THE WEEK'S MINING NEWS.

Otago Witness, Issue 2397, 8 February 1900, Page 20

THE WEEK'S MINING NEWS.

The statement of affairs of the Shotover Quartz Mining Company shows the nominal capital of the,company to be £6000. The sum •of £2500 has actually been paid up in cash, and the value of the scrip given to shareholders on which no cash has been paid is £1500. The capital is divided into 24,000 shares, on which 3s 4d per share has been paid up. There are 32 shareholders in the company, which employs seven men. The amount expended in carrying on mining operations during the past year was £1259 5s Id, and the total expenditure since the registration of the company in March, 1893, came to £2368 Os Id. There has been no gold produced since registration. The Golden Terrace Dredging Company (Limited) was registered in December, 1897. It Ihas a nominal capital of £5000, and £3750 has actually been paid up in cash. There are 69 shareholders in the*company, which employs 19 men. During the past year 10920z 6dwt 14gr of gold, of the value of £4140 17s 3d, was produced from'the claim, the total production since registration being 24360z 13dwt 9gr, of the value of £9313 0s Bd. The sum of £4122 16s Id has been spent in carrying on mining operations during the year, the total expenditure Bince registration amounting to £8598 ]2s sd. The sum of 15s per share has been paid up, and £1000 has been paid in dividends. In the Daily Times of the 21st will be found the' prospectus of the Stillwater Creek Gold Dredging Company (Limited), which is being formed to dredge 128 acres of auriieKms colintry sittiated in the bed of the Stillwater Creek, a tributary and gold-feeder of the Grey Hiver, West Coast. This property was secured by Mr George Sievwright when he recently visited the Coast. The Government official returns show that the Coast has already produced over £28,000,000 of gold, and, with the advent of dredging, it is reasonably anticipated that in the future the Coast will again produce large quantities of the precious metal. The brokers of the company are Messrs Sievwright Bros, and Co., the consulting engineers are Messrs Cutten Bros., and Mr D. Larnach is the interim secretary. The brokers report that a iarge number of shares have already been applied for, and in order that an allotment be secured immediate application is necessary. JPull allotment will be made to all applications accepted by the brokers. The directors of the Inch "Valley Gold Dredging Company have declared a dividend (the third) of Is per share. The directors of the Lyell Tharsis Mining Company (No Liability) have declaied a dividend (the third) of Is per share, payable on February 26. The abridged prospectus of the Saltwater Creek Gold Dredging Co. (Limited) is advertised in the Daily Times. The claim comprises about 90 acres, and adjoins the well-known Leviathan claim. The bickers are Messrs Harman Reeves and Co. The directors of the Enterprise Gold Dredging Company in, their annual report congratulate shaieliolders on the successful working of the dredge during the year, which has proved a. record one for tho company, the board having been able to pay in dividends £1 per share, >n amount equal to the whole paid-up capital >f the company. The cold won from the river

was BG3oz 6dwt 13gr, which realised £3324 4s lid. The directors legret that Mr Luke, the diedgemaster resigned his position at the end of the year owing to private business requiring his attention in England. Mr J. L. Ryan, who has been on the dredge since she commenced working, has been appointed in his place. The board deeply regret the death of Mr T. M. Wilkinson, who was one of the earliest shareholders and a director of the company for some years. The directors of the Alpine Gold Dredging Company, in their first annual report, state that on the Ist July, 1898, the company entered intD a contract with the Riley's Beach Company to work their claim !on tribute for five years. The return of gold earned by the dredge up to 31st December, 1899, reached the sum of .£10,748 sterling. The dredgemaster reports that he has worked about 400 yds of the claim, leaving 1360 yds yet unworked, the claim being originally one mile in length. The directors have every reason to believe the company have a profitable future ahead of them. On the Q7th July, 1899, the company was registered under the 1894 Act. The dredge is under the management of Mr John Dewar, a master of 30 years' experience, who reports the dredge to be* well found, and machinery in excellent working oider. The whole of the directors retire at this meeting, and offer themselves for re-election. The .statement of affairs of the Alpine Gold Dredging Company shows that the nominal capital is £6000, in £1 shares, of which £3500 was paid up in cash. The value of gold obtained last year was £4776, and since registration in July last £1319 14s. The total expenditure during last year was £1037. The amount i>aid in dividends was £600. The first general meeting of the Teviot Gold Dredging Company (Limited) was held at the