MINING AT WAKATIPU.

Otago Witness, Issue 2455, 3 April 1901, Page 23

MINING AT WAKATIPU.

(By Our "Wakatipu Correspondent.) bracken's gully, arrow river. Bracken's Gully, one of the principal tributaries to the Arrow River, was rushed simultaneously with the Arrow. The crowds flocking m October and November, 1862, from the Dunstan rush, dropping over the Crown Range, mistaking the gully for the river they were t>ound for, set id to work, and found gold nearly everywhere at a shallow depth from the surface. What lent a charm to the discovery •when found out was that the gold was coarse, end even naggetty. A little township sprang up, and the gully, the easily-worked portion of which is only short, was soon overrun, and, after the aotion of the day, worked cut, leading people to leave the locality. The gully was almost deserted, a few sticking to it because ths ground was shallow, and after a while, when floods swamped the miners out of the rivers, there was a revival at Bracken's. Some of the heavier specs were taken in hand and turned out very well," the gully proving quite ostrich, if not richer, than the river, and for a -number of years the place supported a numerous population. Of those remaining and pinning their faith, to the gully are ITESSRS KRE2TEB AND PLATOW, holding a fine water light, which is also the highest in the district. "During the melting of the snow on the Crown -Range the race runs i'bout nine heads, and in the summer months the quantity never falls below five or four heads, being fed by large swamps and numerous little gullies. The party have also two large, well-tested storage dams, which have done service for considerably upwards of a quarter of a century. There is a very large extent of ground to work near and above what is known as the "Saddle,"' carymg gold in a conglomerate, which by many is looked upon as the origin of alluvial gold. Similar deposits are found near the heads of nearly every gold-yielding creek or river, and have proved rich 'in the precious metal. All this deposit and also the rest of Bracken's Gully, is at a level to be commanded by Messrs Bremer and Platow's water, ant! besides it commands the Crown Terrace and a good few miles of the Arrow River and •what terraces there are. The party about 25 years ago attacked an old river bed of the main creek, which was known to be rich in gold, and obtained some very good results from their work. When the ground got too heavy and deep they tried sonic easierworked terraces. About three and a-half years agj the fancy took them to go back to their old love, and after spending neaily two years cleaning out and extending tailraces, packing up and placing in position a pipe line 300 ft in length, laying down a tramway 400 ft Ishg for the transport of stones, etc., they made a start with work at the face. The ground is about 12Qft deep, and stony at that, blocks of rock measuring 30ft long and nearly as many feet •wide and thick, occurred in whole families and colonies, having to be blasted and sent away by the tramway. The work told on the two men, who are both old Victorians, and about half a. century miners. But in spite of pains and aches that made themselves felt, they keep going by the force of habit rather than by a reserve of physical strength, or the power of recuperative energy. The outlay on the claim has been heavy, as everything had to be packed on horseback to Bracken's Gulty, about 3000 ft above sea level, a distance of about one mile as the crow flies. However, age would not be cheated, and told against the yield, as hardly could have t>een expected otherwise. Yet never daunted they keep pegging away undismayed by slips coming down, bringing with them stones the size of a 'house. It happened only the other day that such an occurrence took place, requiring nearly two months for its removal, the stones having to be blasted, then broken up with hammers, until they are small enough to be sent down the tailrace. And this goes on day after day for months at a stretch. The water is applied under a pressure of 150 ft vertical head, and though there is generally speaking plenty of fall in Bracken's, it 'has to be made available under such conditions as the present, causing "a good deal of hard labour. Messrs Bremer and Platow's hearts are bigger than their physical power can back up. Their property would suit a couple of young, steady men, *who could make a comfortable living, and lay by a nice competence for their later years, besides growing a valuable property, as the water in 15 or 20 years will be a good many times its present value, there being ground enough to work with profit to last a couple men a century. MESSRS m'IEAT AND GIBSON. This party also have lived and mined at Bracken's Guly for a matter of 25 years, working the gullies and deposits of auriferous w*sh lying at the foot of the Crown Range, which encloses the whole of the watershed of Bracken's basin, the largest and most important, one m the range. The ground generally is free of large stones and heavy wash, and ■with the available fall is easily worked. Estimating the ground turned over by the party during their residence, it cannot be far short of 20 acres. There does not appear to be any defined run or lead, the rock being furrowed by channels of varying depth, which carry the gold, and the extent of ground to work is considerable. The party hold a water right for four heads, and during pprmg and early summer the supply is ample for all purposes, but during the dry months it falls off to one head. To eks out the supply Messrs M'Leay and Gibson have constructed two large reservoirs, and are now busy constructing a third one, to hold about 20,008 gal of water. Th« three dams aie situated at different levels, so that when the (highest one is filled the surplus water runs into the next, and from that to the new one, now in course of construction. The arrangement of fee dams is such that any of the three can be used separately, or the water from all three may be combined as one head, m -which case the supply would last for a good few hours as a 12 or 16-head stream. About 630 ft of 7m pipes are oa the ground. They are in 12ft lengths of 16 gauge iron, so that they are easy of being moved to any position required. The nozzle is on the ball and socket principle, and there are interchangeable jets of 2m and 2Jin, to be used as desired. The. fail in the ground gives a vertical pressure of aOOft. For gold-sa\mg purposes patent Tipples, perforated plates, and cocoanut matting are used. The excavation of the dam now building is made to seive the purpose of prospecting the ground, and not without success. A nugget ■weighing loz sdwt was picked up the other day, and other samples of nice rough gold have l>een got in different paits of the workings. Generally speaking the party are well satisfied ■with the profits made out of the ground, the returns running rather better than miners' ■wages. Like the former party mentioned, Messrs M'Leay and Gibson are getting into the sere and yellow leaf, and aie no longer young. More active men would do comparatively much better in the came ground.

