MINING.

Otago Witness, Issue 2661, 15 March 1905, Page 26

MINING.

. THE WEEK'S MINING NEWS March 8. The meeting of debenture-holders in the New Fairdowu. Gold Dredging Company called for ffuesday afternoon was adjourned until Thursflay next. . An Auckland telegram states that dunng tie four weeks ending February 25, theKomata Jf-eefs Gold Mining Company treated 1320 tons for £3463. The- Alexandra Lead dredgemaster reports Having had a fair run last week. There was, however, a lot of dead work getting the dredge in so as to form a cut. A larger cut was to be worked on, so, if the ground remained tba same this week, it was expected that there would be a larger return. The actual time -worked by the Mystery Flat dredge for last week's return was 188 hours. *Ehe ground was very rough, and the gold i»f a -very coarse sample. Tb.e prospects remained aTsout the same- as in the previous pre«k. x The Moonlight dredgemaster wired the secretary on Tuesday that the old hangers had %»roken and that he had stopped to replace them with the new ones which had just arrived on the claim. The directors of the Bignell's No Town Gold Dredging Company have declared a dividend jfthe third) of one shilling per share, payable on Wednesday, Bth inst., to all shareholders «m the register on the 7th inst. This makes a, sum of £1350 as having been returned to shareholders since registration. The directors iiave also added a sum of £100 to the reserve fund, which now stands at £300. The Masterton Company's dredgemaster reports that he was last week working a big ibody of wash, containing loose " Maori " i>oulders. The dredge was running well and making fair time. The Hessey's dredgemaster, reporting for 3as.t week, stated that he was fully into the tailings where the dredge first started, and ho does not expect to obtain much gold till he gets through them. He might, however, clear expenses, as there were two or three feet of -Jlrash, which he did not touch when opening pnt there. The secretary of the Bignell's No Town Company reports receipt of a letter from the dredgemastex to the effect that the weather- was continuing fine; in fact, a, shower of rain •would be welcome. Timber was giving some trouble on the part of the face next to the road, while the bottom continued very uneven on the same side of the face. We understand that the directors of the Junction Electric Gold Dredging Company have purchased the late Cromwell Company's •No. 2 dredge for the purpose of working the Cornish Town Point portion of their claim, an urea of about 13§ acres. Mr Alr-x. Boss, master tof the Junction No. 2 dredge, is now in charge ibf the Cromwell dredge, and, along with his crew, will commence taking her down the river to the desired spot. As there is nothing in the way likely to cause interruption the task fehould not be a difficult oue. The "Waimumu dredgemaster reports under late 4th March as follows: — "We got started Monday at midnight., after putting on the.

screen sections, and everything is running ■well. I expect to get a steady run for some time now. There is no change in the ground compared to that treated the previous week." The secretary of the Nokomai Hydraulic Sluicing Company has been notified by the manager of No. 1 elevator that sluicing of the top material commenced on the 27th February, and elevating was commenced on Thursday, and good progress has been made. The water supply was slack for a few days, but has now been augmented by a good rainfall. At Kb. 2 elevator the paddock wa-s. completed, and the bottom washed for 490z 3dwt, making a total for the month of February for the two elevators of 2640z 4dwt 3gr. The actual time worked by the Rising Sun dredge last week was 129 hours, and the distance worked ahead 9ft. The -width of the paddock was 150 yards. The prospects continued fair, while the bottom was mostly sandy clay. The machinery was running well. The secretary of the Ettrick Company reports that there was no wash-up last week. The old paddock being filled up with sand, a new face had to be opened out. The ground on the western side of the river where the dredge is working is very shallow, the tumbler working almost out of »vater. If the river continues to fall the dredge will be shifted into deeper ground in the course of a few days, unless better wash is struck in the meantime. March 9. The Clyde dredgemaster wired the secretary on Wednesday that the wash was improving. The mine manager of the Lady'smith Gold Dredging Company reports under date 6th inst. that he resumed sluicing operations on the 27th February (after the last wash-up), and that sluicing is going on steadily, xne ground is very rough and stony, and the bottom is dipping considerably. The Waikaia dredgemaster reports having had a steady run last week, and the ground showed a slight improvement. He was still opening out down stream in the river, and it will be some time before getting into the flat proper. The ground was slightly deeper in portions of the face. All the machinery was running well. The Junction Electric No. 1 dredge is now in charge of a caretaker, waiting for the river to fall. The master of the No. 2 dredge, reporting for last week, stated that on Monday morning the hangers of the main ladder broke, and at the same time the buckets got off the lower end of the ladder for about 15ft. Until the buckets were uncoupled and brought into a tight position it was not possible to get the ladder up. The buckets were finally got clear, and the ladder fixed up on Wednesday. During the latter half of the week repairs were being carried out to the screen, also putting in new driving gear for same. The prospects -were good when the dredge ceased work. The distance worked ahead by the Eise and Shine No. 1 dredge last week was Bft, and the width of the cut 450 ft, with the ground varying up to 60ft. The ground continued very tight in ' the centre of the cut, while the bottom towards the east side was hard, but was expected to change as soon as the hard bar that showed on the shore was got ever. The No. 2 dredge worked ahead a distance or 10ft. the v/idth'of the cut was 100 yds. while the ground varied in depth up to 46ft. There was a soft | clay bottom all across the cut. The master of the Electric No. 1 dredge reports that the distance worked ahead last week was 24ft, and the width of the cut 95ft, with the ground varying in depth up to 35ft. The go!d won w«s of a coarse nature. The prospects on Wednesday were fair, but after that they were not ,«o gocd. In addition, the dredge was just on to a big slip, which was making from each side of the river, and this will affect the returns. It was expected that it would take a fortnight to get through it, as the ground was very rough, and the 'river was low and no drift was running. The No. 2 dredpe was still under repairs all last week, and. provided everything goes well, it is expected that dredging will be resumed in a for! night's tim<v