office of the secretary, Mr T. J. M'Kerrow (Hamilton and M'Keirow), on Tuesday, 30th January. Messrs D. J. Bews, Robert Brownlie, John Mill, Hugh Adam, and George Hemingway were elected the Dunedin and Mr D. Cormack the Roxburgh, directors for the ensuing year. Mr Wilfrid Vivian was appointed auditor. The directors met yesterday evening, and instructed the engineer, Mr W. H. Cutten, to accept the offer of Messrs J. Sparrow and Sons for the construction of the company's dredge; time for delivery, 11 months. Shareholders will doubtless be satisfied with such expedition obtained by the directors. Messrs Harman Reeves and Co. report that the Saltwater Creek Gold Dredging Company has been largely over-subscribed. Samples of gold from the claim may be seen in Mr Jacobs' s window. Mr T. M'Cracken and Mr H. S. Valentine insert in the Daily Times a notice of the Moke Creek Gold Dredging Company (Limited). The capital is to be £8000 — 6000 shares to be offered to the public, the vendors to get 2000 fully paid up. The claim is situated on the Shotover, above the Prince Arthur, and is splendidly reported upon. Applications for 1000 shares were placed in the brokers' hands, together with the option for flotation. The prospectuses will be placed in the printer's hands this morning, and copiei of same may be obtained upon application to the brokers. The brokers for the Prince Arthur Dredging Company, Mr H. S. Valentine and Mr Thomas M'Cracken, find, now that the full returns have come in from the country districts, that the number of shares apiilied for total over 10j000 — more than 4000 shares over-subscribed. Tbe j>relimmary advertisement of the Criffel Lead Gold Dredging Company appears in tLe Daily Times of the Ist. J. J. Ramsay and Co. are tho brokers. This claim adjoins the Cardrona Valley, and is well repotred on. Shares in Cardrona claims are all at premiums ]ust now. The Champion Gold Mining Company (Limited) obtained. IGoz sdwt 12gr of gold for part of last week's elevating. In Friday's Daily Times J. J. Ramgay and Co. publish the prospectus, of the Ciift'el Lead, a clpim in the Cardrona district adjoining the Cardrona Valley claim. Amongst other reports is one from Mi Kyle, who lccently paid a visit to Cardrona. Mr Kyle is so satisfied with his inspection that he has applied for 250 shares, and a wire has been received fiom Invercargill that -500 have been placed there, whilst 1000 were applied for on Thursday by country agei-ts. Harman Reeves and Co. announce in Friday's Daily Times that the prospectus of the North Beach Gold Dredging Company (Limited) will be issued in a few days. The reports are by Mr Wm. Faithful, Mr Cowan (Buller Dredge), Mr Bishop, M.1.M.E., and others. About 3000 shaies are already bespoken, leaving 3000 still ox^en for application. Shares may now be reserved on application to the brokers. At a meeting of the directors of the Orwell Creek Gold' Dredging Company (Limited) on Thursday tenders for machinery, etc., were considered, and the tender of the Duncdm Foundry accepted, delivery to be made in 10 months. The contractors for the pontoons will make a stint during this month, nearly all the timber being cut and ready on the claim. It is proposed to build the diedge right on top of the rich lead wheic Ericksoii and party were flooded out. Messrs Mnpr.us Bros, and Worry report the successful flotation of the 3000 shares of the Saltwater Cieek Gold Dredging Company placed in their hands for disposal in Otago. Mr E. Roberta, engineer, reports that the cortiacts for machinery for the Excelsior Dredging Comnany have been placed with the Dunedin Foundry Company (Limited). The voa-

toon for the Golden Run dredge was launched on Thursday at Miller's Flat. j The pieliminary notice of the Day Dawn ■ Gold Dredging Company apears in Friday's Daily Times. The claim adjoins that of the Nugget Company, Upper Waikaia. The piotpectus may be obtained from Messrs W. L. Hooper and" J. F. Harper. The Equitable Stocl> Exchange met 111 the Colonial Bank Buildings, Water street, 011 Thursday forenoon, and finally decided iipon its scale of brokerage charges ior mining shares, which are as follows: — Minimum charge upon any transaction, as; biokeiage commission upon shares sold up to Bd, id; 9d to 2s, Id; 2s to 4s, lid; 4s to 7s 6d, 2d; 7s Gd to 10s, 24d; 10s to 15s, 3d; 15s to 20s>, 3M ; 20s to 30s, id; 30s and upwards, 1 per cent. Buyers pay stamp duty and transfer fee. Shares other than naif ing, 2 pel cent. Debentures, 1 per cent. A special meeting of shareholders of the Alexandra Bonanza Gold Dredging and Sluicing Company (Limited) was held at the Agricultural Hall on Monday, when shareholders present and by proxy, representing 4895 shares, unanimously confirmed the resolution to increase the capital of the company to £30,000 by the creation of 15,000 additional shares of £1 each, of which 12,000 are to be issued forthwith, and 3000 held in reserve. The new issue after application and allotment will be called at tne easy rate of Is per month. One shareholder, repesenting himself and two