MESSRS COTTER AND MORAN. This party aie engaged m an exceptionally difficult piece of work, one that few men, indeed, would undertake. Rather bettei than two years ago Mr Richaid Cottei, sen , of Airowtown, an old Ballarat miner, and one ot the very eailv pioneers of the Wakatipu, obtained an exceptionally good prospect in a slip thpt had been pieviously vorked, in a drive put in for the purpose of seeing if the:e was any solid ground lett. The dine proved not only that there was solid giound, but also that it contained good gold From the course of the wash it was infeired that the preiious paity had lun off the gold, losing it thicugh a turn in the creek bed. The prospecting drive not being deep enough to dram the giound, it was useless to continue it, and it became necessary to bring up a fresh elrive at a. lower level, which would mean consideiable labour and expense. Mr Cotter, having Mr D. Dunn for a mate at the time, proposed to start the woik at once, but Mr Dunn, preferring another show he had at the Shotover, left for that place, and Mr Cotter commenced the herculean task by himself. After lighting with loose ground and big stones for nearly a year, Mr Michael Moran, a miner of the early days of the Arrow, joined him in the work. To understand the difficulties there are to contend with, it must be mentioned that the slip covering the auriferous wash is an immense one, with stones of enormous size and great hardness. It lies in a narrow and rock-bound part of Bracken's Gully, where the fall is very flat for a long distance, so that the stones, after they have been broken up, must be piled up to something like 10ft and 12ft above the bedrock of the creek. What this means in labour only men who .have had similar work to do can estimate. Piling up stones, in this way is the slowest and hardest work a man can do, and little else than the hope of getting gold will induce him to do it. The amount of it that has been done by Messrs Cotter and Moran is simply amazing, and may be judged when it is stated that the former has been at it two years and the latter one year. The object of the work was to bung up a covered tailrace on the bedrock until the solid wash was met, and work the ground by driving. The difficulty was getting through the slip, as it was more or less wet and of a clayey nature, so that it was bad to keep up. Slip after slip came down, calculated to try the patience of an anchorite, sometimes completely filling up the excavations already made; but nothing daunted, the work was begun afresh And this was repeated dozens of times, until a hole had been made in the original slip, totally altering the physical appearance of this part of Bracken's Gully. When the struggle was nearly over, Mr Moran was overtaken by sickness of a serious nature. Fortunately he is now convalescent, but it will take several months before he will be anything like his former self. During his mate's sickness Mr Cotter worked away by himself. Through th» slow progress one man under such conditions could make, another slip has come down before the covered tailrace could be iomeel to tha face,' which, if done, would end all trouble. The danger now is that unless the work is completed in this niaamer before winter sets in another year will have to be spent, through slips coming down, before the work is in the same state it was m a few days ago, or it will have to be abandoned altogether, and the two years of labour put into it entirely 'lo3t, to say nothing of the cost of tbe work. And such is gold^mmmg in the twentieth century. The above recital ia a, good illustration of what individual gold mining has come to. There are now no other likely places left excet>t such as are surrounded by exceptional difficulties of various kinds, and it requires such ohick and perseverance as Messrs Cotter and Moran have displayed to face them. SCOTTISH CHIEF DREDGING COMPANY. The annual meeting jof the Scottish Chief Dredging Company was held at Lawrence on Thuisday evening, when there were present — Messrs ti. Hart (chairman), Wm. Wood (Uunedin), D. Fraser (Tuapeka. Mouth), A. Maedonald, F. Vivian, Geo. Leslie, Wm. Adams, H. Hart, and J. C. Arbuckle. A large number of shares were represented by proxy. The report was as follows. — " The machinery is now completed and shipped from Glasgow, and the timber for the pontoons is lying at the dredge site, and the building of the same will be proceeded with at an early date. If arrears of calls are paid promptly no time will be lost in pushing on erection ot dredge. In common with many other companies, your directors have found it difficult to get in the calls, and have placed the matter in the hands of their solicitor for recovery — with, good results. The arrears on the Ist January were £3528 15s, and now they stand at £2100, and legal proceedings will be taken for recovery thereof. In several casea shareholders have asked time, promising payments by instalments, and these requests have been, whenever practicable, complied with, as your directors do not wish to act harshly , but the time has now arrived when they are compelled to adopt strict measures. The claim is one in which we have every confidence, and we are most anxious in the interests of shareholders to have the dredge working at as early a date as possible; but to do this it is absolutely necessary that shareholders should pay their calls regularly in order that no financial delay may occur in carrying out the necessary work to a completion." In moving the adoption of the report and balance sheet the Chairman stated that the machinery had arrived from Home, and would be forwarded to the claim without delay. The whole of the timber for the pontoons -was lying at the claim and everything m readiness to make an immediate start with their construction. The shareholders could therefore see that it would not take long to have the dredge working if the calls came in promptly, but the directors had decided not to incur liabilities in excess of the capital that came m, so that if delay occurred they would recognise it was the the fault of the dilatory shareholders and not the directors. As to the merits pf the claim, in his opinion it was a very promising property, containing, as it did, a very large area of both river and beach capable of being worked winter or summer, and any shareholder with any knowledge of mining visiting the claim cauld not fail to come to the same conclusion. Mr W. Wood seconded tbe motion. Mr D. Fraser endorsed the remarks made by Mr Hart, and, speaking from his local knowledge, he thought there were few, if any. claims which would prove a greater success than the Scotish Chief. Other shareholders having expressed themselves in a similarly hopeful manner in regard to the prospects of the claim, the motion was put and carried unanimously. Messrs B. Hart and Wm. Adams were reelected directois, and Mr J. C. Arbuckle auditor. On the motion of Messrs ATbuckle and Vivian a hearty vote of thanks was accorded to the directors for their valuable services during the past year. GOLD QUEEN DREDGING COMPANY Thp second annual nieetmE; of the Gold Queen Dredging Company was held fin Friday evening last, those present being Messrs T. Lodge (chairman), A. C. Broad, J. Wardell, D. White, E. Hart, H. Adam, and T Scoular. The diractors, m their report, stated that the dredge started work on 23rd July last, but own g to the faulty working of the machinery during the first three (months many stoppages occurred, »ad by the time things were getting

into fairly gooft woiking order the mcr had risen, thercbj necessitating the diedge being i emoved from the middle to the side and bank of claim, v here she has since been working, with at times fan'y good ie&ults. The expenses of management, maintenance, and working since the d'edge started p\erage £52 15s per ■week, oi roughly 13Joz, which compares favourably with othei eh edges of a like capanty. Now that eveiyLhmg m connection with the dredge is woikmg more satisfactorily, and the river gradually f<d'irn, the directors hope to fee tlie diedge opetating in midstream at no distant date, and with much better iesult« The Chairman biieflv moved the adopt. on of ths leport, which v.as agreed to. M>s=r, T Lo-Ige and J. W.udMl mcie reelected dnectors, anel Mr James Blown was re-elected aud'tor A CORRECTION. TO THE EDITOB. Sih, — Kindly allow me to put your Gore correspondent right about names He refeis to the portoons of the Junction Waikaka. Those are i ot the Junction pontoons, but the portoons of the adjoining claim, the Waikaka Gold Diedgmg Company — I am, etc., J. J. Ramsay, Secretary Junction Waikaka G.D.C. Dunedm, March 28. FOURTEEN-MILE BEACH. ' TO THE EDITOR. Sir, — In refeience to the letter of ' Wearied '' m Tuesday's Times re Fourteen-mile Beach Dredging Company, I am another of the same opinion, and can confidently say that good time has been lost through want of energy on the part of the directors. Now that the river is almost normal, the dredge shou'd be working and taking advantage of the low river, instead of going to rust through being idle. If the director" knew the ground the same as I do they would not lose so much valuable time in getting a start. I am quite certain if anything is going to eclipse the Hartley and Riley it will be the Fouiteen-mile Beach or the claims that adjoin it, as I have worked all over the ground, and with a good kiw liver have j made as high as £35 per week per man with the old cradle piocess. What will a machine like the present up-to-date dredge get, that puts through thousands of tons in a week? I should not be surprised at 2000oz for a week's wash j up, and would strongly advise shaieholders not to sell at the* present ridiculously low price in the Fourteen-mile or the claims that adjoin, for immediately a start is made and the first wash-up they will treble themselves m value. All I can say is that the directors iiiould have a little more "go m them, and liven things up, and make use of the low river.