Notes from Reefton.

Otago Witness, Issue 2397, 8 February 1900, Page 22

Notes from Reefton.

(From Our Own Correspondent.)

KEEFTON, February 5. Latest quotations: — Alpine Extended, 2s to 2s 6d- Bi°- River, 6s 6d to 7s; Cumberland .Extended, 3d to 6d ; Keep-it-Dark, 25s 6d to 26s 6d ; Progress Mines, '30s to 32s ; Welcome, Is 3d to Is 6d; Cro2£us (Paparoa), 3s 6d to 4s ; Humphries' iGully, 7s 6d to 83. -, Dredging Com- ■* panies.— Buller Dredge, 13s 6d to 14s 6d ; Buller Junction (contributing), 7s 6d to 7a 9d; Consolidated Dredge, 12s Gd to 13s 6d; Grey River Dredge (vendors), 18s 6d to 10s 6d; Mokoia (contributing) 13s to 14s, (vendors') 16s to 17s; Pactolus, 7s to 7s 6d. Investment Companies. — Reefton Electric Light, Is 6d to Is 9d ; Grey Gas Company, 160s to 1655; Hokitika Gas Company, 100s to 103s. Returns. — ConsoHdated Dredge, 270z ldwt 6gr of gold for 113 hours. Keep-it-Dark: The returns for the month are as follows: — Battery, 2070z 4dwt retorted gold from 861 tons; "fey the cyanide process, 940z 15dwt 15gr gold from 650 tons tailings. Notes from LyclJ. (FaoM Oub Own Correspondent.) "■ LYELL, February 3. Alpine. — The Manager reports: The No. 7 level has now been redriven for a total distance of 90ft. The ground is very loose, and we have not yet reached the end of the old drive. Stoping has been continued above this level on a. reef about 18in wide, and of payable quality. Stoping is still- progressing above the north extension of No. 11 level, the reef being from 3ft to sft wide. Work is also being continued in the stopes above the intermediate, between Nos. 10 and 11 levels. The reef is from lft to 18in in width. A crosscut has been put into the footwall at the bottom of the winze in the north end of No. 11 level for a distance of 16ft, ■when the hard country rock was met, and a start is now being made to drive a stope north about 30ft down the winze, where there are at present about 6ft of stone. A winze has been Bunk in the south end of "No. 10 level for a depth of Bft. The whole width of the reef has been taken out, its size varyingfrom 7ft to 9il, and it is 01 payable quarts The quantity of etone sent to the 'battery is 100 tons. EXPORT OF GOLD. WELLINGTON, February 2.— The gold exported from the colony for January was: — Oz. Value. Auckland 14 372 £55,464 Westport ' 691 2.765 Greymouth .. .. 7,061 28,047 Hokitika 1,593 6,071 Dunedin 12,789 51,710 Invercargill .. .. 1,783 >■ 7,132 Total 38,289 £151,169 For corresponding month of last year 33,2490z, of the value of £130,207, were exported. «~ The quantity of silver exported last month ■was 13,8650z, of the value of £1608, against 20,7530z, of the vahie of £2448, for January, 1899. The whole came from the Auckland miles. THE WEST COAST OF THIS ISLAND AS A DREDGING FIELD. TO THE EDITOB. Sir, — A great deal of interest is at the present time being taken as to the prospects of tha West Coast proving a permanent and payable field for dredtjing operations, and a mimbe"" of ventures are now in the market, all promising a more or less successful future, principally the former. Taking into consideration 1 the fact that it is stated £28,000,000 worth of gold has already been recovered on the West Coast, and that this result has been obtained principally by hand labour and crude appliances, it is only reasonable to suppose that with the assistance of the modern up-to-date dredge deeper ground and richer deposits than any yet worked will be made to yield up their golden, contents to enterprising workers and ■will richly repay all the outlay involved. It is unreasonable to assume that the gold aheady won on the Coast has exhausted the natural wealth of that district. On the contrary, it stands to reason that as the country adjacent to the streams and the beaches has proved so rich in the past, the only rational conclusion to be arrived at is that these streams and beaches, which have been the natural sluice areas of this rich country for thousands of years, will piove exceptionally rich in the king of metals. When one or two of the modern up-to-date dredges get a start on the Coast I venture to predict that the results will