others, lodged an application for 2500 shares of the new issue. Jn view of this application the directors have decided that shareholdeis may, in addition to the shares to which they aie entitled, apply for any number they may wish, and the excess will be dealt with after the pro rata allotment. A file, causing some damage to the deck and hull, but leaving thn machinery uninjured, broke out on the Chotto Creek dredge early on Sunday morning. We understand the company is insured, bin particulars are not yet available. The s bridged prospectus of the Golden Cradle Dredging Company appears in Monday's Otago Daily Times. The capital is £10,000, in £1 shares, of which .8300 are offered to the public. Reports, which are appended to the prospectus, are of a favourable nature. Already 5000 shares are bespoken. Messrs Harman Reeves and Co. are the Dunedm brokers. The prospectus of the Ross Flat Dredging Company appears in the Daily Times of Monday last. Reports from a number of practical miners, attached to the prospectus, are ol a favourable nature. The Dunedm brokers are Messrs Cogan and Crawford, and Messrs Harman Reeves and Co. The secretary of the First Taieri Gold Dredging Company (Limited) informs us that the consulting engineer -(Mr G. M. Barr) has just returned from a visit to the claim, and has selected a site for the construction of the dredge possessing favourable features of good river frontage, and in close contiguity to where the spoon apparatus gave very good results. Mr Bar>- also found that the contractors for the removal of the dredge are making good progress with the work, and are likely to have thejr undertaking completed within five or six weeks. The brokers of the Stillwater Creek Gold Dredging Company, Limited (Messrs Sievwright Bros, and Co.) report that only about 1000 shares remain available for application. Irtending investors are therefore recommended to apply at once. The pontoons for the Golden Run Company's new dredge were launched on the Ist inst. They are the largest that have ever been built on the Molyneux, and Messrs Knewstubb Bros., the coi tractors, are confident they are the best they have ever built. The machinery is well forward, and some of it is on the ground ready to be put on the diedge. The engine is one of Marshall's, and is of 20 horse-power,, the largest yet used foi dredging. The Engineering Company have the balance of the machineiy well in hand, and it is expected the dredge will be at work about April. When complete it is expected to be one of the best equipped on the river. Mr E. Roberts is the coinnany's engineer. At a meeting of the provisional directors of the Golden Gutter Dredging Company (Limited), held at Mr D. G. Davidson's office on Saturday afternoon, the 7000 contributing shares were allotted. The company being 4925 shares over-subscribed necessitated heavy pruning. Mr Harry Shrimpton, 14 High street, was appointed the company's secretary. The date of the statutory meeting was fixed. The Hartley and Riley Beach Dredging Company washed up on Friday for a return of 68oz 7dwt of gold for a week's dredging. The yield from the Deep Stream Company's claim for the month of January was 540z 12dwt. The manager reports that he commenced work on the Bth January, and has been a good deal hampered during the month through having to shift a good deal of top stuff — the stripping in one paddock being over 20ft. There was also a shortness of water 011 several occasions during the month, necessitating the stoppage of one elevator. The Roxbuigh Amalgamated Mining and Slluicing Company report that the return of gold for the lnoath of January is 86oz 3dwt 21gr. A meeting of the provisional directors of the Horowai Dredging Company was held at the registered o.ffice, 3 Bond street, Dunedm, on Friday, at which shares were allotted. The applications were in excess of the reqviired number, and those present spoke of the properly as having a good future. Mr Sidney T. Mirams is the secretary. The Golden Horseshoe Company have arranged with Mr F. R. Manning for "the supply of a Marshall 20 horse-power compound independent fixed engine of the most approved pattern for their dredge. The engine is to be cabled for at once, and will be heic in good time, A fine specimen of gold was brought to tho surface last week by the Ettrick dredge (saya the Mount Eenger Mail), in the shape of a nugget of quartz, the weight of gold therein being reckoned at ldwt. Messrs Cogan and Crawford and Messrs Harli'an Reeves and Co. announce that the prospectus o£ the Tloss Flat Dredging Company was issued on Monday. The capital of the company is to bo -CIO,OOO. The claim is close tj the township of Ross, and adjoins the Ross United and Prince of Wales Companies' claims. The brokers state that early application is necesssiy. Messrs Sievwright Bros, and Co., brokers <1l the Stillwater Gold Dredging Company leport that applications for shares are coming in rapidly. Five hundred and fifty were sold in one lot in Alexandra South on Fiiday, and, at the inacnt reauest fif the brokers there.

