MILLERTON MINE.

Otago Witness, Issue 3100, 13 August 1913, Page 28

MILLERTON MINE.

(From Opr Own Correspondent. 1 GREYMOUTH. August 5. | The Millerton mine manager reports that j during the week the crosscut has been ex- I tended 15ft. The slow progress is ac- S counted for by the fact that tho country 1

:oivtimiefi very hard. The drive had been et on contract at a satisfactory price. Work on the surface had been carried on as expeditiously as possible, but the inclement weather is retarding operations a great deal. A commencement has been made with the formation of a road to the shaft eide from the main road to allow easy access to the mine. A quantity of machinery has arrived and is now being convoyed to the mine. CONSOLIDATED GOLDFIELDS. REEFTON, August 5. The following are the crushing returns for July for the Consolidated Goldfields Company’s properties: The Progress mill ran 16 days and crushed 3230 tons, yielding 6620 z lldwts of bullion valued at £2741 6s lid; cyanidcd, 2320 tons, yielding 1620 z 14dwt of bullion valued at £502 13s 4d; estimated value of sulphurottea produced (48 tons), £527. Cost per ton for mining, 12s 6.76 d; milling, excluding retreatment of old tailings and disposal of concentrates, 2a 9.12 d; general expenses and bullion charges, Is 8.97 d. Wealth of Nations mill ran for 24 days ] and crushed 1950 tons, yielding 5310 z I 6dwt of bullion valued at £2190 10s; ! cyanidcd 3 323 tons, yielding 2S2oz sdwt j of bullion valued at £BSB 7s 2d ; estimated 1 value of sulphurettes produced (12 tons), i £64. Cost per ton of mining, 11s 5.48 d; ! milling, 4s 2.45 d; general expenses and r bullion charges, 2s 5.19 d. The small tonnage was duo to the collapse of two mortar boxes. Low tonnage may be expected for August. 'lho Blackwater mill ran 23 days, and crushed 3704 tons, yielding 14490 z I9dwt of bullion, valued at £5846 Is; cyanidcd 946 tons, yielding 108 oz Bdwt of bullion, valued at £383 Os 2d; estimated value of sulphurottes produced (38 tons), £370. Cost per ton of mining, 14s 0.6 d; milling, 3s 5.15 d; general expenses and bullion charges 2e 11.03 d. REEFTON, August 7. A cablegram has boon received from the Consolidated Goldfields London office as follows; “An extraordinary general meeting will he held on August 19 to confirm a special resolution passed at the annual meeting on July 31, authorising the board of directors to carry to the general reserve the amount at credit of protit and loss and shares premium account as at December 31 last, and, further, to authorise the board of directors to apply the whole or part of such sum in extinguishing the rights attached to the founder's share. NEW BIG RIVER MINE. REEFTON, August 5. The New Big River Gold Mining Company has obtained a return from the battery of 5710 z lOdwt molted gold from 560 tone of stone crushed ; and from the cyanide process, 990 z 4dwt from 500 tone of sands treated ; —total estimated value, £2535. TALISMAN MINE. AUCKLAND, August 7. During the month of July the Talisman Consolidated mine crushed 4020 tons of ore for a vield of bullion valued at £2339 5s Bd. WAT HI MINE. (From Orn Own Correspondents.) WAIIII, August 7. The Royal reef has been intercepted m the crosscut from No. 5 shaft at the 1300 ft level in the Waihi mine. When parsed through in sinking the shaft (he lode was not; payable, but nothing can he said as to the value or width of the ore body at the 1300 ft level until further work has been done upon it. MILLERTON QUARTZ MINE. (From Orn Own Correspondent.) GREYMOUTII, August 11. Concerning the operations conducted at 1 the Millerton quartz mine during the month I of July, the mine manager reports; —During the month operations at the mine proceeded satisfactorily, but the inclemency of I the weather has somewhat retarded progress, j Since last report the cross-cut has been driven 50ft, and at present the face is in very hard country. Until this its passed through the monthly footage will not be of great extent. The excavation for the popper machinery and buildings are up- I nroaching completion. The company is to be congratulated on securing a grant of

££oo for a road from the Snowy Creek to the shaft site. The formation is being pushed on as rapidly as possible, and as the last section of the main county road has been lot to contractors, at no distant date the company will have a dray road right up to the mine. The advantages of this are obvious, for cjuicker and cheaper transit will then be obtained. The sawmill contractors arc engaged erecting their machinery, and it is anticipated that within three weeks their plant will be able to supply the mine with all the timber required at a cheap rate. As indicated in last report, a large quantity of the winding machinery lias arrived, portion of which has already been delivered at the mine. The boiler has been ordered, and during the next few days an order for an air-comprcs-sor will be placed. The development work has been Carried on ns judiciously as circumstances will allow, and each particular section is advanced to dovetail with the others, and thus avoid all possible delay. From general appearances it would seem that the mine will reach the producing stage with less expenditure than has been the rule with similar propositions.