be welcome to those who have backed their opinions by venturing, and will effectively set back those croakers who, for private reasons, are now running down the Coast as a field for dredging operations. — I am, etc., W. H. GOLDEN TERRACE DREDGING COMPANY. TO THE EDITOB. sir, — Having noticed that" you allow an occasional growl from shareholders about the methods of some of the dredging companies, and that they have not been altogether without effect, will you permit me to utter one with lespect to this company. About eight months ago I read that one of the dredges was " woiking" its way " towards the lower end of the claim, where some rich ground was supposed to

I exist; but as the returns have not improved, I presume that the boat has not yet reached its happy destination. Now, why on earth '•hould it "work its way" thither? Surely it can be floated to the spot at once, without wasting so many months over the job. During these eight months the dredges have done no good whatever for the shareholdeis. We are simply paying wages and wearing out the machinery, and ai this late of going on we shall lose the assets vhich we possess in the two dredges, and bs ' left with notlrug but worn-out hulks. If there is any good gicund m the claim, lot it be dealt v.-ith at once in a sensible manner, and if there is none, sell the dredges while there is still some value in them. — I am, etc., Weary Shareholder. DREDGING AND THE PRESENT PREMIUMS ON DREDGING SHARES. j TO TJIE EDITOR. | Sic, — Since the beginning of the year a regular " boom " has set in, totally unwarranted, j and which, if continued, will mo3t surely , land many confiding people m ai regular n.ucidle as regards their finances. , These same booms have at periodical times set in, in diffeient parts of the colonies, and always with the same result— the public get " left." With ' j your kind permission, Sir, I will endeavour to I placa my knowledge, gained by personal ob- j serration, before your readers. I have been ; nearly four months in the country, and have | personally inspected nearly every claim, with the exception of those in the Gore district. Starting with the Shotover, we have the Golden Terrace working dredges, just about paying expenses; shares below par value. ! -Lower down, on the Kawarau, come the HorseI shoe Bend, Golden Vein, and Kia-Ora claims. ■ | The two latter, I believe, were successfully bored under the personal supervision of a gen- ' tleman well known in mining circles in Dunedin, and have been found to show good enough ' I prospects to justify putting on dredges ; shares about par. A mile lower down comes the Mor- ■ yen Ferry and the Arrow" 'Junction, both very rocky claims, and hard to get at. Arrow June- j tions are at 8s premium, Morven Ferry at Is. , Now, why this discrepancy? If one is Bs, why is the other not the same? If Kia-Oras, etc., are only worth par, why are Arrow Junctions ! so high? Lower down, the Kawarau Bridge, a very rocky gorge claim, is at 3s premium". Why' is this? No dredge is on, and no pontoons are even started ; but if these claims are intrinsically worth their market value, why are Kawarau Consoli'dateds not the same? Certainly both claims arc equally good-looking, or badlooking, just as one's views incline. Lower down still are the Eclipse, Metallic, Galvanic, and Merrimac. The Eclipse is very rocky, and its success is only a " toss up," The Metallic and Galvanic are next to each other ; the forruer is at 3s and the latter at 7s premium. Why? Surely one is as good as the other, and both dredges are about as far advanced as regards their pontoons. Surely, as both capitals are equal, they should be at the same price, more especially as they join each other. Now for a peculiar case. The Merrimac and Gibbston claims adjoin each other. The Gibbston was bored and adversely commented upon — j result, shares below par; but the Merrimac is at 10s premium. Now, m the name of all good- ' ness, where comes in the difference? If the Gibbston is no good, then the Merrimac is equally so; but if the Merrimac is at 10s, why i should the Gibbston be at par? The Merrimac ' was not bored, and looks