The Vinegar Hill Hyclrouli.- Sluicing CVmi>a^y, >ihich carries ou operations at St.

Bathans. and has lately received no small prominence in consequence of striking some phenomenally rich wash, was registered in September, 1900, with a capital of £0500, of which £6000 has been subscribed. Previous to last year the company does not appear to have done much good, as during 1903 the gold won was only valued at £963, while up to the end of that year no dividends had been paid. Matters have, however, altered a good deal since then, as the company is now in a veTy healthy condition financially, and dividends to the extent of 3s have been paid since December last. The value of last year's gold output was £2524 12s 9d, and the expenditure over its production £1208 15s Bd. The value of the gold produced since registration stands at £4688 Is 4d, and the expenditure during the some period £4012 3s sd. On December 31 last there was cash at the bankers to the amount of £667 4s 2d, as against which there were debts owing to the extent of £50.

March 10. lhe directors of the Golden Treasure Gold Dredging Company have declared a dividend of 7s per share, payable on the 11th. The secretary of the Waikaia Company repcrts receipt of a wire from the dredgemaster to the effect that he had washed up for a return of 31oz as the result of 136 hours' work. The New Roxburgh Jubilee dredgemaster reports that he started dredging on Wednesday afternoon of last week, and struck bottom at a depth of about 38ft. The machinery was running well. The Lady Roxburgh dredgemaster reports that he lost a few hours last week owing to the piston rod of the winch breaking. The diedge was working in old ground, with patches of solid left by the previous dredge. The width of the cut was 85ft, and the prospects were improving a little on the outside. A statement of affairs of the Three-mile (Greenstone Creek) Gold .Dredging Company as at 31st December last shows that the god won last year amounted to 818oz 15dwt 13gr, of a value of £3166 11s Bd. Since registration in 1899 the gold output stands at 33710z ldwt, of a value of £13,046 7s sd. The expenditure last year was £3332 Is 3d, and since registration £19,284 13s 9d. The declared during the latter period total £400, which on a capital of £8000 is at the rate of 5 per cent., or equal to Is per share. The company had cash at the bank on December 31 last to the amount of £431 14s lOd, while there were debts totalling £420 19s Bd. March 11. The Hartley and Riley dredgemaster wired the secretary on Friday morning that he had started dredging on Thursday. The secretary of the Bignell's No Town Company received the following wire from the dredgemaster on Friday afternoon: — "Stopped to repair screen and ladder, and will cot washup this week. There will be no wa-sh-up on the Junction Electric No. 2 dredge this week, dredging only being resumed at 4 p.m. on Friday. The Sandy Point dredge, which has been stopped for the past two weeks undergoing repairs, is expected to resume dredging on Monday afternoon. The Garden Gully Gold Dredging Company requires the services of a dredgemaster. The directors of the Masterton Gold Dredging Company have declared a dividend (the fi£lh) of 2s per share, payable on Wednesday, 15th inst., to all shareholders on the register on March 10. This makes a sum of 12s as returned to shareholders. The Bignell's No Town dredgemaster, reporting for last week, stated that the bottom on the south half of the face still continued very uneven. There was very fair wash in the north half of the face, carrying large stones, and being rather tight to break out. The Premier