MINING.

Otago Witness, Issue 3105, 17 September 1913, Page 28

MINING.

WEEK'S HIKING. NEWS

September 10. A return of 4802 for three weeks’ operations is reported from the Ladysmith Sluicing Company. The Waikaia dredge worked steadily last week, and the face is being opened out as fast as. possible. The face is 45 yards wide, and the ground averages 22ft in depth. The dredge is making for the smithy, and ia now 75 yards from No. 38 bote. The wash is hard and looks better. The dredge worked 20 yards ahead during the week.

On account of the very hard nature of tie ground met with in the crosscut at the fiaxon mine, Thames, the contractors liod only driven a distance of 13ft last week. This made the total distance driven from the chamber 251 ft. The ground was the hardest met with in the drive, and from its appearance, it looked as if another bar had been struck, but how far, it was impossible to say, as it was of a local occurrence.

Two stopes were in hand over the drive, main level, Hauraki Reefs, Coromandel, last week These wore producing a fair Amount of crushing dirt, also small quantities of picked stone. In tho drive, main level, a fine looking reef was still showing, and a few pounds of good- picked *tone was obtained during the week. At tho old No. 2 level, above the west workings, etoping was in hand over the drive, and tho reef looked most likely for picked stone. In the face of the drive going west, good dirt was still coming to hand, and from this a fair quantity of picked stone was obtained. September 11. Tho master of the Electric No. 1 dredge reports that the repairs to the boiler aro taking longer than was anticipated, but it Is hoped that operations will bo resumed at the end of this week

Tho following cablegram has been sent to the office of tlie Wnihi Grand Junction mine, London: —“Empire lode oast. No.

6 level, at a distance of 856 ft struck (crosscut) ore. The width of the reef is 10ft, worth 36e per ton. At a distance of 871 ft struck (crosscut) ore 3lt w:de, worth 25s pec ton.” The secretary of the Roxburgh Amalgamated Mining and Sluicing Company has received a message from the manager stating that there will be no wash up for a fortnight, heavy rains having caused a number of serious breaks in the race, requiring the whole of his time from August 17 in clearing away the slips and making t'he necessary repairs. The Secretary of the Nokonial Hydraulic Sluicing Company reports that No. 1 elevator reached bottom on Saturday. 1 here was a body ot wash from sft to 6ft thick, and carrying lair prospects. An additional return of 21oz 15dwt was obtained from No. 2, making a total of 2320 z 15dwt for the paddock. The stripping off of the top material was commenced on Tues»*y, the 2nd inst., and the manager expected to bo elevating on Monday. At No. 3 all hands were to start on luesday cleaning out the Lion iaco. The Electric No. 2 dredge worked 3011 ahead last week. The prospects continue to bo fair. The bottom is mostly hard an-J uneven, but carries a body of rough, tigiit wash, which tests the machinery to its utmost. The secretary received the following telegram yesterday afternoon from the drcdigomastcr :—‘‘River up 4 ft, but at^ a ' n receding; am obliged to sh ft tack to shallow ground till river falls to lower level. The Rise and No. 1 dredge had a steady run last week, and though the ground continued poor, the presence of wash stones and ‘‘maorics” indicated an early improvement. There is still a good of coal bottom. The secretary has been advised by the company’s consulting engineer that the elevator reached the No. 2 dredge at the end of last week, and is now being riveted preparatory to its erection. The present low state of the river prevented the dredge fiom being taken over to the No. 2 claim. The elevator was therefore brought round to the dredge by road. The master of the Success dredge, reporting on the 9th inet., states that the dredge had a good run of 115 hours last week, winning a return of 360 z 16dwt frojn the south end of the cut. A working face 9 chains wide has been opened up, and the return shows that the ground has improve" since the return of 270 z was won from this part of the claim last month. The ground operated last week was a stretch of the face chains wide, and '6 some of the roughest ground on the claim. The remainder of the race is easy to dredge. The dredge is^ : n good running order, and judging by iru. - cations the returns arc likelv to improve. September 12. A telegram was received oir Thursday morning from the postmaster at Alexandra stating that the Molyneux River was 9ft 9.n above the normal mark, heavy rain having fallen during the night. The weather was clearing. The Olrig dredge had a steady run last week, the nature of the ground remaining practically unchanged. Some parts are very hard and stony. The Electric No 2 dredge washed up on the 11th for a return of 41oz 4dwt for five days’ work. The dredgemaster reports that the river has risen a further sft, and the dredge has been stopped in the meantime. An application for the grant of a water right out of the Manuherikia River for mining purposes was heard in the Warden’s Court at Blacks on Wednesday, and refused on the ground that owing to the shortage of water in the river in the dry seasons there was hardly a sufficiency of water in the river for the purposes of the Government irrigation scheme. A good deal of local interest attaches to the question of the mining industry versus the agricultural industry. The master of the Success dredge reports a return of 30oz 7dwt for 109 hours’ work.