- — I am, etc., An Old Fourteen-mile Cbadlep. Timaru, March 22. LEES FERRY GOLD DREDGING COMPANY. TO THE EDITOR. Sir, — A= present and former directors of above company we desire to make known clearly to the shareholders of the company and the public the reason why the late directors brought before the shareholders yesterday the proposal that the company should go into voluntary liquidation. When the directors were appointed at the first general meeting a recommendation from the shareholders to the directors was made not to proceed with the ordering of a dredge until the Grey River and Dobson No. 2 dredges had proved the Grey River to be suitable for dredging. When the Grey River and Dobson dredges had proved +he auriferous nature- of the Grey, and it became known that these dredges were too light and the ladders too short, the directors considered it advisable that the claim should be bored, with the result that the claim was bored to an average depth of over 30ft, and proved utterly valueless as a. dredging area. The directors of the company also became aware that they had at their disposal under £5000 to build a dredge for this claim, which, as business men, did not commend itself to them, as the amount was entirely too small m their opinion. We also desire to mention the fact that to collect the amount of allotment (Is per share) has taken the secretary, with the assistance of the company's solicitor, some six months, and still some remain unpaid. Perhaps some financier can calculate the length of time it will take to collect a further 18s per share. We intend forwarding a copy of this letter to every shareholder in the company. On the face of such a report, prolonging the liquidation is bound to increase the losses ofthe shareholders, and the only people left to benefit are the promoters and the secretary, who is the Dunedm manager for Messrs Cook and Gray. In this connection we need scarcely point out that Mr Howes, who took such a prominent part at the recent meeting of shareholders and got himself appointed (on his own proposal) as a director by means of a block vote from the proxies of the paid-up shareholders, is m the employment of Messrs Cook and Gray. Further comment is superfluous.— We are, etc., Wm. G Somerville. C G V. Leijon. Herbert E. Easton. Dunedin, March 27. TO THE EDITOR. g IRj — As my name is mentioned in a postdated letter published in your issue of this day's date over the signature if Messrs Somerville, Leijon, and Easton, two of whom ceased to be directors of the company on Tue&day last, the 26th mst , will you kindly allow me to re-p-y? It may or may not be necessaiy to liquidate this company m the near future. The claim was favourably reported on by a well-known expert when floated (vide prospectus), and it was an understood thing that the directors should await developments on the Grey River as far as possible, and when satisfied prospects were ripening, take further steps. The chairman of dnectors jumped prematurely and employed Mr Chester to boi^ and report on the claim, and his report is, on the whole, unsatisfactory, but not conclusive, and pgainst that of Mr John Don. I am of opinion that it was the duty of the directois, seeing that reports i were conflicting, and on other grounds, to take further means of ascertaining the value oi otherwise of the claim before trying to force the company into liquidation. The shareholders may rely on the present directors doing their best in the true interests of the company, and if the claim is anything approaching a duffer it will meet its fate in due course , but the deduction has not yet been proved. A property which may be valuable should not be thrown away until due efforts have been made to arrive at a just estimate of its value. The shareholders would certainly lose more if matters are unduly forced on as against the holders of vendors' shares than they would be likely to do m case the claim is proved, to the satisfaction of. the holders of vendors' shares and- the majority of shaieholders, to be not worth working, and had the affairs of the company been administered wisely by the act-ing-directors, I quite believe the risk to shareholders up to the time of commencing active operations or otherwise liquidating need not to have exceeded 2s per share In the last paragraph of the letter referred to is a statement which in intent is untrue, but I exoneiate Mr Leijon, who was not present at the annual meeting, and because I consider h« acted without knowledge o! the

tiue facts of the case. But the two other late dircctoib pip well awaic of the facts I was rot e'ected as a director by mepns of a block vote from the proxies of the paid-up shaicholders as owners of vendors' shares, but it is true that my supporteis were all ahaieholdeis who hid paid their dues to the company. Messrs Easton and Somerville hold 300 shares between them, and secured 300 votes, being a vote for e?ch share held by themselves, but lot a «ingle \ote from any othci shaieholder. Mr Pearce and myself polled 3985 votes, of which number 1560 were .from holders of vendors' shaie3. Certninly furthe. comment, at all events on this point, is superfluous. A a deal of misrepresentation affecting my fiim has been made with regard to the expenditure .of this and other corn-Dames during the time they have Yen m the hands of their directorates, I appeiid r detail statement of the pio/it and loss accoy it fov the period ending 28th February, 1901, of this, particular company in question, and which balance sheet has been duly audited and passed in general meeting —

GOLDEN CHAIN GOLD DREDGING COMPANY. TO THE EDITOR. Sir,— Can you furnish me with any information regarding the doings of the Golden Cham Gold Dredging Company' At the last annual meeting, held towards the end of last year, the leport stated that the dredge would be working early in the new year, which has now gene th'-ee months. Thj shareholders naturally like to hear now and again what is being done with their money, and we do not hear a word about the progress the above company has made. I would suggest that the secretary should gi\e reports to your paper letting shaieholders know what is being done, as it would save him a lot of time. — I am, etc., Fifty Shakes. [The following information is supplied from the secretary's office' The pontoons are planked ancl ready for caulking ; the top framing is well forward , the engine is on the claim , the wmches are well advanced towards completion , and th.c machineiy contract is in the hands of Mr John Anderson, of Christchurch.— Ed.] THE PREMIER WAIKAKA DREDGE. TO THE EDITOR. Sir;, — I see by to-day's paper that >cur Mataura correspondent say 3 the reason the Premier Waikaka dredge closed down is the great depth of clay, and goes on to state that the wash, though very rich, is very shallow. As a matter of fact the wash is very poor In some places it was between 6ft and Bft in depth, but has run out to about sft. In no pait worked or prospected, -which includes several acres, would it have paid even if the washdirt had been 12ft deep. I may also point out that the dredge was built on the boundary of the two claims referred to, and that all the Premier Waikaka' s ground is ahead of the dredge, and that there have been 12 or 14 prospecting bores put down to test the ground, and about three acies worked, all with the same unsatisfactory result. Your correspondent fuither goes on to say that the ground 300 yards away might be rich enough to yield from 30oz to 40oz of gold per week I may state that 300 yards is a long stretch of ground, and m this case it would roach from one boundary of the claim to the other. It is absurd talking about 300 yards. Perhaps your correspondent would be good enough to tell the public how much it would cost to dredge through 300 yards of a clay bank. We should have taken no notice of this coirespondence but for the fact that it is very misleading to the public, and might raise false hopes about this particular claim, and cause the shareholders to waste more money in trying it. As a matter of fact we know positi ;ely that it is utterly worthless, and that the manager did quite right to nd\ise the directors to stop any further work and expense. — We are, etc., E. C. Reid. Dredgemaster Premier Waikaka. H. W. Parsons, Dredgemaster, Waikaka. George Lee, Dredgemaster, Waikaka. LAFRANCHI'S FREEHOLD DREDGING COMPANY. TO THE EDITOR. Sir,— l notice the abo\e company has been unfairly commented upon m your columns lately. It appears that if a shareholder has 25 shares m a company and cannot meet his calls, his only relief is to wute the claim down in the press, and then cry " Liquidate!" Let us see how liquidation ' pans out in the above company The following costs will have to be met — Cash payment to vendor, £2000 , expenses of company to date, £C 25,2 5, deposit on engine and boiler (forfeited if not taken delivery of), £100, loss on machinery contracts, if sold (estimated), £300, engineer's commission (estimated), £300, liquidators' fee, £30,— total, £3375.

