THE WEEK'S MTNING NEWS.

Otago Witness, Issue 2391, 28 December 1899, Page 18

THE WEEK'S MTNING NEWS.

A special meeting of shareholders in tho Alexandra Bonanza Gold Dredging and Sluicing Company (Limited) was held at the Chambe' of Commerce Hall on the 20th inst. The chairman of directors (Mr William Brown) was unable to be present through illness, but full particulars of the company's claims and water rights were given to the meeting, and it was explained that in order to carry out the company's operations satisfactorily, including tho building of a very large dam and the enlargement of the company's race of 17 miles, it was necessary to increase the capital. A resolution empov.-ering the directors to call a special meeting of shareholders for the purpose ot effecting this waa carried unanimously. The directors of the Inch Valley Dredging Company have declared a dividend of Is per share.

The return from the Nil Desperandum dredge last week was looz, and from the Galtee More 12oz. This makes the total for the week 8690z 7dwt 7gr from 27 dredges. An Auckland telegram states that the Hauraki Associated Company crushed 9 tons for a return of gold valued at £270. The Waitekauri yielded gold valued at £525. The Maerewhenua Gold Dredging Company (Limited) has been registered and the shares allotted. Mr J. A. Law has been appointed secretary.

The directors of the Voltaic Prospecting and Dredging Company (Limited) met on Monday at the office of the secretary (Mr Tt T. Wheeler, jun.), when Mr Roberts, engineer to the company was present, and proposed a plan to prospect the claims. As Mr Roberts intends visiting the claim shortly the meeting decided to instruct him to make a thorough inspection, and prepare an estimate of the cost, which will bo fcubmitted at the next meeting of directors on the 11th of January. The prospecting for the cinnabar lode believed to exist on the Waitahuna Tanges between Berwick and Waipori, and for which search has heon made for the past 30 years 4 has at last

been carried to a successful issue, the lode having been discovered after cutting into the face a distance of 42ft, and subsequently driving a tunnel to a depth of 65ft, or a distance of 107£t in all. The lode, when first met with, varied from 3ft to a few inches, the average thickness being about 18in. Cinnabar was got after going for a distance of 81ft from the commencement of the cutting, but an important development took place on Tuesday last, when on sinking 3ft the prospectors came on a Gin lods of very solid cinnabar. A further sinking of 3ft showed the lode to be still solid. Samples of the ore have been forwarded to Mr D. Reid, jun., acting secretary for the syndicate which was formed to prospect for the lode. In view of the successful result of the operations it is intended to reconstruct the 'syndicate, and provide capital for further developing the mine. The samples sent to town will be subjected to treatment by Professor Black on his return from the north,- to ascertain the percentage of quicksilver the ore contains.

It will be remembered that some three weeks back we had to report the sinking of the Maori dredge on the Clutha. Mr W. T. Tulboys yesterday received a wire from Mr John Kitto, dredgemaster of the Magnetic dredge, as follows: — "Lifted Maori last night; pumping her out to-day." Mr Kitto's services were kindly granted by the Magnetic Company for the last fortnight. The lifting of the Maori was deemed a hopeless task, and • too much praise cannot be accorded Mr Kitto for his success.

The directors of the Golden Gate and Golden Treasure Dredging Companies have declared a dividend of 3s each per share. The directors of the Success Dredging Company have declared a dividend of 6s per share An Auckland telegram states that the New Zealand Crown mines have declared a dividend of Is per share, absorbing £10,000. The gold output for the past month totals nearly £52,000, although several companies have not yet cleaned up. lhe output from Ohinenuiri this month, although over £40,000, is not so large as usual, owing to there being no return from the WoodSiock and Waihi-Silverton mines. The year's output up to the present has already reached £637,901, which is a considerable increase upon liie yield for 1898. The separate yield 3 for this month are as follows: — Ohinemuri, £40,554; Thames, £5699; Coromandel, £5590;— total output for the month, £51,814 14s 9d. Messrs John Keid and Sons, Garrow and Stewart, and W. J. Watson, brokers for the Garibaldi Gold Dredging Company (Limited), report that the share list is now closed, the COOO shares which were offered to the public having been over-subscribed in less than a fortnight. Mr D. Leslie (Mitchell and Leslie) is interim secretary. The Dunedin Stqck Exchauge have donated a fi.rth'jr sum of 75gs to the patriotic fund, making l'OOgs in all. The Legal Manager of the Shotover Quartz Mining Company, announces that a call of 3d per share has been made on all shares in. the company, payable on Wednesday, January '0. We learn that the decision of the warden in tho Gold King Company's case is being appealed against by tho applicant for the company's claim, against whom judgment was given with costs to the company. A meeting of the shareholders of the Greenstone Dredging Company was held on Friday, when the following permanent directors were appointed:— Messrs T. R. Fisher, F. G. Cray, W. G. Somemlle, C. G. V. Leijon, W "Wright, and James Fotheringham. Mr Leslie Reynolds was appointed engineer, Mr George Blyth auditor, and Mr F. Proctor secretary. An Auckland telegram saya:— ''The return of gold for 1899 from the mines of Auckland Province total £641,150 against £531,554 last year, an increase of £109,566. For the month of December the total realised was £32,488.