exactly like the Gibbston. Lower down still are the Junction, Meg and Annie, Gentle Annie, and Upper Magnetic , claims. A dredge worked ' on the Junction ' claim, which turned out a failure. Of course, the old story of the "dredge being "'too small" > is raked up; but I have it on excellent authority that she was good for 32ft. The -dredge is at present on the claim, and looks a good, serviceable boat, and her size is by no means small. People can see this for themselves. Why are Gentle Annies and Meg and Annies so high in the market? They are pure_ gambles ; they have never been tried, and as regards what their dredges will get, it is only a matter of . guess or surmise. The Upper Magnetic is an" extremely rooky claim, and the test of dredging this particular claim will come when the dredge starts work ; meanwhile the shares stand at 12s premium. Her chances of success are only based on reports"that '" 30 years ago " ex- "* cellent gold was obtained on the flats above the river banks, and when the river was " low " fabulous yields of gold to the dish were obtained, but so far the river has never been " so low ' since, etc., etc. All this is mere conjecture, and the writer, whilst not in any way biassed against any claim, earnestly wishes to point out that no share is worth above par till the dredge is a paying concern. These same remarks apply to all the claims on the river. Not a single claim has even been proved payable between the Magnetic and old Wakatipu claims (the latter is now the Kia-Ora) ! Let some in- . vestors see the claims their money is going 'nto, and they might think differently. The Voltaic is a rocky gßrge, the second Magnetic ditto, j These claims are very high. If at an intrinsic ' value, I'm afraid all the \gorking dredges, as regards their shares, are too low in price. Be- ' tween the Magnetic and Cromwell are several working dredges, mostly well known. The ' Richards's Beach is certainly a '" problem," ; and only wants to be seen to induce people to j "think" a little. The Electric Extended has i a part of the river — very rocky indeed, — which will give the dredge some work. For her | chance of success the premium on her shares ! is very high indeed, for, at best, she is a j gamble. The pontoons of the Richards's , Beach are nearly afloat; the Electric ! Extended has the framing up. The famed Hartley and Junction Electric are well known. The Alpine Consols claim is at a remarkably high premium, which will not, ' I am afraid, be justified by results. The Cen- } tral Electric is a pure gamble at the best. She ( "might" be a bonanza, and .she might not. ' I Lower down the gorge wo ge'u the very rocky , I Kelly snd Casey, Halfway Hoiise, and Monto i Christo. The Halfway House is another problem. The rocks are there, and no mistake. At low water anyone can see them from the I road. A dredge may \voik there, but I doubt I it. The anomaly of dredging: fiom the share I market point of view exists in the Cairnmuir and Old. Dunstan claims. Both are rocky, and any- ' thing but'nice looking, yet the former is at 14s ! and the latter at 5s premium. Why is this? i If one is worth 5s surely the other should not 1 be highp- Shareholders at large premiums should look personally at their properties. The Boundary Creek claim has, it is said, 15 acres | of bank. " Bank " it certainly is, and the dredge that will tackle it must be of a peculiar kind. ' This claim, at a high premium, is certainly a risky investment. A shareholder can see it from the coach. Another anomaly exists lower clown. Why are the Vincent Extended so high? — 12s < premium. This claim exists on " report " pure ! and simple. Nobody knows a lythmg for certain; yet, mark you, "report" says it is good. Yet lower down, the Vincent, a working dredge, fully paid up, stands only at £2. The price may be low; I don't venture a personal opinion, I I only state facts. Yet if a working dredge like this has proved the ground, and so far has not done much, why is the next claim so highly thought of? "Report" again. Between Clyde and Alexandra I will say nothing about, because this part of the river has . been tried and proved, and the public know the results. Why are the Dunstan Leads so high? At £1 premium they are worth £28,000, 14.000 shares being in the company. Not a single stick of timber is on the ground yet for building the pontoons. Do investors ever stop to consider what a premium like this means? The fine paying Matau, a working dr.edge t with

