LATE MINING.

Otago Witness, Issue 2379, 5 October 1899, Page 35

LATE MINING.

(Continutd from pvge 22. \

BALD HILL FLAT FREEHOLD GOLD DREDGING COMPANY.

Our Cromwell correspondent telegTphs: — Business in shares is still quiet. Several claims have been peggerl off during the last day or two.

The Mataura Ensign states that a Gore resident sold a half-interest in a claim on the Mataura River for £300.

The manager of the Undaunted Gold Mining Company, Orepuki, reports having washed up from 'the driving claim, the result being 68oz for the month. The main drive has been extended another 100 ft and cross-drives put in. The total amount of wash put through was about 100 yds for an average of nearly threequarters of an ounce to the yard. The greater part of the dead work on this claim is now completed.

The Clutha Free Press says: — On Friday Mr Rawlins, M.H.R., and Messrs Magnus (Alexandra) drove- to Port Molyneux and pegged off a considerable portion of the Molyneux Bay, extending to the banks of the river. It is said that the party named has " jumped " the ground which Messrs Drysdale and Robertson were granted permission to dredge by the Clutha River Board at last meeting.

All applications for prospecting dredging licenses in the Grey and other rivers were (with one exception) granted by the warden at Ahaura on the 28th ult., the warden remarking that he did not know what effect the operations would have on the freehold lands. — Grey River Argus.

A" proposal is afoot for the establishment of a Slock Exchange at Christchurch. Although the local share list' is at present compaiatively small, one or two brokers express the opinion that a month or two may see it swelled con-siderably,-owing-to a- number of West Coast dredging properties being placed on the market. One gentfernan of a particularly sanguine temperament predicts that dredging on the Coast will supply business for sliarebrokers for the next 50 years. The prospectus of the Royal Maori Gold Diedging Company appears in Wednesday's Daily Times. The company is promoted 'to work a claim on the Clutha Itiver, below Deadman's Point, and includes the beach known as the Clutha Beach, which was worked by a spoon dredge in 1865, and also in 1875. A report from Mr James Ritchie, farmer, accompanies the prospectus. Messr3 Cogaii and Crawford, Dunedin, and Messrs Richards and Jolly, Cromwell, are the brokers. The capital of the company is £'8000, in £1 shares, of which 6000 are available for X^ublic subscription. Up to the time of preparing the prospectus 4000 shares were applied for in Cromwell.

The prospectus of the Hinemoa Gold Dredging Company, situated on the Clutha River, below the influx of the Cardrona River, and adjoining the Upper Clutha Company's claim, will be found in Wednesday's Daily Times. The capital is £7800, in £1 shares, of which 6000 are open_ for public subscription. Mr John F. Kitto, dredgemaster of the Magnetic dredge, states that theie is no drift or large boulders to conlend with, enabling a dredge to work all the year round. Messrs Quick and Smith are the brokers, and Mr Thomas Callender is interim secretary. The brokers report that a largo iiumber of shares have been applied for, one appb cation by telegraph for 850 shares being fiom Macetown.

The prospectus of the White Star Gold Dredging Co. appears in Wednesday's Daily Times. The capital is £6500, in £1 shares, of which 5000 are offered to the public. The claim, which is situated about a mile below Cardrona township, is stated to have been well vrospected, 16 holes having been sunk with boring-rods, and bottom being reached at from {ft to 10ft. Wash was struck- withia 2ft of Hie surface, and in one case 480 cubic feet of wash yielded 3gr to the yard. A report o.i the claim from Me Mitchell, secretary of the Cardrona Miners' Association, also appears, and is endorsed by Mr Willoughby, of Cardrona. Messrs Cogan and Crawford are the brokers. The Dunedin Stock Exchange have adopted new rates of brokerage for both buyers and sellers of mining shares. These rates, the secretary informs us, are not an advance on th.- previous existing rate. The rates are — Up to 6d per share, Jd ; over 6d and up to Is 6d, Id ; over Is 6d and up to 3s, lid ; over 3s and up to ss. 2d ; over 5s and up to 10s, 3d; over 10s and up to 20s, 4d; over 20s and up to 30s, 4Jd; over 30.=, li per cent. The minimum charge for any transaction is 10s.

