THE WEEK'S MINING NEWS.

Otago Witness, Issue 2399, 22 February 1900, Page 18

THE WEEK'S MINING NEWS.

Mr F. W. Payne, the engineer for the Dunstan Lead Gold Dredging Company, reports as follows concerning the construction of the dredge: — The engines were ordered from Messrs Marshall, Sons, and Co. in August last. The boiler was ordered in September from the Dunedin Foundry and Engineering Company. The ladder and buckets weie ordered the same month from Messrs A. and T. Bui-t, and the ste; l gears and tumblers from England. The constiuction of the wmche? was entrusted to Mr J. M'Gregor, who signed the contract in October last. The hull is being built by Messis Knewstubb Bros. The whole of the contracts are making good progress, and it is anticipated that the dredge will be ready to start operations within seven months. When completed it will be considerably largei than any gold dredge now afloat m New Zep land.

At a meetiiig of the provision? 1 directors of the Prince Arthur Gold Dredging Company (Liirited), held in Mr Valentine's office on the 12th, the shares were allotted. Mr W. Millard was appointed interim secretary and Mr T. S. Grahr.ni auditor.

An Auckland telegram states that the May Queen ciushed 43S tons for bullion valued at £1So9; the New Mosaataiaii crushed 50 tons for bullion worth JE2OB; the New Zealand Talisman, 706 tons for bullion worth £2212; and the Crown mine crushed 2559 tons for gold valued at £4850.

The return from the Bakeiy Flat Sluicing Company is 350z 15dwt llgi since January 12. The directors ot" the Kawarau Budge Gold Diedging Company (Limited) have resolved to ispue pro rpta and at par to the shaielioldeis whose names are on the register on the 13th inst., the 2500 shares reserved at the time the original allo-lmenl took place. The directors of the Roxburgh Amalgamated Mining and Sluicing Company have declared a dividend (the 25th) of 6cl per^&haie, payable on Monday, 19th inst. The Record Reign dredge, which sank on the Waikaka a little over a week ago, has been successfully raised, and was to resume work on the 13th.

Mr Robert Young, of the Tuapeka dredge, has been appointed manager of the Klondyke dredge on Wether stones Flat. The plans of the dredge for the Golden Chain Company are completed, and tenders for the coi-btmction. of the pontoons are now called. Tenders for the machinery will be called for shortl3 r . The prospectus of the Marsden No. 3 Company is just ready, and the share list nearly filled. The property has been very well reported on .by Mr William Faithful, Messrs Cutten Bros.' West Coast representative.

At a general meeting of the Kelly and Casey Beach Dredging Company, held on Monday night, lcsolutions were passed giving the directors power to acquire additional dredging ground; also to issue 1300 new shores if it were found necessary to do so. The new ground consists of two pieces of about 30 chains in all — one piece a I the northern boundary of the company's original claim, adjoining the Great Central, the other between the latter company's ground and that of the Alpine Consols Ccn.pany. Contracts in connection with the construction of the dredge have been let, and will be cariied out with all possible expedition.

The statutoiy general meeting of shareholders of the Otarna Gold Dredging Company (Limited) was held on the 14th, when the following gentlemen were elected dnectors: — Messrs J. J. Wright, W. C. Burt, F. A. Hooper, F. Proctor, and J. Dickson. Mr Geoigo Blylh was appointed auditor, and Mr E. Roberts consulting engineer to Ihe company.

The prospectus of the Molyneux Valley Gold Diedging Company will be issued shortly. The claim consists of about 80 acres, and lies between the Harris Beach and Paul's Beach claims. A large number of shares have been bespoken in the country districts. Messrs Harmon Reeves and Co. are the Dunedin brokers.

The dredgemaster of the Matau Co. washed v■) on Thursday 80oz for three days' work. Unfortunately the Government boiler inspector will be paying his annual visit to-day, and will necessitate the stoppage of the machinery for two shifts, thereby in all probability preventing the dredgema&ter having the pleasure of lowering his own record of 116oz 9dwt for a week.

The directors of the Kia-Ora Gold Dredging Co at a meeting held on Thursday accepted tenders for the pontoons, engine, and boiler. Mr Payne, engineer for the company, expects to have tenders m for the machinery in a few days.

The statutory general meeting of the Royal Sovereign Gold Dredging Company (Limited) w.is held in the company's office, Crawford stieet, Dunedin, on Wednesday, 14th inst. The following gentlemen were elected directors for the ensuim* 12 months: — Messrs Hancock, Aitken, Keliher, M'Dowell, and Captain Sundsliom. The latter was elected chairman. Mr J. F. Bailey was appointed secretary, and Mr William Reid auditor.

