THE WEEK'S MINING NEWS.

Otago Witness, Issue 2427, 19 September 1900, Page 19

THE WEEK'S MINING NEWS.

The secretary of the Metallic Gold Dredging Company has received the following re* port from the company's engineer: — The portoons aro finished, ready for the machfv nery. The machinery (Messrs Stevenso i and Poole) : Ladder and buckets, inle.% valves, engine and boiler, arc on th<i claim, and most of the machinery, including screen and friction drive, bearings, condenser, etc., have been sent away, and should be eilhei, on the claim or on the way. The work of election is being pushed forward. '

The Secretary of Golden T2lbow Dredging Company reports that Messrs Anderson and Co., of Christchurch, are getting on with the work as fast as the material they have on hand wiU, permit. Hi is all A however, ordered i roxa Home;

and on arrival no delay will take plaoe in getimg work out up to contract t.me. Pontoons : The contractors (Messrs Sutherland and Nelson) have ail the material on the ground, and the framing is well advanced. The secretary of the Erickson's Reward has received a telegam stating that the pontoons were successfully launched on the lQth inst. An Auckland telegram ssys:— A cable has teen received from London intimating that ill Charles Rhodes, manager of the Kauri Freehold Gold Estates, has been appointed manager ot the New Zealand Mines Trust, which means that he will control the Waihi, Crown, Waite-kaiu-i, and other mines. Mr Rhodes is now in London. The Waipuna diedge, on the Grey River, West Coast, was to start dredging on Monday. This company was one of the lirst floated on the Coast* and is well thought of. the Oamaiu Mail state* that at a meeting of Oamaiu shareholders of the West Matau Dredging Company, held on the 10th, the following resolution was carried:— " That the dnectors be Tequested to call an extraordinary general meeting oi the shareholders ior tne purpose oi putting the comuany into liquidation." The directors "of the Charlton Cieek Gold Dredging Company have cleclaied a dividend tnirci) of Is per share, payable on Saturday, 15th inst. 'ihe third number of the " Mining Investors Guide will be issued about the end of November. ' In: the" Daily Times of the 12th appears an abridged prospectus of Foley's Extended Gold Dredging Company. This claim is situated on Fcley's Creek, and cuts the same aurifeious strata as the Greenstone. The capital is £7000. Extracts from the reports indicate that z the giound is rich. It has been represented to us by directors ol the Central Electric, Alpme Consols, Alpine No. 2, Vincent Extended, Jlelly and Casey, and Halfway House Companies that our Clyde mining correspondent has no ground for his opinion that • there doesn't appear to be any likelihood of the many dredges now under construction on the river between Clyde and Cioinwell getting to .york before next winter." Tne fact is that the Central Electric dredge is expected to be at work before the' cud of the present month, providing that the balance of the machineiy comes to hand this week. The Alpine Consols dredge will be ready to start in two months, and tenders have been called for the ejection of the Halfway House machinery (which is all ready), and it is expected that the dredge will start m two months' time. The Aloinc No. 2 and Vincent Extended dredges aie als~o in a forwaid state, and it is expected that they will be leady during October. As for the Kelly and Casey Company's dredge, the various contracts were let in January last, and since then the directors have presisteutly urged the contractors to expedite the work of construction, even offering them a special inducement to do so. Although the contract time for the pontoons does not expire until November ], the builder anticipates handing them over nearly a month beiore that date, when the erection of the machinery will be at once proceeded with. Tne contractors for the lattei- expect to have everything ready for a commencement well 'before the end of December. Their co.itract date is January 17. -in Auckland telegram states that the Crovn mine's "return for, August from 2940 tons treated is bullion valued at £5774. The Whangamata Gold Corporation return for August irom 900 tons was bullion valued at £939. -At 'the monthly meeting of the dnectors of the Crcmwell Gold Dredging Company, held oiir ihe 12th, a dividend oil 5s per share was declared, payable on Saturday, and a reserve fund to meet contingencies and equalise dividends was initiated. This must be satisfactory to the shareholders, especially in view of the