LATE MINING.

Otago Witness, Issue 2361, 25 May 1899, Page 30

LATE MINING.

(Continued from pv<}e. 20.}

THE WEEK'S DREDGING RETURNS. For the week ending Tuesday (23rd mst.) returns were reported from 17 dredges, tlie total gold yield being 818oz 12dwt 2gr, or an average of slightly over 48oz per dredge. Thanks to . the fine yield from the Magnetic the leturns are considerably above those of the previous week, when the total from 20 dredges was 5850z 12dwt Igr, Last week's returns were : — Oz. Dt. Gr.

NOTES FROM REEFTON.

(Fbom Ouk Own Correspondent.)

RE'EFTON, May 23

A reef was struck in the crosscut in No. 8 level of the Keep-it-Dark mine. No particulars are to hand yet.

STOCK EXCHANGE QUOTATIONS

The following are Tuesday's latest quotations : —

DKEDGING.

Chatto Creek— Buyers' £1 13s 6d, sellers £1 17s.

Cromwell — Buyers 10s 6d, sellers lls premium. Dunedin — Sellers 17s. Evans' "Flat — Buyers £1 0s 6d. Golden Gate — Sellers £3 13s. Golden Terrace— Sellers 17s. Macraes Flat — Buyers 19s 6d.

Magnetic — Buyers £3 4s 3d, sellers £3 ss. Matau— Buyers £2 16s, sellers £2 18s. Nevis (contributing) — Sellers £1 J» 6d. Riverbank — Sellers 9d premium. Tuapeka — Buyers £1 0s 6d. Upper Waipori (contributing)— Buyers 2s lO.Jd, sellers 3s 6d. Vincent — Buyers £1 14s Gd. Waimumu— Buyers £1 10s, sellers £1 Us. Olrig — Sellers 9d premium. Central Electric — Buyers 3d, sellers Is premium. Charlton Creek — Sellers Is premium. Moa Flat— Sellers pay Springvale — Buyers 6d premium. Waimumu Extended— Buyers par, sellers Is premium.

Alpine Consols — Buyers 6d premium,

THE ELECTRIC DREDGING COMPANY.

Reports were current on Tuesday that last week's return fiom the Lady' Ranfurly diedge, working on the Electric Dredging Company's lower claim, was a phenomenal ons, and 1008oz was confidently named as the coriect yield. The directors of the company decline at present to make their returns public, bift, on making inquiries we were informed that though last*' week's yield was an excellent one, it did not reach anything like the amount currently leported. Beyond this, however, 110 information could be gathered.

ROUND HILL MINING COMPANY. Since the appointment of Mr George Lee as manager and Mr A. Reynolds as secretary this company (says the Riverton Star) have very considerably extended their workings, the magnitude of which may be gathered from a brief description. The company, on commencing operations in 1801, .purchased water r.ices at a cost of £10,000. Since then they have constructed others, and the total cost to date is over £18,000. The main race has a capacity of 36 Government heads, Port's and the Extension contributing 26 heads, Anderson's, Berndtson's, and Ward's races making up the balance. The elevation is about 300 ft above the workings. All the races contribute to a main 27m pipe line, 90 chains long, the plates being of best annealed steel of 14 and 10 8.W.G., the pipes being boggled at each section sc as to produce a smooth surface inside, thus avoiding loss of power by friction. The distributing pipe line from the main onexonsists of an 18in line of 30 chains, and one«biile and a-quarter of 13in line. Other linos of llm and 7in make aya v total of three miles and a-half of pipe lines, which cost £6000 up to date. The 18in and 27iu pipes were made on the ground, the making plant costing JE4OC. The water races, including the main one, number 35, and the company have 50 other rights, including branch races, making ,i total of over 85 mining rights. Their water races cover 68 miles., the length of Port's race alone being 13 miles, the Extension 11, Berndtson's 11, Erskine and Anderson's 15, Turnbull's 5, Ward's 3, and Price's 5 miles, the connecting 'races of two miles making the total length given. This does not include eight miles of branch races.

The dam cost £650, holds about 26,000,000 gallons of water, and covers an area of eight or nine acres, the deepest part being 29ft. This, we think, is one of the largest darns in the colony.

There are four sets of gold-saving tabies and elevators erected, three of which are woiking night and day, the distance between the two most widely separated being three-quarters oi a mile. Each elevator is capable )f lifting about 60 tons of material per hour, the average number of Government heads used to each being S^.^nd 3| on the nozzle-working face. The average height of the face is 39ft — a 70ft face has been worked. So far the company have worked out 38 acies, and recovered £36,000 worth of gold, each yard lifted giving 12 grains, valued at 3£d. The number of men generally employed is 45, exclusive of the manager and secretary, so that they give a lot of employment. This company has now reached the turning point in its career, the capital expenditure being finished, and in the future, with three elevators regularly at work, there is not the slightest doubt that substantial dividends will be paid. It is gratifying to the shareholders who mostly reside outside the colony, that the profits in the past have paid all working expeiises, as well as for all extra plant, claims

purchased, etc., without making any call on them.

Messrs Barr, Leary, and Co., and Hamilton and M'Kerrow, the brokers for the Dunstan j-iiead Gold Dredging Company (Limited), report that the share list is now closed, the available shares having been fully applied for. The Ettrick dredge was undergoing repairs last week, and there was consequently no wash up.

The brokers for the Monte Christo Dredging Company inform us that over 3000 shares have already been applied for.

The prospectus of the Vincent Extended Gold Dredging Company, with a capital of £7000, will be issued in a few days.

Magnefifc, Cromwell 400 Matau, Alexandra 57 Success, Waipori . . . . ... 39 Alpine (Riley's Beach), Cromwell 35 Golden Point, Alexandra .. ..34 Upper Waipon, Waipori . . . . 33 Manorburn, Alexandra- „ . . 2S Chatto Creek, Manuherikia .. 27 Jutland Plat, "Waipori .. ..25 Golden Gale 22 Sunlight, Tuapeka 20 Dunedin, Roxburgh 22 Empire, Waipon 19 Golden Terrace, Lower Shotover.. 17 Golden Treasure, Miller's Plat .. 16 Vincent. Clyde 11 Evans' EUat, Tuapeka .. .. 9 0 0 0 0 0 12 10 0 0 18 7 7 0 19 0 5 14 0 0 0 0 0 0 0 0 0 0 0 0 2 0 0 0 0