THE WEEK'S MINING NEWS

Otago Witness, Issue 2603, 3 February 1904, Page 25

THE WEEK'S MINING NEWS

January 27. The manager of the Nokomai Hydraulic Sluicing Company's No. 1 elevator reports thct Ihe has finished cleaning for a result of 80cz 9dwt, making a total of 1620z 4dwt for the paddock. He is now shifting the plant, find expects to resume sluicing about Thursday. "Work ds progressing satisfactorily at No. 2 claim. Thanks to the dam, there is a plentiful supply of , water at this claim for the present. The master of the Voltaic dredge wired 'on Tuesday tha.t the rapid was looking easy, and that the river was steady. Tho work of dismantling the machinery was being pushed ahead. ' The short time worked by the Alexandra Lead dredge last week was due to the mishap to the winch, which todlP longer to repsur than was expected. The ground that has to be worked is nearly all silt and tailings which the Molyneux Company's dredge has placed upon the claim, and which will have to be shifted before the solid ground can be worked on the inside. These tailings extend so far into the river that the dredge- is in dead water "when on the edge of the solid ground, and therefore cannot stack the tailings as they are out of the water. The elevator is greatly needed, and it is not expected to be able to •work much further ahead without it. It ds not expected that much gold will be won thi3 week, although 20oz may be obtained from the blowings which are being amalgamated.

Since the machinery was overhauled the I»ady Roxburgh dredge has been running to l>etter advantage, botn the elevator and the screen driver being much, .improved. Bottom •was got on Friday morning, while it wa£ expected to have the paddock cleaned out on Tuesday. The cut was about one and a-half

chains wide, and the prospects were much the Eama as were met with before the holidays.

The river continues falling, and if there was

a certainty of no higher level Toeing reached is low enough for river dredging. It is intended, however, to work the present cut for a week or two in. case of a rise un the river.

The master of tSe Molyneux Kohinoor dredge reports that a piece of old ground was Jnet with last weeE on the east side of the cut, and it was decided to drop back last Monday, and take up a cut in the centre of

the river. The ground was 42ft in depth, and the return, was got from one cut cpenino 1 out. The bottom was inclcned to get harder, and was forming into a chippy reef. The partnership hitherto existing between Messrs Mills and Browne in the hydraulic claim nt Monio's Gully has been dissolved, Mr E. Mills, who has been manager of the claim since

its commencement, having sold out. The purchasers are Messrs Donlan, Morrison, and G. Martin, the sum paid being £1475. The claim is now in four equal shares, Mr E. Browne retaining his share of one-fourth. Mr J. Kemp, who has been working in the Golden Crescent mine all along, has been appointed manager. He thoroughly understands hydraulic sluicing. The company intends to enlarge its zace without delay.

January 27. The msster of the Hartley and Riley dredge Seports that should the river continue falling at the present rate the dredge will in all probability resume work early next week.

The Aldinga Gold Dredging Company has recently acquired a considerable area of additional ground adjoining the original claim, and it is anticipated that this will prove a valuable asset and extend the life of the company for several years. Our Clyde correspondent wires that the Monte Christo dredge is pieparing to resume ■work.

"he Junction Electric No. 1 dredge resumed derations last Sunday week at midnight, and Vv the following Tuesday bottom was got right „033 the cut, but the ground had all besn c-viously worked with the exception of iichards's Beach. It is expected to strike "univorked ground on tho Bann'ockburn side by the 'end of this week. The machinery and elevatoi tvere running wall. The No. 2 dredge resumed operations last Monday week, bottom being got /on the following day. Tha tjxosnects were fair.

and as the- dredge worked out into the river they improved, but after working across gold and moving ahead it was found impossible to again bottom until Friday morning The cut has since been extended towards the bank on the Cromwell side, the prospects being fair. All the machinery was running well.

