THE WEEKS MINING NEWS.

Otago Witness, Issue 2363, 8 June 1899, Page 20

THE W EEKS MINING NEWS.

The elevator is an appliance for delivering and depositing the tailings at such a distance from the dredge as not to run back into the excavations at the bottom of j the river from which the gravel and gold is being raised. N

' Besides these appliances there are pump, engines, blacksmith's r shop, and sometimes 1 engineer's and carpenter's shops. I All the above parts of a dredge are essential and are found upon every dredge, with the occasional omission of the elevator, which is not required in every case.

Bearing this superficial description in mind the reader ■will have no difficulty in understanding any future account of dredging machinery.

The directors of the Roxburgh Amalgamated Mining and Sluicing Company, in submitting a statement of accounts for the year ended 30th April to shareholders, regret to have to note thp fact that the yield of gold is less than it was last year, and that in consequence they have been unable to pay so many dividends this year as last year. There is, however, a, marked reduction in the expense of management, and financially the company is in a better position ; and had it not been for the loss of time necessary for shifting the main line of pipes the shareholders would have received the same return as they did last year, at a smaller cost. The claim, reservoir, race, and plant, are in good older, and as far as the directors can see there is nothing to interrupt a steady return* for the year just entered on. The wash, according to the manager, shows permanency, and prospects quite as good a yield as what lias gone before. The directors have every leason to congratulate the shareholders on the management of Mr Waight, and need only refer to the diminished expenses as testimony of his cffi

ciency. At the annual meeting of the Pleasant Valley Gold Mining Company, held at Roxburgh, the directors in their report stated that the gold yield had been steady and profitable, although not so large as in the previous year. "Yet they had been able to declare the very substatial sum of £500 in dividends, making in all £1400 paid in dividends. They had added to their plant, and it was their intpution to., further increase their hydraulic plant, by which they hoped to greatly augment dividends during the next year. They also stated x .hat the claim was being worked to their aat.sfaction by the manager, Mr Jambs Martin, \v.:h both economy, and energy. The chairman stated that they had been working all along on a false bottom with gratifying results, -but they would not be satisfied until they tried the "bottom. This meant a good deal of expense in procuring hydiaulic plant and making an ali oration in the lower part of the race.

The Earnscleugh No. 3 Dredging Company is at present testing its ground by sinking shafts. Wo understand fair prospects have been met with in one shaft, but the directors deem it advisable to put down a second at the other end of the claim, and it is to be commenced forthwith. Mr Reynolds, the engineer, has been on the ground, inspecting and taking data with regard to the water power available. We learn that a large area of the terrace land lying above Alexandra, also that above Cromwell, and the flat lying on the Bannookburn side of the river is now being pegged off. An Auckland telegram states that the Woodstock Company's return for the month is valued at £1750. The return of the Tararu Creek Company from 1402 tons is valued at £1427. In Friday's Daily Times will be found the prospectus oi the Dunpflin Pioneer Investment Company (Limited). The claim is situated between the Alpine and the Vincent claims, Molyneux River, and was owned in the early days by Sir Julius Vogel, who, it is said, was successful in taking a large quantity of gold from the famous Pioneer bend on the claim. The shares have been largely taken up in the Dun stan district, as less than 2000 arc now available for subscription by Dunedin investors. The capital is £7000 in £1 shares. Mr John A. Chapman is the Dnnedin broker.

The Secretary of the Otago Company reports that the dredge started work on Wednesday on the winter ground.

The brokers for the Monte Christo Dredging Company inform us that the capital was oversubscribed.

The Adam's Flat dredge is now on the ground, having been taken there by waggon from Alexandra. The men are busy putting it together,

A correspondent of the Gore Standard writes from Hedgehope that Dunedin miners and capitalists are prospecting the Pebbly Hills in that locality, and as a result of a week's fossicking claims have been pegged out. It is anticipated that dredges will be starting in the near fixture. A private telegram has been received in tcwn from G-reymouth, intimating that the Croesus (Paparoa) Quartz Mining Conraany received a return of 148oz fiom 160 tons. The secretary of the Deep Stream Amalgamated Sluicing Company reports a return of 128oz gold for the month of May. The directors announce the usual monthly dividend of Cd per share. Under the heading "What is the Record Return?" the Alexandra Tlorald says: — A report has been published in several papers thiil the Ranfurlv dnxlpfe ftflectric Co.) last week obtained 1008oz. Wo are authoritatively informed that, although the dredge in question is (jetting very good returns, nothing has yet been obtained nearly as large as lljat quoted above. We nre informed (on the best authority) that the record weekly 'eAA for the Electric dredees stands at 64-707

which j'i-eld was obtained by the Electric No. 1 dredge nearly two years ap;o. This constitutes, we also imagine, the record for the river — or New Zealand, for that matter. i It is admitted, however, that the Ran furl y dredge is very familiar with three-figure returns, and when she roac-hes some proved ' ground a liUle ahead of where fho is now -- \vorking, it is expected that she will easily beat |he above-mentioned record. The Roxburgh correspondent of the \lexi andra Herald writps: — In a recent letter I Klated that a special dredging claim had been taken up at Coal Greek by Mr .T. O. Matthews, manager of the Ipland Block claim. This claim is now I learn to be amalgamated with that of Haucrhton and party's. The ( latter is a ground sluicing olaim, but has never been bottomed. Louden and party worked some Ground near here — the locality

is known as Commissioners' Flat — for eit»hfc years, and were never able to bottom. Mr Louden, with whom I had a conversation, says that the ground improved the deeper he went, but that it was very rough, large boulders being very numerous. Mr Matthews intends to put a largo up-to-date dredge on the combined claims, and has every confidence in the property when floated into a public company. One advantage in combining with Hauirhton and party is that an entrance is possible through the latter's claim into Commissioners' Flat. Above and below the claim there is a high reef which would preclude a dredge working into the- banks, much less the flai, from the river. Mr Matthews evidently knows what he is about in amalgamating with the party referred to as he thus commands the whole of Commispi oners' Flat.

•warned against