Notes from Reefton.

Otago Witness, Issue 2735, 15 August 1906, Page 26

Notes from Reefton.

(Fbou Ottb Own Cosbsspokdxxt.) EBEFTON, August 10. The mine manager of the Big Kiver mine reports : — " During the week in No- 8 eastern blook stoping has been continued on the south side of the uprise an ISm of stone. Kj3 eastern winze h»s been sank 10ft, making a total distance of 20ft from the floor of No. 8 level. During the week there hss been *n average of -20i.il -oi -stone of good -quality in No 8 ~wesbera block. Stoping •opara.lions b*v« been continued on the north *ad Botrth «ide» of the uprise. On the norSi side the Teed will average 12in, «nd is of good and on the south side 18in of fair .quality. No. 8, western -winae, hf s been sun 6ft, making a total distance of 85ft from No. 8 level. luring the week the reef has averaged 2ft in. thickness, but it is only 2ft into the winze on

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the Bouth end. Fifty tons «f stone h*v« been raised for the week." MORNING LIGHT GOLD DREDGING ( . COMPANY (IN LIQUIDATION). A meeting of sha-reho'.ders in the Morning Light Gold Dredging Company was held in the office of Mr F. W. Payne, Princes street, on Friday evening to consider a- motion providing for voluntary liquidation. Theic were Right shareholders present, and fftor the reading of the formal notice convening the meetInfo / The Chairman of Directors (Mr E. Stokes) aaid the directors had called -the shareholders together with considerable regret to conaider a resolution to go into liquidation. There had been practically no response to the request sent out to take up debentures, and, that being the case, there was no other course open than the on ft uovt taken. It •wag a most unfortunate thing that in starting operations -they had not done bo on pay*b"'« ground in the claim. The ( ground operated on had been already ovorked, and ■before they could proceed further they were•hampered by want of funds. Speaking for bimself, he was absolutely certain that th* claim had not had a fair trial, and he was v certain now as when the company started •that the claim was a good one, and one that would prove payable. Mr Barnes: What are the liabilities of the company? The Chairman: Between £800 and £900. Mr Barnes said he had been written io \>v a shareholder who held the same opinion •c the chairman did, that 'the claim had not bad a, fair trial, and he had suggested that, preference shares should he issued. H* thought that preference eliares would be taken up more readily, and would give better «eeurity io creditors than debentures. The shareholder he referred to was willing to take up preference. Shares" and he-'. (the speaker) •reajs also j*r»p»re<a to <Jo so >ltbmgll he inronld take up debentmts. ° The capital x>l the -company w?s £2400, and/ thai ccujd be doubled by the issue of 2400 niore 'shares. It seemed to him that it ,wa» hard that the £2500 supk in the venture* by the original shareholders ■hould al! go for nothing, and tiiat someone else should come in and reap any benefit that was to be got. Mr M'Donald: Our difficulty is that we want £800 to £900 in gohd ?ash» and we have not got it, and without it we cannot carry on. We want -that amount in a lump ■urn, and any less amount will not suffice. - Th« Chairman: I am one of the heaviest losers in the company, and if anything could be done to keep it going and give us » chance I would bs pleased. Of course, if the company went into liquidation there would be nothing to prevent shareholders, if they so desired, to form a new company. Mr Barnes then moved—" That 2400 preference shares be issued," but to this there iras no seconder. ■- The Chairman then moved the customary Formal resolution *o go into voluntary liquidation, and thi*. on beiug seconded by Mr M'Donald, was adopted without dissent. On the motion of Mr M'Donald, seconded by Mr Davis, Mr P. W. Payne was appointed liquidator at a remuneration of 15gs, and it w:s decided io recommend the liquidator to offer the dredge and claim, for sale by tender instead of by public auction. REPORTS FROM WORKING DREDGES. The return from iihe Paterson's Freehold Ko., 1 dredge l«st week was 23 0z lOdwt. Th« No. ,2 machine obtained 16oz 2dwt for 107 tours' work. The Revi+al Company's dredgemaater wires having washed up for a retnrn of 28oa 18dwt as the result of nine days' work. The secretary {Mr W. E. C. Reid) reports the v following returns for the week :— Lady. Annie. 50oz 14dwt; Mystery Flat, 440z 9dwt 16gr, for 133 hours; Hessey's, lOoz 16dwt 16gf, for 133 hours' vork. The Golden Bed dredgemaster wired on Thursday as follows: — "Washed up for 18oz 4brt fox « hours' dredams.; dredge stopped;