fact that upwaids of £2000 ot capital expenditure has been paid out of the gold return?. The Dredgeniaster ot the Electric Company wired on the 12th that he had washed up 22Soz. This information is subject to confirmation. The secretary telegraphed to the dredgeniaster, requesting confirmation, but the reply did not come to hand last night. The secretary of the Alexandra Lead Gold Dredging Company has received the following renort from the company's engineer: — Ladder, buckets, and machinery (A. and T. Burt) : The ladder i« practically^ completed, with the exception of rollers, which are being fitted together. Buckets : These have all been riveted together, bored, and are ready for bu3hhig. Connecting ' links are finished. Machinery: Top tumbler, v/ith shaft and spun wheel, rope wheels, and almost all the other gear, finished. Screen and condenser and friction gear under construction and nearly completed. Elevator and winch (J. M'Gregor and Co.) : The elevator flaming i& finished. Buckets all riveted together; links riveted on, or started boring out same. The mountings for elevator lollers, gearing, etc., aie all towards completion ; winch is progressing. Boiler and tables (Dunedin Engineering Cocapans') : Boiler under constiuction, and they nave been urged to put through this work as soon as possible. Pontoons (Knewstubb Bros.) : The "framing is well up, and they are planking same. 'Mr F. W. Payne, the engineer to the Morvcn F-erry Gold Dredging Company (Limited) reXJorts that the construction of the pontoons is progressing satisfactorily. The machinery, 'which, is m the hands of the Otis Company, is finished. The ladders are being fitted up with rollers; the screen plaies are punched, and are being rheted. The condenser and heater axe nearly finished, and the eletator frames are finished, and are being fitted with rollers. The buckets are being pushed rapidly ahead, and the bucket pms ha^e been ordered fiom Hadfield's, and are expected to airive at an early date. The winches are all flamed up. The beaiings and shaft are fitted, and other portions and ali tho machinery is leady for assembling. The question of licensing stock and share biokers (says the Australasian oi Ist September) has cropped up agpin in Melbourne. This probably arises from an attempt by the local Stock Exchange to confine all stock and shaie business to its members or to its authorised * jobbers. Not a few of the public favour the licensing proposal, and among mining men, Mr J. P. Lcmergan, pi ior to his dejiarture for London, called out for action in this direction us a necessaiy icforni. He thought th?t if an )uctioneer had to pay a license fee before he could conduct a sale, how much more necessary was it to license biokers, who daily had 'Hie handling of thousands worth of the money of the public The two businesses sire so dissimilar that the analogy was far-fetched." What Mr Loncrgan aims at really is to divide the brokers and the jobbers into sepaiate classes, mid to limit each to its particular sphere. To \lo this would be to hit hard conic of the most prominent members of the Slock Exchange — indeed, unless lobbers were to- be excluded altogether the whole institution would have to fe- remodelled, with business conducted someVrhot on the lines of the London Stock "Exchange, where a mcmb°r may be either a broker >r a jobber fortnight about, but must not com\\ine the 'two capacities at the same time. But .is far as the inipositioa of a license fee' goes, \ts payment is not likely to ensure honesty in \Ualing if a sense of morality is absent. The Alpine pontoons are now repaired (says ,'he Cromwell' Ai-gus), and the dredge is lying »ut in mid-atrrnm. It is expected that she vl'ill bs pble to r.ta:t work by the end of this Veek or the begiliumg cf next. The Miller's Flat co~3 esuonclent of Ihe Tua-« tieki Times says- — The Majestic and Golden fep'i co:it actors have f.,of strong bodies of men yuttirg on their ni'chmciy, and if nothing u-i-Vpected inteu .uls the&e dredges should be