Our Grc-ymouth correspondent informs us that splend.d prospects have been, obtained by the Lake Hochstetter Goldfields Company at Irishman’s, which is omy about two miles and a-half from the lake. It is probable that sluicing; operations will bo commenced at this' point as soon as the water is available.

September 13. A return of 9oz lldwt for 131 hours’ work is reported from the Waikaia dredge. Hie secretary of the Karaunui Company reports a return of 17oz 17dwt for five days’ work

At tire annual meeting of shareholders in the Manuherikia Company, the Chairman s*ated that the working expenditure for the past year amounted to £2577 5s 2d. Tins should have been stated at £1977 5s 2d, however, the former figure including £6OO distributed in dividends.

The return furnished by the New South Wales Under-secretary ior Mines shows that tile gold yield recorded for that State for July was 15,4210 z crude, equal to 12,2550 z fine, valued at £52,058, us compared with 20,9920 z crude, equal to 16,5100 z fine, valued at £70,123 for the same month in 1912 The yield for the first seven months of this year amounts to 102,7070 z crude, equal to 82,4460 z line, valued at £350,209, as compared with 115,0290 z crude, equal to 94,8180 z. tine, valued at £402,760. for the same period of 1912, showing a decrease of 12,3720 z fine, and £52,551 in value. September 15. The work of plating the road and putting in new sleepers whore requireel has been completed up to the junction of the bidfall and Dunedin reef, Watchman mine, Tararu. Driving was continued on the reef in the east drive, Kuranui mine, Thames, last week. The face was exteneled 10ft through a good, firm class of country. The reef in the face was more compact than hitherto, and bore a promising appearance. A better class of country was again making in the top slope on No. 2 reef, Occidental Consolidated mine, Thames, last week. The ore broken showed some good dabs of gold. The south stope also continued to. look promising, strong dabs of gold being seen in some of the ore. A little picked stone was selected from it. Seven feet were risen in the rise from the south drive, making a total of 52ft from No. 5 level.

The total value of the gold production of Australia to date aggregates the enormous sum of £536,196,981. Victoria heads the list with a value of £289,663,909. West Australia comes next with £103,850,436, followed by Queensland with £73,739,851, New South Wales with £58,760,846, Tasmania with £7,245,932, and the Northern Territory with £2,043,017, South Australia coming lust with a total of £892.810. The quantity of gold raised in Australia attained its maximum in 1903, in which year West Australia also attained its zenith. In

llie rest of the States the years in which the greatest aggregate yields were recorded were as follow: —New South Wales in 1852, Victoria in 1857, Queensland in 1900, South Australia in 1904, and Tasmania in 1899. The yields at the periods mentioned read: New South Wales (1852), £2,660,946: Victoria (1857), £11,520,852: Queensland (1900), £2,871,578; South Australia (1904), £/6,025; Tasmania (1899), £527,545.