a further 400 were reserved. Provided the Greymouth returns are in by Tuesday, it is anticipated there will be considerable overI subscription, but shares will be allotted strictly | in order of priority of application. Sampler oi i gold fiom Still water Creek can be seen in the window of Mr Jacobs, tobacconist. The fiist general meeting of the Wet Lead Gold Dredging Company was held m the boaid j room of the Dunedm Stock Exchange on Frii day night. About 70 shareholders were ' piesent, Mr J. Maciie occupying the chair. The following were appointed , the directorate: — Messrs James Mp.cfic, Alexander Duncan, Henry Stakes, John ! Melville, and Thomas Stevenson. Sixty guineas { was fixed as the amoiint of directors' fees, j distributed over the whole. Mr John K. Macfie I wag appointed secretary, and Mr Wm. Brown j auditor. It was decided to place the company on the Stock Exchange list. The Chahman, v. ' lef erring to the value of the clsiai, said that he ' wa-5 in possession of expeit testimony as to the ' diedgeable nature of the ground in the vicinity of the company's claim, and from this it was, | gathered that there weie 110 difficulties in the I way of constructing a dredge that would cope I with the mateiial to be treated. A general mepting of the Tacon's Cardiona Gold Dredging Company -was held at the Agri- ' cultural Hall Buildings 011 Friday night m order that the directors might make , a report to the shareholders regard- | ing the arrangements that had been made for the construction of a dredge and the stage that the work had reached. Mr G. L.^Tacon, who was in the chair, stated that within a week of their appointment' last October the directors had entered into a contract with Messrs Morgan Cable, and Co. for the placing of a dredge m conrplete working ! order upon the claim within eight months, and that the work was &o well advanced as to ensure the commencement of active operations by the end of June next; also that the subscribed capital would be sufficient to provide for the cost of the. dredge, and for all other expenses _up to that time. A good deal of general information concerning the company was given by the chairman, after which those piesent expressed their appreciation of the satisfactory report submitted to them. The brokers (J. J. Ramsay and Co.) of the Criffel Lead report that the lists are closed largely over-subscribed. Messrs H. F. Nees and Co. report that they have received word from Mr A. J. Nees that he has finished the contract for building pontoons to the order of Messrs Joseph Sparrow and Co. for the Ngapara o. 3 Gold Dredging Company, Nevis. Some of Messrs Sparrow and Co 's men are at the Nevis to erect the machiI nery, and the dredge is expected to be in I running order shortly. I Shotover Quartz Mining Company (No Lia- | bility.— Mr S. E. Brent supplies the following extract from the mine manager's report: " Machine level : Formation still much d'isI turbed but carrying a lot of quartz leaders on lootwall side; extended sft for week, makin<* S total length 941 ft. Stoping at 750 ft. extended ?f f t f orweek; stone varied in thickness from ltfc to 3ft. Took out 10 tons, making a total of 36 tons. Crushing one shift." An Auckland telegram states that a cable has been received from London to the effect 1 that the amalgamation of the Talisman ConiI pany and Talisman Extended has been earned The new company will be called the Talisman Consolidated, and will have a capital of f300.000f 300.000 The Talisman shareholders 1 receive ' ™,' OO i! ?. hares ' ? nd a dividend of 7J per cent. J-iie .talisman Extended receive 90,000 shares, j and subscribe for a further 25,000 at par There 1 are 35,000 shares reserved. j Those who have reserved shares in the Goli den Butteifly Dredging Company are requested j to send m their applications immediately, as , the share list is over-subscribed, and the i shares will be allotted according to priority ] of application. j Messrs Park, Reynolds, and Co. report the 1 following share quotations at their open exchange on Friday:— Alpine 2, 14s. buyers; . Beaumont Lead, Is 6d, sellers; Bendigo, 14s sellers; Boundary Creek, 6s, buyers; Clyde £3 2s Gd, buyers; Central Charlton, Is Gd, buyers — 2s, sellers ; Excelsior, 4s, buyers • Evans Flat, 345, sellers; Golden Roxburgh, Gd, buyers— Is. sellers; Golden Molyneux, 4s 6d, sellers; Golden Horseshoe, 4s, sellers; Golden Elbow, 