MINING.

Otago Witness, Issue 3102, 27 August 1913, Page 28

MINING.

WEEK’S MINING NEWS August 20. The secretary of the Electric company has received a message to the effect that the No. 1 dredge has stopped work for a few days in order that repairs may bo effected to the boiler.

The master, of the Waikaia dredge reports that the dredge worked 135 hours last week, for a distance ahead of 28 yards. The wash is looking better, but the gold lias not unproved so far. Another three days will take the dredge into an old paddock left on the down cut, which will enable it to go ahead fast for about a length.

The Secretary of P- Nokomai Hydraulic Sluicing Company reports that both No. 1 and No. 2 claims have had a full week's elevating, and good progress has been mode. The tailings at No. 2 are giving some trouble, and three shifts have been spent to remove them away for room. August 21,

The Olrig dredge had a good run last week, and the wash looked a shade better throughout the length of the cut. The master of the Electric No. 1 dredge reports that the dredge worked 132 hours last week for a distance ahead of 33ft. The ground during the last few days has not been quite so rough, but some of the wash on the Bannockburn side is still tight and hard to dredge. Frosts have set in again, and the river is becoming more favourable. The prospects continue to be fair. The master of the Electric No. 2 dredge reports that some nice-looking wash has been struck in the present cut, but so far it does not carry much gold. The ground was shallow during most of last week, but is becoming deeper, with a soft bottom. A good deal of rain fell during the week, but as snow fell on the foot-hills it has not affected the river very much. Frosts have again set in.

The half-yearly report of the directors of the Wahi-Paeroa Gold-Extraction Co., up to Juno 30, states that owing to the unprecedented drought, the profit for the six months was seriously affected, totalling only £2024 12s Bd. For the five months to the end of May 55,500 tons only were treated for £14,600 worth of bullion, or an average of £2920 only per month, whereas for June unci July, since the river has risen and the now flume has been working, the returns have been £5030 and £4470 from 13,400 and 12,500 tons respectively. To prevent a recurrence in a similar dry season, a permanent bridge has been erected across the river in front of the works, and a high flume erected to convey the treated sands to a point nearly a mile down-stream from the works. The river at this point makes a horseshoe bond, and, with 15 chains of flume across the bed, the treated sands are being discharged into the river that distance below the works, which will absolutely prevent them in any future dry summer from drifting back far enough to interfere with dredging operations and compelling their retreatment. Additional rights have also been secured for 21 years through native land for a steel-railed tramway from the Paoroa railway station to a point opposite the works on the river bank, and the tramway is now under construction. August 22. The secretary of the Success Company reports a return of 38oz 4dwt for 117 hours’ work. The Rise and Shine No. 1 dredge worked a cut of 150 yards last week, making 8(t ahead. The average depth was about 46ft. There was still a good deal of coal bottom, but a little wash was coming in at the west corner, where the ground had previously been very poor. The drift caused a good deal of trouble during the week. The company’s No. 2 dredge will begin to cross the river to-day for the purpose of having the elevator installed, after which it will be ready for work.

August 27). The secretary of the Karaunui Company

reports a, return of 17oz 6dwt for a week s ivork.

The Manuherika dredge washed up yesterday for a return of 21oz for a week's operations. A return of 240 z sdwt for a week’s work is reported from the Electric No. 2 dredge. The master telegraphed yesterday as follows: —“Ground getting deeper, good depth of wash struck, decided improvement in prospects.’’ The deviation of the main crosscut at the 1000 ft level (Thames deep levels) is now in 385 ft, leaving 267 ft to complete the board’s work. The country is still broken.

The pumps in the Old Hauraki mine, Coromandel, were stopped last Saturday in compliance with the resolution passed at the recent extraordinary meeting of shareholders, and the water will now be allowed to rise in the mine. Also, in accordance with the resolution passed at the same meeting, 12 months’ protection has been applied for. August 25. The master of the Rise and Shine No. 1 dredge reports that the bottom is scoured and the drift is bad. August 26. A telegraphic message was received yesterday morning from the postmaster at Alexandra stating that the Molyncux River was at the 7ft mark. The weather was dull. The drive in the footwall at No. 3 level, New Sylvia mine, Thames, was extended 9ft last week. The stopes above the level were continued, and were producing a fair amount of ore. At the intermediate level the drive was extended 10ft. The reef, which was 3ft wide, was well mineralised. The battery level was advanced 23ft. The reef was smaller, but the country was good. The country in the low level, which was extended 14ft, was firmer.