7000 shares, stands at £i, equal £28,000, and she has paid 18s 6d per share in 12 months or less. Do investors aot know that even the size of a dredge has its limits 9 In the case of the Dunstan Lead it will take JC7OO to pay a Is divi- j elend, whereas the same amount in the Matau pays a2s dividend. Investors should note the&e facts, and riot be led away with " boom" excitement. . | But for all the gambles and pure " tosses • ' uo " recommend me to the goigre between Alexandra and Roxburgh. It would do soiree investors good to see seme of their " higli" pre- 1 miv.mcd " properties. The Bendigo, First' | Chance, Golden Falls, River Molyneux, Golden Cradle, Golden Ripple, and many other : " goldens " are situated heie, together with the Long Valley, Elbow, Sixteen and Fourteen- ' mile Beaches? Did anyone ever hear of the [ j Ber-chgo being well spoken of by disinterested paitieb? Ko. Take the First Chance claim at 20s premium. Is it a fact that this is the , old " Island Basin ' claim, which was a " rank j 1 failure" after being tiied by a steam dredge, , ' whose company went into liquidation? Yes! this is a solid fact. This old story is used again : The dredge was " too small. It will be interesting to watch and learn results of the ,'" large dredge going on later. The Golden Falls are going to have a large " current- , wheeler." How long will she work? And 1 where but near the falls will she gel sufficient ' current to work her? Investors please note these shaies have risen 8s 111 a month. They ' are now about 12s premium. How long as the I Fourteen-mile Beach been projected? Eleven. , thousand shares at over £1 premium make a ; heavy capital considering the locality of the j ' claim. How many large rocks were taken in , the Golden Elbow to make up 'the area 01 the claim? " Never mind, ' said a friend of mine,' i "it all makes up a claim. ' Quite so ; but the public will awaken sooner or fater. Then the 1 Sixteen-mile. What is there to warrant the very much exaggerated reports being put about ; town concerning this claim? As a gorge claim, pure and simple, it may have a chance — I hope 1 it will, — but surely, Sir, it is not fair to-take so rmuch for granted before a tithe of evidence is adduced in support of statements. Ir vestors J please remember the Kawaiau boom of 1890, ' ! consequent on the Sew Hoy Big Beach repoits.. j If the public will " take oil," many " hills " I aiound Roxburgh will soon be on the market. ' Look at the Gold King-claim, floated last week —shares 9s premium. The claim may be- tin excellent one; but, Sir, is it sound financing on the part of the public? Only five months ago the public would not look at this claim at any puce. Why? But now they take it up with avidity. Why 9 ''Boom,' pine and simple. Take the Gold Queen, now at 19s piexnium. For four months this claim hung five, an I now it is well spoken of. • Why ? The claim has never been tried, and no one knows anything, but by hearsay and surmise. Again, take the Moa. Flat. The shares after its flotation wore sold at 2s discount, and the claim lun down all over the city. Why? No one knows ; yet why has the claim advanced in public estimation ? — which is 7s premium, j Ido not want, Sir, 'to run down any claim, or in the least belittle pnything connected with 1 dredging ; but when shares advance in value every month as they have been doing, and the dredges no nearer completion, then investment j becomes a pure gamble, and the inevitable re- ! suit follows — the " slump, ' and consequent losses and worry to hundreds — perhaps thousands. i Look at the large number of dredging corn- ' panics floated below the Beaumont. Can any of your readers conscientiously find a genuine , illustration where a large dredge ha? a really good chance of success? Has any systematic boring