4s Gd, buyers— ss, sellers; Golden Terrace, Bs, buyprs — JOs, sellers; Gold King, Bs>. , buyers— 8s 9d, sellers; Gentle Annie, 9s, buyers ; Grey River Consolidated, 2s 6d, buyers j —3s, sellers; Owell Creek, 3s 3d, sellers; Ophir, 3s Gd, sellers ; Roxburgh Lead, 2s Gd, sellers. The Gold Star Dredging Company will be placed on the market this week. ' The claim consists of some 50 acres at Island Block, with about half a mile of Molyneux River frontage. The capital is £10,000, in £1 shares, 2000 of which go to the vendors, the balance to the public. Of the contributing shares 4000 are reserved for Dunedin, and may be obtained on application to Mr D. G. Davidson, Colonial Bank Buildings, who is the town broker. It may be here mentioned that already shares ore bespoken in Dunedm, and in Roxburgh 4000 have been applied for, besides 3000 in Alexandra and Clyde. The prospectus will be I issued before the end of the week. I The statutory meeting of the Prince Albert Gold Dredging Company (Limited) was held in the secretary's office, Exchange Court, on Monday afternoon, Mr J. H. Hancock in the chair. The number of directors was fixed at live, and the remuneration as GOgs. Messrs J. H. Hancock, H. J. Gill, J. Watson, J. A. D. Adams, and R. Marks were elected directors. Mr David Leslie was appointed auditor. It was stated that the day following the allotment of shares a parcel was sold at ninepence premium, and that an old and experienced miner from the district in which the claim is situated had stated he had a very j high opinion of the claim. . Mr G. M. Barr, C.E., invites tenders in ; Tuesday's Daily Times for the supply of j nearly two miles malleable iron pipes, to be 1 in the Maruwenua district. The=e aie 'intended- to be laid in connection with the Mountain Hxxi race, which has been under construction for some years by a syndicate, its purpose being to carry the water from the creek of that name through a pretty difficult country, and to deliver it upon the auriferous slopes of the Maruwenua watershed, at an elevation considerably above any race already constructed. The total length of run aheady constructed is about 20 miles, and the plseing of these pipes is £>ll that is required io complete %he supply of water to an extensive area of ground which h:>s been thoroughly tested, ' and has given highly satisfactoiy leturns. ! A WaiLaka cone&pondenl v/iite3 fta follew^ ta

the Tuapeka Times : All the dredges are won, ing steadily and giving very satisfactory returns, averaging about 20oz a week. Perry's diedge was stopped for a general overhaul last week, but is now going again. Tho llecord Reign dredge, which started a short time ago, is turning oyerta lot oi ground, a; id the returns are satisfactory. O.i tills dredge last \rcc- 1 ; a, ]tir-f .pi -lv-ir <"■■ „-.}■ lo girth came up in the buckets, Ibbotson and p.u .V '- ...l la ..„. ._ „_ ..^l v , .. o -.-ag Fiitioiactoiy returns. The Little Waikaha, better known as M'Gill and party's, is also working. Some of the shares 111 this dredge have been changing hands lately, as much as £650 being given for one-sixth interest. This shows the confidence m dredging as an investment in Waikaka. 'ill ere has been another claim iust floated here. When all the dredges are at work they will number about 30. The largest portion of the Endeavour dredge, which was purchased by a local company and brought over by Mr Stevenson's traction engine, is now on the giound, and it is expected will be afc work in the course of about eight weeks. Prospecting on the Manorburn Lead claim is turning out veiy satisfactory, good prospects being obtained in all the boies put down. Some loads of top stuff on being put .through the cradle showed veiy payable results. There is every indication of this claim turning out very nch. The following items of mining news appear in the Mount Benger Mai] ,of February 2:« Opinions are expressed that the Island Block Company's propeity, which was recently disposed oi, was a bargain to the purchasers. The place of the company's operations, an old river bed some miles in extent, is legarded as a splendid field for dredging,, and if the opinions of those who ought to know are to be taken into consideration, puichascrs of the Island Block Company's rights should leap a rich halves*. TII3 gieat success which attended the operation of dredging tlnoughout Miller's Flat veiy naturally leads to the'coiiclusion that in such a likely spot as the old river bed at Island Block langible results should be oblainsd by di edging.