i top tumbler gave out; putting in the new one." The secretary of the Waikaia. Company re- . ports a return of 270z for 130 hours' dredging. Th» secretary of the Ladysmith Sluicing Company reports a wash-up for 10'2oz as the result of six weeks' sluicing. The return from the Three-mile (Greenstone Creek) dredge last week was 12oz 12dwt for 110 hours' work. The dredge was operating ' in old workings. During the week ended Monday, August 13, returns were reported from 41 dredges, the total yield being 1102oz 14dwt 18gr, or an average of 260z per dredge. THE WEEK'S DREDGING RETURNS. During the week ended Saturday, August 11, returns were reported from the following dredges: —

Oz dwt. gr. f Masterton, Waikaia, 105hrs .. 80 0 0 Lady Annie, Waikaia, week .. 50 14 0 Rising Sun, Clutha River, 132hrs 4G 10 0 Electric No. 2, Cromwell, week 45 0 0 Mystery Flat, Waikaia, 133hrs.. 44 9 16 New Fourteen-kiil« Beach, below Alexandra, 133hrs .... 35 18 0 Waikaka United No. 1, Waikaka, 127hrs 34 2 0 Rise and Shine No. 1, Clutha River, 135hrs 32 IS 0 Molyneux Hydraulic, Alexandra. week 30 13 0 Lady Roxburgh, Roxburgh, wk 30 3 0 Muddy Creek, Waikaia, 125hr9 30 2 0 Ot«go No. 2, Island Block, 143hrs 30 » 0 Rise and Shine No. 2, Clutha. * River, 135hrs 29 0 0 Revival, Chit ha River. 9 days 28 18 0 i Waimumu Quee*), llatuur.4. 1 125hrs 28 9 t | Golden Treasure, Miller's Flit, 1 week 23 0 0 j A'eiinJra Lead, A.l<?sc^iwSr», 108brs -. 28 0 ft Waikaia, Waikiia, 130hrs 27 0 0 Kura, Waikaia, 159hrs .... 26 10 0 Clutha River, Cromwell, 127hrs 26 6 12 Punt, C.utha River, 124hrs .. 26 6 0 Perseverance No. 2, Alexandra, 175hra .. 26 6 0 Electric No. 3, Cromwell, 120hrs -25 :i 0 lliley's Beach, Clutha River, wk 24 8 22 Perseverance No 1 Alexandra, , week .. „ 23 0 0 • Otago No. 1, Millci'4 Flat, j 120hrs 21 0 0 ; Monte Clinsto, Clyde .. .^ 20 15 0 1 Waikaka, Waikaka, 127hrs .. 20 0 0 Waikaka United No. 2, Waikaka, 132hrs 19 14 0 Garden Gully, WdikAa, 6 diys 19 4 0 Hartley and." Riley, Cioinwell, ; 136hrs v 13 0 0 . Golden Bed, Millei's Flat, 44hr* • 33 4 0 ' Waikaka Queen, Waikaka, 133hrs 18 1 0 Charlton Creek, near Gore, wk 17 0 0 Central Char Hon, near Gore, 139hrs « 16 12 0 Chicago, Alexandra, 128hrs «. 16 10 0 Ei-terprise, Alexandra, 5 days., 14 13 0 Matau, CJyde, 10 days .. .. 14 10 O HeaseyX W-iikaia, 133hr3 ... 10 16 16 Royal Waimumu, nr Mataura, i 132hrs 10 7 0 Golden Run, Mi.ler's Flat, wk 8 10 0 Total 1102 14 18 Tkk West Coast. Paclolus No 2, 132hra.. „ „ 101 18 0 Pactolus No. 1, 119hra „ \ 46 7 0 No Town Creek, mbrs „ JL 45 0 0 ; JS'ew Trafalgar, 112hr9 £ 40 0 0 Blackwater River, 119hrs .. .*> 21 6 0 BignelPs No Town, 176hrs £ 19 19 0 Total -. , 274 10 0