The statutoiy general meeting of the Horseshoe Bend Gold Dredging Company was held in the Otago Stock Exchange, Bank of New Zealand Buildings, on Thursday, when the fol1 owing gentlemen were appointed dnectors. — 3?- A.. Hooper, James Laintr. F. Proctor. Allan

Blackie, and J. Murrell (Cromwell). Mr G Blyth was appointed auditor.

The brokers of the Cardrona Bonanza Gold Dredging Company (Limited) intimate that owing to one of the country brokers not placing the total number reserved for him at liis request there are now available for application 400 shares. The Rolling Stone Company's dredge, adjoining the Cardrona Bonanza, starts operations m a day or two.

The directors of the Big Flat Diedging Company (Limited), Waipori, i% - ho weie elected at the statutory meeting on January 25 last, have accepted tenders for the whole of the dredge plant through their consulting engineer, MiLeslie ±1. Reynolds. The work is to be pushed on and completed in nine or 10 months. A Robey engine and boiler has also been ordeied.

The directors of the Enfield Gold Diedging Company have accepted tenders for all the machmeiy. The material for pontoons is now on the ground, and the contractors will start work immediately. The engine and boiler weip called ±or nearly a month ago, and it is expected that the dredge will be at work m a little over six months.

The directors of the Gold Deposit Dredging Co. on Thursday accepted tenders for building ing the pontoons, to be conixileted within six months. The engine and boiler were also ordered. Mr Payne, consulting engineer, is calling tenders for machinery, and the directors are holding a special meeting to consider them as soon as received.

The prospectus of the Golden Star Dredging Company (Limited) appears in the Daily Times of Friday last. The claim, of some 50 acres, is the key to the Island Block, with about half a mile Molyneux River frontage. Of the 8000 contributing shares 4000 have been applied for in Roxburgh and 3000 in Alexandra and Clyde ; but it has been arranged th .t 4000 shaies are reserved for Dunedin, the gieater portion of which has already been applied for. The broker, Mr D. G. Davidson, of Colonial Bank Buildings, advises us. that Roxburgh invcstois are anxious to secure more than the number above bespoken. The directors of the Bendigo Gold Dredging Company (Limited) have ordered the engine and boiler for the dredge, and all the remaining, tenders for contracts will be closed next week.

The directors of the River Molyneux Gold Dredging Company (Limited) have called for tendeis for the pontoons and machinery. The engine has already been ordered. 'j he Waimumu Extended Company's dredge was expected to start work about Monday. A trial run was made with the machinery a few days ago, and, excepting a few small hitches, which have been easily rectified, the tnal was satisfactory. Mr Pettigrew, late of Adam's Flat, is the dredgemaster for the company. The Diggers' Pride Gold Dredging Company has been floated, and the shares allotted. The timber for the Premier Waikaka Company arrived at the Bluff !*st week, and the building of the pontoons will now be pushed forward with as little delay as possible.

At a meeting of the directors of the Golden Giavel Company, held recently, the chairman wa=> requested to visit the claim to pick out a mutable spot for the erection of the pontoons and make inquiries concerning certain matters.

The Lady Charlton Gold Dredging Company had been floated and the shares allotted. Mr Keith S. Ramsay is the secretary for the company. The Nugget Company's dredge is nearly completed. The last of the machinery, with the timber for the tables and housing reached the claim on Monday. The dredgemaster went up last week to take charge. The dredge will probably start work this week. The Golden Beach dredge has been stopped for a week, but was to start again on Monday. Mr A. M'Lean, of the Moa dredge (Clyde Dredging Company) has been appointed di edgemaster. The Scotia (Macalister's) Gold Dredging Company, adjoining Tacon's Cardrona, has been practically floated, and the shares will bo allotted very shortly.

Messrs Barr, Leary, and Co. report the flotation of the Lady Roxburgh Gold Dredging Company (Limited), on whose property the Dunedin dredge obtained some very rich returns, varying from 20oz to 1560z, and in most places without bottom. The shares reserved for Dunedin were subscribed in one hour, and over 2000 have already changed hands- at 4s and 5s premium. The prospectus is published elsewhere for public information.'