Tim loiiowing cablegram has been de- | spatched by the management of the Waihi I mine to the London office:—“No. 10 level. Royal lode cast, 31ft driven, value 5s 6d per ton; west, 17ft driven, value 9s 6d per ton. At 420 ft the lode is 15ft wide; first 9ft value 6s 6d per ton; next 4ft, value 45s 6d per ton; next foot country; last foot, value 5s 6d per ton. Empire lode west at 702 ft. Crosscut to the north. 17ft of quartz, 12ft wide value 6s 6d per ton. Martha lode south, section west, at 579 ft; crosscut to I t>ho north 50ft; north section of lode 15ft j wide, valued Is 6d per ton. Dreadnought lode, cast of No. 4 shaft crosscut, 55ft has been driven, value 58s 6d per ton. Iho lode is about 4ft wide. Welcome lode south, section west: Next 23ft quartz and country next 37ft, value 14s per ton. No. 11 level: Crosscut north from No. 5 shaft at. 26ft in Royal lode, sft wide, value 5s (xl per ton.” September 16. The postmaster at Alexandra telegraphed on Monday morning that the Molyneus River was at the Bft 6m mark. The weather was fine. A return of 17oz 14dwt for 134 hours work is reported from the Rise and Shine No. 1 dredge. The secretary of the Manuhenkia Company reports a return of 19oz for a week s work. . , R'sing on No. 1 leader, intermediate level, Waitangi Consolidated mine, Tararu, a further Height of 6ft has been reached, making a total height from the back of the drive of 24ft. At this point a connection was made with No. 1 w.v.ize in No. 3 level, and this had made a great improvement in the ventilation. The ore in the leader was of a good grade showing free gold. A selection of 51b of picked stone was made. Driving east from the rise in No. 2 intermediate level, a further distance of 4ft was reached, making a total distance of 21ft from the rise. The ore looked very promising. An extension of sft west was made on the new reef in No. 4 Beach level. This made a total distance of 60ft from the main diive. The reef was 4ft in width, and was veryhard to break. Some of the ore looked very well and showed good muieraks, but no gold was seen. Opening out for the main rise from the eastern end of No. 4 level was commenced. The starting point was about 20ft west of the fault where the big flow of water was met with. A height of 3ft was reached, also a length of 10ft Before meeting the underlie of the maiji portion ol the ' reef a few more feet would have to be risen.

* olos from Cromwell. (From Our Own Correspondent.) CROMWELL, September 11. Though the river is up considerably in consequence of much rain during the ■week, it is doubtful if it is sufficiently high to enable the Rising Sun dredge to get down to the lower end of the claim. It is at present working a portion of the reserve, and it is likely that some arrangement will bo made to do this and to stack the tailings against the bank to stop erosion and also to confine the river. ■ The elevator of the Rise and Shine No. 2 dredge will soon be fixed up, and dredging should be started in about a week.

ROSS GOLDFIELDS. HOKITIKA, September 15. Development work is still proceeding at the Ross Goldfields mine, but it is expected that it will be some time before wash is lifted. A good deal of preliminary work will necessarily have to be accomplished before active mining operations are commenced. WAIIII REEFS GIGANTIC CONSOLIDATION. (From Our Own Com espon dent.) WAIHI, (September 15. The preliminary prospectus of the Waihi Reefs Gigantic Consolidation (Ltd.) has been issued together with a plan of the property, which also shows the workings of the adjoining mines (Waihi and waihi Grand Junction) and the estimated strike going east of two of the mine lodes (Martha and Empire) of the Waihi reef system. The total area is 799 acres, and includes the Waihi Reefs property (formerly Waihi Consolidated) and several adjoining blocks going east (now known as the Uigantic Consolidation). On the Waihi Reefs property the main shaft is already down rather over 900 feet, and is in what is known as the older andesite country, but having regard to the dip of the country going east from the Waihi mine it is intended, subject to the flotation of a company, to carry the shaft to a depth of 1200 feet before throwing out crosscuts for the purpose of intersecting the reef system. In the opinion of competent persons with a wide knowledge of the geological and other conditions affecting mining on the Waihi field, the depth mentioned (1200 feet) should be sufficient to give a good idea of the future prospects of the property, both in the matter of the, extension of the reef system east and the values of the ore bodies. According to the plans accompanying the prospectus, both the Martha and Empire reefs should bo met with, provided they live in tins direction and the estimated strike is maintained, and the Royal reef should also run in the property. Only time can determine the value of the area being offered ; but the block carries decided possibilities. The vendors' proposal provides for a company of 150,000 shares of £1 each, and the provision of adequate working capital.