A Nelson telegram says:— "The Collingwood correspondent of the Colonist telegraphs that the Parapara Sluicing Company washed up 6750 ii at Hit or Miss workings. Glengyle has not yet cleaned up. Over 700oz in all are expected. The Golden Blocks at Tai Tapu cleaned up 300oz. The Collingwood Goldnelda x (Limited) return has not transpired.

It is reported (says the Hokitika Times) that Pi party intend to go to the Pai-inga district after the holidays with the object of locating some mica deposits in that locality. Blocksof talc have been frequently met with, but the sheets were not sufficiently large to be of commercial value. It is now asserted that more* light has been thrown on the probable source of these deposits, and those concerned are hopeful of developing a profitable industry! The Paringa district constitutes a very rich mineral belt, and geologists are of opinion important discoveries of several minerals will yet be made there

Messrs Cutten Bros, have been appointed engineers for the Milestone Gold Dredging Corapacy, Nokomai (says the Mataura Ensign), md hav-j been instructed to prepare plans for a bucket dredge of a lifting capacity of 60 cubic yaids per hour, with revolving screen and elevator. Tenders v/ill be called for building the pontcons immediately after the holiday*, ard the work will be pushed on as rapidl3' as possible.

The West Australian, of 25th Novemoer. stys that the Paris Exhibition Commission has completed the purchase from the discovcr->r, Archie Clives, a prospector, of the " Bobbie Dazzler " nugget, found some two or three months ago at Maible Bar, on the Pilbarra goldiield. This is a mammoth nugget, weighing -iSToz, and estimated to contain approximately 4130z of goldIt was discovered 2ft from the surface, some yards from the spot where tha famous General Gordon nugget was unearthed. The finder carried it in his " swag '' from Marble Bar to Roeburne, a distance of some 200 miles. Clives, who is a native of Ballarat, had been prospecting in the Marble Bar district for about 11 years

Tlie State of California has produced from her placer, drift, hydraulic, and quartz mines within the past 50 years from 1848 to 1899 inclusive, the enormous sum of 1,369,492,377d0l in gold. In. IS4B the yield waa 245,301d01. For the four succeeding years the increase in production of the precious metal in the State astonished the world. The gold output in 1849 amounted to 10,151,360d01, m 1850 to 41,273,106 dol, in 1851 to 75,938,232d01, and in 1852 to 81,294,700d01, and the quartz mines of the State which are now pouring out millions annually were not yot opened. Though the yearly output gradually decreased after that, the yield never fell below 40,000,000d0l until 1862, when tho returns from the mine 3 amounted to 33,854,668d01. The decline continued, however, with a few exceptionally good years, until in 1893 the gold production fell to 12,422,811d01. Since the rich ledges along the Mother Lode have been adding their quota, to the annual yield the yearly output has been scraduaJUy iu-

creasing, though, owing to the annual drought for the past two years, the gold production has fallen off slightly. The prospects for the present year are very encouraging, and it is probable that the 20,000,000d0l mark will bo passed in 1899. There is more activity in mining in California at present than for many years. Investors have discovered that deep mining is profitable in this State, and capital is pouring jn to develop the great mineral region", which ""is yet in ' a comparatively uaexploited state. — American paper.