ready for work in a few weeks. — The quantity of dredging material that is daily landing and passing up through here is something enoinious, and it still appears that neither the foundry proprietors nor waggoners aie able to cope with the :nci easing demand. The loads just now are m splendid condition, and the waggoners are taking full advantage of them." A mo3t unusual object was brought up from the bowels of the eaith in the buckets of the Charlton Creek dredge the other day m the shape of a set of artificial teeth. The owner has not, fo far, been diedged up. — Matiura Ei sign. The Cromwell Argus says: — "The futility fiii'l absurdity of tlie wholesale suing %,hich some companies have resorted to, is amply shown by several facts that have come to our notice recently. In one case a youth in his teens is the proud holder of £900 worth of shares. Others whose incomes are barely sufficient to keep them have enough stock to considerably burden a man with a good busine&';. The companies are merely throwing awaj good money after bad, and are not a whit .noic likely to get their capital called up. Suspension or volu'ilary liquidation seems to be the two most sensible alternatives." The Nekon Colonist says a cablegram has been received in Nelson stating that a second deposit of £500 hns been paid by the syndicate which was formed in Melbourne for the purpose of acquiring the Aniseed Valley copper mines. The legal manager of the company, Mr Lf.v. son, will arrive in Nelson shoitljv when preliminary operations will be commenced. A notification appears in the Daily Times concerning the Craig's Freehold Gold Dredging Company. The capital is £30,000, and piovides for the construction of three dredges. Some 3000 share? have been reserved for Dunedin. It is stated that £1000 worth of gold has"been obtained during the last" eigho weeks, and that without a dredge the company could pay dividends on royalty from the tributers. The final shipment of machinery for the Golden Falls Dredging Company is on board the Talune, which arrived at the Bluff on Thursday. Over 35 tons of machinery for the Arthm's Point Gold Dredging Company arrived at the Bluff on Thursday per Talune. The Manager of the itloi.dyke dredge wiics the following from Matakanui: — "Struck wash; prospects better, opening out.' The Secretary of the Sailor's Bend Conjpany has received the following report fiom the companj''s engineer: — Machinery and erection (Stevenson' and Poole) : The whole of the machinery, gearing, etc., as well as the housing material, has been sent away, and, with the exception of the lower tumbler, pinion, and friction race, and steam and exhaust pipes, these are all that are icquireri to complete the contract. The wmch was tried under steam, and lips been despatched to the claim. Mr Scott, who is erecting, has a gang of men at work, and is progressing very ia\ourab!y with same. The items mentioned a& being required to complete the contiact will be sent away in a few days. Captain Suu'J3lioin, the c-hali-man of directois, is visuling the cipini, and_ wul report early next v, eek. The statutoiy meeting of .shareholders of the Civde Collenes Company was held oa Thursday. Tlie follcvinr diicclois wore elected for iho ensuing yea*' — Messrs J. G. Say. ell, J. Rhode?, O. Dav,-son, W. G. Somervilie, E. Ackroyd, and F. W. Gray. Mr G. Duncan was appointed auditor and Mr L. f>. "Reeves secretary. The Secxetaiy of the Moke Creek Gold Dredgina Company iepo-l? that a shareholder recently paid a -dsit to the claim, in consequence of heprmoc &o much about the natural difficulties which, it was alleged, would have to be contended with. Report had it that the claim was inaccessible by load; that every piece of mnchmoiy would have to be taken up by pack hcises; and it was further affirmed that the claim was situated in a rocky gorge, too nairow to be dredged. The shareholder in question, after a careful pe-'onal inspection, found that these lumours were utterly without foundation, and his visit has pioved to his entire satisfaction that there is a good sleigh road, Bft wide, along which he had no difficulty in cantering on. horseback; while the claim itself, over which he walked from one end to the other, is, in his opinion, an ideal dredging claim, with benches on one side or the other sti etching over thiee-fourths of its length. In no one place is the width of the river less than 30 yards — and this only in about five chains — while for the remainder the width varies from 50 to 65 yards. There is not a single rock or Boulder to be seen in the'bed of the claim. The shareholder in question has had a large and varied experience in dredging claims, and in his opinion, as far as dredgeableness is concerned, he prefers the Moke Creek claim to many others, and believes there will be no difficulty in dredging it. From Staircase Creek up to about 300 } r aids above Moke Creek the Shotover is neither narrow nor confined by walls of rock. From both sides of the stream the rise is gradual, and not in any way precipitous. Local residents have a high opinion of the claim. The directors of the Electric Gold