CROWN MINES. AUCKLAND, September 12. The return of the Crown mines for the month of August was £2285 froin 1355 tons, making the return to date £863,069. KOMATA REEFS COMPANY. AUCKLAND, September 12. During August the Korn ato Reefs Company treated 1000 tons for a return of £IOOO. MOUNT LYELL RETURNS. MELBOURNE, September 12. The Mount Lyell returns from August 7 to September 3, inclusive, show that 26,674 tons of oro were treated and produced 453 tons of copper, 21,4290 z of silver, and 6970 z of gold.

WAIHI MINE. AUCKLAND, September 12. For the period ending August 30 the Waihi Company treated 14,721 tons of ore for a return of £25,039. The total amount won from the mine to date is £10,332,823. MANUHERIKIA DREDGING COMPANY. The annual meeting of shareholders in the Manuherikia Gold Dredging Company was held on Thursday morning. Mr W. T. Talboye occupied the chair, and there was an attendance of eight shareholders. The directors’ report stated that the past year’s operations were not very satisfactory. Tile river during the whole of the year had been very unsteady ; consequently the dredge had not been able to do much dredging, and very little ground was got over. A dividend of Is per shave had been paid, amounting to £6OO. The dredge jnd machinery were all in good order. The Onairm-an proposed the adoption of the annual report and balance sheet, and said that the report did not show very much, but as a matter of fact there was_ very little to say. Owing to the state of the river during the past 12 months very little dredging had been done. A comparison of the balance sheets for last year and 1912 showed that there had been considerably less expenditure in wages and coal during the past 12 months. The expenditure for the year amounted to £2577 5s 2d. and the gold won was valued at £1439 10s 4d. Althougn operations had been carried on at a lose, he was sanguine that the company would bo able to p-ay further dividends. If the river had been favourable they would undoubtedly have been able to show a credit on the year’s work, but for the past two years the river had been so changeable that the dredge rarely had a chance to work for any length of time. The last report from the dredgemaster was 'hopeful. He had stated that a rise in the river would not affect the dredge in its present position. Mr G. Ross seconded the mot on.

In rop’.y to a question, the Chairman stated that there \yaa not much unworked ground in the claim. A lot of gold was lost when the dredge had operated with a screen, but since boxes had been put in it had become possible to recover this gold. The motion was carried unanimously. Messrs J. M'George and A. C. M‘George were re-elected to the directorate, and Mr D. Crawford was re-appointed auditor.

PATERSON'S FREEHOLD COMPANY. The annual meeting of the Paterson's Freehold Gold Mining Company, held on the' 10th instant, was attended by about half a dozen shareholders, and was presided over by Mr W. T. Tulboys (chairman ot directors). The adoption of the annual report was formally moved by the chairman, seconded by Mr J. C. M‘Gcorge, and agreed to without dissent. Messrs James Paterson and J. C. M‘George were re-elected directors, and the directors’ fees fixed at £69 per annum, as previously. Mr James Biown was re-elected auditor at a fee of 5 guineas, the same remuneration as before. This concluded the business. WORKSOP DREDGING COMPANY. The sixth annual meeting of the Worksop Gold Dredging Company \vas held in the company’s office, Perry street, Masterton, on the Ist inst. Mr D. J. Cameron occupied the chair, and there was an attendance of seven shareholders. The directors of the company, in their annual report, congratulated the shareholders on another very prosperous year. The amount of gold won was 44720 z, valued at £17,460 12s 7d, and during the 12 months under review the amount paid to shareholders in dividends was £9900, or 33s per share. Since the accompanying balancesheet was made out a further dividend of 2s per share had been paid, making a total of £5 per share to date. The dredge was now operating on a special claim of 20 acres, and, in addition, prospecting licenses were held for another 160 acres. This had not yet been bored, but ft was intended to test the ground as soon as the boring plant was put in order.

