MINING.

Otago Witness, Issue 3019, 24 January 1912, Page 28

MINING.

WEEK’S MINING NEWS

January 17

Tho Blaokwatcr River dredge resumed operations on Monday, and so far everything is working well.

The Mystery Flat dredge resumed work last Wednesday after completing the annual overhaul. The drodgemastor reports that the bottom had risen considerably, and that the wash was about 4ft deep. * On Monday week the west section of the Waikaia claim was brought up parallel with the east section, and the full face was worked till Wednesday, when the dredge reverted to the eastern side again. Very little change occurred in the prospects, and so fur the Lest gold has not been reached. Sonii very heavy stones coming up on the ea-st side made dredging somewhat slower.

Reporting for the week ended January 13 the master of th© Karaunui dredge states that he commenced operations on the evening of Thursday, th© 11th instant. With the exception of a few email stoppages due to hot hearings, etc., the machinery had been running well. As regards prospects there was nothing fresh to report. The ground was very deep on the inside of the cut, and, as soon as the paddock was cleared of the stuff that had fallen in during the stoppage, ho would endeavour to lower the paddock 'to allow the bottom to bo followed.

The secretary of the Nokomai Hydraulic Sluicing Company (Ltd.), reporting the wash-up of 6060 z last week from No. 1, refers to it as the record for the company, the highest yield previously being 5040 z from No. 2. The directors, in addition to the dividend of 2s tier share, added £3OO to the reserve, which will stand at £IOOO. A start was to have been made on Monday to blow off top material. All plant has been removed from the paddock, and a stone wall built and part of the nozzle line laid. The blowing off top material at No. 2is finished to a depth of 24ft. The water in the dam was down to sft on Saturday morning, 'and the valve shut down till midnight on Sunday. The weather is very dry. At. No. 3 the creek was turned on Tuesday. Driving and nozzle lines and everything else were ready to start sinking last Monday. No. 3 is etill shorthanded. The Lion Race carries between 12 to 14 heads of water, which is divided between the three claims when necessary. January 18. The Hartley and Riley dredge resumed work at midnight on Tuesday. The repairing work on the Master!on dredge is proceeding satisfactorily, and it is expected that operations will I>j resumed Ircforo the end of next Meek.

More time was spent in repairing tlie Success dredge than was at first anticipated. and, in consequence, work was not recommenced till Wednesday, the 10th inst. During the past week the Olrig dredge worked on a very narrow cut with tailings on one side. An old paddock filled with silt, with a strip of solid on one side, was gone through, and the drcdgemosber expected to bo tip to old face yesterday. In his report, for last week the master of the New Trafalgar dredge states that the face was 220 ft wide, with a genera! depth of 32ft, while the ground was of an easy dredging nature. It was his intention to continue tho same width of cut during the present week. The Sandv Point dredge worked Bft ahead last week on a cut 100 yards wide and of an average depth of 30ft. So far the ground has shown no improvement, the face being very firm right, across the cut. The greater part of the gold b.'ing won is front the bottom. With revenue'' to the trold-'-aving tattles nv-ntiet-ed in this eolutun ‘one time ago. it pox- b' • f •'.•erst ■■■ me - (b n that the idea emanated from America, and inquiries made locally eoneei nine t-e appliance elicited the

information that it I:aJ Loon in uso on tho Californian goklfieklti for some seven or