— We are informed that Mr J. Rconey, of Roxburgh, has just pegged off threaclaims on the Lillburn River, a tubutary of th© Waiau, for three different Roxburgh parties. The area of each is 70 acres, and the width of th" river bed there is about two chains. It includes one chain of mining reserve on either side the river. The wash over all is of a coarse formation of from 32ft to 20ft. Years ago tho highei ground and basin there were worked -wiibj good lesults. The bank-top wash, as just t>rospected, showed a great line of fine gold round? the dish. The bed of the Lillburn consists of soft, blue papa, and is therefore just about the most favourable that could be found for dredging. At about 15 miles distant an endless supply of coal can be had, and the way to the first railway station, distant about 26 miios, is traversed by an excellent road. It may ba here mentioned that the Belmont dredge is working about 14 miles from there, and its partial failure may be put forward as a contention against the ground Mr Rooney has staked! off .But as" Is well known, it is the dredge itself that is at fault, the plain truth being, that the suction principle is not at all suitable ion this or for almost any other New Zealand riverEven the least experienced can see that the pipe through which the, stuff is drawn, being only, 12in in diameter, can do nothing whatever with) large stones that so frequently cover the gold here and io, most New Zealand rivers. She has simply failed to touch the real bottom, and' her experience can offer no criterion of a district well known to be highly auriferous. Tha aieas just pegged out will now be thoroughly prospected by experienced hands, and should) the results be as satisfactory as the promoters anticipate, the properties will be floated inta companies forthwith and laid upon the market. — We had the pleasure of witnessing a, magnificent sumple of very course gold taken from' Campbell's Flat the other day in two dishfuls of stuff. The gold is like small peas, and ;hera is a lot of it, and very little of that sort of return would make Campbell's Flat an El Dorado* The sample is in the hands of Messrs Mason, and Co.,* who -will place the claim upon- tha market at once. — The Molyneux opposite Ettrick Domain, and all that engaging piece of river, on to Miller's Flat, may be reckoned the birthplace of the dredging industry not of this district only, but of the world probably. The' well-known names of Messrs Brazil, Aitken,. etc., are still very fresh in the memory and the woi'ders they did in the bed of the Molyneus with the primitive wheel dredge, which.as everyone knows, could touch only particular parts of the river, and these in a veiy superficial way. We know what was then done, and' what a shining mark these precursors of a. gieat industry made of it. With the increasing perfection of splendid appliances; that signalises the present era, the mind perforce indulges the strong hope that these being brought to bear upon the rich deposits there, will render such an account as would take the breath from -a Croesus. Example of the wealth* stowed away in this gigantic natural sluice-box was afforded to us by Mr Burton on Monday, who had in his possession a very fine specimen. o£ gold brought to the surface by the Ettrick dredge last week. It is of irregular shape, and; about equal in size to the stuff in a big marble. A splendid sample of gold attached to Lhe quartz is seen, the weight of the gold therein being reckoned at ldwt. The weight of tho jsiece forbids the thought that it can have travelled, and if such a reasonable view of it is taken, then we are at once confronted by the pleasing and encouraging conjecture that the quartz; must have come from a re#f in the neighbourhood. The fact of its being water worn is nothing against the theory that it must be the product of a reef close at hand, because stick a nugget as this might have swilled about in a> rock cup for ages, without moving a yard. The river, too, being comparatively slow here, goes to support the view that the Ettrick Domain, or somewhere near it, holds still a wealth yet to be solved. The whole of the Domain is taken up, and while a really good thing is assured the groundholders generally, great surprise need