Messrs Barr, Jjeary, and Co. report the notation of the Lady Cardrona Gold Dredging Company (Limited). As this claim is situated between the Rolling Stone and White Star propeities, the shares were greatly in demand, but the biokers, m accordance with their usual custom, closed the list as soon as the requisite number was subscribed. The prospectus is published elsewhere for public information. Messrs Barr, Leary, and Co. also report the successful notation of the Roxburgh Lead Gold Di edging Company (Limited). Part of this claim is situated between the Roxburgh Jubilee and Endeavour claims, the former being a proved propeity. The prospectus is published elsewhere for public information.

Messis Barr, Leary, and Co. report the successful flotation of the Lady Charlton Gold Dredging Company (Limited). This claim is situated next above the Charlton Creek Gold Di edging Company, whose ground has been proved to be payable.

Messrs Barr, Leary, and Co. report the successful notation of the Kohinoor Gold Dredging Company (Limited), the West Coast and Wellington investors absorbing nearly all the available shares, 1000 only being issued for subscription in Dunedin.

In Saturday's Daily Times appears the prospectus of the Garvey Burn Gold Dredging Co., situated in the Waikaia district. The brokers — Messrs Hamilton and M'Kerrow — say that a large number of shares have been applied for m Gore and Waikaia, and there are only 2000 shares available for subscription. Mr John Don, mining expert, has prospected the claim, and his report speaks for itself.

The secretary of the Shotover Quartz Mining Company (No Liability) supplies the following extiact from the mine manager's report: — " Machine level extended sft ; total length 9i9ft; formation still broken, but hanging wall forming again ; leaders in crosscut showed little gold. Took out eight tons for week; total 57 tons ; but stone not going up ; rising at 795 ft; rise up Bft."

The Electiic Gold Dredging Company (Limited) have declared a dividend of one shilling per share, payable on 20th inst.

The Junction Eiectnc Gold Dredging Company (Limited) have declaied a dividend of one shilling per share, payable on 19th.

Mr K. R. Law, until lately with the Bank of Australasia, has commenced business as sharebroker and financial agent. He has joined the Dunedin Stock Exchange

The mining investors' guide to the dredging companies of Otago and Southland and the West Coast of New Zealand, which is being compiled by Mr Alfred H. Burton, will be issued on Monday, 26th inst. The information contained in this work will be as authentic and up-to-date as it is po=sible to obtain it, and should be of great seivice to all interested in the dredging mdustiy.

Shares m the Trafalgar Gold Dredging Company were allotted on Friday night. The number of contributing shares allotted was 6750, and ths number applied for 5295, b<\«sidea which a rnmiber of au plications we-ie refused. From

thi.j it will be seen that the shares wore oversubscribed by 1545. Mr J. A. Shgo was ar* pointed secretary, and Mr E. Eoberts engineer. The statutory meeting has been fixed for the 6th March.

Mr A. M'Lean. who has been dredgemaster of the Clyde Dredging Company's dredge Moa. foi some time past, has been appointed dredgein? ster of the Golden Beach Company's dredge.

Mi E. Ewing, well known in Dunedin. banking circles, having been manager of the Co'onial Bank in Dunedin, and afterwards manager for the Bank of New Zealand m Palmerston, has entered into partnership witli Mr J. Martin Hume, of Wellington, and intends to commence business in Dunedin aa shaiebroker and financial agent. At a meeting of the directors of the Voltaic Piospectmg and Dredging Company (Limited), held on Monday afternoon, Mr E. Roberts, engineer, was piesent. and leported that all airangements had been made for thoroughly prospecting the property. The Turakma pontoons nowlying at Alexandra have been purchased, and. will be removed at once.

Negotiations have also been concluded with. Mr Job Osborne, the well-known well borer and sinker, of Christchurch, to undertake the boiing operations, which, will be speedily carried oat.

No time lias been lost in the removal of the Kyeburn dredge to the First Taieri claim. The contractor • reports that nearly all the rnachineiy is now on the ground, and that the construction is to be gone on with immediately; therefore, should the conditions be favourable, the dredge will be m working order within six weeks.

The prospectus of Lafranchi's -Freehold Diedging Co. appears in Tuesday's Daily Times. The value of this property is well known, and already more than half the shares offered to the public are applied for. The sharelist is therefore sure to close on an early date. The water light secured by the company is a very valuable one, being the only supply commanding the auriferous ground in the neighbourhood, and allows of the claim being profitably worked pending the completion of dredge — in itself an advantage not usual in dredging ventures. Mr S. N. Brown, the broker, will supply prospectus and all information on application.