and prospecting ever been done? A little "'bank scraping" has been done here and there; that is about all. The Sunlight Company above the Beaumont, with a small capital and well managed, medium dredge, has made a ' fair success, but with an £8000 capital she would just pay a dividend " occasionally." Before concluding, Sir, I think it only fair that the public should be educated up to this " high premium business." In my letter I have in all cases stated facts, which can be and are, easily verified. Dunedin is now so much bound up with the dredging industry, that it ~"will come as an "enomious shock if we experience many failures; but many people are too sanguine, and it must not be forgotten that someone must hold shares at high premiums. We, of a necessity, must have, and will have, some failures, but the industry on the whole is a sound one, and I fully believe will in time cause great prosperity to emanate from its prosecution. Investors should not be led away by glowing reports. Recollect that | often mining experts and others who vend ] claims, which soon stand at substantial pre- t miums, are only men after .all ; and also that ; a man would hesitate very often to lend his hard-earned cash to certain men personally, but will not hesitate to invest his money in a claim j reported upon by these same men. These ' things have happened frequently of late. i " Booms " are fine things for those ' in the ' , know." but booms generally " burst " sooner or later. Please keep in mind the case of the ! Ophir dredge. Lately— a few months ago— j owing to certain '' booming " reports, some I shareholders were lucky enough to " get out " i at 235. Where is the Ophir now, and what are ( her prospects ? .Let the public " think " just • a little. ! I am a Victorian, and have been through ! many booms. The Mount Lyell boom is fiesh I in people's memories; also the Westralian and • Zeehan booms. Look at the Mount Drysdale boom of four years ago in New South Walesquartz at lOOOoz to the ton. Everybody floated , claims, all with " excellent prospects," but the j " inevitable " came, and thousands were ruined. j I am awaru dredging, if properly conducted, is j the safest and most permanent gold industry in the world, but it has its limits, and'when specu- « lation comes in and caution is thrown to the winds, someone must " hold the baby." — I am, . etc., A Recent Country Visitor. REPORTS FROM; WORKING DREDGES. The secretary of the Golden Beach Comuany reports a return of 19oz 13dwt 3gr gold for 119 « hours. I The Nevis dredging company reports a re- , turn of 30oz for 106 hours' dredging. ! The dredgemaster of the Golden Gate Dredging Company reports a return of 660z 19dwt, river steady. I The secretary of the Tuapeka Dredging Company reports a return of 15oz 2dwt for 118 hours' j ' dredging time. The dredge is working through i clay. The secretary of the Junction Electric Gold Dredging Company reports a, return from No. 1 2 diedge of 240z lOdwt. The ground is very I rough. The secretary of the Charllon Creek Company lepcits a return of 20oz 12dwt 6gr for 127 hours' dredging. The secretary of the Manorburn Gold DredgI ing Company (Limited) reports a return of 15oz sdwt for the week. Mr Richards, of Alexandra, secretary of the 1 Chicago Dredging Company, reports a return of 220z 2dwt 12gr. The return from the Inch Valley Gold Dredg- , ing Company is 31oz sdwt for 129 hours. The secretary of the Golden Terrace Dredging Company reports a return of 12oz '7dwt 4gr for the week ending Thursday from No. 1 dredge only. The secretary of the Morning Star Dredging Company reports a return of 7oz ldwt for 121 hours' dredging for the week ended Friday, 2nd inst,