The Dunstan Lead dredge had a fairly satisfactory run last week. After work was resumed some time was spent in cleaning out the paddock, which was full of silt. The ground worked was somewhat poor, although it was thought that an improvement was noticeable on Monday last. The master of the Rise and Shine Company's No. 1 dredge reports for last week: — " Distance worked ahead 16ft, width about 50yds, and depth up to 50ft. Prospects continue very fair on the west side, and the soft bottom is widening out. On the east side the bottom is hard, and this part is kept open only for coaling. In tho gut on the west side the bottom is soft red, and within a few feet of it there is a very tight layer, being a kind of false bottom, underneath which there is in abvindancs of ' maoris ' and blacksand, with ' Chinamen ' coming in again."

The Electric No. 1 dredge won her return in 136 hours last week. The best of the gold was obtained on the Bannockburn side of the claim towards the centre of the river The prospects on. the Cromwell side were somewhat poor, while the gold won was of fine quality and weighed well. The distance worked ahead was 21ft, the width of the cut being 80ft, and the depth varying up to 35ft. The dredge was working well. The No. 2 machine was undergoing a number of repairs until Wednesday afternoon, when work was resumed close into the Bannockburn side of the claim. Bottom was got at a depth of 41ft. The prospects were poor, but improved as the dredge worked towards the centre of the river. On Saturday morning, when the mats were washed, the gold obtained "was of the same nature as that formerly won higher up the claim. A small proportion of coarse gold was got in the return, but th-e bulk was fine. The rivsi: was favonrable for dredging.

The New Roxburgh Jubilee dredge was working in the river last week, making room for the tailings. It was intended to start yesterday to work into the bank again. Trre ground worked by 'the Island Block dredge last week was much the same as that previously deatt with. A considerable amount of trouble was experienced on the sluicing claim through the pipes on the main line bursting on three different occasions The -second paddock of the No. 2 block was cleaned Tip. and the boxes washed down, last Saturday. There is still another small paddock to- take out.

January 29,

The secretary of the Cromwell Gold Dredging Company received a telegiam from the master of No. 1 da-edge on. Thursday stating that work was going on steadily, and that the prospects were fair. The master of the No. 2 machine whed that the paddock was full of tailings, and that a thunderstorm was experienced on Tuesday and Wednesday.

The master of the Voltaic dredge reports that the dismantling of the machinery was being proceeded with during last week. The river was keeping steady, and the rapid looked as though it could bs crossed if the dredge was sufficiently lightened to enable the attempt to be made. The water in the vicinity of the dredge and round the first bend of the river was comparatively smooth, leaving oniy about two dredge lengths of rough water. The secretary of the Junction Waikaka Gold Dredging Company reports that good progress is being made with the erection of ,the machinery, the pontoons having been launched a fortnight ago.

An extraordinary general meeting of shareholders in the Spec Gully Gold Dredging Company was to have been held on Thursday for the purpose of considering the company's position, but as only three shareholders put in an appearance the- meeting stands adjourned for a week.

The directors of the Mokoia Gold Dredging Company have issued a circular stating that owing to the Feddersen Gold Dredging Company having failed to deliver their dredge on the date stipulated the arrangement to purchase has fallen through, and that it will not, in the meantime, be necessary to issue the 3000 preferred ordinary shares created on October 16, 1903.

January 30. The Blackwater River dredge was on good wash last week, working towards the east side of the claim, and it is hoped that operations during the present week will also result in a good retnrn.

The Moonlight dredge had a fairly good run last week, and a lot of stuff was put through, though the return was somewhat disappointing. "Work was confined to the right hand corner of the face, and this probably accounted foi the shortage in the yield It is expected that a better return will be furnished as the -iresull oi this week's work.

Last week's return from the New TVoodstock dredge was 13oz 4dwt, and not 30oz as previously reported, a mistake having occuired in transmitting the return from the claim. The dredge was running well last week, but, owing to the dry weather, water was very scarce, and unless rain fell it was doubtful if operations could be continued until the end of this weak. The company has purchased the Leviatheu dredge, and it is intended to remove the eng'ne and boiler to the New Av oodstock claim.