Svinrise, Macetown, has suspended operations in the meantime. — Mr Balch is sending down another crushing from his reef in Caledonian Gully, Macetown. Messrs Anderson Bros, are also getting out stone for a trial crushing from their reef in the same locality. — Lake County Press. An Auckland telegram states that during the four weeks ended February 25 the Waihi Gold Mining Company treated 23,076 tens of ore for bullion valued at £52.100. Mr Harman Reeves will offer a dredge fcr sale at Ciyde on Thursday, 23rd inst. The dredge is at present lying on the river bank near Clyde. Applications are invited for the position of dredgemaster on the New Golden River dredge, and also for the position of engineer on the Punt dredge. The Blackwa-ter River dredge had a good run last week, working in and from the corner &t the west across the face to within half a chain of the corner at the east, and., as the return sLows,- the face there s'uli holds good all the way across. The best portion was in the centre. This week the dredga was to be working in the east corner and out across the face towards the west, and, all going well, another fair return is expected. A statement of the affairs of the Shotover Quartz Mining Company, the capital of -which is £7-500, shows that the actual amount of gold won la>st rear was 6250z 2dwt 6gr, of a value of £2124 19s lid. The expenditure over this production was £2638 17s Id, which, it will he seen, was slightly greater than tha value of the gold won. The gold produced since registration in March, -1838. -stands at 16330z 12dwt 14gr, of a value- of £6268 3s sd. The expenditure during the same period -was £11,586 2a. On December 31 last there were debts owing to the company amounting to £32 10s, while those owing by the company amounted to £559 Is 9d, with a sum of £400 set down as owing for debentures. Thf> contingent liabilities of the comnaiiy were estimated at £300. Although the Bignell's No Town Gold Dredging Company was registered as far back a« in April, 1900, actual dredging operations were not commenced until about January of la3t year. Previous to the date of starting, the erection of the dredge was being slowly proceeded with, and by the time everything was ready for working 1 the company was in debt to some considerable extent. However, fortune favoured the company from the start, and the consistently large returns which the dredge was puting to her credit were the means of soon placing the company in a good financial position. By September patient shareholders were able to receive a first dividend of Is per share, while a sum of £100 was placed to a reserve -fund. Two more dividends of like amount followed, and each time £100 was placed to the reserve fund, which now stands at £300. Turning to the actual operations of the diodee last year, the gold yield amounted to 14060z 13dvvt 12gr, of a value of £5449 10s Id. The^ amount expended over this output was £17/4 IGj sd. while since registration the expenditure has been £3757 13s 3d. Up to December 31 last dividends amounting to £000 had been, decl<aed, but since then another dividend of Is per share has been declared, bringing the amount up to £1350. At the end of last >ear there was -cash at the bank amounting to £331 16s lOd, and a sum of £200 on rc~erve.° March IS. Tenders are invited in this issue for the p-ui-chase of the Davis' s Bend Coinp; r.y's No. 1 and No. 2 dredges and claims, situated at Clyde and in the Alexandra gorge respectively There wns no wash-tip on the No Town Creek No. 2 dredge last week. The secretary reports that the Chicago Company's new dredge Will be ready fox' wyils b^, Wednesday neit, s

