Notes from Reefton.

Otago Witness, Issue 2541, 26 November 1902, Page 24

Notes from Reef ton.

(From Our Own Correspondent.) REEFTON, November 22. The Apline Company's mine manager leports: — " ISTo sinking has be°n done in the winze this week on accouai of the water breaking in from the old winze. I am pumping the water from the old winze. It is down 28ft, and another 22ft must be lifted to get level with the new winze. The eastern level has been extended 7ft north, making the total distance from the crosscut 41ft. We have holed through to the workings done on the north end of the block when it was first got from the north end to the south face. The block is 80ft, and is still going south. "Work in the south face this week has been confined to taking out the hanging wall side to make room for the foo+> wall mullock north of the main shaft. The face is looking very well, with 3ft to 4ft of stone, and gold can be seen in it. I have stopped crosscutting from the stopes as the country is hard, and th^re Is no room in the stopes for more mullock. I will start two hands on Monday north of the main shaft crosscutting into the footwall." November 23. There is very little dredging news this week. The Buller Junction dredge started work on Tuesday night. There will be no return this week, as the dredge is engaged in cleaning out the face after the flood. The Prem er dredge will soon be ready to resume work, and Feddersen's Company are pushing on the erection of the machinery under the supervision of Mr M'Phail, and anticipate they will commence work inside of a month. Mr Vickers will be dredgema=ter. The shareholdeis are anxiously awaiting the completion of the work, and are confident of success. The mine manager of the B.'g It.ver Company reports having got. gold in a small leader struck in No. 7 level. The public are anxiously awaiting further developments. Stock quotations . —Alpine Extpnded, 4s Cd to 4s 9d ; Big River, 4s 6d to ss . Progress Mines, 19s to 20s; Kirwan's Reward. 9s 3d to 9s 9d ; New Scotia (vendors) 4a to 4s 6d ; do (■contributing), 23 6a to 2s 9d. MOUNT LYELL RETURNS. MELBOURNE, November 20. The Mount Lyell returns from October 16 to November 12 show that 22,711 toii9 of ore In ve been treated, in addition to 4167 tons of metal-bearing fluxes. The converters have produced 433 tons of blister copoer, rontaining — copper, 430 tons, silver, 38,9560z , gold, 13160z. INCH VALLEY GOLD DREDGING COMPANY. The directors of the Inch Valley Gold Dredging Company will submit the following report foi the year ended October 31 to shareholders at the fourth annual general meeting- — " The dnectors regret that the past year has been unfortunate in many ways. The dredge ran into ground carrying a heavy overburden of silt, and a considerable time was spent m prospecting in various directions before she was headed across the river. The dredge, after getting into better ground on the south side, had baiely commenced to secure payable returns when she wis funk, through a stone jarabing in the elevator and staving in a plank. She was quickly raised, but after a few weeks' work wan again sunk, through a similar accident at the other end of the pontoon. She is again above water, being replanked where necessary, and will be dredging again shortly. The prospects obtained recently immediately ahead of the dredge are very encouraging. The retiring directors are Messrs G. M. Grigg and G. M. Marshall, and the auditor, Mr John Davie, all of whom are eligible for re-election." On October 31, 1901, there was a credit balance of £100 1b 6d to profit and loss, and the gold won during the year was valued at £2156 I*B, making, with 5s received in transfer fees, a. total erf £2257 0s 6d, as against which the expenses incidental to carrying on operations amounted to £2112 5s 9d, leaving a credit balance of £144 14s 9d. During the year, however, £250 was distributed by way of a dividend . of la per share, so that there was » 4«bi^ 1

balance of £105 5s 3d to be carried forward. When the books were closed the company had sundry creditors to the extent of £212 19s 6d, while there was £23 7s 7d in cash in the bank.