' otes from Cromwell. IFhom Odb Own Correspondent! CROMWELL, August 22. Hard frosts have prevailed all the week until to-day, but the weather is now exceptionally mild, and the rivers are at a low level. The Electric No. 1 dredge is still idle owing to slight damage to the boiler, but np information is yet available as to what stops are to be taken to rectify this. The Electric No. 2 dredge is steadily at work in the Clyde Gorge, about five miles below Cromwell, and is reported to have fair prospects. The Hartley and Riley dredge has been fitted with a new tuinber, hut will not resume work until the river reaches a lower level. The Rise and Shine No. 2 dredge is completed, with the exception of the elevator, which has yet to be fitted. Several trials of the machinery have been held. The elevator is lying some distance away at the wreck of the sunken dredge, and the river is too low to enable the dredge to he floated across without some difficulty. It is possible that an effort will be made to get the elevator ashore and cart it round to the building site and erect it there, but nothing definite has yet been decided. The Rising Sun dredge is on poor ground, but there is no prospect at present of floating it down to the lower boundary. The Alto Company, at Bendigo, has several men at work in its mine, and there are rumors of another slight boom in reefing in this locality H OCT IST ETTER GOLDFIELDS COMPANY. (From Our Own Correspondent.) GREYMOUTH, August 22. The Lake Hochstetter Goldfields Company, which lately lot the long tunnel on the lino of the company’s water race for oyer £2OOO, has now let additional contracts, including several other tunnels. The price is stated to be over £IO,OOO. The contractors are a party of about a dozen first-class working men. It is expected that the work will take about 10 months to complete. The mine manager, Mr Henry Linklater, continues to obtain splendid prospects in several of the faces which it is prospects to open out on. About half of the company's shares are held in Groymonth, Ahaurti, Reefton, and Hokitika; the balance are Hold in Sydney, where the head office of the management is situated.

WAIHI GRAND JUNCTION COMPANY. AUCKLAND, August 20. The Waihi Grand Junction Company for 24 days ending August 9, with 39 stamps running, crushed 8000 tons for returns valued at £15,200. DREDGING RETURNS.

DUNEDIN STOCK EXCHANGE. Business has brightened up to some extent on the Dunedin Stock Exchange during the past week, and several linos jn the in ning and investment stock sections of the market have displayed a tendency to firm considerably. A consistent firmness in several lines continues to be a feature of the investment stock division, and a fair volume of business has boon passing in this department of the market. Buyers of National Banks have firmed steadily during the week, and closed on Friday at £5 ss, but the market has lacked sellers. Bank of New Zealand* have boon inquired for up to £lO 3s 6d, without sellers. There has l>een a firm demand for all insurance lines, but only a email amount of business lias resulted. A parcel of Standard Insurances was sold on Wednesday at £1 12s 6d, and a seller declared on Friday at £1 12s 9d. A firming in Union Stearns took place about the middle of the week, and during the last two days there lias been a large turnover of these shares. Buyers were quoted at £2 3s 9d and sellers at £2 4s 3d on Thursday, when three parcels wore sold at £2 4s, and sales were reported at £2 3s 6d (two parcels), £2 3s 9d, and £2 4s. A sale took place on Friday at £?, 4s 3d, and six sales were reported at £2 4s and one at £2 4s 3d, closing quotations being £2 4s (buyer) and £2 4s 6d (seller). There have been strong inquiries for Westport Coals up to JSI 8s 6d, but no sellers have come forward since Monday, when one was quoted at £1 8s 9d.

Buyers of National Mortgages and Wright, Stephensons have firmed to £3 19s and £b Is respectively, but no sellers were induced to declare. D.l.C.’s (prof.) have been offered at £1 2s 9d, with buyers at £1 2s 3d. A sale was reported on Wednesday at £1 2s 6d. New Zealand Drugs have been in firm demand at £2 5s 3d, and New Zealand Paper Mills at 16s 6d, but no busiresulted.