Mr "W M. Orr, at present engineer of the Electric Nos. 1 and 2 dredges, has been appointed dreJgemaster of the Electric JNo. 1, in place of Mr George C. Troy, who has resigned to take up a position in South America. , The D'unstan Lead Company s dredgemaster reports that better wash was met with on Tuesday, the Bth mst., and this, it was hoped, would continue, as the piece of grotind | that the dredge was working on was to be | finished in about 10 days, when the dredge will be shifted up to the winter ground. It is expected that the river will by that time have fallen sufficiently low to allow of the dredge working there. During the week ended Saturday, March 4, the Three-mile (Greenstone Creek) dredge was working on the north side of the face in order to square up for altering the head line. The ground near the corner was very shallow, but the wash was much firmer than previously. There were several very large boulders which would not permit of the pontoons floating, and they were to be removed. During half of last week the dredge was to be working on the south part of the face, and a fair return was expected. The Gabriel No. 1 dredgemaster reports that he washed up on Friday for 15oz, as the result of eight days' work. Some time was lost during the previous week through the stay tubes, and on Thursday the boiler inspector was round on his annual visit. The dredge has crossed the road, and was turned round on Thursday with a. cut running down ! to the bridge. The ground was better, and more wa-ph making, and the dredgemaster is of the opinion that some good returns will be obtained while working down to the bridge. We understand that the directors of the Sailor's Bend Company have made very satisfactory arrangements for financing the company, and the probability is that if the river falls as it is at present doing dredging operations will be commenced within the next few weeks. It will be remembered that this dredge, when stopped last year, was right on the gold, the last return before closing down being 420z 15dwt, on a rising river. Mr Alexander Eoss, master of the Junction ' Electric No. 2 dredge, took over the Crom- I well No. 2 dredge, just purchased by the | Junction Electric Company, on the 7th inst., and the following day made a start to shift her down the river. The probability is that n?u company will work the three dredges. The iNo. 2 will continue working where she is, while the No. 3 will probably work portion of the claim below the coalpit. It is understood that the purchase price of the Cromwell dreage was £550. An idea of the present nnancial position of the company may be ptained from the fact that, after paying for the new dredge and making provision for all fundry creditors (including wages np to the 11th mst., there is in hand a sum of £929 *v hen the _ fact that the three dredges are paid for is taken into consideration, the position of the company must be regarded as a healthy one. An Auckland telegram states that the return from the Crown mines (Karangahake) shows the value of bullion recovered for the period ended February 28 to be £3957, from 2198 tons. The Westport Coal Company's output last week was 8878 tons lOcwt. March 14. A dredgemaster is required for the New Roxburgh Jubilee Dredging Company's dredge. The manager of the Champion Gold Mining Company's claim washed up part of the paddock after 10 days' elevating, and obtained 350z Sdwt 15gr of gold. The Enfield dredgemaster reports having washed up for a return of 14oz 7dwt of gold a.s the result of 133 hours' work. The dredge was operating in the south corner all the week on a rock bottom, with the ground from 10ft to 12ft deep. The Rising Sun dredgemaster reports aa follows for last week. — "Dredged 125 hours, and worked ahead 12ft. At present the western end of the cut is poorer than the eastern. The average depth of the ground is 38ft. and the bottom is sandy clay. Prospects continue the sarn-e, and the machinery is running well " "Wtih regard to the letter appearing in Monday's Daily Times over the signature "On tbe Spot," and having reference to the elevator on the Sandy Point Company's dredge we learn on inquiry fiom the secretary of the company +hat Mr Steel (chairman of directors) has just rettirned from a visit to the claim, and reports that the dredge is in good order in every respect. A stoppage was made during his visit to renew the top section of the screen, bush the main buckets, key up the top tumbler on shaft, which had worked loose, and port steel angles on top tumbler, besides effecting slight repairs which are essential to keeping a dredge in goc-il order. The directors in Novembea' last decided to alter the drive of me elevator from a bottom to a top one, and this has been found to be a great improvement towards the working of the dredge, which now has the best elevator of any on the river, and, it being well hung anil stayed, there is not the slightest danger of twisting or sagging, and, with the j ordinary repairs for wear and tear, it should I last for many years. While on the claira Mr i Steel measured up the extent of the unworked J ground ahead of the present cut, and estimates I that it will take over three years to j finish, but that does not by any means work out the low ground, there being two to three years' woik a*t the bottom end. of the claim, besides many years work on the high&r banks, which will no doubt mean lengthening the elevator, but shareholders can rest assured that that will not be necessary for the next four or five years. The proceeds of the sales of water from the Government water races at Mount Ida, Otago, for the month of January amounted to £161 5s 7d, the whole of which was paid by the miners using the water. The expenditure for ie month amounted to £89 3s Bd. During a period of 48 years there was exported from this country, gold amounting to ]6,626,1410z, of a value of £65,136,648, and silver amounting to 5,30G,5130z, of a» value c-f £657,153 ; —totals, 21,932,6540z, of a value of £65,793,801.