eight roars. We further learn that shaking tables,” similar to those which hare boon advantageously fitted to several Australian dredges, are being manufactured by Mcs rs Stevenson and Cook, of Fort Lha.mers, for the Reliance Company. The- Secretary of the Utago Company reports that the dredge started work on the Bth inst. The week was taken up cleaning out the paddock, but the gold has ran out. The dredge is now oemg pulled ahead to try a piece of ground which was culv half worked bv a former company. Mr L. Davis, of Davis Bros.. Stony Creek, Skippers, left on Tuesday morning for Preservation Inlet, where (says the Wakatipu Mail) ho has gone to take t..p the position of manager of tnc Morning Star quartz mine. Mr Davis controlled the mine for a period of five or six years some time ago when it closed down. The owners of the mine commenced operations again, and met with most encouraging prospects The reef is about 7ft wide, has well-defined walls, and a good deal of go In is showing. Latest accounts to hand arc to the effect that the quartz will yield 3oz to th ® *°? f This Is considered exceedingly rich, and if it continues the old “ Star will again come to the front as a g^d-produemg: concern Tho company has absolute confiden ,o in Mr Davis during his former roiinecdiogi with it, so that they eagerly sought hi, services again, and. although somewhat inconvenient for Mr Davis to leave his Skippers interests, he has decided to go doiv.r <and supervise operations for at least a month. A trial crushing will be put through as soon as ho arrives on the sateJanuary 19. The secretary of the Mystery hiat Company reportg a return of lOoz 12dwt for 135 hours’ dredging. The Koputai dredge washed up on the 15t,h for a return of 270 z 17dwt for 15a hours’ w’ork. Tho secretary of the Hartley and Riley Company reports that he received a telegram from the dredgemaster on the 18th advising that a segment of the screen had broken, and that work had been suspended. As, however, a new segment has already been sent on, the stoppage should not be a. long one. The annual statement of the affairs of the Rise and Shine Company shows that the company was registered in February, 1900, and is still in active operation. The

nominal tayiuti i?> actually paid up in cash being £9746 5s Bd. The amount of capital subscribed is £IO,OOO, and th© paid-up value of scrip given to shareholders on which no cash has been ptiid is £2OOO. The capital is divided into 12,000 shares (all allotted), the amount paid up on each being £1 (less amount, due on forfeited shares). The number of shares forfeited has been, 1335, and the money received for same £739 11s 3d. The number of shareholders at th© time of registration was 158, and at present is only two fewer. The present number of men employed is 10. The quantity of gold produced during the past year has been 22170 z 7dwt, valued at £8607 3s 9d, and the total quantity produced sine© registration 30.7420 z 13dwt 7gr, valued at £119,522 2a 3d. The expenditure •during the pa-st yoar lias bc-en £6598 9s Id (including £BIB Ps 6d, liabilities from the previous year), and since registration £9O 800 3s 7d. The total dividends declared and’ paid has been £35.000. The amount of cash at, the bankers and on deposit is £4162 8s Id (including £534 7s 7d, estimated value of gold lodged with bank for assay and purchase). The amount of debts owing by the company is £584 4s 9d, while the amount of debts directly due to the company is £253 16s 4d (by the holders of forfeited shares). T „ January di. The secretary of the Success Company reports a return of 20oz for 116 hours’ dredgUl The secretary of the Manuherikia Cornpuny rejiorts a. roturn of 28oz for tbc week. The dredgemaster repoits that the drift has been heavy. . . ~ Tiie Cadrona dredge continues to yield

payable returns, and the ground is improving as th<? machine works down the flat. Liist week’s return of lOSoz- from the 1911 dredge' should be very gratifying to shareholders. The ground at present being worked is very good, though rough and another century is looked for this week. Tho statement of affairs of the Electric Company for the year just ended has been issued, and shows that since the registration of tho company, in September, 1899, the total quantity of gold produced has boon 53,930 u/. 6dwt 7gr, valued at £208,467 5s Bd. The production last year amounted to 29230 z sdwt. of a value of £10.921 19s Id. The expenditure during the year in connection with carrying on operations was £7383 17s Bd, and the total expenditure since registration £86,812 18s Bd. The total amount of dividends paid has been £126£910s on a nominal capital of £26,UUU. Itic present, number of shareholders in the compaiiv is 293, as against 19 at the tunc of registration. The amount of cash at the bankers and on deposit is £4050 7s Bd, against which the company owes debts to the amount of £1286 0s 4d The half-yearly meeting of the Ourawera Company, operating at Hound Hill, near Riverton, was held in Invercargill on Wednesday. A report presented to shareholders stilted that the operations during the past half year had proved unsatisfactory. The ground marked had probably been the poorest vet met with, and hut for the exceptionally abundant water supply of the last few months the loss in working would have been greater. Without making any a j lowa nee for depreciation of plant tho balance sheet shows a loss in working expenses for the half year of £37 14s ,lld. Within tho last month the wash prospects had improved slightly, but it was not possible to anticipate results with any certainty. The balance sheet showed that tho value of the gold produced was £7lO 19s 7d. and that the expenditure amounted to £798 14s 6d. working expenses contributing towards the bulk of this amount. The assets of the company. Including a balance of £132 19s 4d in the bank, were valued at £3132 19s 4d. In moving the adoption of tlm report and balance sheet, the chairman (Mr John Forsyth) expressed the hope that (luring the present year the claim would he properly opened out and more satisfactory results obtained January 22.

