LATE MINING.

Otago Witness, Issue 2359, 11 May 1899, Page 34

LATE MINING.

(Continued from pvoe SO.)

THE WEEK'S DREDGING RETURNS.

For the week ending Tuesday (9th inst.) returns were reported from 21 dredges, the total gold yield from* these being 7740z Odwt 15gr, or an average of slightly over 38oz 14dwt per dredge. The returns were as follow: —

Total 774 0 15 The Waimumu Gold Dredging Company obtained 16oz for 125 dredging hours last week. The mats are again looking well.

STOCK EXCHANGE QUOTATIONS. The following are Tuesday's latest quotations: —

DBEDGING. Chatto Creek— Buyers £1 13s 6d. Clyde— Buyers £2 6s : sellers £2 11s. Cromwell — Buyers 9s 6d, sellers 10s premium. Ettrick (paid) — Buyers 10s. Fraser Flat — Sellers 2s premium. Golden Beach (contrib.) — Sellers 11s 9d premium, y

Golden Gate — Buyers £3 15s. Golden Pomt — Buyers Jgl Bs, sellers £1 8s 6d. Golden Run — Buyers 19s.

Jutland Flat (contrib.) — Buyers 5s 4d, sellers 5s 9d: Macraes Flat — Buyers 19s 6d, sellers £1 0s 6d. Magnetic — Buyers £2 Bs, sellers £2 10s. Matau— Sellers £2 15s. Nevis (contrib ) — Buyers £ 1 Is. New Alexandra — Buyers 5s 9d, sellers 6s 6d premium. Riverbank — Buyers 9d, sellers Is premium. Upper Waipori (contrib.) — Sellers 3s 7Jd. Vincent— Buyers £1 15s, sellers £1 17s. Waimumu — Sellers £1 10s. Olrig— Sellers 6d premium. Alpine No. 2 — Sellers 4s premium. Klondyko — Buyers 9d, sellers Is Cd premium. Upper Waimumu — Buyers Gd, sailers Is premium. Waimumu Extended — Sellers Is premium.

Harman Reeves, sharebroker, Dunedin. Member of the Stock Exchange. Quotations tolcgraphed free on inquiry. Guarantees close prices.

THE CARRICK GOLD DREDGING COM-

PANY (LIMITED). TO THE EDITOE.

Sir, — I have just received a prospectus of the Carrick Gold Dredging Company (Limited), a copy of which I enclose.

I would like to ask if this is the dredge that was built on the Upper Nevis by Messrs Flint, Steel, Magnus, and Macdonald (of Alexandra), and Leijon (of Sawyers' Bay), lome two years ago, and after working for some months was theu taken to pieces, and by themy re-erected on a claim on the Lower Nevis, where she now lies?

If it is the same dredge I trust you will allow me to draw attention to the scheme, as the present owners are old and experienced hands in the dredging business and would not part with their interest in the claims and dredge if they were paying.

The first cost of the dredge in question was less than. £3500, and now they want £7000 The promoters should first explain to investors how it is possible to make the dredge pay interest on a large capital, if she has failed to pay on the comparatively small sum she cost originally.

It is certainly misleading to say that Bbz per week will pay expenses, and only the inexperienced can be caught by statements so wide of the truth. — I am, etc.,

One Weo Knows.

[The secretary of the company informs us that the whole of the books and papers are at Alexandra, and he is, therefore, unable to give the exact cost of the dredge. Inclusive of cost of removal to the claim it is, however, about 165000. . He points out that our correspondent is quite wrong in stating that the promoters are getting £7000 for their property. They are getting only £4500 worth of paid-up shares, and no cash. — Ed.]

C. Bennett was fined £5 and costs at Ohristchurch on the 9th for neglecting to deface the stamp when drawing beer from a ciudc

( Golden Gate, Island Block .. : Magnetic, Cromwell .. .. : Vincent, Clyde .. .., „ Matau, Alexandra .. .. Success, Waipori .. .. .. Golden Treasure, Miller's Flat .. Clyde, Alexandra . . . . „ Manorburn, Alexandra .. «, Jutland Plat, Waipori Empire, Tuapeka Otago, Miller's Flat Dunedin, Roxburgh Sunlight, Tuapeka Golden Terrace, Lower Shotover Ettrick, Moa Flat Nevis, Nevis , Molyneux Hydraulic, Clyde .. Waimumu, near Gore .. „, Kyeburn, Kyeburn Hartley and Eiley, Cromwell Galtee More, Clyde .. .. oz. dt. gr. 161 0 0 109 0 0 92 10 0 59 0 0 36 0 0 31 0 0 27 0 0 26 0 0 23 0 0 21 5 12 20 17 0 20 5 0 20 8 0 20 4 3 00 0 0 19 0 0 18 0 0 16 0 0 14 5 0 13 16 0 5 10 0~