MINING.

Otago Witness, Issue 3309, 15 August 1917, Page 22

MINING.

WEEK'S MINING NEWS August 8. The secretary of the Nokomui Hydraulic Sluicing- Company reports that No. 2 has started stripping oft the top material in the next paddock. No. 3 is still idle owing; to the hard frosts experienced. August 9. The Rise and Shine No. 1 dredge will resume work at the beginning of next week. Last week tho No. 2 dredge worked on a bottom of soft red clay, which carried fair prospects. There were a good many large Stones in the wash, which was very tight. The gold was rather finer than usual, and very dark. It will take some time yet to open out a face sufficiently wide for the effective working of the ground. During July the Murray Creek Gold Mining Company crushed 1196 tons of quartz for a gross estimated r'eturn of £34-10. Only 17 stampers were in use. The wholo 20 stampers have been in conunission since August 1. The master of tho Electric No. 2 dredge states that the dredge worked fairly steadily last week, having advanced 70 feet. For three days tho prospects were fairly good, but hard bottom was then encountered. Soft bottom again camo in, and at the time of writing the prospects were fair. August 10. The master of the Electric No. 2 dredge reports a return of 31oz 12dwt. The dredge is to be stopped shifting down stream today. At tho annual meeting of tho Victorian Chamber of Mines, the President, Mr E. C. Dyason, summarised tho results obtained last year. Tho Victorian gold yield for 1916 totalled 256,6430 z fine, a decrease of 72.4250 z upon. the returns for 1915. To date the value of tho Victorian goldi production was £297,794,000. Fifteen miningcompanies were registered in 1916, with a nominal capital of £129,150, and subscribed capital of £105.520. The total number of men employed in mining during the year was 8186. "in all, 417,831 tons of black coal, and 2195 tons of brown coal were mined. The brown coal_ resources of the State, he said, were receiving renewed attention by the Government. To the manufacturer this development was a most important one, as the power, which might be generated by large plants on the fields. could bo conveyed to Melbourne by trunk lines in any quantity. Tho extent and commercial value of the by-products recovered would bo considerable. During tho period ended July 23, the

Waihi Company crushed 15,871 tons for a return of £26,556, against a yield of £26,154 from 15,040 tons last year. August 13. The- lu-st published report of tho uianugcr of the Rising .Sun mine elated that the ore broken in the atopes on No. 1 reel over the low level was highly payable. The reef on No. 3 block is 3ft wide, the value being good. In No. 4 block the width of the reef is 2£ft, the value being also good. August 14. The return from the Olrig dredge was Boz for last week. The dredgeniuster reports that the ground is still deep, but is improving. During the period ended July 28 the Waihi 'Gold Mining Company crushed 15,871 tons of ore for a return of £26,856, against a yield of £26,154 from 15,040 tons of ore last year. The Talisman Consolidated Company, during July, crushed and treated 1560 tons of ore for a return of bullion valued at £12.648 19s 9d. Compared with the return for tho corresponding period of last year, when 1430 tons yielded £5634 5s 6d, this shows an increase of £7014 13s 3d. The costs for the past month totalled 26s 7d a ton. The total value of the bullion won from the mine to date is £2,713,522. TALISMAN CONSOLIDATED COMPANY. AUCKLAND, August 8. The Talisman Consolidated Company crushed and treated 1560 tons of ore for a return of bullion valued at £12,648, compared with 1420 tons, yielding £5634, last year. The total won to date is £2.713,522. D REDOING RETURNS. Oz. dwt. gr. Rise and Shine No. 2, Cromwell, 1.Z5 hours 45 6 0 Riding Sun, Cromwell, lllhrs... 28 17 0 Total 74 3 0 DUNEDIN STOCK EXCHANGE. Business has progressed evenly on 'Change during the.present week. Interest in dredging shares has been mainly confined to Rise and Shines, which have been in firm demand at £1 0s 9d, with sellers asking from £1 Is to £1 2s 9d. In the mining market Waihis have been on the market at £1 17s 6d, with buyers offering Is less. Grand Junctions, which were the medium of a little business at the second call on Friday, remain fairly steady in price. There was a buyer on Friday at 16s 3d and a seller at 15s fid. No interest has been shown in Mount Lyell shares. Edna May Uoep Levels have had good inquiry, and were on the market on Friday at £1 9s. In investment stocks Bank of New Zealands (old issue) have been on offer at £l2 17s, but little demand has been manifested. Tho new issue was sought on two occasions at £l7 12s and £l7 13s, without attracting a seller. National Insurance shares have had good inquiry, but no business has been transacted. There was a seller on Friday at £2 18s 6d. Sales of P. and 0. deferred stock were effected during the Week at £328, and the market closed with a buyer at £327 10s, and a seller at £329. The Union Company's preference issue has been in firm demand throughout the week at £1 Is 3d. Huddait-Parkcr shares continue firm, and have been well sought after. There was a buyer on Friday at £1 13s 3d and a seller at £] 13s sd. Wostport Coal shares are a little- easier, being in demand at £1 10s, with sellers asking £1 103 9d. Ordinary Westport-Stocktons show little fluctuation .n price. Dominion Rubbers have firmed slightly during the week. Buyers offered £2 2s, but sellers wanted £2 3s 6d. These shares were not in demand when the market closed on Friday. Dunedin-Kaikorai Trams have had steady inquiry at £1 3s, but no seller came forward at any time. New Zealand Refrigerating shares have had the usual inquiries "without attracting sellers. New Zealand Portland Cement (pref.) has boon on offer at £1 2s, but no sales were transacted. Paper Mills are about even with recent prices. Woollen shares continue firm. Oamaru Woollens (ord.) were in demand at £1 8s 9d, without a seller, and Kaiapoi shares at £6 10s, with a seller at £7 2s 6d. Mosgiel Woollens are a little easier. The market closed with a buyer at £4 10s and a seller at £4 18s. Waihi shares were in demand on 'Change on Monday at £1 16s 3d, with a seller at £1 17s. Grand Junctions had a buyer at 15s, and a seller at 15s 9d. Talisman Consolidateds were firm, with a buyer at 10s 9d and a seller at lis 3d. In investment shares National Banks were on offer at £5 10s, without a seller. National Insurance shares were wanted at £2 17s 9d. with a seller at £2 18s 3d. Huddart, Parkers firmed slightly, being in demand at £1 13s 6d, and on offer at £1 14s. There was a buyer of Westport Coal shares at £1 9s 6d and a seller at £1 10s 9d. There was a seller of ordinary Portland Cements at 10s, and of tho preference issue at £1 Os 9d. but no buyer in either case. Paper Mills were on the market at 19s 4d. The following aro Monday's latest quotations, subject to the usual brokerage:— DHEDGING STOCKS. Rise and Shine—Buyers £1 Os 9d, sellers £1 2s 3d. Mini no Stocks. Talisman Consolidated —Buyers 10s 9d, sellers lis 3d. Waihi—Buyers £1 16s 3d, sellers £1 17s. Waihi Grand Junction—Buyers 15s, sellers 15s 9d. August 7.—Huddart, Parker (ord.), £1 13s O] Snle Reported.—P. and O. (deferred), £328. August B—P. and O. (deferred), £328; Huddart, Parker (ord.), £1 13s 5d (two parcels). August 10.—Waihi Grand Junction, 15s 3d. August 11—Huddart-Parker (ord.), £1 13s 6d. AUCKLAND STOCK EXCHANGE. AUCKLAND, August 13. Tho following business was recorded on 'Change to-day :—Sale reported : Bank of New Zealand (fully paid). £l7 15s.