THE VALUATION OF MINES. Auckland, March 15.

Otago Witness, Issue 2299, 24 March 1898, Page 20

THE VALUATION OF MINES. Auckland, March 15.

[ At the quarterly raeettug of the Chamber of I Mines Mr Ingall brought up the question of the I valuation of mines now being made by the j Government, and asked if the chamber cou'd not take some steps with the view of obtaining an official statement as to what is the real reason of the valuation The Chairman saia it might have a calming effect on investors at Home if the chamber got an official denial of the suggestion that the Government intended to use this valna-. tion for taxation purposes. It was then agreed that the council ask for an official statement as to the basis on which ihs valuations are being made and the purpose which they are intended ta> serve. | THE LAKE GEORGE JUNES (LIMITED), NEW SOUTH WALES. The general manager reports as follows f | week ending February 28 :— 1 Mining.— Southern Section : Keating's shaft Operations rtaumed , at present engaged puttir runt.ei'3 in Wf stern windius compartment. Go tumvel — New footwall securely timbered ; EOffc f 1 the week. No. 1 tunnel — "Various faces ai stages producing suitable iron, and siliciot

, goßSans. Bright's shaft, 63ft level— ?outh drive extended 20ft ; present end showing face of payable soft d.ppgr sulphides. Northern Section : Air corn-preasor plant since 22nd inst. working satisfactorily. Nos. 1, 2, 3, aud 4 levels— Stopes in various levels are producing large quantities of rqixed sulphides. Western Section : Shaft sunk 4ft (icial 61ft); present bottom carrying copper sulphides. Smelting Plant. — Four furnaces in operation — three on sulphide ore reduction, other on concentration of first matte. THE MOUNT LYELL MINING AND RAILWAY COMPANY (LIMITED). Mr A. G. Fenwick supplies the following extracts from head office leporfc received by him for week eading Febrary 23 :—: — Smelting Plant No. 1. — Five furnaces in operation ; prolongation of main brick flue for No. 6 furnace in progress. Smelting Plant No. 2. — Excavation for building, Ac, proceeding ; plate-laying for inclined haulage line for materials in progress, formation of same completed ; excavation for main chimney progressing favourably ; other preliminaries in hand. New Laboratory. — Interior construction in progress. New Machine Shop. — Nearly ready to occupy. New Sawmill.— Nearing completion. Converter Plant — Extension of storage aud loading platform in hand ; 5436 tons of blister copper consigned to date, being 2171 tons for the current half-year. From the 10th February to the 9th March a total, quantity of 9248 tons ore were treated. Of -. this, ' 8427 tous were from the open cuts, assaying— cfpper, 324 ; silver, 424 ; gold, "2239. From No. 4 tunnel there were 821 tons, assayingcopper, (s'l'2 p r Cent. ; silver, 6'oloz ; gold, *051oz. Thu converters produced during the same period 313 tons blister ccpuar, containing — copper, 309 r to"H8 ; silver, 35,5580z"; gold, 2001DZ. DUNEDIN STOCK EXCHANGE. Quotations— Friday, 18th March. Members : Barb, Peter (Bair, Leaky, S. C. (Barr, Leaiy, and Co.) Lsary, and Co.) Bartlkman, A. Logan, John Bbent, Septemus E. MooniE, Thos. (PerChalmeu. Thos. (Brod- petual Trustees Co.) rick «s Chaimer) Ponsonby, John C. Chakkan, J. A. Quick, E E. C. (Quick Cogan, B. A. and Smith) Fenwick, A. G. Beeves, Harman Forbes, W. G. Eeid, H. W. (John Rid Fox Cms J. <fc Sons) Gage, John, Secretary Fcott, J. R. (J. and W. Gage) Sidey, Arthur M. (A. BL*Mii/roN,AND.(HamiI- M. Sidey and Co.) tei. & M'Kerrow) Sievwright, Neville Harvey, C. W. Smith, E. R. (7uick and Heliuorc, Pehcy Smith) HEiiDAur., Alex, (Com- Tbythall, Edward mercial Property Go.) Vivian, W. Watson, W. J.

" MINING ACT, 1894." TO THE EDITOH. Sir, — By an act passed by the Legislature in 1894- it is provided that no man acting as secretary or manager of any mining company can at the same time act as a broker or dealer in the buying or selling of mining shares under » fceavy penalty. I understand there is at present . • little uneasy flutter in the dovecot of those who in defiance of the law have been acting m thi* dual capacity. However, there seems to be i * more serious aspect of the case, inasmuch as i * itrict interpretation of the act leads gome j f o»j acute legal interpreters of tbe act to affirm

I that in every case where the directors of a ' mining company employ as their secretary or manager a man known to deal as a broker in i mining shares, each and every one of these director? comes under the penal clause of this ■ act of 1894. If this is bo, directors in mining ; compnuies would do well to look out. — I i am, &c, , Dunedin, March 15. Observes.