KELSO SYNDICATE'S DREDGE. TO THI EDITOR. Sir, — In your mining notes of the 10th inst. I notice you report Mr Cummings as being in charge of the Kelso Syndicate . dredge, and that he is carrying out improve- j I uients in the gold-saving appliances. Taji, I

wish to inform you, is contrary to fact. I, a dredgemaster, suggested certain improvement such as the lowering of the boxes, ne\ buckets, and other improvements to the £old saving appliances, and these, I may state have been carried out by the engineer of th dredge to the satisfaction of myset£ s ~-ani syndicate. I don't know who your informan is, but as there has been a lot of talk b; certain parties about this dredge I take thi as a slur on my management of the dredg* and would esteem it a great favour if yoi would publish this correction. — I am, etc., Kelso, August 11. George Linxlater. DUNEDIN STOCK EXCHANGE. With the exception of the recording of tw< transactions and a, slight hardening tendency in prices in two or three other stocks on Mon day morning witnessed no very perceptib!« improvement in -the share market. Riley'i Beaches were responsible for the two sales mentioned, and the price at which they wer< recorded — namely, 5s — indicates an advance oi Saturday's prices, tWS doubt!es9 beiug du< to the satisfactory rt*turn from the dredge foi I»s»b week. Golden Bed 3 had a tendency tc eas.i while holders of Golden Runs were agair disposed to* accept 16s 6d, with still no evidence of buyers. Otagos were practically unaltered, buyers quoting wt 42s and sellers al 463. Rise and Shines, Rising Suns, Sailor's Bends, and Sandy' Points were ail placed on offer at about recent rates, but none of them elicited buying inquiry. Talisman Consolidated scrip, in keeping with the Auckland market, showed a further advance in price, buyers offering 26s 3d, and sellers holding foi 27s 6d. The investment stock market was qviet. The following are Monday's latest quotations, subject to the usual brokerage: — Alpine No. 2— Buyers 2s, sellers 4s Gd. BigiielFs No Town— Buyers 3s 3d, sellers it 6d. Central CharlTon— Sellers 103 6d. Ettrick — Sellers 4s 6d. Golden Bed— Buyers 12s 6d, sellers 13s 9d. Golden Run— Sellers 16s Cd. N Golden Treasure — Buyers 555, sellers 60s. Island Block— Sellers ss. Junction Electric— Sellers Is 9d. Masterton — Buyers 475, sellers 51s. Molyneus Kohinoor (contrib.) — Buyers 4s, sellers 6s. Mystery Flat— Buyers 295. i\ T o lown Creek— Buyers 13s 6d, sellers 14s 6d. Otago — Buyer* 4-2s. sellers 465. Rising Sun — Seller* 18s. Riley * isiiyers 4s 9d. Rise and Shine— Sellers 30s 9d. Sailor's Bend— Sellers 11s. Sandy Point— Sellers 235. MINING. Talisman Consolidated— Buyers 23a 9d, sellers 255. Talisman Consolidated— Buyers £1 4s oa, =cl'ers £1 s=s 6d.' Talisman Consolidated— Buyers 21s Gd. Talisman Consolidated— Buyers £1 5s 3d. Talisman Consolidated — Buyers 26s 3d, seller* 27s Gd. August 7— Central Charlton. 9s 6cl ; Golden Bed, 13s 9d. August 10.— Golden Run, 16*. Two sale 3 were made on Monday in Riley s Beach shares a-t ss.