A hastily convened meeting of shareholders (representing 1000 contributing shares) in the .Bald Hi'l Flat Gold Dredgiug Company was held on the 2nd inst. 1o meet Mr J. Simmonds, of Alexandra, a director of the company. Mr Simmonds recounted at length his mining experience on Bald Hill Flat, and gave tho result of his sluicing operations along the boundary of Kemp's freehold. The Bank of NewZealand .jrold receipts of Carrol and Lynch, who are working near the boundary of Ihe ccmp'aliy'.s property, three-quarters of a mile from the foot of the claim, were produced at the . meeting. Shareholders expressed themselves as highly satisfied with the prospects of Ihe . company, and passed a hearty vote of thanks to Mr Simmonds for his attendance at ihe meeting. - THE WEEK'S DREDGING RETURNS. During the week ending Tuesday. 3rd inst., returns were- reported from the following 2i3 dredges, the total yield being 1112oz 3dwt llgr, or an average of a little over 48oz per dredge : —

SLUICING RETURN. The Roxburgh Amalgamated Mining and Sluicing Company (Limited) report the gold return for the month of September as 1740s 13dwt 18gr. THE STOCK EXCHANGE. Sales were made at the Exchange on Tues-

day at the following premiums: — Bannockburn Creek, 4d; Electric Extended, 2=> Gd and 2s 9d ; Golden Link, 7jd ; Morning Star, 2s 3d ; Number Two Matau, 3s, 3s 3d, and 3? Cd, Orwell Creek, 3s 9d; Sailors' Bend, 9s Gd and 9s 3d: Second Magnetic, Bs. Sales were also made at the following prices: — Chatto Creek, 77s 6d and 775, Dunedin, 8s and 8s 6d; Galtee More, 20s ; Goldci Beach, 21s ; Golden Point, ""is; Hartley and Riley, 150s, 147s 6d, and It. Magnetic, C3s, 623, 01s, ai,-l 64s 3d; Nevis, "50=* . Smith's Creek and Banuockburn, 6d disco in/ The follow ijg, are Tuesday's latest quotations, subject co tht. l isnal brokerage: — Adam's Flat— Sellers Os ineuium. Ahaura River— Buyers od, soltars 9d piemium. Alexandra Lead — Buyers 5s od, seller;, 3s D& premium. Alpine Consols — Bayers 7s 6d premium, Alpine No. 2 — Buyers 7s, sellers 9s premium. Bannockburn Creek— Buyers 6d, sehcrs c Jd premium. Boundary Creek— Sellers 2s premium. Cairnmuir — Buyers ss, sellers 5s 3d premium. Cardrona Valley — Buyers Is premium. Central Electric — Buyers £1 7s, sellers £1 10s premium. Charlton Creek— Sellers 7s premium. Chatto Creek— Buyers £3 15s, sellers £3 17s