Dredging Company have declared a dividend (the sixth) of 2s per share, payable on Wednesday, 19th inst The directors of the Vincent Gold Dredging Company have declared a dividend (the fifth 1 * of 2s per share, payable on Monday, 17th inst. At a meeting of directors held on Friday iv the Upper Waipori Alluvial Gold Dredging Company a dividend of Is per share was declared, payable on the 21st inst. An erroneous inmression appears to- have gamed currency with regard to the question of the riparian lights on the Charlton Creek, and this has prejudicially affected the quotations for shares in dredging companies which hold claims there. As a matter of fact, the number of fanners who are interested is small, and the maximum amount which, if filtration should piove impossible, would have to be paid m compensation to them in settlement of their clnras is quite mco/isideiable. The proposals of the farmers, which have been put in writing and communicated to 'the five companies that have been formed to operate on the Charlton Creek, show this conclusively. The amount which hss been asked as compensation by the farmers, to enable them to secure a private water supply in substitution for the water which, they contend, would be polluted by the dredging, is only some £1100, and if this should h.sve"to be provided by the mining companies the amount which would have to be paid by each of the five companies would, it will be seen, be not much ovei £200. Messrs Joseph Sparrow and Sons, the contractors for the Bald Hill Flat Freehold Company's dredge, report that the whole of the machineiy, except the boiler, engine, and centnKigal pump, has been despatched to the company's claim, and that Mr James Donald is now pr»\3aring to start with the work of erection. Four waggons .will be constantly employed carting the machinery until it is all delivered on the claim. The pontoons are completed, and were launched in June last. Wo are advised by the Secretary of the Cromwell Company that the dredge was stopped for nine hours on Thursday thiough the bropkmg of a piston ring. The Electric Extended Company's dredge engineer supplied the needful, and the dredge was sooa at work again. The Secretary reports the prospects very good. He also informs us that the dividend warrants have been posted to all shareholders. An extraoirliiiaiy meeting of shareholders in the Golden Star Dredging Company was held at Roxbmgh o*i Thuisday evening (Mr E. Hart in the chair), when a motion " That tlie comp-

any be wound up voluntarily " was carried. Another meeting to confirm the above resolution and appoint a liquidator was fixed for October 11. j The Zealandia Syndicate have an announce- I mcnt in the Otago Daily Times which should | interest directors of di edging companies who , ha\'e oidered dredges, but whose claims have | not turned out so well as was expected. The i syndicate aic prepared to substitute claims I which have been thoioughly teatecl by their own experts and then value for dredging demon- ] strated by shilts or boring. The Secietaiy repoits that the return fiorn the Golden Kun pipes lasi week was 530z. The secietary of the Bannockbuxn Creek Company has received the following leport fiom j the company's engineer: — The dam lia& been completed, and the pontoons successfully launched ; but, owing to the non-arrival of the \ nonbark sti±ngeis horn Tasmania until last week, the contractor has been unable to finish the erection of the tumbler fiammg. The engine has arrived, and has been forw aided to Wedderbum. Arrangements have been made to have the boiler on the claim during the corning week, and about 13 tons of machinery have been sent foiward during the last month. Mr Gordon, the contractor ior the pontoons, has been asked to submit a price for the election of the machinery either by contiact or by day labour." The secretaiy of the Voltaic Prospecting and Dredging Company h,as received the following telegram horn Mr Chris. Stevens, who if> acting for the company -washing out the gold as it comes from the bores: — " Two feet- six inches of wonderfully good wash ; depth of water, 16ft ; bottom, hard." This is from the second senes of bores, and, from the telegram, denotes a diEtmct improvement upon the first serifcs, taken about 300 yards higher up the claim, the gold fiom which, when weighed at the bank, repiesented equal to Sdwt to the cubic ya^d. Duimg the progie'bs of the boring pontoons dowu the river the pipes were trailed, and llr Steve.i 3 reports they were on gravel ail the way down, and met with no stones or obsU-clus, and, &o