ROSS GOLDFIELDS. CFeOM OCR Owx CdRRESPONUm ) GREYMOUTH, August 11. Mr T. E. Y. Seddon, M.P., recently wrote to the Minister of Mines asking what the Government intended doing in regard to the Ross Goldfields Reconstructed Company, as he understood that those interested in the company had applied for a subsidy. The Minister’s answer is as follows: “ The company was informed that I was unable to authorise any further subsidy, but in the event of a loan being applied for I would bo prepared to recommend that the | same be granted, provided the board’s re- ! port was favourable. No application for a | loan has, however, so far been made, and, | therefore, no further steps have been taken j in the matter.” DREDGING RETURNS. Returns from six dredges at work throughout Otago have come to hand during the past week, showing an aggregate yield of 1250 z 4dwt, or an average of 20oz per dredge. Oz. dwt. gr. Electric No. 1, Cromwell, wk 38 14 0 Manuherikia, Alexandra, week 24 0 0 Rise and Slhinc No. 1, Cromwell, 130 hrs 23 11 0 Karaunui, Alexandra, week ... 18 11 0 Mastcrton, Waikaia, 97hrs ... 12 4 0 Olrig, Manuherikia, week ... 8 4 0 Total 125 4 0 Thk West Coast. Success, 1181irs 32 15 0 COMPARATIVE DREDGING RETURNS. Tho following table shows tho number o! Otago and Southland dredges at work weekly, with their return, together with the figures for the corresponding periods of 1912, 1911, and 1910. Pennyweights and, grains are omitted in each instance:—

DUNK I) IN STOCK EXCHANGE. The post week on the Dunedin Stock j Exchange has linen brisker than usual. A ' large numl>or of sales have boon recorded , and reported in mining and investment j stocks, and prices generally have remained j firm. A briglit tone has pervaded the invest- ‘ merit stock market, and several lines have shown considerable activity so far as business is concerned. Buyers of National Banks have been quoted at from £5 2s to £5 2« 9d, with a seller on Wednesday at £5 4s. A sale was reported on Monday at £5 2s 6d. On Thursday a buyer of Union Banks appeared in the market at £53 10s, this price being ex dividend and ex rights, but no seller came forward. Bank of New Zcalands have had sellers at £lO 15s, buying offers being recorded up

to £lO ss. Business was reported at £lO 10s. Insurance iines have been in firm demand throughout the week. Standard Insurances showed a slight easing tendency on Friday, however. This line had buyers up to £1 12s 6d, but the market eased yesterday and closed at £1 lie 9d (buyer) and £l 12s 9d (seller). National Insurances had inquiries early in the week at £2 6s, and sales were reported on three occasions at £2 6s 6d. Union Steams have become a shade easier during the last few days. Business was reported on Wednesday at £2 3s, the market closing on Friday with sellers at this price, and buyers at £2 2s 6d estport Coals have continued in firm demand at £1 Bs, with sellers at £1 8s 6d. A parcel was sold on Tuesday at the former figure. New Zealand Goal and Oil shares firmed to 3s (buyers), but sellers wen» not will to quit under os. There have been firm buyers of Milburn Limes at £1 9a 6d, with sellers at £1 10s. This stock was in demand at £1 9s 9d on Friday, when busi ness was reported at £1 10'. Mosgiel Woollens were - quoted on Friday at £3 11s (buyers), and £3 12s (sellers), and a sale was recorded on the previous day at £3 11s 6d. New Zealand Proper Mills were for sale at 17s, -with buye*» at 16s 3d. An outside sale took placeJPh Thursday at the latter price. Buyers of Wright, Stephensons, who have been quoted at £5 18s. advanced to £5 19s on Friday, but no sellers were induced to come forward.

