 6s. Kaiapoi Woollen Co.—Sellers £5 4s. Milburn Lime and Cement (£l)—Buyers £1 18s 6d, sellers £2 Is. Milburn Lime and Cement. (10s)—Sellers £110s. _ ■ Mosgiel Woollen Factory—Buyers £3 10s. N.Z. Drug Co.. Ltd. £2 10s.' N.Z. Paper Mills—Sellers 19s 3d. N.Z. Portland Cement —Sellers 17s Bd. N.Z. and River Plate Land Co.—Buyers £1 19s 6d, sellers £2 Is. Otago Daily Times—Buyers £2 12s. Donaghy's Rope and Twine—Sellers £1 7s 6d. Wright, Stephenson and Co.—Buvera £5 12s 6d. CANTERBURY STOCK EXCHANGE. (Per United Press Association.) CHRISTCHURCH, March 7. Tho following sales were reported today :—Taupiri Coal, £1 4s; Christchurch Gas, £7 10s; National of Now Zealand Insurance,. £2 6s; Canterbury Frozen Meat (prqf.), £5 2s 6d; Union Steam Ship Rights, 13s. LONDON SHARE MAEKET. Press Association—By Telegraph—Copyright. LONDON. March 6. Waihi: Buyers, 31s lOd; sellers, 33s Id. Talisman: Buyers, 355; sellers, 40s. CROMWELI; NOTES. (Fbou Ocr Own Correspondent.) CROMWELL, March .7. Tho weather is exceptionally warm with hot winds,. so there is every chance of rain following. Mining matters arc quiet. _ The Clutha fleet of dredges arc all working, but nono is doing anything great. Tho Punt dredge is getting a little over working expenses, and the Confidence dredge about the same. The Rising Sun dredge will soon finish the cut to the top boundary, and will then move down to the Rise and Shine cut t.hat was just finished. It is 'doubtful if the dredge will be able to get down without doing some dredging, as there' arc a number of very shallow bars to negotiate.