THE WEEK'S MINING NEWS.

Otago Witness, Issue 2320, 18 August 1898, Page 16

THE WEEK'S MINING NEWS.

The Empire dredge (Waiporz) is at present undergoing an overhaul, and it will probably be the end of the week before everything will be in readiness for ft fresh start. Before closing down the manager washed up and obtained 220z 17dwt of gold for 81 hours' actual dredging. Wo understand that the directors of the company have resolved to place a second dredge o;i their claim, and have accordingly arranged with Messrs Culten Bros, to act as consulting engineers and prepare plans and specifications for the dredge. The capital of the company has in consequence been increased from £3200 to £5000, and it is very gratifying to state that the whole of the shares of the new issue have been taken up by the present members of the company, thus showing the confidence- they possess in the valuo of their property. An Invercargill telegram states that several gentlemen interested in dredging on the Molyueux have been down trying Hie Southland rivers, with the result that they are makingapplications for areas on the Mararoa and Oreti, on which they will place dredges. A Greymouth telegram states that a largelyattended meeting of those- interested in mining has been held to urge upon the Government to lessen the rents and taxation on mining leased. A scries of resolutions with that object was caniod, and the meeting agreed that every nreesuro bo brought, to. bear upon fcuo GevexA-

ment to induce them to alter legislation and fo give redress to the wrongs under which the mining industry suffers by the picrfeut exorbitant rent and taxation. iShotovcr Quarts Mining Co. (No Liability). — Mr S. E. .Brent supplies the following extracts from the mine manager's weekly report, ditsd Bth inst. — "During the past week the machine | level has been extended 13ft, making total

length 412 ft; formation a little harder, but otherwise no change. ' The Broken Hill Proprietary Company, Inpw South "Wales, has paid £6,01(5,000 in dividends on a nominal capital of J0384,000. This beats the Mount Moigan Company, which hrs pa=o £4,700,000 on a capital of £1,000,000. The Allsdni Lamp Company, Orange, New Sou'.h Wales, has paid £170,600 in dividends, the nominal capital being £100,000. The Wentworth Company, in the same district, has paul £275,000 in dividends, the capital being £500,000. The "Waihi Company, Auckland, paid £G'i,ooo in dividends in 1807, on a nominal capital of £320,000. In Queensland the Brilliant Company, Charters Tcwers, has paul £174,853 in dividends on a capital of £520,000; the Biilliant and St. George Hailed, £232,500 on a capital of £144,000; the Day Dawn Block and Wyndham, £437,012 on a capital of £500,000; the Victoria Gold Mining Association, £214,800 on a capital of £150,000. In Western Australia, Lake View Consols lias paid £250,000 in dividends on a capital of £250,000. An Auckland telegram states tJiat the Talisln.wi return is £1945 worth of bullion from 794 tons. Tho Dunedin Stock Exchange give the following as the result of the Mount Lyoll smelting for four weeks ended July 23: — 13,672 tons of ore treated, producing 373 tons copper, 50,57J0z silver, 19530z gold. Tho price of a sixth share in the Alpine dredge is i.ow £850.— Cromwell Argus. The Mataura Ensign reports that Messrs Grey and Parsons have patented an attachment of two sets of thTee-pvongcd tines, or spikes, on the lower tumbler shaft round which the buckets of gold dredges pass as they descend to the bottom of the water. These tines are continually revolving, and loo«en material in sufficient quantities to keep the buckets full or nearly so. The spikes in question are fitted with removable steel points or " socks," permitting of their being replaced when worn out. An Auckland telegram says that the Talisman return is £I!MS worth of bullion from 791 tons. The .Roxburgh Amalgamated Mining and Sluicing Company (Limited) repoii the following gold returns:— For June, HOoz Bdwt lOgr; July, 90oz ISdwt. An Auckland telegram states that the New Zealand Crown mines batteiy crushed for last month 2500 tons oro for bullion valued ot £5891. The Wnifcaia correspondent of the Mount Benger Mail sends that paper the following items: — The various mining companies work"ing here are assiduously pegging away, taking advantage of the copious supply of water that everywhere exists. Work at the Otago Syndicate's big race is still being pushed on, but it is expected that it will take some considerable time before it is completed. The manager, Mr Leader, is now upon the ground supervising operations, so that everything should be in readiness for a good start when Ihe water makes itz appearance. Mr R. T. Stewart has the contract for laying the pipes and putting the plant in working order.— From higher up the river conie3 the welcome intelligence that the efforts of the Upper Waikaia Hydraulic Sluicing Company, under the management of Mr P. Hiordan, have proved highly successful. At a depth of 15ft they have struck p. splendid scam of wash 6ft in depth, and carrying heavy gold throughout. The prospects, I am reliably infoimed, are excellent, and the success of the company is undoubtedly assured. The company deserve to be highly commended for the spirit they have shown. The obstacles they had to contend with were innumerable, the convoyance of heavy plant to such a rugged and outlandish part of the country being in itself a task of Herculean dimensions. Yet, -withal, they have triumphed, and the victory is all the more creditable when it has been won under suih unfavourable conditions and against such ovei whelming odds. Their success should undoubtedly give a "further stimulus to work of that kind at the Upper Waikaia, as there aie plenty of choice spots in that locality that may be brought v.ithia the scope and power of the hydmidic. — The company which was promoted Fome short time ago to work an extensive mining grant at Piano Flat, some 16 miles above Waikaia, has been successfully floated, and will commence operations early in the spiing. — The prospectus of another company to work a dredging area adjoining the Piano Flat property is also on the market, but as yet f have not heard with what success the sale of shares has been attended. It is undoubtedly a splendid site for a dredge, as the area in question forms a natural basin for the reception of the golden drift that nitist of necessity Invc been washed down fiom the rich deposits of the Upper Waikaia. Should this company be floated and go nhcad I am sure it will soon be in a position to dispel the delusion that exists as to the probabilities of the Waikaia as a di edging stream.— As far as coming events cast their shadow* before, the incomig spring should witness a great advance in mining matters her?. At a meeting of the Lowbr.ni Almerfc' Association, held on the 3rd insfc., Mr Werner stated that it was 11 years since tho Lowburn Association was instituted, and although during the last year its activity had slackened off, still it would be bad policy to allow the inslition to go to the wall, as at present they had all the necessary machinery and organisation that had tfken years to build up, and they did not know the time when it would be wanted again. All the members present concurred that all means should be taken to strengthen the hands of the institution that had benefited the mining industry more so and longer than any similar institution that had ever existed in New Zealand.