MINING

Otago Witness, Issue 3196, 16 June 1915, Page 64

MINING

, WEEK’S MINING NEWS June 9. A return of 20oz 17dvvt for 138 hours’ work is reported from the Willow bank dredge. The following cablegram has been sent to the head office of the Waihi Gold Mining Company, Ltd., London: —“No. 10 level, Edward lode, south of No. 2 shaft: 28ft driven, value 9s 6d per ton; at 1248 ft south, the lode is 142 ft wide; value 11s 3d per ton. No. -11 level, Royal lode, cast of No. 4 shaft, south-east crosscut: 88ft driven, value 9s 6d per ton. Martha lode, south section, west of Bath crosscut: 13ft driven, value 4s 9d per ton.” Juno 10. The master of the Rise and Shine No. 1 dredge reports that the dredge worked under the usual conditions last week, and got good prospects, particularly in the western half of the cut. The Rise and Shine No. 2 dredge made 12ft ahead during the week, working a cut of 21ft. The depth ranged from 38ft to 50ft, with coal and clay bottom. Some large stones came in during the week, and as the ground is much tighter than for some time past, the dredgemaster looks for an early improvement in the returns.

The master of the 01r>g dredge states that the ground was loose and poor last week, and that there would be no ■wash-up this week, as he was putting the new tumbler into position. The master of Electric No. 1 dredge reports that during the past week the dredge worked 123 hours for a distance ahead of 18ft. The bottom was composed of sandstone and clay, and most of it was easily dredged. The prospects had been variable, and on the sth inst. were-moderate. The width of the cut was 110 ft, and was being extended on the Bannockburn side. The sample of gold was of a finer nature. The master of Electric No. 2 dredge reports for the past week that the dredge advanced 50ft. The narrow gutter from which the last three returns were obtained had pinched out, and the dredge was pulledi ahead 20ft over a hard bar. The dredgo was now working on a wider cut, and the bottom was soft and chippy. Prospects, which had been poor in the latter half of the week, showed an improvement. Twenty pounds of picked stone have been secured from the stone below No. 5 level at the Occidental Consolidated mine, Thames. The main work in hand has been the installing of a new winch and electric motor for hoisting from the main shaft. The machinery was tried, and ran satisfactorily. June 11. The West Coast Times reported on Monday that the Success dredge washed up for a return of 41oz 3dwt for the week. The return from the Talisman Consolidated mine for the month of May was 4060 tons, valued at £19,173, and the total costs were £2 10s Id. The following cablegram has been sent to the head office, London: —“Woodstock: No. 4 crosscut, progress 15ft; commenced driving north at 150 ft, progress 35ft. North drive: Off No. 2 winze, lift, reef 45in wide, valued at £8 7s 6d. No. 15 level: North, 557 ft to 571ftfreef 69in, valued at £3 Is; 571 ft to 610 ft, reef 63in, valued at 3s; 610 ft to 614 ft, reef 72in, valued at £2 10s.” June 12.

A return of 230 z; 17clwt for the week is reported front Electric No. 1 dredge, and of 340 z 13dwt for 126 hours from the No. 2 dredge. A dividend —the forty-second—of Is per share for the quarter was paid to shareholders in the Talisman Consolidated Gold Mining Company (Ltd.) on Tuesday. This absorbed £17,250, and brought the total dividends and bonuses paid since reconstruction to £1,017,284 7s 6d. There are 1366 colonial shareholders on the register of the company, holding 255,873 shares, and the amount of £12,793 13si was distributed to them. The previous dividend was paid on February 27, and amounted to Is 9d per share; there was a bonus of 3d per share on that occasion, also. There were then 1347 colonial shareholders on the company’s register, holding 256,873 shares, and they received £25,637. The total amount of bullion won from the mine to date is £2,444,162 11s 9d. A cablegram has been received from the London office of the Talisman Consolidated Company stating that the. annual meeting will bo hold on June 15. The statement of accounts shows that the gross profits fertile past year were £138,963, and the net profits £120,830. Dividends paid amounted to £120.750. The sum of £21,201 has been carried forward. The accounts also contain the following items: —Amount on investment, £78,000; bullion in transit, £900; sundry debtors, £768; cash balance, £22,120; sundry creditors, £16,812; bullion reserve, £BOOO. June 14.

The manager of the New Waitaia mine Kuaotunu, telegraphed on Wednesday as follows; —“Treated 132 tons of general ore

for 426a0/, of melted bullion, valued at £1095. June 15. A return of 250 z for 15,0 hours’ dredging: is reported- from the Rod Jacks dredge. The following is a copy of a cablegram sent to the head office in London of the Waihi Grand Junction Gold Mining Company: —“Wo are crushing 425 tone per day, and the actual extraction is 30s per ton. Pumping compartment of No. 1 shaft is now down 1264 ft. The flow of water equals 10,000 gallons per hour. 1 ” ROSS GOLDFIELDS. WELLINGTON, June 9. The Ross, mine superintendent reports that during the week ended Juno 3, No. 2 wing drive east has advanced 25ft in wash which is payable over a depth of 3ft. The northwest drive of No. 3 shoot has been- extended 28ft in fair grade wash. Blocking is proceeding oft Nos. 2 and 3 south-west drives and No. 4 north-east drive. For the week just ended the mine return was 420 z of gold from 913 trucks of wash. TALISMAN CONSOLIDATED CO. AUCKLAND, June 9. — During May the Talisman Consolidated Company crushed and treated 4060 tons of ore for a yield of bullion valued at £19,173 15s 4d. Tiro costs for the month totalled £2 10s Id per ton.

DREDGING RETURNS.