The North Beach dredge was undergoing a number of repaii3 last week, and it is cxp?ct~d to have everything ready to resume operations by the time that a tumbler that was despatched from Dunedin on Thursday, iarives at the claim.

The secretary of the Lower Enfield Go^d Dredging Company lopoits that it has been found necessary to suspend opeiatiojis 1 1 the meantime.

The Three-mi'e Greenstone dredge wai vcrking abcut half the face l?st week. The grcund was very loose in places, and sz boi^dera were not so numerous a large sircuit of material was put through. Towaids t'.e end of, tks week the £ro.u-t><3 was looking -uall, but

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at Icadt.

Tha aeoieliiy of the Sullivan's Le-d Cod Dredging Compar y received a te!egi<irn ficm ihe mas'.er on Fncliy statn.g that it was intended to wash-up on Saturday. Tho dtr-Oge was tunning well, and the clut looked premising.

The Aldinga dredge had a poor mn Isst week owing to th 6 number of sunkon kigs and large stones feat were encouiiteied, nr>d also to the fact that a nnnibsr of minor stoppages were caused thiough hsvirg to repair parts of the mpchineiy. The dredge was workirg m the right hand corner of the south section, and, when the lost inn.c is token into consideration ihe return must be considered a fairly good one. It was decided to commence opeiations or. the left hand section in orJrr to prevent blocking and to give time to get more timber cleared.

The following items are taken from the Cromwell Argus: — The Remarkab'es dredg° at the Nei-is has been stepped for a few days, pending the arrival of a new winch pinion from Dunedin. — Water for sluicing at the Aevis is running short. Unless a change takes place very soon work will have to cease. The Nevis River is so low thdt it can be easily waded at the crossing by Ritchie's, which is by no means the shallowest part. — Mr George Goodger has been appointed dredgemaster of the Alpine Consols. — The Lech Lomond is still engaged ooening out. She bottomed in one corner on a soft reef carrying payable gold.

The Ladysmith Gold Dredging Company washed up on the 23rd inst. for lOOoz 17dwt of. gold. Since the previous wash-up (on December 10) considerable time has been lost owing to the holidays, the high river, and shifting the plant, and consequently this is considered a very good return. There has been a plentiful supply of water so far.

February 1

The return from the Sandy Point dredge last week was 28oa 15dwt. The dredge was cleaning the paddtock most of the time since starting, and has only bottomed half the cut yet. Water is very short owing to the dry weather. "AH the machinery was working well.

The good opinions held regarding the value of the Manuherikia claim when tne company bearing that name was formed -was amply justified last year, when, notwithstanding the unfavourable condition of the river, a number of veiy handsome returns were obtained), enabling the directors to declare dividends reaching a substantial amount in the aggregate. The action of the dnectors m having the ladder of the dredge lengthened prior to the commencement of last season was most commendable, and) but for their foresight probably but very little headway would have been made during the year. The quantity of gold won last year was 21840z 9dwt 7gr, valued at £5302 11s 6d; or abotit 170oz more than during 1902, when, it will be remembered, the river was very low for many months. Since the dredge started work 91460z 6dwt 9gr of gold, valued at £35,245 7s lOd, have been won ; while the total expenditure from the dlate of registration until the end of last December was £17,240 Is fid, of which £2113 4s 2d represented last year's ou.tlavDuring 1903 dividends to the amount of £1 2s per share were returned to shareholders, who have now received £1 143 pec share, or a total sum of £20,400. On December 31 the company had a deposit of £1000; while the liabilities amounted to £90 2s 6d.