Mr L. Ryan, Alexandra, reports the following returns: — Nil Desperandvtm, 12Joz; Per- ! se\erance, 40oz; Molyneux Hydraulic, 14oz | 15dwt. ! The return from the Earnscleugh No. 2 for last week was 570z 16dwt. I Mr Jabez Burton reports that the return from j the Ettrick dredge is 9oz 4clwt for five days. | The Dunedin dredge obtained 17oz Bdwt 12gr for five days' dredging last week. The secretary of the Waimumu Gold Dredging Company reports a return of 21oz for 162 1 hours' dredging. I The secretary of the Matau Dredging Company (Limited) repoits a return of 68oz. i The secreiaiy of the Clyde Dredging Company leports a return of 250z. The river is sft Bin above normal. , Mr J. J. Gibson, secretary of the Success Dredging Company, reports a return of 320 a Gdwt 20gr for 12K hours. i The Secretaiy of the Golden Point Company j repoits a return of 18oz 13dwt for the week. t The return from the Chatto Creek Company's dredge was 7oz for 122 hours. The dredgemaster reports that the bottom, which has been very hard for some weeks past, shov.-s signs of softening. The Dunedin Stock Exchange reports the following reburn for last week: — Otago Dredging Company, 15oz. I ! The return from the Macraes Flat Gold i Dredging Company (Limited) is 7oz 15d\vt gold ' for 123 hours' dredging. | The secretary of tlie Enterprise Company reports a return of. 31oz 9dwt 12gr for 127 hours' work. j The secretary of the Evans Plat Dredging Company reports a return of 12oz 16dwt for the ■week ending Saturday, 3rd inst. The Upper Waipori Alluvial Gold Dredging ' Ccmpany (Limited) obtained last week 240z 9dwt of gold for 129 hours' dredging. The Jutland Flat (Waipori) Gold Mining Company (Limited) obtained last week 250z I 14dwt of go!d for 144 hours' wages time, 137 hours' actual dredging. The Enrpire Gold Dredging Company (Limited) obtained 530z sdwt 3gr of geld for last week's work. ' The return from the Galtee More dredge for last week was 13oz. I I THE WEEK'S DREDGING RETURNS. ' During the week ended Monday, sth n»st., returns were reported from the following 32 dredges, the total yield being 8430z Gdwt, or an average of 260z per dredge: — Oz dwt gr Hartley and Riley, Cromwell ..68 7 0 Matau, Clyde 68 0 0 Golden Gate, Island Block .. .. 66 19 0 Earnscleugh No. 2, Alexandra . . 57 16 0 Empire, Waipori 53 5 3 Per&everance, Alexandra . . . . 40 0 0 Inch Valley, near Palmerston (129 hours) 34 5 0 Success, Waipori (128J hours) ..32 C 20 Enterprise, Alexandra (127 hours) 31 9 12 J Nevis, Nevis River (106 hours) ..30 0 0 Jutland Flat, Waipori (137 hours) 25 14 0 Clyde, Alexandra 25 0 0, Junction Electric, Cromwell . . 24 10 0 Upper Waipori, Waipori (129 hours) 24 9 0 Chicago, Alexandra 22 2 12 j Waimumu, near Gore (162 hours) 21 0 0 Gharltorr Creek, near Gore '(127 < hours) 20 12 6 Golden <»Beach, Alexandra (119 hours) v 19 13 3 Golden Point, Alexandra .. .. 18 13 0 Dunedin, Roxburgh (5 days) ..17 8 12 Manor-burn, Manuherikia . . . . 15 5 0 Tuapeka, Tuapeka Flat (118 hours) 15 2 0 Otago, Miller's Flat 15 0 0 Molyneux Hydraulic, Alexandra.. 14 15 0 G altee More, Manuherikia .... 13 0 0 Evans Flat, Tuapeka 12 16 0 Nil Desperandum, Manuherikia . . 12 10 0 Golden -Terrace, • Lower Shotover 12 7 4 Ettrick, Moa Flat (5 days) .. .. 9 4 0 Macraes Flat, Macraes (123 hours) 7 15 0 Morning Star, Manuheiikia (121 " hours) 7 1 0 Chatto Creek, Manuherikia (122 hours) 7 0 0 Total 843 6 0 i SLUICING AND ELEVATING RETURNS. The Secretary of the Nokomai Hydraulic Sluicing Company (Limited) reports a return of 1920z 19dwt 6gr of gold for the month of January, 1900. j The return from the Golden Run pipes is 220z. j DIVIDENDS. ; The_ •directors of the Goideil Treasure Dredg- ' ing Company have declared a dividend of 6s per share, payable at once. The directors of v the Golden Gate Dredging Company have also declared a dividend of 6s per share, payable immediately. ! The directors of the Success Dredging Com- ! pany have declared a. dividend at the rate of 2s per share, which is now payable. Tlie directors of the Nokornai Hydraulic ■ Sluicing Company have declared a dividend (the fifth) of 2s 6d per share, payable on the 7th , inst. DUNEDIN STOCK EXCHANGE. Sales were made on the 31st at the following - premiums: — Ahaura River, 6d ; Alexandra Lead, lla and lls 3d; Alpine Con&ols, 17s; Beaumont Lead, Is; Bendigo, 14s 3d; Boundary Creek, 6s 3d, 6s 6d, and 63 9d ; Central Charlton, Is 3d; Charlton Cieek, 15s 6d; Dunstan Pioneer, 3s 6d; Ettrick (new issue), 3s 3d ; G alvanic, 6s 9d ; G entle Annie, 9s 6d ; Gibbston, Is 3d and Is 6cl ; Gold Deposit, Is 9d; Gold King, 8s 3d and 8s 6d; Golden Bed, 6s 6d and 6s 3d; Golden Elbow, Is; Golden Horseshoe, 3s 3d, 3s 9d, and 4s ; Golden Mile, 3d ; Grand Junction, Is 6d, Is 9d, Is 6d, Is 7Jd, and Is 9d; Great Central, 30s 6d; Halfway House, 19s; Kelly and Casey, 7s; Kia-Ora, par; Leviathan, 8s 9d; Metallic, 3s 6d; Moa Flat, 7s; Monte Christo, 34s 6d; Nugget, 7s 6d; Old Dunstan, 4s 9d ; Richards's Beach, 12s ; ' River Molyneux, 12s 6tl ; Roxburgh Jubilee, 7s 3d; Royal Maori, lls and 10s 9d; . Sixteen-mile Beach, 6s 3d ; Springvale, Is ; Tacon's Cardrona, 3s; Teviot, ss; Upper Magnetic, 12s 6d, 123 3d, and 12? 