J'rom. To. Banks: £ c. d. £ s. d. National 2 5 0 2 7 0 New South "Wales ... 33 15 0 34 5 0 Union of Australia, Ltd 27 0 0 27 10 0 iNSCIiANCE: National ... 015 6 015 9 New Zealand 3 5 0 3 8 0 South British 2 7 0 210 0 Standard ... 012 0 012 4 Shipping : New Zealand Shipping ... 4 2 6 4 6 6 Union Steam 9 5 0 9 15 0 Csal : KaiKagata (old) 24 6 0 25 0 0 Do (new) 2 9 0 210 0 Weslpoit 215 6 216 6 Loan and Agency: CojutErr<.'ial Property Co. (10-)' 0 4 6 0 5 0 National Mortgage .. 010 6 011 0 New Zealand and River i'-late Land Co. ... 016 0 017 0 Perpetual Trustees ... 019 6 011 6 . Trustees and Executors 110 0 111 6 Miscellaneous : Kniapoi Woollen Co. ... 6 0 0 6 5 0 iliiburnliiti-eandCeinent 110 0 110 6 Do (new issue) ... 0 3 6 0 3 9 [premium Mornington Tramway ... 015 6 016 0 MoEgiel Woollen 460 470 New Zealand Drug (£2 paid) "276 283 New Zealand Drug (30s paid) 1 15 6 1 15 9 Otago Daily Times ... 11 0 0 11 5 0 Eoslyn Tiainway 1 10 0 111 0 Emu Bay Railway ... 0 7 0 0 8 0 Mew Zealand Asbestos Co. 0 19 0 2 0 [premium OidLDFIELDS: BKEFTON. Big River Extended ... 0 6 0 0 7 0 Cumberland Extended ... 0 19 0 2 0 Keep-it-Dark 0 14 6 0 15 6 Alpiuel'xtended 0 5 9 0 6 3 Welconip (o. (Ltd.) ... 0 3 3 0 3 9 Crce;us (Paparoa) ... 010 0 011 0 Do 0 7 6 0 8 0 AUCKLAND. Bunker's Hill 0 10 0 14 Crown 110 12 0 Monov.ai ... 0 2 9 0 3 0 Wairekauri 1 18 0 2 0 0 Waihi Silverton 053 056 Woodstock 10 0 12 0 OTAGO. • * Alpha (vendors) 0 13 0 0 15 0 Morning Star (A issue) ... 015 9 016 6 Opbir Deep Lead 0 17 0 10 0 AUSTRALIAN AND TASMANIAN. Great Southern Mount Lytll 0 14 0 17 Barlen Hercules ... ... 0 0 5 0 0 7 Crown Lyell ... ... 012 0 013 0 South Hercules 0 2 1 0 2 3 Mount Lyell Extended... 016 0 017 0 Mount T/yell 13 18 0 14 0 0 North Mount Lyell (new) 3 0 0 3 3 0 Lyell Tuarsis (new) ... 1 9 6 110 fi Pricce Li ell (paid) ... 0 3 3 0 3 9 Mount Black (paid) ... 0 6 3 0 6 9 Silver Queen 0 3 3 0 3 9 Lake George Mines ... 17 6 110 0 Oonah (contributing) ... 0 7 9 0 8 0 Au&Lralian Tin 0 3 3 0 3 9 Girilamboce 0 13 0 0 15 0 Mount Black Extended... 0 13 0 16 luledgikg Companies : Buller 0 6 0 0 7 0 Clyde ... 217 6 3 0 0 Bunedin ... .„ ... 0 6 6 0 7 6 Enterprise ... ... ... 215 0 217 0 Golden Beach * 0 11 3 0 11 6 Golden Gate 1 12 0 1 13 6 Golden Run rN) 6 116 Golden Treasure ... ... 3 0 0 3 3 0 Golden Terrace 0 2 0 0 2 6 [premium Jutland Flat (paid) „. 0 7 0 0 7' 6 j Kyeburn ,„ 0 1 0 0 16 [premium Lion Rock 14 6 16 0 Molyueux Hydraulic Co. Dredge (B issue) ... 1 7 0 19 0 Nevis 0 17- 0 0 18 0 Otaeo 111 6 1 13 0 Upper Waipori (contrib.) 0 16 0 2 0 Slvicino Companies : Moonlight Sluicing (con- _ ! ri H •;• , 117 0 119 0 Roxburgh Amalgamated (contrib.) ... .., 0 5 9 0 6 6 Deep Stream ... ... 019 9 10 6 Bakery Flat .., ... 013 0 015 0