The New Alpine Consols dredge is generally one of the first oil the Moiyneus to be affecled by a rise in the river, and for this reason the season of 1903 was most unfavourable for the successful working of the claim. Owing to the continuous fluctuations in the height of the river btit little work could be done, and even what little could be accomplished was not satisfactory owing to the prevalence of cixift. The quantity of gold won last year was only 2710z 18dwt 18gr, valued at £1060 14s lid, and the total yield from the date of the registration of the company (July 3, 1902) until the end of last December was 8270z 13dwt 4gr, valued at £3117 15s Id, and produced at a cost of £5528 Is lid, of which amount £1490 7s 3d was spent last year. No dividends were declared last year, ancil up to the present the sum of £926 15s has been returned to shareholders. Scarcely any work was dene during the latter half of last year, and only 91oz 7dwt 13gr of gold, valued at £372 6s sd, were obtained after the end of June. In consequence of the unexpected bad season the finances of the company are not buoyant at present, the cash in hand amounting to the very small sum of 3s 3d; while the liabilities reach an aggregate of £152 0s 3d. When working under favourable conditions this company's dredge got some very good) returns, but this is another illustration of how the fate of companies is entirely dependent on the vagaries of the Molynetix River, which for uncertainty it would be difficult to eclipse.

A start was made to dismantle the machinery on the New Fairdown dredge last Friday. The secretary of the Waikaka United Gold) Dredlging Company reports that there was no wash-up on either of the machines last week, as both were undergoing repairs. Work will probably be resumed some time this week. There was no wash-up last week on the Golden Bed dredge, as the bottom tumbler only left Dunedm on Thursday last. The dredge is expected to start working again to-day. The master of the Oceanic Staam dredg-e is still engaged in sinking shafts for the purpose of prospecting the ground ahead. It is probable that efforts will be made to raise funds for the purpose of shifting the dredge across the claim to test the new ground.

The New Golden Beach dredge is now fitted with a sand ptimp for removing silt, and it is expected that she will be working again this week

A Beefton telegram states tliat the return fiom the Keep-it-Dark mine for January was 3980z of gold from 812 tons of stone, in addition to which 108oz were obtained by the cvamde process.

The Mokoia Gold Dredging Company's dredge struck some very rich ground in the early part of last year, and the returns that were obtained improved the financial position considerably, four dividends being paid within a comparatively short space of time. The prospects "for a time were very good, but afterwards the returns fell away, and for some montli3 the results have not been so satisfactory. There is 'always the chance, however, that rich grouud may be again stnick at any time, and that the company, which passed through many vicissitudes before the dividend-paying stage was reached, will yet prove a good investment for tbe patient shareholders. The statement of affairs of the company shows that the quantity of gold obtained last year was 15710z 15dwt lOgr, valued at £6106 16s Id, and produced at a cost of £3818 Is Bd, win's the aggregate yield fiom the commencement of operations until the end of last December was 37450z 1 Idwt 10gr, vauled a€ £14 158 7s, and won at a total cost of £19.228 9s sd. Up to the present the fuih of £1025 has been distributed m dividends, lepresenting 4s per share on tho ordinary shares ard 5s per ~haie on the preference shades. On December 31 the compstiT had £613 2s l^d m the bank ojoA fsnn on deposit, while the sum, of £& 6s 5d

v.^s o\vir;g to the cempary. as ngair°t which the ii-bi'i u-j imouiiied 10 £56l 7= 7c!. A iia.f vi.ir y !/j a.iCe sheet for the pciiou (.i.a'-d Oefei..bir Jl sh-\\3 in*t duiiug tlis jaUcr L.iif oi it isi yeA ths. I'icdge won 4^Joz IGdwt o r . i;o'd, a allied at £]7aß 18-, Bd. whils tho sum ol £10 v:ii rece.vcd 1.1 the shape of interest. The expo :c!uure foi the sauie period, inc'udirig maintenance and stcies, and an appropriation of ±150 foi the purchase of ground from S. Bernhaidt, was £i! 01 2s 7d. Ihe cost of maintenance and stores wa3 £Gl9 11s lid, and in this connection it may be mentioned that tho diedge has been thoroughly overhauled, extensive lenewals having also bern effected. The renewals included a iiew screen and a drop sheet. The dredge is now said to be in perfect order, and veiy little expenditure in upkeep should ba , necessary for some considerable time. February 2. I Msssrs James Samson and Co. will offer lor

sale at their 100 ms en Saturday, 13th mst., the Trafalgar Gold Dredging Company's dredge and claim in the Mawheracui distuct.

