THE WEEK'S MINING NEWS.

Otago Witness, Issue 2369, 27 July 1899, Page 22

THE WEEK'S MINING NEWS.

Tho case of Ross and others v. the Golden Point Dredging Company engaged the attention of his Honor Mr Justice Williams at. tlie Supreme Court on Thursday. The case was an appeal from the decision of Mr Warden M'Carthy in granting to the Golden Point Company in February last, for a term of 10 years, a license for a tail race through what is known as the Ngapara Company's special claim, on the Molyneux River, in the Leaning Rook district. The appellants maintain that tho application was not a bona fide- application for a tail race, but was an attempt to obtain part of the appellants' land without paying compensation. They also say that the construction of what was alleged to bo a tail race would seriously interfere- with the proper working of -their claim. After three witnesses had been examined for the appellants tho further hearing of the ca.=e was adjourned until to-day. We are informed by the brokers thai the Blue Duck Gold Dredging Company, with a capital of £7000, of which £5500 was offered for subscription, was neaily doubly over-sub-scribed. Messrs Cogan and Crawford report the flotation of the Smith's Creek and Bannockburn Deep Lead Dredging Company (Limited), with a capital of £12,000. The subscription list was only opened on the morning of the 19th inst., and it was over-subscribed by 4 p.m. of the samo day. The Vincent di-edge did not wash up on Wednesday, 19th, as usual, having stopped all Tuesday. It was intended to strengthen the tumbler framing t'vo months ago, but in consequence of tho difficulty in obtaining the requisite timber it T/a3 not po3cibla lo do fo till now. Had j ths work been done c?..rlier in the season, the drcdg» would have stopped for a fortnight for this purpose, but as the river iz now favourable for dredging the dvedgemcstsr has decided only to stop ac occasion may require for a few hours pt the time to enable tho timber to be bolted to the tumbler flaming. The dredgemasler reports that the ground continues good, though the returns show a alight dccref.se on account of the nace3sary stoppages. The shaie li3t of the Upper Magnetic Company closed at noon on Saturday. The broker informs us that this company is one of those which have been most largely subscribed for by Cromwell residents, there being over 2000 shares applied for in that district. -Mr Jabes Burton reports:— The-Ettrick Gold Sluicing and Dredging Company (Limited) commenced dredging (after repairing) on Wednesday, 12th inst., and opened out the paddock a<*ain. There was no wash-up that week. The prospectus appears in the Daily Times of the 19th of the West Matau Dredging Company with a capita! of £14,000, divided into £1 shares of which 12,000 are offered to the public. Of this number 4000 ate reserved for. Clyde. The comp-