6d ; West Matau, Is 3d and Is. Sales also took place at the following prices: — Central Electric (paid), 105s; Cromwell, 695; Dunedin, 14s 6d and 14s 3d;

Ettrick, 15s 6d; Inch Valley, 47s 6d: Nevis, 27s 6d. Sales were effected on Thursday at the following premiums. — Alpine Consols' 7s; Alpine No. 2, 14s 3d; Bendigo, 14s; Central Charlton, Is l£d and Is 3d; Central Electric, 91s; Electric Extended, 15s 9d and los 6d; Ettrick (new. issue), 5s and 5s 3cl; Excelsior, 4s 6d; Gentle Annie, 10s; Gold Deposit, 2s; Golden Bed, 63 9d, 7s, 7s 6d, and 7s 3d ;• Golden Chain, 2s 3d ;, Golden Horseshoe, 4s and 4s 3d; Golden Mile,' 3d and 4jkl; Golden River, 2s 3d; Golden Roxburgh, 9d; Great Central, -10s 3d; Halfway, Hcuse, 18s 9d; Kawarau Bridge, 2s 9d; Leaning Rock, Is 6d and Is 9d; Majestic, 7s and 73 Gd; Moa, Flat, 7s; Morven Feriy, 6d, 9d, andQ 6d ; Nelson Creek, 4s ; Nugget, .7s 6d ; Old* Drnatan, 4s 9d; Royal Maori, 10s 9d; Second Magnetic, 16s 6d; Sixteen-mile Beach, 6s 6d, 7s, and 7s 3d; Spec Gully, 6d ; Springvale, Is; Upper Magnetic, 12s 6d; White Star, 6s 3d, 6s 6d, and 7s 3d. Sales were also made at the following prices:— Charlton Creek, 34s 6d," 34s 3d, and 345; Dunedm, 15s; Golden Run, 535; Hartley and Riley, 200s, 206s 6d, 208s, and 2095 ; Inch Valley, 495 ; Kawarau Consolidated, 9d discount; Klondyke, 29s 6d. Sales took place at the following premiums on Friday : —Alexandra Lead, 10s 6d; Arrow Junction, 7s; Bendigo, 14s; Cairnmuir, 13sCardroiia No. 1, 2s 6d ; Cardrona Valley, 3sCentral Charlton, Is 6d and Is 9d; Dunstan, Pioneer, 2s 6d; Electric Extended, 15s 6d; Ettrick (new issue), 5s 3d, 5s 6d, and 5s 3d; Excelsior, 4s 9d, 5s 3d, and ss; First Chance, 18s; Fourteen-mile Beach, 23s 6cT; Gibb's Beach, 3s; Gold Deposit, Is 101 d; Golden. Bed, 7s 9d, Bs, and 8s 3d; Golden Chain, 2s 3d ; Golden Horseshoe, 4s, 4s lid, 4s, and 4s 3d ; " Golden Roxburgh, 9d; Grand Junction, 1- Gd and" Is 8d ; Grey River Consolidated, 2s 9d and' . 3s; Kawarau Bridge, 3s; Kia-Ora, par; Leviathan, 8s 3d ; Monte Christo, 15s 6d ; Morvert Ferry, Is; Old Dunstan, 4s 3d; Reeves Proprietary, 9d; Richards's Beach, 12s '6d; River Molyneux, 12s 6d; Roxburgh. Jubilee, 7s 6d; Royal Maori, lls 3d and 11s 6d; Royal Sovereign, 3d ; Sixteen-mile Beach, 7s ; Tacon's Cardrona, 3s 6d ; Teviot, 4s 9d ; Upper Magnetic, 13s, 13s 6d, and 13s; West Matau, Is. Sales also took place at the following prices: — • Cromwell, 71s; Gold Queen (paid), 38s 6d; Hartley and Riley, 209s and 208s 6d ; Inch Valley, 48s and 495; Smith's Creek and Bannockburn, Is dis; Springvale, 21s 3d; AVaimumu, 20s 6d and 21s 6d. Sales were-jjiade on Saturday at the follow- - ing premiums : *— Arthur Point, par; Charltdn Creek, ]4s9d ; Endeavour, 7s 6d ; Ettrick (new issue), ss; Gentle Annie, 9s 6d ; Gold Deposit, 2s 3d ; Golden Horseshoe, 4s ; Golden River, 2s ; Grey River Consolidated, 3s and 2s 9d ; Metallic, 3s 9d; Morven Ferry, Is and Is 3d; Richards's Beach, 12s 6d ; Roxburgh Jubilee, 7s 9d; Royal Maori, lls 9d ; Tacon's Cardrona, 3s 9d; Teviot, ss; Upper Magnetic, 13s; Vincent Extended, 12s. Sales also took place at the following prices: — Dunedin, , 15s 3d and 1 5s, First Chance (paid), 355; Galtee More, I :ls; Hartley and Riley, 2075; Magnetic, 655; New Alexandra, 47s Gd. Sales were made on Monday at the followingpremiums: — Alpine No. 2, 15s Gd; Ariow Junction, 7s ; Boundary Creek, 6s 6d ; Cardronai No. 1. 2s 9d ; Central Electric, 85s and 82s 6d : Coal Creek Flat, 3s ; Dunstan Lead, 19s 3d and. 19:3 6d ; Endeavour, 7s ; Ettrick (new issue), 4s 6d and 4s 9d ; Excelsior, ss ; First Chance, 18s 9d and 18s 6d ; Garibaldi, Is; Gold Deposit, 2s 3d; Golden Bed, 8s 6d and 8s; Golden Elbow, -Is 6d; Golden Horseshoe, 3s 3d; Golden River. 