REPORTS FROM "WORKING DREDGES.

Otago Witness, Issue 2623, 22 June 1904, Page 26

REPORTS FROM "WORKING DREDGES.

The secretary of the Paterson's Freehold Gold Dredging Company reports the following returns : —No. 1 dredge, 17oz lOdwt for 130 hours' work; No. 2, l^oz lOdwt for 130 hours' work. The return from the Greenstone Junction dredge last week was 17oz Bdwt. A return of 52nz is renoiied from the Mosquito dredge (West Coast) for 127 lurars' wsrk. The wash-up on the Boatman's Cieek .dredge (West Coasfi last week resulted in a return of lOoz for 93 hours' work. The secretary of the Reeves' s Proprietary Gold Dredging Company leports a return of ">soz 13d.wt from the top mats of the No. 1 dredge for 200 hours' work. The return from the Waimumu dredge last week was l 2Soz Cdwt for 113 hours' work, and not 18oz IPd'At for 54 horns, as pieviously leported by the dredgemaster. The return from the Goiden Tieasure dredge for last week was 2Soz — not 3Poz as previously repoited. a mistake ha^ng been made in telegraphing The secretary of the Ourawera Gold Dredging Company leports a return of 218oz Sdwfc 7gr for the four weeks ending 11th in3t. The muster of the Gabriel No. 2 diedge wired vestcrdav to tlic effect that bo le^um^d o">Biat:ors that a^i^rnoo \. 'lhc peeretaTy of tlie Enterprise Gold Dicdgmg Company reports the following ictiuns — No. 1 dredge, 21oz 16dwt 22gr for the week; IS'o. 2 diedge, 15oz 12dwt for four day's work. The master of the No. 2 dredge repoited thai the river was rising. The secretary of the Electiic Gold Dredging Compi'ii leports a return of 15oz lOdwt fiom the No. 2 diedg2 ior 90 hours' woik. The

master of the No. 1 dredge wired that there would be no wash-up this week, and that the weather was veiy unsettled.

The secretary of the Molyneux Kohinoor Gold Dredging Company repoits a return of 220z Sdwt for 120 houis' work. The dredgemaster wired that he had stopped dredging owing to the rise m the liver and that he was troubled with drift

The secretary of the Hceey s Gold Dredging Company reports a return of 390z 4dwt for ]25 hours' woik. Ths dredgemaster wiied that he ■was engaged during the last two shifts bailing tailings. The master of the Golden Gate dredge reports that lie washed up for a return of Boz Sdwfc for three days' work. He also repoitcd that the river was high. Hie secretary of the Golden. United Gold | Dredging Company reports a return of lOoz 2dwt for 90 honrs' work. The dredge was workins; ou the outside lead. The master of the Alpine No. 2 dredge reI'orts that he washed up for a return of 16oz 16dwt 9gr for SO hours' work. It was expected that dredging would he resumed on or about Sunday night. The secretary of the Otago Gold Dredging Company reports a return of 9oz lOdwt from the No.'l dredge for 100 hours' work. Trio dredgemaster -viirecl that the river was high, and he .stopped dredging on Thuisday. The master of the No. 2 dredge wired that there was no wash-up owing to a stoppage csiised by a break mi the winch engine. JJiedging was however, lecunied again. The secretary ot the Moonlight Gold Dredging Company reports a letura of lloz lOdwt lor 100 hours' woik. The dredgemaster wired that ho wad vory much troubled with silt and timber.

The beeiet.u-y of the Cabiiel Gold Dredging Company reports a letum of ]Coz ldwt from the No I dredge, Lawrence. The dredgemasier v/ucd that he had a quantify of clay and silt to contend with aud had several stoppages. 'Ihe dietlgc was cleaning up a corner of the flat by the roadside 'Juimg the week.

The e ccretary of the Rise and Shine Gold Eredging Company leports ti return of 41oz from the No. 1 diedge for 120 hours' work. Tho prospects continued the Fame as in the previous week, 'ihe dredge wa-s stopped on Saturday for repair?, which will take about a week to complete. The No. 2 dredge was idle from Tuesday night last owing to a breakage, which has since been repaired.

The secretary of the No Town Creek Company reports a return of 12oz for 118 hours' work. The dredgemaster reported that he had considerable trouble with timber, and in addition struck a high reef carrying very little gold. After getting past this reef, which will take about a week or a fortnight, the returns should improve considerably. The secretary of the Riley's Beach Gold Dredging Company reports a return of 420z lldwt for four days' work. The dredgemaster wired that the prospects were still very fair.

The master of the Mokoia dredge reports that he started dredging after midnight on Sunday. He washed up for 28oz lodwt. The "secretary of the Nelson Creek Company repoits a return of 117oz for 118 hours' "work. The dredge has been stopped for a few days to repair the tumbler fram.-ng. The secrettuy of the Enfield Gold Dredging Company reports a return of 19oz lldwt 12gr for the week. The ofredgemaster reported that the river was in flood again, and during part of the week the dredge was working £illt.

DUNEDIN STOCK EXCHANGE.