Tir" on a capital cT BCOO cl« tribulmg shaic^, me?n<? Si 6id per sr-^re. But mark, supuosii,g shareholders holding, say, 1000 shires, paid tip to 2s at thi most, are unable to pay further calls, it i~ plain the balance required would have to be four.'i by t u o v * mam ing 7000 shares. The result of -this would ' 9 tin* 7(X shares would have to p=y 9s 'Hd per s^a. j, r.nd 1000 rha'es 2s per share Seven thousand shures lose £3275, and 1000 shores £100 A clear case of those who have no money to lose compe'hn"- those who have to lose it. As the laigest; contributing <-haieholder in the company I dcc l me to do business on these lines Against liquidation let us view the other side. We have about GO acres splendid dredging ground, wpII prospected I), eight shafts (which. ?re left ope.i for inspection), giving the high. n\ erase- cf 21<*i to the cubic yard This ia sureh nch enough for any dredge to be placed wpon. Further, the Lafranchi's sluiced half an acre, with a lesult of 4600z gold for the 13 000 vaids shifted, which is equal to 17gr per cubic yard. Again, 4600z to half an acre is equal to 55,2000z for 60 acres, assuming the ground wa& equally nch. The prospecting report shows the ground is not equally rich , we will, thcrefoie, cut this down to the large extent of 75 per cent. This gives a return of £53,475 woith of gold when the claim is worked out. Deduct from this £8000 for coal, wages, wear and teai, which leaves a net result of £45,475, or r.ea-ly £4 per £1 share m five years. This result is quite pood enough for me, and I have shown my faith m the claim by taking 450 shares. I have also persuaded my friends to take £1000 amongst them. My position in connection with the claim is a responsible one, and to think of liquidation in the way suggested is absurd. Myself and friends aie quite piepared to risk our money on what, we know, and will take another 250 shares at 9s 4d discount — liquidation price. I sympathise with the Alexandra shareholders in their difficulty, but I regret I cannot agree to their proposed scheme. Holders of the 7000 remaining shares should attend the annual meeting in April, when all the information asked for will be cheerfully given. Those who cannot attend should appoint one of the directors as proxy, when their interests will be safeguarded. Shareholders will remember that shares have ro voting power unless the calls ore paid on them. Scrry for trespassing so far on jour valuable space — I am, etc., J. J O'Connob, Juw., Burkes, Dunedm, March 30. REPORTS FROM WORKING DREDGES. The secretary of the Golden Bed Dredging Company reports receipt of a wire from the dredgemaster announcing a return oi 290z gold for three days' dredging. The secretary iep*ort& that the return from the Morning Star dredge is 20oz for 94 hours' fo>- the week ending Friday, 29th March. The Pleasant Valley Gold Mining Company washed down on Thursday for 19oz of gold for two weeks' work. The Meg and Annie return was 61oz 2gr, nofc 630z as published. The secretary of Central Electric reports an additional return of 12oz 6dwt 22gr, making a toal of 670z 9dwt 12gr for 120 hours' work. The secretary of the Alpine No. 2 reports a return of 270z 12dwt 16gr for 91 hours' work. According to the Grey River Argus, the return from the Ford's Creek dredge for the week ended March 16 was 6oz lOdwt 6gr. The secretary reports a return from the Earnsclcugh No. 2 dredge of 88oz for 120 hours. The secretary of the Cromwell Gold Dredging Company reports a return of 4fioz 6gr for 140 hours' work The secretary of the Waimumu Gold Dredging Company reports a return of 330z 16dwt for 120 hours' dredging. The secretary of the Otama Gold Dredging Company reports a Teturn of Soz for last week. The secretary of the Waimumu Queen Dredging Company reports a return of 17oz 17dwt lOgr for 123 hours' work. " The secretary of the Waimumu Central Dredging Company reports a return of 19oz lOdwt for 122 hours' dredging. The secretary of the Golden Bed Dredging Company reports a return of 590z lldwt for the week ended on Saturday. The secretary of the Miller's Flat Electric Dredging Company reports that the dredgemaster washed up after reopening paddock and working for four and a-half days for soz 12dwt of gold. The secretary reports that the Golden Link dredge obtained 14oz for 142 hours' work. ' The secretary reports that the Manuherikia dredge washed up 20oz 12dwt 4gr for 69 hours' di edging. Mr Laurence Ryan, Alexandra, reports the following returns for last week— Perseverance dredge, 720z 3dwt , Molyneux Hydraulic dredge, 240z odwt. The dredgemaster reports that the Golden Gate dredge obtamed 28oz 18dwt for last week. River falling. The secretary of the Enfield Company reports a l-pturn for la=t week of 220z lOdwt for 136 hours' work. The dredgemastei of the Clyde Dredging Company telegraphs as follows — " River 4ft above