not be manifested should' something " beyond the dreams of avarice " be there unfolded. We wish everyone the best of fortune down in that enviable patch, which, in other words, means still another big forward movement affecting for good the district of Teviot. The nugget referred to is in the hands Of Mr Bui ton, who will be glad to show it to anyone interested. The Premier," or Glenrock, mine is still on payable stone, though the lode is at present very narrow Hopes are entertained, however, ■vuites the Arrow River correspondent of the Wakatipu Mail, that it will soon widen out, as all the reefs in Macetown are what are teimed block reefs, vaiying in width from lft to 4ft or sft. When a reef pinches out for a. dozen yards or so it invariably widens again. The cyanide process of extracting the gold from the tailings which would otherwise be lost is a pieat success, a nice cake of gold having been lecovered from the Glenrock tailing.? by that

process. There must be hundreds, perhaps thousands, of ounces of gold now lying in the Twelve-mile Creek, lost by the various batteries for 20 years previous to the cyanide process. The thousands of tons of stone crushed by the Tip, the Premier, the Maryborough, the Gladstone, the All Nations, and half-a-dozen iother mines must stilt contain a large amount .of their original gold. Messrs Sligo Bros, report the successful flotation of the Trafalgar Gold Dredging Company, the prospectus of which is published in Tuesday's Daily 'Times. This claim is one of the Zealandia Syndicate's properties, and has been well reported on by both of the syndicate experts (Messrs J. Don and N. K. Sligo). All those who have had shares reserved for them are requested "to send in their applications at once to secure allotment. Messrs J. J. Ramsay and Co. and Brent and OBrent announce that the prospectus of Macalister's Cardrona claim will shortly be issued. This claim adjoins Tacon's Cardrona, and was bored recently, good results being obtained. One thousand shares are reserved for Oamaru. At a meeting of the directors of the Paul's Beach Gold Dredging Company (Limited), held on Monday night, Mr Roberts, the company's engineer, submitted the" plans, which , showed that the dredge, when built, will be one of the largest and most up-to-date machines on the Molyneux. She will dredge to a depth of 48ft, the ladder will be 66ft in length, and the screen is 23ft. The tenders for the machinery will be called for forthwith. The brokers, Messrs Cogan and Crawford, Teport that the share list of the Ross Flat Dredging Company has been closed, there being an over-subscription of about .1000. At a well-Attended meeting of shareholders in the Grey .Duck Dredging Company, held on Monday evening, After hearing the report ~of Mr Roberts (the engineer) on the boring operations, and other reports, it "was unanimously decided to" proceed at once with the construction of a dredge to work the claim. We are -requested to draw the attention of investors in dredging stock to an announcement made in our advertising columns by the directors of the Zealandia Syndicate re the buried timber and black sand difficulty on the West Coast. These two problem's have been exercising the ingennity of our engineers and inventors for some considerable time, but up to the present no practicable solution" of either difficulty has been a proved success. The Kawarau Bridge Gold Diedging Company report having acquired an acre of the Kawarau River between their claim and the Eclipse claim, and immediately adjoining the ground which the Eclipse Company proved by boring to contain good gold prospects, and bottomed at about 40ft. Tne prospectus of the Moke Creek Dredging Company appears in Tuesday's Otago Daily Times. The claim is on the Upper Shotover River, adjacent to that of the Prince Arthur Gold Dredging Company, and the . capital is £8000, in shares of £1 each, 6000 being available for public subscription. Messrs Thomas M'Cracken and H. S. Valentine are the iJunedin-brokers. The brokers for the Rise and Shine Gold Dredging Company "announce that the share list is" now closed. Messrs Skeet and Harper, brokers, report the successful flotation of the Globe Dredging Company, the required number of shares having been over-subscribed. At-a meeting of the provisional directors, held on Monday, the allotment was made, and Mr G. B. Watson was appointed secretary.