The market opened firm on Monday morning for all classes of mining and investment stocks, and brisk business was transacted in some lines. Ross Goldfields showed a slight advance on Saturday’s closing quotations, and at the third call over prices had firmed considerably. Sales were effected at 12s Id, 12s 2d (two parcels), and 12s 3d, late buyers offering 12s, with sellers at 12s 2d. Thames stocks showed a tendency to improve again. Talisman Consolidateds had buyers up to £2 Is 6d, and Waihis at £2 6s 9d, with a seller of the latter at £2 7s 3d. Inquiries were made for Waihi Grand Junctions at £1 2s, with a seller quoted at 3d more. Buyers of National Banks advanced to £5 6s, but no sellers declared. Inquiries for Bank of New Zealands and National Insurances had also firmed since Saturday, but no sellers came forward. A sale was reported in Union Steams at £2 4s 6d, the market closing with further buyers at £2 4s 3d and sellers asking 6d more. Other investment lines were inquired for at recently recorded prices. A sale of the preferential issue of Kaiapoi Woollens was reported at £5 3s, but neither buyers nor sellers were quoted on ’Change. The following are Monday's latest quotations, subject to the usual brokerage: Dredging Stocks Island Block- -Sellers 5s fid. Manuherikia—Sellers 3s fid. Pactolus—Buyers 3s. Mining Stocks. Roxburgh Amalgamated—Sellers 3s fid. Ross Goldfields—Buyers 12s, sellers 12s 2d. Progress Mines of New Zealand—Buyers 7s 9d. New Sylvia—Buyers Is, sellers Is Ijd. Saxon —Buyers 6d, sellers lOd. Talisman Consolidated—Buyers £2 Is fid. Waihi—Buyers £2 fis 9d, sellers £2 7.s 3d. Waihi Grand Junction—Buyers £1 2s, sellers £1 2s 3d. August 19. —Ross Goldfields, 9s 9d, 9a 3d, 9s 6d, 9s 7d ; Waihi Grand Junction, £1 2s fid, £1 2s Bd.

Sales reported: Waihi, £2 7s 3d; Kaiapoi Woollen Company (prof.), £5 3s; Nation*! Bank, £5 5s August 20.—Waihi Grand Junction, £l 2s 6d; Standard Insurance, £1 12s 6d. Sales reported : Ross Goldfields, 9s 10^d; Waihi, £2 7s 6d; D.I.C. (pref.), £1 2s 6d. August 21.—Ross Goldfields, 11s 3d (two parcels; Union Steam, £2 4s (three parcels). Sales Reported.—Ross Goldfields, 10s 2d, 10s 3d, 10s 4d ; Union Steam, £2 3s 6d (two parcels), £2 3s 9d, £2 4s; Christchurch Gas Company, £7 (two parcels). August 22. —Waihi, £2 6s 9d; Union Steam, £2 4s 3d.

Sales reported : Union Steam, £2 4s (six parcels), £2 4s 3d. August 23.- Union Steam, £2 4s 6d, £2 4s 3d; Waihi Grand Junction, £1 2s. Sales Reported.—Union Steam, £2 4s 6d (two parcels), £2 4s 9d; Waihi Grand Junctions, £1 Is 9d. August 25. —Ross Goldfields, 12s Id, 12s 2d (two parcels), 12s 3d. Sales reported:—Union Steam. £2 4s 6d ; Kaiapoi Woollen Co. (pref.), £5 ss. AUCKLAND STOCK EXCHANGE. AUCKLAND, August 25. The following sales were made on the Stock Exchange today:—Ross Goldfields, 11s 7d, 11s Bd, 12s, 12s 4d, 12s 6d, 12s Bd, 13s, 13s 3d, 13s sd; Waihi Grand Junction, 21a, 225, 225; Occidental Consolidated. 8d; Talisman Consolidated, £2 Is 9d, £2 Is 6d; Auckland Trams (ord.), £1 3s 6d.

0 dwt. Rising Sun. Cromwell, 122l)rs 24 13 0 Electric No. 2 Cromwell, week 24 5 0 Manuhorikia. Alexandra, wk 21 0 0 Willowhank, Waikaka Valley, 136hrs 20 1 14 Karaunui. Alexandra, week... 17 6 0 Rise and Shine No. 1, Croinwell, I36hrs 11 13 0 Olrig, Manuhorikia, week 9 16 0 Total 123 14 14