The market opened quietly on Monday. Most lines wore in demand and on offer at recent prices, but no sales were recorded or reported. r i here were sellers of Electrics at 4s 9d and Manuhcrikias at 4s, without buyers. Consolidated Goldfields were wanted at 12s 6d and Progress mines at Bs, with a seller of the latter line quoted at 9s. Prices of Waihis eased to £2 6s 3d (buyers) and £2 6s 9d (scHere). Waihi Grand Junctions showed little variation from Saturday’s closing prices, the market containing sellers at £1 Is 9d, with buyers offering up j to £1 Is. There were buyers of Talisman | Consolidateds at £2 Is, but no sellers dei dared. National Banks were wanted at £5 2s 6d, and Bank of New Zealand© at £lO ss. There was a seller of the latter stock quoted at £lO 10s. Sellers of Union Steams | were willing to transact business at £2 3s, ; and Standard Insurances at £1 lie, but no buyers appeared. The following are Monday’s latest quotations, subject to the usual brokerage:— Dredging Stocks Electric—Sellers 4s 9d. Island Block—Sellers 3s 6d. Manuherikia—Sellers 4s. Mining Stocks. Muddy Terrace —Sellers 15s. Consolidated Goldfields—Buyers 12s 6d. Progress Minos of New Zealand—Buyers Bs, sellers 9s. New Sylvia—Sellers Is 3d. Talisman Consolidated—Buyers £2 Is. Waihi—Buyers £2 6s 3d, sellers £2 6s 9d. Waihi Grand Junction—Buyers £1 Is, sellers £1 Is 9d. Waiotahl—Sellers 2s 2d. August s.—Waihi, £2 6s; Westport Coal, £1 Bs. Sales Reported.—Waihi, £2 6s 3d; Bank of New Zealand, £lO 10s. August 6. —Ross Goldfields, Ps 8d (three parcels), 9s; Waihi, £2 7s, £2 6s 9d (two parcels); Waihi Grand Junction, £1 Is 9d. Sales Reported.—Union Steam. £2 3s; National Insurance, £2 6s 6d; Waihi Grand Junction, £1 2s 2d. August 7.— Hose Goldfields, 8s 6d ; Waihi Grand Junction £1 2s. Sales Reported.—National Insurance, £2 6s 6d; Mosgiel Woollen Co., £3 11s 6d; New Zealand Paper Mills, 16s 3d. August B.—Waihi, £2 1* 9d, £2 8s 6d (two parcels). £2 9s; Waihi Grand Junction, £1 2s 6d; Milburn Lime, £1 10s. August 19.—Waihi, £2 7s 6d; Waihi Grand Junction, £1 2s. Sales Reported.—Waihi, £2 8s; L’nion Steam, £2 3«. AUCKLAND STOCK EXCHANGE. AUCKLAND, August 11. The following sales were made on the Auckland Stock Exchange to-day:—Waihi, £2 6s 9d. £2 7s; Mountain King, Id; Waitangi Consolidated, 6|d; Auckland Gas —paid up £1 8s 6d. contributing 12s; Rose Goldfields, 8s lOd, 8s lid; Talisman Consolidated, £2 Is; Waihi Grand Junction, £1 1b sd. £1 Is bd. The following was reported : —Waihi, £2 7s

CANTERBURY STOCK EXCHANGE. CHRISTCHURCH, August 11. The following sale was made on the Canterbury Stock Exchange to-day:—Kaiupoi Woollen (prof.), £5 3s. Sales reported: New Zealand National Insurance, £2 6s 6d; New Zealand Insurance, £5 &; Standard Insurance of New Zealand, £1 12s 9d; Union Stoarn Ship Company, three parcels at £2 3s.

1913. 1912. 1911. 1910, Oz. Oz Oz. Oz. 1 24 2 17 — — — 5 114 4 99 3 131 7 197 5 121 11 361 8 266 21 700 8 167 13 354 14 351 23 621 7 143 12 264 16 470 24 615 8 141 14 338 17 478 22 589 7 123 11 285 20 515 19 589 8 134 11 262 15 364 20 513 5 117 10 250 20 676 21 625 6 103 10 219 20 568 20 554 10 203 11 293 20 645 19 422 10 191 13 340 20 604 21 549 7 162 14 433 19 602 16 455 6 146 14 402 18 434 22 671 4 77 14 402 17 497 20 574 7 191 16 442 18 429 24 687 11 233 11 248 14 394 23 556 8 230 16 404 17 387 23 713 8 168 16 406 18 452 21 568 10 194 16 528 17 398 23 479 10 239 15 604 21 558 22 461 5 116 17 509 20 555 23 646 12 297 16 573 19 459 23 791 9 245 16 581 20 506 22 530 6 174 15 569 20 443 21 571 8 193 16 524 22 449 25 716 6 106 14 404 19 542 19 496 10 198 14 353 22 584 17 429 8 168 11 211 23 705 19 567 6 187 13 437 20 730 16 602 8 250 10 298 20 615 18 596 5 170 13 447 20 683 18 629 5325 11,857 15,490 17.811 Th* West Coast — — 1 9 — — 2 47 2 49 4 193 2 40 1 24 2 45 5 185 4 157 5 157 — — 4 167 4 124 3 58 2 278 4 152 5 143 5 133 3 273 3 75 7 210 5 131 3 115 3 154 6 175 3 59 2 104 5 214 6 183 5 98 3 325 4 138 5 142 5 119 3 298 3 149 7 212 5 135 3 106 3 111 6 250 5 135 2 107 3 135 3 99 3 43 2 93 2 90 5 184 3 65 3 230 4 157 4 125 4 99 3 251 4 156 6 193 6 84 2 95 4 151 5 147 5 126 2 57 3 96 5 144 5 110 2 39 3 96 5 144 5 no 2 144 4 182 3 126 5 91 2 37 3 93 4 169 6 122 3 147 4 124 5 157 5 104 ■ 2 136 4 104 4 173 3 70 2 34 5 208 4 142 4 96 1 25 5 162 4 124 3 93 1 39 5 203 4 193 4 95 1 27 5 158 4 149 4 80 1 28 4 150 4 157 5 121 • 1 31 4 135 4 156 4 Ill 1 36 4 110 4 123 4 114 1 41 5 179 5 249 4 114 1 44 2 41 5 IDS 5 148 3234 4 262 4795 3097 1