far as they had gone, all was d". edgesible. Mr A. Dime, chairman, and Mr G. }]. Bait, consulting engineer of the First Taicri (>'olcir Dredging Company (Limited) visited the dredge oa Friday and Saturday for the puipose oi s.it't=£ymg themselves with irga.. d to its condition and lh n prospects of iti being early at work, and we understand that they found the mnchineiy working well and that ihe fust opeiatlona in opening out the clam ht>cl commenced. It is expected that steady piog'ess will no-.? be ir.rde in developing a good working fa.cc, the first object being to v. oik acioss the river mid into the beach originally piospected, and which govc encouraging icfuuit. A lleeflon telegram states that the return fiom the Consolidated dredge is 802, for IIS hours. An Auckland telegram states that the return from 950 tops of stone treated by the Talmnsii Consolidated Company was bullion valued at £2278. A meeting of shareholders in the Dunedin Gold Dredging Company will be held 0.1 Friday, 2lst msl. The pontoons of the Maerewhenua Company ■weic launched on Monday. The Secretary of the Leaning Rock Gold Dredging Company (R. A. Mathewson) informs us that the directors ha^e been supplied with the following progress report in connection with machinery and pontoons by the engineer (Mr "F. "W. Payne) — Machinery: T?orgii:g neaily finished; cast.ngs nearly finished; machine work m hand; diop shoot finished; screen nearly riveted up; all plates bored ; condenser riveted up ; tables all punched ; winches, frames riveted up ; machine work partly done; all castings out; grab hooks forged; bucket links forged: intakes finished; patterns complete. The pontoons: The bluegum has friived, and is beiijg despatched to the claim, and v.wk will he comme'icecl on same as soon as sufficient timber is on gioimd. Three sets of boring lods are at work -n the Cardrona Valley (says the correspondent of the Wakatip Mail), and it appears that the ground is much deeper than was anticipated. Bores were put down oa the Scotia claim, and it is stated that bottom was reached in some cases at over 40ft. If such is the case, the ladders of some of the dredges may have xo be lengthened to enable them to work their claimT. The Ciomwell Argus hears that very rapid progress is being made with the erection of the machineiy on the Mexrimac, no less than 15 hands being employed. The dredge will very likely be able to start in a fortnight or three weeks, and will be the first to commence diedginp on the Gibbstoj leach of the river. The Cardrona Valley correspondent of the ~ Wakstipti Mill •-tales that the Cavdroiif" Vallov dredge, the pontoons of which were finished some six weeks ago, is embedded in sludge and gravel, owing to a rise in the Cardrona Creek filling up the paddock into which she had been launched. This will necessitate the work of 1 excavation again. Our Cromwell contemporary is informed that the Upper Magnetic dredge will be moved down to her claim tins week. She has plenty of room to get past the rock which it was reported would block her progress. Dredgeniaster Ray anticipates 110 trouble at all. The Dob=oi No. 2 Dredging Company, whose claim is situated just below that of the Grey River Company, expect to commence operations by Saturday, 29th. " 'The letum from the Morning Star mine for the month was (says the Southland Times) 390z 14dwl "retorted gold fiom 75 tons crushed, this representing 13| days' work. The return would have been a little larger, but owing to the very dry weather no water was available to work the tailing berdans. Tenders are invited for the purchase of the Nil Desperandum dredge as she lies on the claim at' Alexandra. The dredge was designed by Mr E. Robeits, consulting engineer, and is said to be thoroughly up-to-date. The dimensions of the hip clime and other particulars are contained in our advertising columns. The job of getting the Alpme up through the rapids to the quiet reach where she is now moored was one of considerable difficulty (says the Ciomwell Argus). The force of the curlent could only be justly estimated by one who saw the effect "it had on the dredge when passing against the stieam. The engines were tinable to stir the winches, owing to the terrible strain, and had to be supplemented by handpower. Mr Kitto and I 11& ciew, however, got the dredge safely through, after a hard battle. The bow of the dredge was foiced under water, and once the whole deck was nearly covered. The machinery has been taken down and cleaned. A share case of a veiy complicated nature was heard at the Clyde Magistrate's Court on the Bth inst. before Mr F. J. Burgess, S.M. The plaintiff (Mr R. Gilkison) claimed to recover from defendant (Mr W. C. Pitches) £78' 133, and interest, being amount due by defendant for 25 Vincent shares .sold and deliveied at his request, and for which he had not paid. — Evidence (taken in Dunedin) was read as to the transfeis and bhare register from A. E. Cogan (secretary of the Vincent Company) and William M'Lean.