According to the annual statement of affairs of tlio Kuraunui Company the nominal capital at the present time is £5500, of which £5115 has been subscribed. The number of shareholders is 97, and the number of men employed 10. Gold amounting to 13620 z sdvvt 23gr, valued at £4925 13-1 Id was produced last year, making the total quantity won since the registration of the company in 19091868 oz 15dwt Bgr, valued at £6556 10s lOd. The expenditure in connection with carrying on operations since last statement has boon £6186 18s

lOd. The amout of cash in hand at the present time is £l4 5s Bd, while the sum of £2031 7s 2d is owing by the company in debts of various kinds. The annual statement of affairs of the Good Chance Company just to hand shows that the amount of the capital is £1250, and the present number of shareholders 61, or three more than at the time of registration. The quantity of gold produced during the past year was 3480 z 2dwt Bgr, valued at £1356 18s, while the total production since (ho registration of the company has been 17480 z Odwt 19gr, of a value of £6845 8s 2d. The working expenses since the last statement have been £1825 2s Id, and since registration £7320 12s. The dividends declared and paid since the inception of the company have amounted to £625. The sum of £287 3s 8d is to the company’s credit at the bank and on deposit, and there is cash in hand to the amount of £8 14s 9d. Against these the company owes debts to the amount of £195 17s lOd"

Japuarv 23. The master of the Mofiterton •dredge reports that he has completed rebushing the buckets and links, and expected to resume dredging yesterday. The master of the Blackwator River dredge reports that the repairs took longer than anticipated, owing to unforeseen difficulties, but that the machine is now in fair running order, with the exception of the top tumbler. A new tumbler is now ip course of construction. r lhe return of 20oz for 77 hours' work was from the poor side of the face. The master of the ho Town Creek dredge reports a return of 530 z, and states that ho has finally cleaned up all the gold, bearing ground. Tiro master of the Rising Sun dredge reports as follows Dredged 118 hours, and worked ahead 12ft on a cut 90 yards wide. We lost n. shift on Saturday in overhauling the winch. There is no change in the nature of the ground o t bottom. The machinery is running well.” The directors have declared a dividend (the thirty-seventh) of one ©hilling per share, payable tomorrow.

JVotcs from ( rcnmclT. (Fhom Oun Own Cohiiespondent.) CROMWELL, January 19. The rivers remain steady at a level which enables most of the fleet to work. The Hartley and Riley dredge had another stoppage on Thursday with the screen drive. A new one is on tire road to the claim, having been ordered previously, and the dredare will not be idle long. The prospects in the bcaoh arc still very satisfactory. . , . The Electric No. 1 dredge is being repaired after a run on very .rough ground. The No. 2 dredge is still idle. . The Garrick Mining Co. has a fairly large number of men at work, but the 'results are not known. Messrs Evans and party are steady at work on their reef ii-ear the top of tho Garrick Range, and are reported to be on pavable stone. . The 909 dredge finished repairs early in the week, but could not resume where dredging ceased, as the river was too high. The dredge was dropped back to where it opened out on payable gold, and started dredging on Wednesday.

Til 15 WAIIII MINE. (From Ouk Own CobuespondentJ WAIHI, January 19,

.Shares in the Waihi Company have shown a. tendency to harden a little during tho past dav or two. This is mainly due to the fact that the crosscut projected through the south section of the Martha reef 150 ft east of the point where the lode was intersected at tho 3150 ft. level has disclosed an improvement in tho ore values, the first 10ft being worth £6 10g per ton and the next 20ft 1213 per ton-an average value for 20ft of rather over £2 11s per ton. The Empire roof going west is also showing better grade ore.