normal , very little bottom worked during the week; return, Baz " The dredgemaster of the Matau Dredging Company lepoits a yield of 520z for eight day 3' dredging. The secretary of the Olrig Dredging Company leports a return of 14oz 7dwt for 124 hours' work. The dredge will be stopped two or three shifts thia week for repairs. The secretary of the Electric Gold Dredging Company reports a return of 3550z IVdwt. The secretaiy of the Waikaka Forks Gold Dredging Company reports a return of 15oz lOdwt for 126 hours' dredging. The secretary of the Magnetic Gold Dredging Company leports that there was no wash-up last week, as the winch-bracket was being repined. Start Monday morning. The secretary of the Junction Electric Gold Dredging Company reports a return of 390z for three and a-half days' work. Ground rough. Mi J. J. Gibson, Lawrence, reports the following letmna for last week — Success dredge, 240z ldw t 6gr for 131 hours' work , Lawrence di<sdge, 15oz 13dwt. The secretary of the Majestic Drdegmg Company reports a return of 21oz 3dwt. The secretary of the Empire Dredging Company reports a return of 81oz 13dwt. The secretary of the Blue Duck Gold Dredging Company is in receipt of the following wire from the dredgemaster — " Taken cut 14ft deep

icross dam ; little fine gold ; now 6ft lower, with solid surface; little fine gold showing." The secretary of the Second Magnetic Dredging Company reports a return of lloz Cdwt for 112 hours' dredging. The secretary of the Tuapeka Dredging Company reports a, return of 19oz 14dwt for 120 hours' dredging during last week. The secretary reports that the Ngapara Ao. 3 dredge obtained 7oz last week, 'working m old ground. The secretary of the Nevis Dredging Company reports a return of 420z 3dwt for 115 hours' dredging. The secretary reports that the Meg and Annie tlredge obtained 50oz 3dwt 12gr for last week. The secretary of the Charlton Creek Dredging Company reports a return of 20oz for 133 hours' worl:. The secretary of the Waimumu Extended Dredging Company reports a return of 13oz Bdwt for 126 hours' work. The secretary of. the Electric Extended Dredging Company reports that there was no washup last week. The dredge is opening out a cut. Messrs Reeves and Co. report leturns of goia from the following dredges for the week ended 30th ult.: — Enterprise No. 1— 560z 14dwt for 132 hours dredging. , Enterprise No. 2— 280z 2dwt 6gr for 94 hours 'central Electric— 67oz 9dwt 12gr for 120 hours' Sredging. Alpine No. 2— 270z 12dwt 16gr for 81 hours dredging. Vincent -Extended — 7oz lldwt. Opening out. The secretary reports that the Vincent dredge afd not wash Tip last week. Ground deep; opeping up. The dredgemaster of the Arthur's Point Gold Dredging Company reports : —Started working shifts since Wednecday opening up paddock. Have got down to false bottom about 34ft, but not carrying much gold. It will take another week to open up paddock, and dredge will be in. the river by ihat time. Will be stopped on Saturday to log steam pipes and alter bridge in boiler. The dredge working well. The dredgemaster of the Central Charlton Dredging Cmpany reports no wash-up this week. The bottom tumbler shaft bioke on Monday last, and cannot be replaced until early this week. There was co wash-up on the Chicago dredge last week. The secretary of the Golden Beach Hydraulic Elevating and Dredging Company reports that the dredgemaster expects to complete overhaul ©f dredge and start work on Monday next, April 1. The dredgemaster of -the Golden Fain dredge reports that he did not -wash-up last week. He is working through tailings towards solid ground. The dredge is working well. The dredgemaster of the Moa Flat Company wired on Saturday :— " Finished shifting tc-day ; start dredging Monday. ' The secretary of the Mokoia Dredging Company reports a return of 340z. The secretary of the Leviathan Dredging Company reports a return of soz Odwt 17gr. The Upper Waipori Alluvial Gold Dredging Company (Limited) obtained la?t week 270z 12dwt of gold for 129 hours' dredging. The Gabriel Gold Dredging Company's return for last week was lloz 19dwt. The dredgemaster of the Globe dredge (Waikaka) reports a return of 9oz Idwt 18gr for tKe week ended 28th March. The secretary of the Nelson Creek Dredging Cbnjpany reports a return of 31oz for 134 hours' dredging. TJie secretary reports that the Dobson No. 2 dredge obtained lOoz for 127 hours' dredging. '-The dredgsmasier of -the Galvanic dredge wires .as folja^a;. — "Washed up 30z." •The secretary of the' Evans" Flat Dredging Company reports a return of 13oz 6dwt for the ■week enoVd Saturday rast. •The secretary reports that 'tiiie Chatto Creek irill not wash up till Saturday Tiext. THE WEEK'S DREDGING RETURNS. During the week ended Monday, April 1, leturns -were reported from ■the following 44 dredges,, the total yield being 1.6080z Odwt 18gr, or an average of 360z per dredge . —