— Messrs R. S. Gilkison, ft. Gilkison, Parcell, and Borton gave evidence in support of the claim. — The defence was a denial thai any shares sold by E. Gilkison to defendant remained unpaid for. — The evidence disclosed that 25 Vincent shares had been bought for Mr Laidlaw and paid for by him, but by mistake had been transferred to Mr Pitches without consideration. As defendant relused to admit this and Mr Laidlaw insisted on getting his money back, Mr Robert Gilkisou had advanced the £78 13s to do this, and

h?-l taken over the onus of suing Mr Pitches. ! After a lengthy hearing his Worship gave judgment for plaintiff for £78 13s and costs. j A glance at our list of returns for last week, sayb the Dunstan Times of the 14th mst., shows that the yields are exceptionally handsome. Indeed we think the best that have yet been ' recorded. Though no individual return is of a sensational nature, yet the fact that no less than six di edges -working on the Molyneux River, within a mdius of 25 miles, have in one week obtained an average of 2190z odd should be the means of convincing the most sceptical what a profitable and sound industry dredging, in Otago really is. Out of the six dredges cited no less than £3000 will be distributed to the shareholder, which should have the effect of considerably leheving the present heavy pie&'tire, arising thiough over-speculation (pie-mium-himtnig) and inability to pay calls. A fe wmonths' suspension of floating and calling up is all that is required to allay the present cusis, as there is no doubt but that m that time the dredges at present working will have ■won sufficient gold to pay the majority of calls, v* Inch are now so much in an ear. Three dredging claims of 100 acres each have been applied for at the end of the settlement near the Poinahaka River. If the applications are gianted I understand, says a correspondent of the Clutha Free Press, that pII arrangements have been made to put the diedges on as soon as possible, and as it is well known that this gicund is gold-beaung they ought to -pay well. It will be remembered", w^tt=; ihe Clutha .Leader, that a U\y woeks a o a xho Jtinister for Mij.es had a portion 01. grour'l along the coast fiom Tokomairiro to Catling River prockimed a '-oldfield. It may alto ba remembsied thai DryocUle and puilj'liad previously pegged off a goid-beaiing claim m the estuaiy at Port Mo'yner-x, being the old bad of the liver. Mr Djysdalf has been here, aad went down with Mr Jl. Uri^oi-, who at once made a start to Rurvej the giound. Jt is expected the matter will come before the couit, when the special diedgng license will no iloubt be g. anted. Accordir>2j~"to nil accounts the f respects aie very scUisractoiy, and the compny intend that no tune shall be lost in piocccdi'ig to work. Mr Dunston, t.ssistant m the Queensland ■jcologljal smvey branch, has-reUu-ued to Brisbane after a lengthy vi=it to the dishict iv the neighbourhood of the D.iwsoii and -M'Kcii-ue Ri-ovs.' He was veij '-Ti'jefcSisinl, hiviug founct a huge extci.t of coil-boanng country. The coal discovered is ot great value, and especially curled tot luaime purposes, though useless for sas. The di^coxeues have crralcd a great nnnvuiit of attention in Oential Queensland, laud being taken up in all directions. A Brisbane syndicate hrs perarrd a large tt&efc ot tounl'-v svDecuilly ?avou:ed_in coil depo~u* Tt i« bolicved th.it the coal-bearing aica is at leayt 5000 squai-e miles. A rab'e message !iii been received in Auckland fvom London mt has 1.013 that Mr Charles Rhodes, manager of the Kauri Freehold Gold EstalPS, has been appointed manager of the New Zealand Miacs T;u?t, which means he -ft ill coiiuol the Waih:, Cio.vn, Waitckouri, and oiliei rainos. M. rl'-cJies ..- row in London. The Waihi rtmie 1- fiat becoming one of tne world's grest goid-piodu.-vd. At prpsent it finds employment for 1003 men, all of whom receive a good average ir.te of wages. The pioperty is producing nearly -SIOOO a day. At one time shares could be mvchased at 5d eacn, but the present market price is about £]0. The inti oduction of cyanide is responsible for this success.