WAIHI GRAND JUNCTION. (Fbom Oub Own Correspondent.) WAIHI, January 17,

A quartz, load lias boon cut in the crosscut rorth for the Martha reef at No. 6 level in the Grand Junction mine. The identity of the roof can only be determined by further work, as the drive is hardly out (ho distance at which it was expected that the hanging wall section of the Martha reef would come to hand, though it is possible that it will prove to bo the Martha.

WAIJII GRAND JUNCTION MINE, U’b.ou Ouu Own CoiiiiEapoNDitNT.) W A 111 I. January 18.

The north crosscut is still advanced in quartz at No. 6 level in tho Grand Junction n ine, and indications now [joint to it being ilio banging wall section of tho Martha rt ef The quartz carries more or loss values, but so tar not of payable character. At the a rresjxmding [joint on No. 5 level the Martha reef showed a total width of about 60ft. part of which was of milling grade. Should it maintain its width going down, the crosscut at No. 6 level will continue in quartz for some distance before the foctwall country is cxp< sed. r.nd it is thus possible that improved values will be met with on the footwall portion of the lode

APPLICATIONS FOR SUBSIDY. (From Ocr Own Correspondent.) GREYMOUTII, January 22. A company proposing to develop the deep loves at Boatman’s, Reefton, have applied to tiiC Minos Department for a £IOOO prospecting subsidy. The Consolidated Company has made an application for a similar amount to develop the deep levels in the Progress mine, as only one ouch grant can l>e made in the district, the applications clash. The matter is exciting a good deal of interest at Reefton, wlnfc-o much bitterness is being imparted into the controversy. OUR AWER A COMPANY. Mr R. Erekinc, manager, stated at the meeting of the Ou raw era Gold Mining Conpany (Limited) on Wednesday (says the Southland Times) that in regard to the comparatively poor results from the mine that bud recently been noted, a scarcity of water seemed to cause the trouble, the supply running out . very quickly. The opening out of the bush might account for this, for at one time they could work all right for a week without rain, which they could not now do. This theory was generally endorsed by other eh are ho] dors. In referring {o the amount fixed for directors’ 1 honoraria, Mr Erskino Said that the compahy bud been worked at less expense

than any other in the Dominion. He read a letter from the mine manager, which stated that only 12 hours’ sluicing had been d<-ne during the last week, owing to a shcrtablo of water, and one ounce of amalgam had been the result. During the last lew weeks he had been engaged mostly in connecting new pipe lines and effecting other improvements. Five men were at present employed, and he purposed sluicing every second day. Prospects appeared to be a little better.

LAKE COUNTY MINERS’ ASSOCIATION. The annual meeting was held on Saturday, the 15th inst., at Arrowtown. There was a good attendance, Mr G. H. Romans (piesidonfc) in the chair. Formal business, including the adoption of the report and balance sheet, having been disposed of, The Chairman said there was a matter which required the immediate consideration, of the association. Application was being made at next court for six months’ protection of the several reefing properties at Maoetown, and following this protection an altitude protection would come in, widen would probably mean 12 months before any work was started. His candid opinion was that if the reefs were not 'Worked' they should be abandoned. Many men no doubt would work the several reefs if the opportunity were offered, and he considered it part of the association's duty to see tho mines were worked with the full complemen of men, or abandoned. Mr Connor agreed with the chairman.

Mr Baird asked if there -were any chance of capital being available now or on the way out to work the mines. The Chairman said if the association op>posed the application next court day it would, no doubt, bring matters to a head one way or the other. Mr Paterson said further protection for these mines should be strongly opposed in the interests of the industry generally, and he would propose —“ That the chairman bo appointed to oppose the application for protection, and be empowered to appoint Mr Turrojn to act on behalf of the association.” —The motion was seconded by Mr Connor and carried unanimously. The Chairman intimated that a thorough canvass would be made of the district for rr-em.beps of the association. After ihe meeting several members wero enrolled. THE GUNDAGAI FIELD. SYDNEY, January 20. A rich lode has been struck in the long tunnel of a mine at Gundagui. Two dishes of quartz dollied out 2720 z. DREDGING RETURNS. There have been 13 dredges at work throughout Otago and Southland during the past week, the total gold yield from which lias been 3540 z sdwt, or an average of roughly 270 z per dredge. Throe West Coast dredges obtained an aggregate return of llloz lldwt. The following are the details:

DUNEDIN STOCK EXCHANGE. Waihis were slightly easier on ’Change on Monday, and there wag a seller at £2 12s with a "buyer at £2 11s. A parcel of Waihi Grand Junctions changed hands at £1 8s lid, and the market closed oven, with a buyer at £1 8s 7d and a seller at £1 9s 3d. Tho only other business was a reported sale in Standard Insurances at £1 11s tho market being somewhat dull. The following are Monday’s latest quotations, subject to tho usual brokerage:— Dredging Stocks. Hartley and Riley—Sellers 13s 6d. Koputai -Sellers 13s. Mystery Flat—Buyers l s 6d. Rise and Shine —Sellers £1 10s. Mining Stocks.

Nokomai Hydraulic —Buyers 16s. Consolidated Goldfields—Sellers 18s. Saxon —Sellers lg Kuranui Oaloclonian —Sellers Is Bd. Old Ilauraki--Buyers Is s<l. sellers Is 7d. May Queen -Sellers Is 9d. New Sylvia Sellers Is Bd. Occidental —Buyer s Ls. Waibangi Buyers 3s Id, sellers 3s 3d. Talisman Consolidated —Buyers £2 10a, sellers £2 11s 3d. Waihi Beach (no liability)-Buycrs £2 11s .sellers £2 12s. Waihi Grand Junction-Buyers £1 8s 7d. sellers £1 9s 3d January 16. —New Zealand Drugs, £2 10s - National Insurance, £1 18s lid (two parcels): Waihi, £2 12s 6d. Jan. 17. —Waihi, £2 13s 3d. Sale reported: Old Han raid. Is 7d. Jan. 18. —Waihi Grand Junction, £1 9s 6d. Jan. 19.—Waihi, £2 13s, £2 12s 9d; Waihi Grand Junction, £1 9s 4d; Westport Coal, £! 7s. Sales Reported.—National t lnsurance, £1 IBs 3d; Waitangi, 3s o|d; Westport Coal, £1 7s lid, £1 7s 3d; Waihi Grand Junction. £1 9s; Talisman Consolidated, £2 IGs 9d. Jan 20.—Talisman Consolidated, £2 lls 3d . n dales Reported:—Union Steam, £1 19s; Standard Insurance, £1 lls lid. January 22.—Waihi Grand Junction, £1 8s lid Sale Reported.—Standard Insurance, £1 lls lid.

AUCKLAND STOCK EXCHANGE. AUCKLAND, January 22. The following sales woro made at tho 3.15 p.m. call of tho Auckland Stock Exchange to-day:—Now Zealand Insurance, £413.5 ; Now Sly via-, Is fki; Waiotahi, 4s 4d,

4s 5d ; Waitangi Consolidated, 3s 3d; Ross Goldfields, 3s 6d t Old Hauraki. Is fid; Talisman, £2 11s 3d; Waihi, £2 12s.

Oz. dwt. gr. llising Sun, Cromwell, 118lirs 45 13 0 1911 dredge, Alexandra, wk 38 0 0 Waikaia, Waikaia, 126hrs ... 37 2 0 Kuraunui, Alexandra, wk Molyneux Hydraulic, Aloxan34 7 0 dra, 8 days 29 0 0 Manuhcrikia, Alexandra, wk. 28 0 0 Koputai, Waikaia, 129hrs ... 27 17 0 Golden J3ed, Cromwell, 128hrs Waikaka United No. 1, Wai26 18 0 kaka Sandy Point, Alexandra, 26 8 0 118hrs ..._ Rise and Shine, Cromwell, 24 1 0 136hrs ' ... Waikaka United No. 2, Wai14 5 0 kaka, 127hrs Mystery Flat, Waikaka, 12 2 0 I35hrs 10 12 0 The West Coast. 354 5 0 Worksop, 132hrs 71 7 0 New Trafalgar, 128hra 20 4 0 Success, 115hrs 20 . 0 0 111 11 0