DUXEDIN STOCK EXCHANGE. Ihe following sa'es were made during the 'yarch 26.— Giand Junction, 5a 6d; Trafal-

gar, 7s; Woodstock, 3s 4Jd— premiums ; Alpine Consols, £2 2s 6d and £2 3s; Alpine No. 2, £2 10s, £2 10s Gd, £2 lls 3d, £2 lls 6d, and £2 12s, Central Electric (10 shares), £4 2s Gd, £4 4s, and £4 4s 6d , Electric, £2 9s and £2 9s 3d , Electric Extended, £2 3s, £2 3s 6d, £2 3s, £2 2s 6d, £2 2s 3d, and £2 2s; Enterprise, £6, Fourteen-mile Beach, 30s 6d , Galvanic, 18s; Gibb's Beach, 16s, Gold King, 365, Golden Link, 18s 3d, Hartley and Riley, £6 14s, Kelly and Casey, 36s ; Maori Queen, 345 , Mokoia, 24s 6d and 24s , Naumai, 18s 6d and 195., Nelson Creek, £2 18s , New Alexandra, 12s and lls Gd ; Roxbuigh Jubilee (paid), 21s, Secor^ Magnetic, 31s, Upper Magnetic, 33s 6'l and 32s 6d , Vincent, £2 5s , Waimumu, 255. March 27.— Buller Junction, 10s and 10s lid , Woodstock, 3s 6d — premiums, Alpine Consols, £2 2s and £2 Is 6d , Alpine No. 2, £2 lls, £2 lls 3d, and £2 9<s Central Electric (five and ten shares), £4, £3 18s €d, £3 18s, £3 16s, £S los, £3 16s, £3 15s 6d, and £3 15s 3d , Charlton Creek, 32s 6d , Dobson No. 2, 12s ; Eclipse, 31s and 30s ; Fourteen-mile Beach, 31s 6d and 325, Gentle Annie. £2 Is 6d , Gold King, 16s; Golden Link, 19s, Halfway House, £2 3s 6d; Inchdale, 13s 6d; Kelly and Casey, 35s 9d, 35s 6d, and 355, Leviathan, 21s; Long Valley, 295, Magnetic, 30s ; Mokoia, 24s 6d ; Nelson Creek, £2 18s ; Sailor's Bend, 36s and 355; Upper Magnetic, 30s 6d and (10 shares) 335; Vincent Extended, £2 Is 6d ; Waimumu, 255. Lower Enfield shares were sold at Is discount. March 28.— BuHer Junction, 10s 6d; North Beach, 3s ; Pactolus, 28s 6d, 28e— premiums ; Alpine Consols, £2 Is 9d; Arrow Junction, 22s 6d and 21s; Central Electric, £3 17s; Dobson No. 2, 12s, 12s 3d, and 12s 6d , Electric, £2 10s ; Electric Extended, £2 4s, £2 6s, £2 6s Gd, £2 7s 6d, £2 Bs, £2 9s, £2 8s 9d, £2 9s, £2 8s 6d, £2 5s 9d, £2 5s 6d, £2 5s 3d, £2 5s 6d, £2 6s, £2 as Bd, and £2 6s , Fourteen-mile Beach, 31s ; Ge«tl« Annie, £2 2s and £2.1s 6d; Gold King, 16s; Gold Queen, 26s and 25s 9d; Grey River Consolidated, 13s 3d ; Kelly and Casey, 34s 9d, 34s 6d, 34s 3d, 3*3, 33s Sd, 32s 6d, 31s 9d, 31s Gd, 30s 9d, 30s 6d, 30s 3d. and 31s; Magnetic, 303 and 295; Miller's Flat Electric, Is Id; Kichards's Beach, 4s;. bailor's Bend,. 355, Second Magnetic, 30s and 30s Cd ; Three-mile Greenstone, 21s; Upper .Magnetic, 29s and 29s 6d ; Waimumu, 255. Teviot shares were sold at Is 6d discount. March 29.— Buller Junction, 10s 6d; Callaghan's Cieek, 4s lO^d; Pactolus, 27s and 26s 9d- Victory, 8s 9d— premium; Aldmga (paid), 21s 3d ; Almne No. 2, £2 7s, £2 6s 6d, and £2 Gd ; Central Electric (10 shares), £3 16s Gd, £3 17s. £3 16s, £3 15s Gd, £3 15s, £3 14s 9d. £3 14s 6d, and £3 13s; Dobson No. 2, 15s; Electric, £2 lie; Electric Extended, £2 ss, £2 4s 9d, £2 4s Cd, £2 4s 3d. £2 2s 6d, £2 2s 3d, £2 2s, £2 Is, £2 0s 6d, and £2 0s 9d ; Enterprise (5 shares), £5 17s ; Fourteen-mile Beach, 32s 9d, 335, and 33s 6d- Galvanic, 245, 24s 3d, 245, 23s Gd, and 23s 3d; Golden Bed, 26s 6i, 26s 9d, 275, 27s 9d. 27s Gd, 28s, 27s 9d, 28s, 275, 26s 9d, 26s 6d. and 26s 9d, Hartley and Riley, £6 lls 6d , Kelly and Casey, 325, 335, 33s 3d ; Leviathan, 235 ; Magnetic, 275 ; Majestic, 275 , Merrimac, 245 ; Otama, 2s, Sailor's Bend, 37s 6d , Smith's Creek and Banr.ockburn, 14s , Upper Magnetic, 28s 3d, 28s, 27s 9d. April 1. — Ahaura River, 6s; Alpine Consols, £2 Is and £2 0s 6d ; Central Electric (10 shares), £3 14s; Electric Extended, £2 Is 3d, £2 Is, £2, and £1 19s 9d; Endeavour, 20s 6d", Fourteen-mile Beach, 33s 3d, 335. and 32s 9d; Galvanic, 20s; Golden Bed, 27s 6d and 27s 9d; Kelly and Casey, 32s 9d; Mokoia, 24s 6d and 255; Morning Star, 6s; Isfew Alexandra, lls. April I.— Alpine Consols. £2 Is and £2; Alpine No 2 £2 7s , Central Electric (10 shares), £3 135.- £3 133 fid, £3 Us, £3 13s, and £3- 13s 6d; Dobson No. 2, 13e 6d - T Electric, £2 13s and £2 12s 6d • Fourteen-mile' Beach, 325, 32s Sd, ami 335; Golden Bed, 28s, 28s 3d, 27<j 9d, 27s 6d, ard 27a 4id,, Gr»lvanic, 21s, Golden Lmk, 21s; Junction Electric, 31s 6d ; Kelly and Casey, 33s and '32s Gd; Nelson Creek, £3 2s 6d and £3 3s; New Alexandra, 12s and 12s 3d; Otama, 2a; /Second Magnetic. 