2s ; Golden Roxburgh. 8d ; Great Beach, 6d; Greenstone, Gd; Grey River Consolidated, 3s and 2s 10id ; Kawarau Bridge, 2s 9d and 3s ; Kelly and Casey, 6s 3d; Leaning Rock, Is 9d; 'Metallic, 3s 9d; Monte Christo, 16s; Morven 1 Ferry, Is 4Jd; River Molyneux, 12s 6d; Roxburgh Jubilee, 8s ; Royal Maori, 10s 9d ; Royal Sovereign, 3d; Sailors' Bend, 295; Sixteenmile Beach, 7s 3d; Tacon's Cardrona, 3s 9d; Teviot, ss; Vincent Extended, lls 6d ; West Matau, Is ; White Star, Bs. Sales were also made at the following prices: — Hartley and, Riley, 2055; Klondyke, 29s 6d; Perseverance, • 80s. j OTAGO STOCK EXCHANGE. I Sales were recorded at the following prennums on the 31st: — Alexandra Lead. 10s 9d I and 10s 8d; Alpine No. 2, 13s 6d; Chavlton Creek, 14s and 14s 4d; Ettrick (new issue), Is lOJd and 2s; Excelsior, 4s; Galvanic, 6s 6d; Gibb'a Beach, 2s lOJd ; Golden River, 2s 2d and 2s 3d , Grey River Consolidated, Is 9d, 2s, and 2s 6d ; Kawarau Bridge, 3s ; Leviathan, 9s 6d ; Majestic, 6s 6d : Metallic, 3s 3d ; Royal Maori, I 12s and lls; Sixteen-mile Beach, 7s; Spec I Gully, 3s: Tacon's Cardrona, 2s 9d; Upper Magnetic, lls 7d ; West Matau, 9d. Sales also took place at the following prices: — Dunedin, 14s IJd and 14s 3d ; Inch Valley, 475 ; Morning Star,"24s; Ophir, 3s 9d ; Vincent, 38s. , Sales were msde yesterday at the folowing premiums : —Alpine No. 2. 13s 3d : Cairnmuir, 14? 7jd; Cnrdrona Valley. Is 3d; Central Electric, 89s, 90s, and 91s: Charlton Creek, 15s; Endeavour, 7s 3d ; Ettrick (new issue), ss ; Excelsior, 4s 3d and 4s 6d; Golden Gravel, Is 8d ; Golden Horseshoe, 4s; Grey River Consolidated, 2s 9d and 2s lOld; Kelly and Casey, 6s 9d; New River, 9d; Nugget, 7s l|d and 7s 1 6d; Richards's Ber.ch, 13s; Royal Maori, 103 ; Vincent Extended, 10s 6d. Sales also took place at the following prices: — Dunedin, 14s 9d and 15s ; Ettrick (paid), 17s 6d : Golden Gate, ■ 136s 9d; Hartley and Riley, 203s and 2055; Inch Valley, 17s 3d. Sales were recorded on Friday at the following premiums- — Aloine No. 2, 14s 4.], d, 14s Gd. and lls 7d ; Boundary Creek. 6s 3d; Central Electric, 90s; Electric Extended, 15s: Ettrick (new issue), 4s 6d, 4s 9d, and 5s 3d; Excelsior, 5s 3d and 5s 6d ; Galvanic, 6s 2d; Garibaldi, Is; Gibbston, Is, Is Hd. Is 3d, and Is 4d; Gold Queen, 18s 6d, 19s Gd, and 20s; Golden Bed, 7s; Golden Gravel, Is lOd; Golden Hoiseshoe, 3s Gd and 4s; Grey River Consolidated, 2s 9d: Majestic, 7s 3d; Nugget, 7s 4d ; Richards's Beach, lls 9d ; Second Magnetic, 14s ; Vincent Extended, 10s 9d. Sales were also made at the following prices:— Golden Beach, 58s 9d ; Golden Gate, 139s 6d ; Hartley and itiley, 2065; Inch Valley, 50s; Nevis, 26s 3d; New Alexandra, 4-ls Gd ; Otago, 40s; Vin- • cent, 38s 9d and 40s. Sales were recorded on Saturday at the following premiums: — Boundary Creek. 6s 3d; Dunstan Lead. 19s ; Endeavour, 7s 9d ; Excelsior, 5s 6d ; Garibaldi, Is 3d ; Gold Queen, 18s 9d ; Golden Horseshoe, 4s ; Grey River Consolidated, 3s and 3s 3d; Kia-Ora, Id; Old

Punstan, 4s Gd ; Reeves's Proprietary, 6d ; Hichards's Beach, 12s ; Spec Gully, Is ; Tacon's Cardrona, 4s. Sales also took place at the following prices: — Bannockburn Creek, 3d dis; 3?unedin, 15s and 15s 3d; Hartley and Riley, So6s 9d and 2075; Inch Valley, 49s and 49s 6d; Macraes Flat, 6s 9d ; Waimumu, 2Qs 6d. Sales were effected on Monday at the following .premiums: — Alexandra Lead, 10s 9d; Beaunnont Lead, Is 10£ d; Boundary Creek, 63 l§d ami 6s 3d; Cardrona No. 1, 3s 6d; Ettrick (new issue), 5s 3d and 5s 6d; Excelsior, 5s and 5s 2d; Golden Banner, 3d; Golden Beach, 7s 9d; •Great Central, 10s 9d; Horseshoe Bend, 3d; OKawarau Bridge, 3s ; Metallic, 3s 6d and 3s 9d ; ■Moa Flat, 6s 9d ; Monte Christo, 16s ; Nugget, 7s 6d ; Old Dunstan, ss, 4s 9d, and ss ; Tacpn's Cardrona, 4s and 4s l}d. Sales also took place at the following prices : — Bannockburn Creek, 4£d discount; Dunedin, 14s 6d; Golden Gate, 1435; Hartley and Riley, 2065, 2055, ancl 206s §d ; Inch Valley, 495 ; Magnetic, 64s 6d.