The past week's operations on the share market have been extremely limited, and the general tone very much depressed. This may be partly attributed to the unfavourable state of the Molyneus River last week, and the consequent stoppage or delaying o£ operations on many o£ the dredges on the river. The returns, as could only be expected, do not, with two exceptions, include any above the half century, the Junction Electric and New Roxburgh Jubilee dredges alone reaching that level. The river on Saturday, though still very high, showed a drop of Ift Gin since the pieviou% morning, the exact height ut Alexandra being Bft above the normal mark. Even should the river fall appiecir.bly within the next week there is sure to be the usual accumulation of silt and running drift to contend with The market on Saturday was without interest, but in the majority of cases valups shoved no alteratdon ; while the only shares to receive buying attention were Sandy Points, oi:e parcel of which changed hands, with inquiry for more at the close without disclosing any fuither sellers. Electrics were slightly easier, as also were First Chances and Golden Beds; but Golden Rims, Junction E'ectrics, Majesties, Manuherikias. New Bendigoes, and Unitys wcrre all stationary. New Fomteen-mile Beaches commanded improved inquiry, and holders remaiiiied firm ; while iii Hartley and Rileys, although buyers offered a. slightly batter price and selleis were easier, the margin was again too wide to allow of any transactions restiltInquiry wa~ again made for Alpine No. 2 shaies at 24s 6d, but holders were asking 275, a slight advance on the previous day's price. Bignell's No Towns were placed on the market at 18s Sd without response from buyers, while Central Charltons and Charlton Creeks were sought after at recent rates without disclosing any sellers. Electrics were slightly easier, buyers offering 25s and sellers holding for 275. First Chances were dnquireo for at 15s 3d, but although holders were prepared to accept a price Is lower than that asked the previous day no business resulted. Golden Runs showed no alteration, buyeis again offering 30s, and

I sellers closing at 32s Slightly better inquiry 1 was made for Hartley and Rileys, the price

offered T>eung 5Ss 6d, but holders were pre1 mied to accept 60s, as against 62s for the past ' few days. Junction Electrics were again placed on offer at 5s 3d and Majesties at 4s, without in either case disclosing aiiy buyers. Manuherikias remained firm,, as also did New Bencingoes. KiJey's Beaches were sought after at 9s, but sellers held for 9s 6d ; while in Rise and Shines and Rising Suns the margin between buyers' and sellers' prices was too wida to allow of any business resulting. Moderate buying attention was accorded Sandy Points, a paicel of which changed hands at 225, with a demand for more at a similar price, but theie weie no further sellers.

Bu=incss on 'Change opened quietly on Monday morning, and continued so throughout the day. Electrics showed a slight improvement, and New Fourte.»n-niile Beaches met with better inquiry, but there were no sellers on the market, while Haitley and Rileys were again placed on offer at 60s without eliciting any response. The river showed an appreciable fall yesterday morning, the Hieight at Alexandra being 6ft 0m above the normal mark, or a fall of lft 3in since Saturday morning. The telegram containing the information also str.ted that frosts had set in.

Buyers of Alpine No. 2 shares were slightly easier and sellers slightly firmer, the quotations being — Buyers 245, sellers 273 6d. Electrics showed an improved tone, buyers offering 25s Gd, and sellers closing at 28s. Golden Beds and 'Golden Runs showed no alteration; while Hartley and Rileys wore again placed on offer at 60s, but there was no response from buyers. A parcel of Lady Roxburgh contributing shares was taken up at 2s di 3., and more were sought after at Is dis., but there were no further sellers m evidence. Holders of Nelson Creeks were asking 38s, as against 363 6d on Saturday, no doubt as a result of the excellent return from, the dredge, but buyers' best offer was 31s 6d. New Bendigoes were somewhat firmer, buyers offering 13s, and sellers holding for 16s. Riley's Beaches were inquired after at 8s Sd, and Rise and Shines at 20s 9d, the prices in each case showing a blight easing. The latter shares were procurable at 235, but the margin was too wide for business.

Jane 20. — Lady Roxburgh (contnbutirg), 23 dis.

The following are Monday's latest quotation's, subject to the usual brokerage • — Alpine No 2 — Buyers £1 4s, sellers £1 7s 6d. Bignell's No Town— Sellers ISs 9d. Charlton Creek — Buyers 5s 9d. Chicago — Buyers 3s 6d, sellers 7s cd. Davis's Bend (contrib.) — Sellers 12s 6d dis. DunstiiK. Lend— Buyers 8s 3d. sellers 10s. Electric— Buyers £1 5s 6d, sellers £1 Ss. Ettrick— Buyers 6s 9d. First Chance — Buyers 15s, sellers 17s 3d. Golden Bed— Bujers Ss 6d. sellers 9s. Golden Run— Buyers JSI 10s, sellers dEI 12s. Hartley and Riley— Sellers £3. Inch Valley — Bujers 3s. Lady Roxburgh (paid) — Sellers 17s. Lady Rcxbuigh (contrib.) — Buyers Is dis. Mosquito — Buyers 12s. Nelson Creek— Buyers dEI 14s 6d, sellers £1 18*. New Bendigo — Buyers 13s, sellers 16s. New Fourteen-mile Beach — Buyers £1 6s p. New Golden River (contrib.) — Buyeis par, sellers 2s 6d p. Riley's Beach — Buyers Ss 9d, Rise and Shine— Buyers £1 0a 9d, sellers £1

Unity — Buyers 6s 6d, sellers 7s. June 14. — New Bendigo, lCs ; New FourteenMile Beach. 30s p. ;" New Halfway House, 7s.

June 15. — Majestic, Is; New Bendigo. 15s. June 16.— Golden Bed, 9s; Hartley & Riley, 625; Junction Electric, 5s 3d; Riley's Beach, 9s ; National Insurance, 21s 7£d. June 18. — Sandy Point, 225.