The Mount Bpnger Mail says: — We are informed that the Main Lead Hercules claim has been described in Dunedin and elsewhere as a rock bound gorge, or c rocky claim. Neither is correct. There is certainly a few rocks between Ih .3 Endeavour and the claim, which is not, and has nothing to do with the Main Lead Hercules, which latter embraces all that broad space of river below Mr Pennell's house, and which is sometimes accredited to the Gold King. As for being aock bound, it shows a. few rocks on the banks — mostly rotten, — and these include a lot of Milestone, which is always reckoned an excellent indication of ground. The prospectus of the Kimberley Gold Dredging Company appears m Tuesday's Otago Daily Time?. The capital is £13,000 in £1 shares, of which 13,450 arc contributing. The claim comprises a considerable portion, of the Dunstan Flat, and has been highly reported on by such experts as the dredgemasters of the Clyde. Perseverance, and Molyneux Hydraulic dredges and others. Mr Edward Trythall and Messrs Gunn and Co. are the brokers.

As yet nothing has been done towards getting the Cromwell's boiler put in position, and it still lies on the river bank. This delay is, we hear, caused by the non-airival of the engineeis and fitters. — Cromwell Argus.

Messrs Harrnan Reeves and C 6. announced that the share list of the North Beach Gold Dredging Company (Limited) would close absolutely at noon on Wednesday. The brokers inform us that out of the large number of companies they have floated they have had but few with such excpllent reports. An Auckland telegram states lhat in the "\Yaihi Company during last year dividends at the rate of 2s per share were paid. On this occa»ion the directors have declared a dividend of 2s 6cl per share, payable on March 1. This means the distribution of £40,000 amongst lucky shareholders, and brings up the total amount paid in dividends to £508,500. Messrs Sievwright Bros, and Co. report the successful flotation of the Cardrona Bonanza Gold Dredging Company (Limited). The company was largely subscribed for outside of Dunedin, and the shares are firmly held. The company's claim is situated in the valley of th~ Cardrona, and adjoins that of the Rolh'ngStone Company. The latter company's dredge starts work immediately. A preliminary notice of the issue of the Point dOr Gold Dredging Company (Limited) appears in Monday's Daily Times. The claim adjoins the claims of the Royal Maori and Rise and Shine Companies claims, near Cromwell, and is said to be well reported on. Messrs Sievwright Bros, and Co. and J. J. Ramsay and Co. aie the brokers. Six thousand six hundred shares have already been ar plied for, leaving 3400 open for application. The statutory meeting of the British Lion Gold Dredging Company (Limited) was held at the office of the secretary (Mr Sidney Mirams) on the 16th inst. The following were elected directors: — Messrs J. H. Hancock, A. Stonenaan, Rose <3-urm, D. J. Bews, and W. T. Talboys, the latter being appointed permaiieiit chairman. Mr Leslie H. Reynolds is the engineer, and Mr George Blyth the auditor to- the company. A meeting of directors was held immediately afterwards, the engineer being in attendance, and instructions were given to at once prepare the necessary plans and specifications for calling tenders for pontoons and machinery.

The Cardrona correspondent of the Cromwell Times writes: — Before the end of this month dredging will be an established fact in this district. It is somewhere about three years the Rolling Stone claim was first pegged out and applied for, but time passed till the middle of last year, and still nothing was done by way of making a start to put a dredge on the claim. Howevei, the success' of dredges in other parts of the conntiy pur new life into the company, and what I believe to be one of the best dredging creeks in Otago is about to be opened up. I have it on the best authority that the dredge on the above claim will be ready to start before the end of this month — that is. if (oh, that word "if"!) all goes well; and then Cardrona will, as of yore, take a leading place arnonsj the goldproducing districts of Otago. Four other companies are about to stait building. First, the Cardrona Valley, most of the timber being now on the ground, having been supplied from one of ihe local sawmills, and tenders have been called for the building thereof, but what firm has obtained the contract I have not heard. The contracts have been let for the building of the following dredges. — Tacon's Cardrona, Cardrona No. 1, and the White Star, one of which is to be finished in June, and the other two in August. We will give them three months after the above dates, to be finished, as we are placed at a disadvantage in regard to the transit o£ material, both as to cost and sharp delivery. But with all the drawbacks that can possibly be imagined, we can certainly count on having five dredges at work m Cardrona before next Christmas. lam not a. prophet, nor the son. of a piouhet, but the Cardrona Creek, for the area worked, has proved one of the richest goldfields m Otago, and I see no reason why the 13 or 14 miles unworked should not be as valuable, especially as it is fed all the way. by various rich alluvial creekso