MINING SUMMARY.

Otago Witness, Issue 2714, 21 March 1906, Page 22

MINING SUMMARY.

Dredging returns from Otago and Southland dredges for the three-weekly period ended March 12 show an increase of lOOoz as- compared^, with the preceding threes .weekly period. Hydraulic sluicing and quartz-mining returns received from Otago companies since the issne of last Summary show an increase of 500ozs, a result which was largely contributed to by 8370z from tha Blue Spur and Gabriel's Gully Consolidated Gold Mining Company. West Coast dredges, on the other hand, show a slight f-ilhng-off in the three-weekly returns, but there is nothing to indicate that thi3 is due to anything beyond the ordinary causes inseparable from the carrying on. of dredging operations — viz., opening rot new cuts, stoppages for repairs a-nd renewaJs, etc. Iv estimating the- returns i>T gold from Otago, Southland, and West Coast mining fields, it is necessary to remember that the returns of private syndicates are not included m the published list, and there is reason to beli&ve- that if these were added the published totals would be swelled considerably. In the dredging industry many of the- machines formerly owned, by companies which have gone into liquidation, have become the property of private owners, who" are using them with more or less success, for gold-winning on private claims. Private syndicates and persons have ako had a number of dredges built to order, and these are ako winning regular returns,, of which no official record is obtainable. The- returns of private sluieinjj and hydraulieking parties are also unpublished, and, in view of this and the circumstances already alluded to, our summarised mining returns must be accepted as incomplete. The Molyneux River, from which the largest gold-dredging returns are usually obtained, rose suddeuly last week from the sft Bin mark at Alexandra to 7ffc 3in, aad, as is usual with such sudden alterations, a considerable quantity of silt has been set in motion, and is hampering dredging operations. Previous to the increase in the quantity of water running jfcha subsidence from the former flooding waa of a regular character, and such as to 'again raise hopes of an early winter 'dredging season, and ifc eeemed as though the period when the Gorge machines would resume operations waa within, measurable jflisfcance. These hopes have now vanished for the time being, but optimistic persons interested in the. industry still persist in prophesying that, in view of fhe excessive rainfall' experienced .during the summer, the winter is bound to be a mild one, with clear frosts and little rain and snowfalls. On the Stock Exchange there has been little alteration in the buying and Belling quotations of dredging shares. As was to be expected, there was a decided fall in Roxburgh Jubilee shares after the rec-ent mishap to the dredge, _ but bhis »tock bas partially recovered its former position owine to the salvage of a conVderable portion of the machinery and the probable recovery of ono or both pontoons and other ni af>^ ll ' riftrv ' and gear. The

Molyneux Kohinoor dredge, to which reference was made in last Summary, is at present being subjected to a thorough overhaul preparatory to recommencing operations, when expectant shareholders anticipate some further big returns. Several of the Alexandra Gorge and Cromwell Gorge dredges are in readiness to start dredging as soon as the river is in a favourable condition, and_ as that time approaches a movement will no doubt be observable in the values of these shares owing to inquiry for investment or speculative purposes. Advices received from Auckland state that during February the Talisman Consolidated crushed and treated 3835 tons ore for bullion valued at £11,150. During the four -weeks ended February the Komata Reefs Company treated 1350- tons ore for bullion valued at £2896. An Auckland telegram states thai the gold output from the Auckland goldflelds for the last three weeks of February was £72,806. The Nokomai Hydraulic Sluicing Company has acquired the race, plant, and other assets of the Lyon Gold Mining Company, the water license of which entitles the company to the first rights for 40 heads. Our Reefton correspondent wires that all work at the Alpine mine has ceased, pending- the adjourned meeting of shareholders, to be held on the 28th inst.. to consider rhe question of going into voluntary liquidation. Tha gold exported from New Zealand for lasfe month totalled 32.7080z. valued at £130 693. The export of gold for the first two months of the present year shows an increase of 4464-oz, valued at £17. 081. over that of the corresponding months of last year. Sluicing and Hydraulic Elevating Returns. Oz. dwt. gr. Blu<* Spur and Gibriel's Gully Company „, .» 837 0 0 Undaunted (two month) .. 129 5 0 Island Block (5 weeks) .... 44 5 0 Quartz Mining. Barewood (230 tons) IG 18 0 COMPARATIVE DREDGING RETURNS. The following table shows the weekly returns reported from the Otago and Southland dredges for 1906, together with the figures for the corresponding periods of 1905, 1904, and 1903. Pennyweights and grams are omitted in' each instance: —

The following table shows the weekly returns reported from the West Coast dredges during 1906, together with the figures for the corresponding weekly period of 1905 and 1904 —

DIVIDENDS. The following dividends have been declared since the issue of our last Summary — Molyneux Hydraulic, Is ; Muddy Creek, 2s ; PateTson's Freehold, Is; Masterton, 4s ; Blackwater River, Is; Waikaia, Is.

1906. 2 28 16 0 6 254 IS 0 8 573 18 0 8 441 35 0 7 252 10 0 8 283 2 9 L 0 305 6 0 9 271 16 0 9 268 3 0 9 273 18 0 1905 2 23 4 0 13 408 3 0 12 319 17 12 17 472 3 0 18 412 6 0 20 510 3 0 15 461 8 0 15 478 15 0 14 507 15 0 13 359 3 0 1904. 15 373 2 0 14 39G 1 0 17 567 8 0 24 792 16 0 23 664 9 2 24 736 3 6 22 615 12 0 26 769 8 0 21 510 10 0 23 706 14 12 2,784 2 9 3.952 17 12 6,132 3 20

8 30 S9 U » 54 10 12 U 18 JL»Ut> 254 991 1087 1096 1072 969 1179 1189 1103 1027 11 133 43 1103 52 1357 51 1196 51 1420 52 1425 51 1337 45 1211 49 1278 53 1363 19U4. 7 176 41 894 53 1282 57 1390 53 2047 61 2932 GO 2194 67 2457 61 2135 51 1431 4 39 50 53 59 61 57 55 63 61 333 < no 1262 1316 i 1460 1639 1481 1357 ; 1426 1415 9,971 11,878 16,942 12,404