6d. Clyde— Sellers £3. Dome Creek — Sellers 6d premium. Dunedin — %3uyers Bs, sellers 10s. Dunstan Lead— Buyers 13s, sellers 13s 9d premium. Dunstan Pioneer — Sellers 23 6d premium. Electric Extended— Buyers 2s 9d, sellers 3s 3d premium. Endeavour — Buyers 6d, sellers Is 9d premium. Fourteen-mile Beach — Sellers 13s premium. Fraser Flat — Sellers 3s premium. Galtee More— Sellers £1 Is 6d. Gibb's Beach — Sellers 3s premium. Gibbston — Sellers 3d premium. Gold Queen — Buyers 5s 9d premium. Golden Beach (contributing) — Buyers £1 0s 6d premium. Golden Bed — Sellers Is 3d premium, Golden Gate — Buyers £5, sellers £5 12s. Golden Link — Sellers 6d premium. Golden Pomt — Buyers £1 15s, sellers £1 17s. Golden Reward — Sellers Is 3d premium. Golden River— Buyers Is premium. Golden Run (paid)— Sellers £2 4s. Golden Run (contributing)— Sellers £1 4s XJiernium. Golden Terrace— Sellers 17s. Grey River Consolidated — Buyers 9d, sellers Is 6d p re miuni. Halfway House — Buyers 5s 3d premium. Hartley and Riley — Buyers £7 7s 6d, sellers £7 9s. Inch Valley— Sellers £1 19s. Kia-Ora — Sellers 3d premium. Klondyke — Buyers 7s, sellers 7s 9d premium. " Macraes Flat — Buyers 7s 6d, sellers 10s. Magnetic— Buyers £3 4s 6d, sellers £3 4s 9d. Manuherikia — Buyers £1 premium. Meg and Annie — Buyers 6s 6cl premium. Mokoia — Sellers 4s premium. Monte Christo — Buyers 4s 3d, sellers 5s 3d premium. Naurnai — Sellers 3s 3d premium. Nelson Creek — Sellers 4s 6d premium. Nevis— Buyers £1 ss, sellers £1 12s. New Alexandra — Buyers 18s 3d, sellers £1 Is 6d premium. Nil Desperandum — Sellers £2 6s. Number Two Matau — Buyers 3s ljd, sellers 3s 6d premium. Olrig — Buyers Is dis< Ophir — Buyers 11s, sellers 14s. Orwell Creek— Buyers 2s 3d, sellers 4s 6d premium. Remarkables — Sellers Is premium. Richards's Beach — Buyers 6s, sellers 9s premium. Rivorbank — Buyers 9d, sellers Is 6d premium. Sailors' Bend — Buyers 9s premium. Second Magnetic — Buyers Bs, sellers 10s premium. Smith's Creek and Bannockburn — Buyers 7Ad dis., sellers 6d dis. Springvale — Sellers 4s premium. Sunlight — Buyers £1 9s, sellers £1 12s 6d. Upper Magnetic — Sellers 2s 9d premium. Upper Wnimumu — Buyers ss, sellers 2s dis. Upper AVaipori- -Buyers 2s 6d, sellers 3s 3d Waimumu— Sellers £1 8s 6d. West Matau — Sellers Is 3d premium. _** SALE OF SHARES BY AUCTION. Messrs Park, Reynolds, and Co. report the sale by auction of shares on Tuesday at the following prices: — Coal Creek, Is premium; Galvanic, 4s 6d premium. THE MACETOWN REEFS. (From Our Own Correspondent.) ARROWTOWN, October 3. The Glenrock Company washed up for the n>oi.th of September; obtaining 1290z 13dwt ISgr smelted gold from 255 tons- of stone. There is no other news from the mine. GOLDEN FALLS GOLD DREDGING COMPANY (LIMITED). The statutory general meeting cf shareholders of this company was held at the sccretiry's office (Mr H. F. M. Mercer), 14 Bond street, on Tuesday evening. A large avienclance | of shareholders was present, Mr Martin Pearce i being in the chair. Dr J. F. Hyde, Messrs i F. W. Gray (Bald Hill Flat), F. Wilkinson, J. Mackcrsey, William Brown, and G. H. M'Ewen weie apx^ointed directors, and Mr George Blyth was appointed auditor. It is proposed to work this claim with a powerful current-wheel dredge, which is expected to be l working early in May. Mr Mackorsey, who i has large experience m working this class of | dredge on the river, expresses the opinion i that a current-wheel dredge will be worked on this claim with profitable results to shareholders.

Hartley and Biley, Cromwell . . 527 5 0 Golden Beach, Alexandra (125 hours) . . . . 77 2 0 Magnetic, Cromwell (G days) . . 51 0 0 Success, Waipori (230 hours) . . 46 2 6 Tuapeka, Tuapeka Flat (120 hours) 36 10 0 Golden Gate, Island Block (6 - days) 34 12 0 Empire, Waipon 30 11 2 Molyneux Hydraulic, Alexandra 29 3 0 Golden Terrace, Lower Shotover 24 17 12 .Chatto Creek, Manuherikia (123 hours) 24 0 0 Golden Treasure, Miller's Flat.. 23 0 0 Evan's Flat, Tuapeka .. .. 22 0 0 Ophir, Blacks (117 hours) .. 21 1 0 Enterprise, Alexandra (109 hours) 19 17 15 Alpine, Cromwell 19 16 0 Matau, Clyde 19 0 0 Clyde, Alexandra 17 0 0 Waimuinu, near Gore (117 . hours) 17 0 0 Sunlight, Beaumont (137 hours) 16 3 0 Inch Valley, near Palmerston .. 16 0 0 Unity, Clyde 16 0 0 Golden Point, Alexandra (100 hours) 15 0 0 Macraes, Macraes Flat (4£ days) 9 3 0 Total 1112 3 11