any is formed to acquire and work a claim of 70 acres on the banks of the Molyneux Eiver, Alexandra, extending from the boundary of the Matau Company's claim into the bank of the Molyneux. Reports from a number of minors and experts are attached to the prospectus. The Dunedin brokers are Messrs Quick and Smith, and Messrs Cogan and Crawford. Mr Lawrence Ryan, is broker for Alexandra, and Mr J. H. Keddell for Clyde. The Matau Dredging Company (Limited) on Thursday declared a dividend of 3s per share. The board placed JBIOO to reserve fund, and carried forward about £150. A meeting of directors of the Olrig Dredging Company (Limited) was held at the registered office of the company on Thursday evening to receive the reports of the boring operations. Mr S. Luke, one of the Alexandra directors, was present, and gave the meeting the benefit of his opinion. The boring operations have proved conclusively that the old river bed runs through "the claim, and the prospects obtained were considered very satisfactory. Bottom was reached at 21ft. The prospectus appears in Friday's Daily Times of the Morning Star Gold Dredging Company with a capital of £5500, in £1 shares, o£ which 2000 shares aro offered to the public. The company is formed to acquire and work the New Zealand Company's claim in the Leaning Rock district with the dredge Morning Star. The additional capital is required to alter and improve the dredge. Reports by the manager of the Manorburn dredge and Mr E. Hay, M.1.C.E., are- attached to the prospectus. The brokers are Messrs Cogan and Crawford. It is understood (says the Bruce Herald) that as a result of the decision of Mr Justice Williams, a" deputation of miners will wait on the Government, in Wellington shortly, with a view of action being taken to protect tho Glenore dredging interests. The Pleasant Valley Company washed up on the 12th inst. for 9oz 12dwt 20gr, value £37 2s 3d, for 12 days. The previous return was lloz 0:lwt 18gr. The manager reports that he is now working o:i tho east side, and expects very much better returns. — Mount Benger Mail. Shotover Quartz Mining Company (No Liability). — Mr S. E. Brent supplies the following .extract from the mine manager's report: — " Machine level extended 7fi, total length 770 ft. Quartz now 2Jft wide, and looking weJl for continuing. Ore prospect much the same. Have now 20 tons of stone out for trial crushing when weather permits. ' Dredging claims have been pegged off about five miles from Hedgehope, Southland. Messrs A. C. Broad and C. Ziele have joined the directorate of the Gold Queen Dredging Company' (Limited). The dredge . being built for this company is now well forward, and tho builders are confident that they will earn their bonus by having the dredge completed and at work two months prior to contract time. The Lake Wakatipu Mail states that the holders of prospecting licenses on the Dart Eiver have changed them into licenses for dredging areas.' The applicants are said to be satisfied that gold can be procured in payable quantities. The length of river bed taken up is about three miles, varying in width from half a mile to less than a hundred yards. Tho spot is about 26 miles from Kinloch, Head of the Lake, aid is easily accessible. Mr Harmon -Reeves (in conjunction with Mr J. Solomon, Cromwell) reports the flotation of the Upper Magnetic Gold Dredging Company (Limited^ with a cs-pital of £8000 in 8000 shares of £1 each. Some 2000 phares were applied for in Cromwell and district. The prospectus appears in Monday's Daily Times of the Cairmnuir Gold Dredging Company, with a capital of £8000 in £1 shai-03, of which 6650 shares are offered to the public, 2000 of these being reserved for Clyde. The. company is formed to acquire and work 45 acres about one milo and a-qitarter above the town of Clyde, adjoining the Vincent Extended claim to tho south and tho Dunston Pioneer claim to the north. Reports aro attached from miners and dredgemasters as to the prospects of the ground. The brokers are Messrs Quick and Smith. There are bright prospects (says a contemporary) in front of Tauranga, Bay of Plenty. The big claim at Tepuki is, it is said, to be thoroughly developed. An English company has taken an option over it for 12 months, with right to lease it for 42 years. Tliis company sent a qualified miner to inspect and test the quartz, and ho has sent a favourable report. It is believed, therefore, that the long-expected | " boom" is at last on its way to Tauranga. An Auckland telegram sUtes that the Hauraki Company, Coromandel, crushed 200 tons fo; 3270z gold; the Kapa'ign crushed 42 tons for ■a yield of gold of £255; Scotty's Company crushed 8 tons 361b specimens for lOOoz gold; Royal Oak, 100 tons for lOOoz. The Rev. J. Campbell has left for Sydney to endeavour to obtain more capital to continue tho treatment of ere at Te Aroha by means of tho thermo hyperpaoric process. The manager of the company expresses the opinion that lie will succeed and that tt>o plant is to be enlarged. Waikaka has been receiving a good deal of attention at the hands of mining investors lately, and a company has been formed in Duacdin to dredgo Mr Pateison's freehold there. The capital is all subscribed, and the company registered. Mr J. 3. Rninsay is secretary, and the contract for the pontoons of the first dredge is^ already let. We understand this eonpany will build more than one dredgo. In another column wo publish the prospectus of the Premier Waikaka Gold Dredging Company, which is being floated by Messrs Talboys and patty, and for which Messrs Ponfionby and Harvey are brokers, and Mr Jno. J. Ramsay interim secretary. We are informed that a laige number of shares have already boon applied for, and that residents in Gore and Waiknka have undertaken to take 2000. The Waikaka correspondent of the Southland Times reports that there is a splendid future bsfore this district in the way of good solid investments for anyone desiring a, safe, steady return for his capital. Coal is easily got. The expense of putting a dredge on is alleged not to be heavy, and there is no danger from floods, yet water is plentiful, whilst gold has been traced from one end of tho valley to the other. The Premier Company, Macetown, during the past 12 months crushed 1675 tons of stone, yielding 12980z retorted gold, value about £5070. An Auckland telegram states that the Woodstock Company crushed 1030 tons for a return of bullion valued at £1365. The Waitekauri Company crushed 3237 tons for a return of bullion valued at £9263. j