Nearly all the returns ob^aznsd by the New Eoxburgh Jubilee Company's dredge last year v. ere very satisfactory, and, as good working time was put ir>, the year's operations resulted very piofitably for shareholders. The gold yield for the year was 1878oz 7dwt 6gr, valued pt £7317 7s, and the total production from the time dredging wa a commenced until the end of December last was 33390s 16dwt 12gr, valued at £12,969 17s 4d. The total expenditure until the close of last year was £7199 10s 4d, of which sum £3130 8s 6d was spent last year. The contributing shares have been called up to 12s 6d each, and up to the present the sum of £7190 11s has been distributed in dividends. On December 31 all the liabilities had been paid, and the company had a deposit of £1000, and also £286 16s 5d in the bank.

There was no wash-up on the New Halfway House dredge last week owing to opening out.

There was no wash-up on the Junction Erectric No. 1 dredge last week.

The Waimumu Extended dredge resumed operations last Friday, a lot of trouble being experienced in getting the tumblers keyed up. The ground is very hard, and in consequence very severe on the machinery. It is thought that the long spell of dry weather has had the effect of making the ground so hard. The North Beach dredge has made very satisfactory progress since operations were commenced, and after wiping off a considerable amount of liabilities the directors have been ablte to declare dividends to th-e extent of 7s per share. The aggregate yield for last year was, however, less than that for 1902, the returns having been smaller than usual during the past few months, though they have always been sufficiently large to leave a fair margin over working expenses. The quantity of gold obtained last year was 14030z 18dwt 18gr, valued at £5468 14s 9d, and the total production up till the end of last December was 31740z Idwt 13gr, valued at £12,333 18s lid, the aggregate expenditure up till that date being £16,450 3s lOd Six dividends of Is per share each weTe declared last year, making, with one declared m 1902, a total return of £2913 15s to shareholders. On December 31 the company was free from liability, and had a credit balance of £665 2s sd. The secretary of the Watterson's Ahauia Gold Dredging Company reports a return of 13oz 16dwt for 121 hours' work. The master stated that the dredge had not bottomed, and that two shifts were lost owing to the flood. The secretary 01 the Walks ka United Gold Dredging Company reports that the No. 1 dredge resumed operations an Tuesday, and the No. 2 on Saturday. Both machines have been undergoing repairs. There wa« no wash-up on the Reliance dredge last week owing to the crown wheel having broken.

Mr Joseph Sparrow, of the Victoria Foundry, has been very fortunate with his latest dredgraging venture. We reported in a recent issue that the Endeavour dredge, which he recently acquired at a liquidation sale, obtained 51oz of gold for three days' work; and last week the return was 86oz for 130 hours' dredging. We do not think anyone who knows Mr Sparrow will begrudge him his good fortune. The Champion sluicing claim recommenced work on Monduy morning.

A Beaumont coirespondent informs us that the river is very low just new — almost as low as it was last winter

The master of the Majestic dredge repoi+s that the piston in the low press cylinder of the engine gave out last Tuesday evening, about six inches of the outer rim collapsing, and doing injury to the piston rod. A new piston ajid rod were placed m position on Saturday morning, when dredging was again resumed.

The master reports that there was no washup on the Nugent Wood dredge last week. He stopped on the 21st ult. to line-up the bottom tumbler, and 1 at the same time give the machinery a general overhaul. He recommenced dredging at mid-day on. Wednesday last. " *

The annual meeting of the Upper Waipori Gold Dredging Company was held on Tuesday noon. In the absence of the chairman (Mr T. Brydone) Mr A. Bathgate presided. The report and balance sheet were adopted on the motion cf the chairman, seconded by Mr James Hazlett. The retiring directors — Messrs Bryckme and Hazlett — were re-elected, and Mr A. W. Hogg was elected to fill the place on the board made vacant by the death of Mr James Hogg. Mr T. S. Graham, was reappointed auditor.