In moving the adoption of the annual report and balance sheet, the Chairman stated that there was not much to say when their company was so successful. Every shareholder must, indeed, feel satisfied with the results which had been obtained from the claim. In the previous year the company had paid in dividends 33s in rhe pound, and it was hardly anticipated that tins vvou:d be repeated, but, however, this had been done by the company during the past year. He had recently visited the claim, and had found everything satisfactory, while prospects were very bright iddeed. When the dredge had started working they had had 50 acres to work on The directors then secured 50 acres from a settlor. When both of these areas had been worked out they obtained a special claim of 50 acres, and this, too, had been worked out and ultimately surrendered to the Government, thus saving rent. The directors then obtained an area of 80 acres, upon which the dredge was at present working. This was a very good dividend-paying section. They had also a prospecting license for 80 acres up the river, and a similar area down the river. There was gold coming down the river, and there was some good ground to work upon. The returns that had been obtained from the low-lying area of 20 acres had been very satisfactory. Mr Cameron fully explained the areas upon which the ilredge would work. Mr N. Miller seconded ihe motion, which was carried. Mr J. Hcssoy was re-elected to the directorate, and Mr A. Hathaway was reappointed auditor. Mr E. Richards, sen., paid a high tribute to the splendid work the chairman was doing on behalf of the company. He moved a vote of tluuikrt to the staff, aiid spoke in eulogistic terms of the mannei in which it had done its work, and its loyally to the company. The motion was earned with acclamation.

dredging returns. Oz. dwt. gr Rising Sun, Cromwell, 133 hrs 44 13 0 Electric No. 2, Cromwell, 5 t ’ iavs 41 4 0 Willowbank, Glenoro, 1301 1 rs 20 14 6 Karaunui, Alexandra, 5 days 17 17 0 Rise and Sliine, Cromwell, 134 lire ... ° Olrig, Manuherikia, wk ... 11 15 0 Waikaia, Waikaia, ISllirs ... 9 11 0 Total 163 6 6 The West Coast. Success, 1091ns 7 0

DUNEDIN STOCK EXCHANGE. The market this week Ims not been so brisk as it was during the previous week, although pr.ccs all round have been fairly well maintained. Investment stocks, practically without exception, have continued in firm demand throughout the week, but very few sales have been effected on ’Change, the market, so far as business is concerned, being in an unusually quiet state for some days past. National Banks have been d.sposed of at £5 7s 6d, with further sellers at £5 8s and buyers up to £5 7s. Bank of New Zealand* have been inquired for at £lO 8s and £lO 9s, but no sellers have been quoted below £lO 12s. The demand for insurance lines has continued steady and firm, but in view of the continued firming tendencies of these stocks sellers seem disinclined to part with their holdings and few selling quotations have been recorded. During the week a meeting of the shareholders in the Union Steam Ship Company was hold and the reconstruction of the company with a capital of £3.000,000 was sanctioned. This is the fourth occasion on which it has been found necessary to increase the capital of the company, which was floated in 1875 with a nominal capital of £250,000. A slight firming has taken place in the company’s shares since the meeting. A parcel changed hands on Thursday at £2 4s 6d. and the market closed on Friday at £2 4s 6d and £2 ss. buyer and seller respectively. Inquiries have beer, made for Westport Coals up to £1 8s 9d, with occasional sellers at £1 9s. A sale was reported early in the week at £1 8s 7d. Three sales of WeetportStocktons have been reported at 4s yesterday’s market containing further sellers at -this price, but no buyers. Perpetual Trustees have been offered consistently at £1 2s 6d, but no buyers have come forward. A fairly large turnover of Mosgiel Woollens has been made during the week, parcels being sold on three occasions at £3 11s 6d, and the market prices remaining unchanged at £3 11s (buyer) and £3 12s (seller). A sale of D.I.C. (prof.) was reported on Tuesday at £1 2s 6d. and the market has contained further sellers at £1 2s 9d, but buyers have not declared. New Zealand Drugs have continued in firm demand at £2 5s 6d without sellers. Business was reported in Wright, Stephensons at £6 10s, buyers on ’Change being quoted up to £6 7s without sellers. New Zealand Paper Mills have been wanted at 16s 6d and Otago Daily Times at £2 13s, but the market has lacked sellers.