22s 9d and 30s ; Vincent Extended, £2. Mo-lyneux Kohinoor shaies were sold at 3s discount. The following are Monday's latest quotations, subject to the usual brokerage — Ahaura Kiver— Buyers 4s 6d, sellers 6s. Aldinga — Buyers ss, sellers 5s 6d p. Alpine Coiieole— Sellers £2 Is. Alpine No. 2— Buyers £2 7s, sellers £2 7s 9d. Arrow Junction — Sellers £1 ss. Arthur Point— Sellers 18s. Bannockburn Creek— Sellers 15s. Bendigo — Buyers 4s 9d, sellers 5s p. Blackwater — Buyers 3d dis, sellers par. Buller Junction — Buyers 10s, sellers lls 3d p. Cairnmuir— Sellers £1 10s. Central Electric— Buyers £3 13s 3d, sellers £3 ]4s. Charlton Creek— Buyers £1 lls 6d, sellers £1 l»i. Dobson No. 2 — Sellers 15s. Eclipse— Buyers £1 6a 6d, sellers £1 9s. Electric— Buyers £2 12s, sellers £2 13s. Electric Extended— Buyers £1 19s 3d, sellers £2 0s 9d. El Dorado — Sellers par. Enterprise— Buyers £5 16s, sellers £5 18s 6d. Enckson's Reward — Sellers 3s 6d p. Extended Fourteen-mile Beach— Buyers Is, sellers Is 10£ dp. Ford's Crea*— Sellers 10s 6d Fourteen-mile Beach — Buyers £1 13s, sellers £1 13s 6of. Galvanic— Buyers 19s 6d, sellers £1 0s 6d. Gentle Annie— Sellers £2 Is 6d. Glob s Bea<;h— Buyers 15s. Globe— Sellers £1. Gold King— Buyers 16s, sellers 18s. Gold Queen— Buyers £1 6s 6d, sellers £1 8s 3d. Golden Beach— Buyers 19s, sellers £1 Is 6d. Golden Bed— Buyers £1 7s 3d, selleis £1 7s Gd. Go.den Cham— Sellers 3s dis. Golden Link— Buyers £1 0s 6d, sellers £1 Is 6d. Golden Run— Sellers £2 ss. Grand Junction — Sellers 4s 9d p. Great Central— Sellers £1 13s. Great Woodstock — Buyers ss, sellers 2s 6d dis. Greenstone — Sellers Is 9d p. Greenstone Junction— Sellers £1 ss. Grey River Consolidated— Sellers 13s 9d. Halfway House— Sellers £2 2s 6d. Hartley and Riley— Buyers £6 ss, selleis £6 Hokitika River— Buyers ss, sellers 10s p. Inchdale— Buyers 13s 6d, sellers 14s. Inch-holme— Sellers lls. Inch Valley— Sellers £1 ss. Island Creek— Sellers 2s 6d p. Junction Electric— Buyers £1 lls 6d, sellers £1 12s. Kia-Ora — Buyers ss, sellers 10s. Kelly and Casey— Buyers £1 12s 6d, sellers £1 13s 3d. Kohinoor— Sellers 9s p. Leaning Rock — Buyers 10s, sellers 4s 3d dis. Leviathan— Buyers .£1 Is 6d, sellers £1 2s. Long Valley — Buyer 3£l 9s 6d, sellers £1 lls. Lower Enfield — Buyers 3s, sellers Is dis. Magnetic— Buyers £1 7s, sellers £1 8s 9d. Main Lead Hercules— Sellers 2s dis. Majestic— Sellers £1 7s 6d. Maori Gully— Sellers Is 6d p.' - Matau— Buyers £2 Bs, sellers £2 lls Gd. Merrimac — Buyers 18s, sellers £1 4s. Miller's Flat Electric— Buyers 4s 3d, sellers ss. Moa Flat— Buyers £1 Is, sellers £1 4s. Mokoia— Buyers £1 4s 3d, sellers £1 5s 3d. Molyneux Hydraulic Co. Dredge— Sellers £1

Molyneus Kohn.cor — Buyers is, sellers 3s clis. Monte Christo— Sellers £1 14s. Morning Star — Buyers 3s 6d, sellers 4s 9d. Mosquito — Selleis 7s 6d p. Naumai— Buyei-5 18s. Nelson Creek— Buyers £3 3s, sellers £3 1« Gel. Kew Alexandra — Buyers 12s l\d, sellers 13s 3d. New Ri\er — Sellers 10=. No Town Cieek — Sellers 2s 6d p. North Bench — Sellers 23 6d p. Otago— Sellers 19°. Otama — Bujers Is, selleis Is lid. Pactolu= — Bnyeis £1 -ss, selleis £1 8s 3d p. Piemier Waikaka— Buyers Is 6d, sellers 2s 3d. TJeeves Proprietary — Sellers 15s. Itichards's Beach — Bayers 2s, sellers 3s 3d. Sailor's Bend— Buyers £1 17s 3d, sellers £1 19 s 9d Second Magnetic— Buyers £1 9s 3d, sellers £1 10s 3d. Spec Gully— Sellers 7s 6d dis. Te\iot — Buyers Is 6d dis, sellers p^r. Three-mile Greenstone— Sellers £1 03 9d. Trafalgar— Sellers 10s p. Upper Magnetic — Buyers £1 6s, sellers £1 11s. Victory*— Buyers 8s 6d, sellers 9s 6d p. Vincent— Buyeis £1 17s Gd, sellers £2 Is 6d. Vmcent Extended— Buyers £1 19s, sellers £2 0s 6d. \s aikaka Forks— Buyers 7s 6d, sellers 10s. Wciimumu— Buyers £1 3s, sellers £1 ss. Waimurnu Cential — Sellers £1 Is. Wainumu Extended — Sellers 10s. Wainrurnu Queen — Sellers par. Waipttna— Sellers £1 3 s Wareatea— Sellers 3s 6d p. Woodstock — Buyers 3s 9d, sellers 4s 6d p. OTAGO STOCK EXCHANGE. The following sales were made during the week — March 26.— Charlton Creek, 323 3d , Electric, £-2 9s, Electric Extended, £1 3s 3d, Galvanic, 18s 6d , Great Central, 34s 3d ; Halfway House, £2 3s ; Junction Electric, 29s 6d , Kelly and Casey, 365, 36s 3d, 35s Sd, 35s lid, 3Bs. 35s lid, and 35s 9d , Majestic, 2Ss Gd ; Moa Flat, 20s 6d Mokoia, 21s , Sailoi's Bend, 37s 3d. March 27.— Buller Junction, 9s premium. Alpine Consols, £2 4s, £2 ss, and £2 2s 6d ; Cential Electric (10 shares), £4 0s 6d , Fourteen-mile Beach, 31a 9d ; Galvanic, 17s, Golden Bed, 22a; Gold Queen, 275; Halfway Houpe, £2 3s 6d , Kelly and Casey, 34s 9d, 34s 7*d, and 34s 9d , Magnetic, 31s 9d ; Moa Flat, 21s"; Mokoia, 23s 6d ; Nelson Creek, £2 18s 3d. * March 28.— Alpine No. 2, £2 8s; Electric Extended, £2 7s 9d, £2 Bs, £2 7s Gd, £2 7s, and £2 6s M, Fonrre;n-mile Beach, 32s 6d ; Galvanic, 17s ; Golden Bed, 22s and 24s 3d ; Golden Link, 21s Halfway House, £2 2s; Kelly and Casey, 34s 6d ajid 34s 3d; Magnetic, 295; Moa Flat, 20s 9d; Nelson Creek, £2 18s. March 29.— Alpine No. 2, £2 6s 9d ; Charlton Creek, 325, Electric Extended, £2 5s and £2 3s 9d, Fourteen-mile Beach, 32s ; Gentle Annie, £2 2s ; Golden Bed, 27s 3d and 275 , Halfway House, £2 2s 9d ; Junction Electric, 31s 6d; Kelly and Casey, 33s 93,. April 1. — Buller Junction, 10s premium ; Alpine No. 2, £2 6s; Electric Extended, £2, £1 19s 9d, £2, and £1 19s 6d ; Golden Bed, 26s 9d ; Halfway House, £2 2s ; Moa Flat, 21s. April 1. — Buller Junction, lls premium ; Alpine Consols, £2 Is 6d ; Central Electric, £3 14s 6d ; Charlton Creek, 325 ; Electric, £2 lls 9d ; Golden Bed, 28s 3d and 28s ; Golden Link, 20s 6d ; Grey River Consolidated, 13s 3d , Halfway House, £2 Is ; Junction Electric, 31s 9d , Majestic, 275; Sailor's Bend, 335, Second Magnetic, 29s 6d. THE EQUITABLE STGICK EXCHANGE March 26.