DUNEDIN STOCK EXCHANGE. The share market during the past week has shown little activity, the fortnight just concluded being one of the quietest experienced for a long time. Standard stocks have not been active, although prices, on the whole, have been maintained. Two sales of National Banks have been reported at £5 10s, the market closing on 'Friday with buyers at £5 10s and sellers at £6 10s 6d. Ths old issue of Bank of New Zealands has been steady, with sellers at about £ll 10s, buyers as high as £ll 9d failing to do business. Sellers of the new issue on Friday asked £l7 12s, with no buyers. Union Banks have been placed on the market at £57 10s, with buyers up to £57 ss. Insurance shares have been quiet, and there has not been much fluctuation in prices. New Zealand Insurances have been regularly in demand at £6 4s and_£6 3s, but sellers have been unwilling to quit at those prices. New Zealand Shippings had inquiry at £l6 10s, and latterly at £l7, with no declared sellers. Union Steams (ordinary) have firmed, buyers offering £1 3s and sellers asking £l 3s 6d. A sale of this issue was reported at £l. 5s 3d on Monday, and on Friday a sale was effected at £1 3s 6d, the market closing with further buyers at £1 3s 6d,-and sellers asking £1 4s. Westport Coals have shown little movement. A parcel was sold on Friday at £1 11s 6d, with closing quotations at £1 11s 3d (buyer) and £1 11s 9d (seller). Buyers of National Mortgages have been quoted at £4 Is and £4 Is 6d, D.I.C. (preference) at £l, and Taupiri Coals at 15s, with no sellers.' A sale of D.I.C. preference shares was reported at £1 Os 3d on Wednesday. Milburn Limes have been in demand at about £1 12s 6d, at which price a sale was reported. Mosgiel Woollens and New Zealand Drugs (£2 paid) have had inquiry at £3 16s and £2 6s respectively, with no sellers. A sale of New Zealand Paper Mills at 17s has been reported, sellers asking 4d more on Friday, with no buyers. A small volume of business was transacted on the Dunedin Stock Exchange on Monday. In dredging stocks a sale of Rise and Shines at £1 9s 6d was effected, with no closing quotations. Sellers of Electrics were quoted at 4s, with no buyers. In mining shares, Talisman Consolidateds were easy at the first call at £1 Is 9d (buyer) and £1 2s 9d (seller), and Waihi Grand Junctions were quoted at £1 3s 3d and £1 3s 9d, buyer and seller respectively, but there were no later quotations for either of these stock®. A sale of two parcels of the latter, however, was effected at £1 3s 6d. Mount Lyells had buyers at £1 6s 9d, with no sellers. In investment lines, a sale of National Banks was reported at £5 10s 6d* a buyer offering £5 10s, with no sellers. A' sale of Bank of Australasias was reported at £122 10s. The old issue of Bank of New Zealands had inquiry at £ll 9s, with no sellers. Union Steams (ordinary) were in demand at £1 3s 9d, with sellers in the morning at £1 4s. There was inquiry for Christchurch Meats at £l6 6s 6d, and other stocks were quoted at current rates. The following are Monday’s latest quotations, subject to the usual brokerage: Drkdginq Stocks, Electric—Sellers 4s. Mining Stocks. New Sylvia—Buyers 6d. Waihi —Buyers £1 18s, sellers £1 19s. Mount Lycll—Buyers £1 6s 9d. June 8. —Waihi, £1 18s 6d. June 9. —Mount Lyell, £1 6s 4d; D.I.C. (prof.), £1 Os 3d; Whitcombe and Tombs. £6 3s; Milburn Lime and Cement, £1 12s 6d. Juno* 10. —National Bank, £5 10s, Juno 11. —Electric, 3s 6d; Waihi Grand Junction, £1 3s 6d (two parcels); Union Steam (ordinary), £1 3s 6d; Westport Coal. £1 11s 6d. Sales Reported.--Electric, 3s 6d (two parcels) ; Waitangi, Is 3Ad. Juno 12. —National Bank, £5 10s 6d. Juno 14. —Waihi Grand Junction, £1 3s 6d (two parcels). (Sales reported;—Bank of Australasia-, £122 10s; National Bank, £5 10s 6d; Rise and Shine, £1 9s 6d.

AUCKLAND SHARE MARKET. (P*b United Press Association.) AUCKLAND, Juno 14. A sale of Waihi Grand Junctions at £1 3s 3d was effected on ’Change to-day.

WELLINGTON SHARE MARKET. WELLINGTON, June 14. The following Stock Exchange sales were reported to day Talisman, 22e 3d ; National Bank, £5 10s; Bank of New Zealand (old), £ll 10s: Bank of New Zealand (new), £l7

10s; Wellington Meat Export (£5 paid), £5 ss; Golden Bay Cement, 225. Closing mining stock quotations were as follow Talisman, sellers 22s 6d; Waihi, buyers 38s 6d, sellers 38s 9d; Waihi Grand Junction, buyers 23s 3d, sellers 23s 9d; Waitangi, buyers Is 4d, sellers Is 6d.

CHRISTCHURCH SHARE MARKET. CHRISTCHURCH, June 14. The following sales were reported on ’Change to-day -.—Union Bank of Australia, £57 ss; New Zealand Portland Cement Company, 8s 3d; Waihi, 38s 6d.

Oz. dwt. gr. Rise and Shine No. 1, Cromwell, 130hrs 80 6 0 New Golden Run, Island Block, 129hrs 49 12 0 Electric No. 2, Cromwell, 126 hours 34 13 0 Golden Bed, Ettrick, week ... 25 0 0 Rising Sun, Cromwell, week Electric No. 1, Cromwell, wk 24 3 0 23 17 ' 0 Rise and Shine No. 2, Cromwell, 134hrs 16 10 0 Total 254 1 0 The West Coast. Success, week 41 3 0