The market opened lirm for all classes of stock on Monday, and business was somewhat brisker than during tne previous tew days. Harrley and It.leys were wanted at 3s, with a seller at 4s Del. Ross Goldfields were tinner again, with buyers at 12s lid and sellers at 13s 6d, but the latter seem disinclined to part with their holdings, below the price asked for, as no sales have been effected for some time. A sale of Rise and Shines was reported at £1 9s, but no buyers nor sellers declared yesterday. Buyers of New Sylvias were weak at 9d, w.th sellers still quoted at Is Id. There was a slight improvement in Waihis, which met li close market with buyers at £2 5s 6d and sellers at £2 5s 9d. ‘Waihi Grand Junctions were disposed of at £1 Os 6d, further lots being offered at- £1 Os 9d, with buyers at £1 Os 3d. National Banks continued m lirm demand at £5 7s, with sellers quoted at £5 Bs. A sale was reported at £5 7s 6d. Bank of New Zealands were for sale at £lO 15s, with firmer buyers at £lO 10s. A parcel of Union Steams changed hands at £2 4s 9d, the market closing at £2 4s 6d and £2 ss, buyer and seller respectively. Strong inquiries were made for Westport Coals at £1 8s 10d, but sellers did not declare. Mosgiel Woollens had sellers at £3 12s and New Zealand Drugs at £2 5s 6d, but no buyers were quoted. The following are yesterday » latest qi stations, subject to the usual brokerage:

Dredging Stocks. Electric —Sellers 4s fid. Hartley and Riley—Buyers 3s, sellers 4s Manuhorikia —Buyers Is 3d,'sellers 2s 6d. Rising Sun—Sellers £1 ss. Mining Stocks. Ross Goldfields —Buyers 12* lid, sellers 13s 6d.. , New Sylvia—Buyers 9d, sellers Is Id. Old Hauraki —Sellers 3d. Saxon —Buyers fid, sellers lOd. - Watchman —Sellers 3a. Talisman Consolidated Sellers £2 2s fid. Waihi—Buyers £2 5s fid, sellers £2 5s 9d. Waihi Grand Junction Buyers £1 Os 3d,' sellers £1 Os 9d. September 9.—Wcstport-Stockton, 4s lid; D.I.F. (pref.), £1 2s fid; National Bank, £5 7s fid; Mosgiol Woollen. £3 He fid. September io.—Westport Stockton, 4s Sale reported.—Mosgiol Woollen, £3 lls

(September 11.—Union Steam, £2 4s fid. September-13.—Union Steam, £2 4s 10id, £2 4s lid, £2 5s 3d ; Nokomai Hydraulic, £1 4s (September 15.—Waihi Grand Junction, £1 Os fid; Union Steam, £2 4s 9d. Sales reported: —National Bank, £5 is fid : Rise and Shine, £1 9s.

AUCKLAND STOCK EXCHANGE. AUCKLAND, September 15. The following sales were made on the Stock Exchange to-day:—Waitangi, 8d: Occidental, 9d; Waihi Grand Junction, £1 Os fid; Auckland Gas, £1 9s.

WELLINGTON STOCK EXCHANGE. WELLINGTON. September 15 The following fialce wore made on the Stock Exchange to-day Westport-Stock-ton. 4s 2d; Wuihi, £2 5s 3d.

CANTERBURY STOCK EXCHANGE. CHRISTCHURCH, September 15. A sale of Wcstport-Stookton shares was made at 4s 2d to-day.