OTAGO STOCK EXCHANGE.

Otago Witness, Issue 1891, 1 May 1890, Page 13

OTAGO STOCK EXCHANGE.

Saturday's Quotations,Otago Dftrfglng Companies: Sew Hoy Big Beach (30s pd) 10 6 11 0 Golden Bar (20s paid up) ..." "16 0 18 0 Kawarau Big Beach (7s 6d paid up) ... ... — 5 0 Sandhills (8t paid) ... — 8 6 ■Talisman (15s paid up) ... 13 0 14 0 do (contributing, 7s pd) 7 3 7 6 Upper Waipori (4s 6d paid) 6 6 6 9 do (10s paid) ... 8 6 9 0 Waipapa ... ... — 25 0 Wakatipu (7s 6d paid up) ... 4 6 4 9 Sluicing Companies : FairMaid.Westport(lOspaid) — 10 9 Roxburgh Amalgamated (3s pd) 3 3 3 6 United Hercules (£1 paid up) 58 0 57 0 do (contrib., 14s pd) 55 0 56 0 Hercules No. 2 ... ... 14 0 — Commissioners' Flat (6a pd) — 7 0 ( trfgo Quartz Companies : Crce»us (2s paid up) ... 0 4 Eureka (10s paid up) ... — 2 6 Gallant Tip ... ... 3 0 — ■■•'<=■ nthorn Consolidated (2s pd) — 0 3 Tii>j>erary ... ... — 2 0 H'jrft.n Companies: Uitf River ... ... 3 0 3 3 Globe... ... ... 20 6 — Inglewood ... ... — 2 6 Inkerman ... ... 25 0 — Jlewwd ... „, 18 MISCELLANEOUS. The following notice of motion was given by Mi Binus at the meeting of those favourable to

the formation of a Chamber of Mines :— ■" That this chamber respectfully urges upon the Government the necessity of providing for two classes of certificates for mining managers, under "The Mining Act 1886' and 'The Coal Mines Act 1886.' " It is reported that good gold prospects have been obtained on the main land near Preservation Inlet. At a meeting of the locil shareholders in the Blue Spur and Gabriel's Gully Consolidated Gold Company, held at Lawrence last week, considerable dissatisfaction was expressed at the manner in which the local shareholders were treated by the London ! board. The chairman (Mr Alex. M'Nab) said that j the way in which they had been treated was simply disgusting. Notwithstanding the fact that they held 20,000 shares, during the two years it had been in operation not one of them had been informed of a meeting of the oompany or of anything connected with It ; In fact, it seemed to him that thote in authority tried to keep the local shareholders as much in the dark a» possible. Me mentioned that he was speaking to one of the local bankers a short | time ago about the affairs of the company, and made the remark that be had no knowledge of the amount of gold the company was then getting, but he believed the year before tho English company purchased the properties that they were turning out three times as much gold as they were now doing. The banker said that he (Mr M'Nab) was considerably below the mark. He was a shareholder in three of the properties now held by the Consolidated Company, and could say positively that all three paid good dividends up to the time of transfer. Other shareholders spoke in the same strain, and a committee was appointed to take legal advice, to draw up questions to be laid before Sir Walter Buller on his arrival, and to procure evidence from I managers of Blue Spur companies aa to results of eaoh company's operations for 10 years prior to sale j to the Consolidated Co. j A case of considerable importance to miners was heard before Warden Rawsonat thelastsittlngof the Warden's Court, Eiverton. Donovan, Barry, and ! others sued Michael Hennessey for £50 damages on account of defendant having run sludge into their i water race at Orepuki. It appeared that the defendant had not actually run sludge into the complainant's race but into the creek from which the water was taken. The defendant's tail race runs into tho same creek several chains above the point at which the complainants lift their water and of course the tailings from the defendant's claim fouled the water in the creek and tended to sludge up the complainants' water race. The warden held that the defendant had a right to run tailings into the creek, even although it might to a certain extent damage the complainants' race, otherwise any person holding a right to lift water from a creek near Its mouth might stop all working above him, which he thought was never contemplated by the Legislature. The complaint would be dismissed, with costs (£3 18s). Mr Lyle appeared for complainants and Mr Wade for the defendant. The warden's decision gave general satisfaction, except, of course, to the complainants. If they had succeeded they would have put a stop to all work higher up the creek, and if the principle had been affirmed the holder of the first right to water in the tame creek would have been able to Stop half the milling operations at Orepuki. as the ttream in question is the only outlet for tailings from a number of claims ; in fact so much so that several parties are making good wages working the tailings in the bsd of the creek.— Rlverton correspondent Southland Times. The Southland Times reports that the L*ke Brunton Gold Dredging Company's dredge was successfully launched in the lake, near Fortrose, on Monday, and the pontoons, which are just finished, will be attached in a day or two. It is understood that the machinery is now on its way to the colony, j and operations will probably be in full swing in the | course of a few weeks. The Nenthorn Recorder reports :— "A rich block discovered in the Blue Slate mine last week has stimulated the company to further action. A small crushing of this rich find produced 950z amalgam. This stone was taken out close to the I surface where the reef was small. Following the lode downwards it widens out, carrying splendid prospects. Ihe company escaped liquidation through this timely discovery, which promises to redeem the waning confidence of shareholders. Other companies would do well to take a lesson from the experience gained in this quarter. The tributers employed in the Prospectors' mine are getting out some nice ore, whioh Is expected to give a satisfactory return."