— Alpine Consols, 40s; Alpine No. 2, 465; Electric Extended, 425, Gold Queen, 26s 6d : Golden Bed, 10s ; Golden Link, 19s ; Kelly and Casey, 36s 6d ; kelson Creek, 58s. B«vers. — Aurora Kiver, ss , Alpine No. 2, 455, Bendigo, 4s 6d p ; Boundary Creek, 20s; Cential Electric. 78s, Cromwell, 80s, Electric Extended, 41s; Endeavour, 18s, Ford's Creek, March 27.— Alpine No. 2, 51s ; Central Electric, 85s; Electric Extended, 41s; Galvanic, 17s; Gibb's Beach, 16s; Golden Bed, 21s; Moa Flat. 20s, Upper Magnetic, 31s; Woodstock, 3s 6d p. March 2S — Eclipse, 28s, Endeavour, 21s; Galvanic, 17s; Gold Kinpf. 16s 3d. Junction Electric, 31s; Moa, Flat, 20s 3d, River Molyneux, 3s 6d p ; Teviot, 19s 3d. March 29. — Electric Extended, 445; Ford's Cieek, 12s 6d ; Galvanic, 17s, 18s Gd. April 1. — Alpine Consols, 39s , Bendigo, 5s 6d p ; Electric, 51s ; Electric Extended. 39s 6d ; Endeavour, 21s 6d ; Galvanic, 18s 6d and 18s Qd; Gold King, 16s, Gold Queen, 265; Moa Flat, 23s , Fourteen-mile Beach, 33s 6d. April 1. — Ahaura River, 5s 3d and 5s 6d ; Alpine Corsol*;, 39s 6d , Golden River, 6s; Meruniac, 23s 6d , Majestic, 27s Gd ; Nelson Creek, 595. A Westport telegram states that the Britannia Gold Mining Company cleaned up 990z gold from 60 tons of stone. A dividend of 4d per share has been declared. The North Otago Times states that the Maerewhenua dredge has ceased operations, and will in all probability close down. The cause of this is said to be the .inability of the diedge, which was formerly the property of ±h" Macraes Flat Company, to reach bottom, and defects in the gold-saving appliances.

Oz. dwt. gr. Electric, Cromwell 355 17 0 Earnscleugh No. 2, Alexandra (120 hou«) . . 88 0 0 EmpiTe, Waipori (two dredges) 81 13 0 and Eiley, Cromwell (136 hours) .. .'. . 77 12 0 Perseverance. Alexandra 72 3 0 Central Electric, Cromwell (120 hourp) . ... 6? 9 12 Golden Bed, Miller's Flat 59 11 0 Enterprise No. 1, Alexandra (132 hours) ' .. .. 54 14 0 Jfatau, Clyde 52 0 0 Meg and Annie, Kawarau River 50 3 12 Cromwell, Cromwell (140 hours) 43 0 6 N«vis, Nevis Eiver (115 hours) . 42 3 0 Junction Electric, Cromwell (3i days) 39 0 0 Waimumu, near Gore (120 hours) 33 16 0 Golden Gate. Miller" 3 Flat 28 18 0 Enterprise No. 2, Alexandra (94 hours) . 28 2 6 Aipine No. 2, Cromwell (9t hours) 27 12 16 trope* Waipori, Waipori (129 ' "'ou-s) .. .. 27 12 0 Mblyueux Hydraulic, Alexandra 24 5 0 Success, Waipori (131 hours) .. 24 1 6 Bnfield, Waipori (136 hours) .. 22 10 0 Msjpstic, Miller's Flat . 21 3 0 Manuherikia, Alexandra (69 hours) ... 20 12 4 Ci'.arlton Creek, near Gore (133 : hours) "20 0 0 doming Star, Manuherikia (94 hours) . . . 20 0 0 Tvipeka, Tuapeka Flat (120 hours) . . ■ 19 14 0 V~-Mmuniu Central, near Goie 122 hours) . 19 10 0 Waimumu Queen, xiear Gore (123 hours) . 17 17 10 Gold Queen, Dumbaiton Rock (90 hours) 17 12 0 Waikaka Forks, Waikaka (I£6 hours) .... 15 16 0 Lawrence, Tuapeka Flat .. . 15 13 0 OlriK, Manuherikia (124 hours) 14 7 0 Golden Link, Alexandia (142 hours) 14 0 0 Evans Flat, Tuapeka ... 13 6 0 Wniniumu Extended, near Goie (126 hours) . 13 3 0 Gabriel. Tuapeka Flat .... 11 19 0 Second Magnetic, Cioniwell .. 11 6 0 Globe, Waikaka 9 1 18 Clyde, Alexandra 8 0 0 Otarua, uear Gore .... 8 0 0 Vincent Extended, Clyde .... 7 11 0 Ngapara No. 3. Nevis River .. 7 0 0 Miller's Flat Electric, Miller's Flat (4i days) 5 12 0 Galvanic, Kawarau j v v Total 1608 ° 18 The West Coast. BullerVmcYion (93 hours) .. 33 0 0 Kelsoa Cieek (134 hours) .. 31 0 0 New River (week) • •• » JJ " ° Dobson No. 2 (127 houis) .... 10 » « Waipuna (week) • •• , ' mr n Reeve 3 Proprietary (72 hours) . 716 0 Leviathan

To brokeiage on flotation £134 7 b (Memo — From this amount Cook and Gray had to disburse a. poition to their agents assisting in the flotation, and no overriding commission is charged.) To paid Tor legistration joint stock company 15 0 0 Conversion to special claim 45 1 3 Law costs (A. Holmes, solicitor) 10 17 0 Registration on Exchanges . . 8 8 0 Exchanges and bank keeping account . . . 0 13 0 Company name-plate and stamp 1 12 0 Petty cash, stamps, telegrams, stationery, etc. (one year) .. 311 4 Wilkie and Co. (printing prospectus, etc.) .£6 11 0 Do printing 2 2 6 Do stationery .. -. 18 15 4 27 8 10 W. G. Somerville (chairman of directors), travelling expenses 5 0 0 Secretary's salary, including office accommodation . . . 68 15 O Directors' lees (one year) .. .. 63 0 0 Total £383 13 11 —I am, etc., Win. Howes, A Director of the Company referred to. Dunedin, March 29.