MINING.

Otago Witness, Issue 3314, 19 September 1917, Page 22

MINING.

WEEK’S MINING NEWS

September 12. The Wailii Company during- tho period ended August 25 crushed and treated 15,626 tons of ore for a return of bullion of an estimated value of £27,101. Compared with tho return for the corresponding period of last year, when 15,592 tons yielded £28,046 — actual value —this shows a decreaso of £945. In view of the present high price of silver, however, the sum realised for the past month's output will probably moro than make up this difference". The total amount won from the mine to date is £11,725,505. The following information was contained in a cablegram sent to tho head offico in London of the Waihi Grand Junction Company last week:—" Wo are crushing 410

tons per 24 hours; the extraction is £1 15s per ton. September 13. The- secretary of the- Ladysinith Sluicing Company reports a return of 460 z for three weeks' sluicing. The secretary of the Nokomai Hydraulic Sluicing Company reports that a start was maclo on Wednesday, sth inst., at No. 2 to strip the top material oil tho next paddock. A lull week's sluicing was done at No. 3 claim, and very fair progress was made. Tho Rise and Shino No. 1 dredge is expected to begin -work on the company's freehold at the end of tho present week. Tho No. 2 dredge worked at an average depth of 35ft, on a bottom of soft white clay on tho western side, and red clay in tho other part of the cut. The -wash was very heavy, and tho sample of gold was similar to that obtained during the previous few weeks.

September 14. In reporting a return of £14,440 from 1660 tons of ore treated, the manager of the Talisman Consolidated mine states that the costs for the month totalled 72s 4d, made up as follows: Mine development, 20s sd; mining, 25s Id; milling, 21s lOd; general, ss. September 15. Stoping was continued over the low level on No. 1 reef of the Rising Sun mine last week. In No. 3 block the reef is a solid body of ore, its size being an average of three and a-half feet. The block throughout carries good values, but owing to its hard nature is difficult to break with tho present system of hand steel work. In No. 4 block tho reef is an average width of one and a-half feet, and the values are not at' present quite as good as that previously stoped. " The results of the samples taken from the stopes were: No. 3 block, £6 15s per ton; and No. 4 block, £2 per ton. September 17. Tho return from the Rise and Shine No. 2 dredge for 135 hours was 60oz lldwt. The following report on the Mount Lyoll mines was issued for the fortuitrht ended August 29:—North Mount Lyell: 850 ft level. No. 312 diamond drill bore to 50ft; 925 ft level crown drive reached 102 ft point through quartzitic ore ■ 1000 ft level crown shaft rise lifted to 57ft . through chloritio schist; 1100 ft level No. 314 diamond drill bore completed at 174 ft; No. 315 completed at 47ft. Reduction works: Two furnaces in blast during fortnight. During current half-year 2201 tons blister consigned to electrolytic works, Port Kembla, for refining. September 18. The return from the Olrig dredge last week was 6oz.

The yield of gold in Victoria for July was 17.2100 z gross, or 16.2290 z fine, valued at £68,937. .This shows a decreaseof 7920 oz fine as compared with the yield for July last year. The return for the last seven months was 124,8160 z gross, or 115,9050 z fine, valued at £481.373. Compared with the quantity won during the corresponding period of last year a decrease of 33,8650 z fine occurred. MOUNT GREENLAND MINE. AUCKLAND, September 17. At a shareholders' meeting, Mr Veitch, M.P. for Wanganui (a director of the Mount Greenland Gold Mining Company), reported that crushed stone from the mine was yielding soz of gold, worth £4 per pz, to the ton. The line of reef at Ross has been traced for three miles, and many claims have been taken up. The company has won from 190 tons £2OOO on the surface levels. DUNEDIN STOCK EXCHANGE. Only an average amount of business has been transacted on 'Change during the past week, and thero arc few noteworthy fluctuations in price to record. The majority of investment stock lines continue to suffer to some extent from the overshadowing influence of the War Loan, and have not yet recovered from the set-back caused by the transfer of so much' money into publio investment. An exception has to be made in the oaso of National Insurances, which have firmed ' appreciably on thennormal prices, and have been the medium of business during the week at £3—an advance of some 4s over the previous week's rate 3. The closing quotations on Friday revealed a further firm inquiry for these shares at £2 19s 3d, with a seller asking £3 0s 6d. South British Insurances also seem to have improved slightly in price, and the latest quotations are in the neighbourhood of £5 13s and £5 17s—buyer and seller respectively. National Banks and Bank of New Zualands are slightly weaker than usual, and a sale took place in the former scrip early in the week at £5 3s, and one in the latter (new ifsuo) on Wednesday at £l7 12s. Huddart-Parkcrs have fairly well maintained their recent values, and were inquired for on Friday at £1 12s 9d, with a seller at £1 13s 3d. Westport Coals have been even throughout the week at prices somewhat below those prevailing a few weeks ago, and are quoted at about £1 8s 6d and £1 9s 3d—buyer and seller respectively. Dominion Rubbers have shown few fluctuations, and Dunedin-Kaikorai Trams aro still in demand at £1 3s, with few opci-at-ing. There were buyers of National Mortgages on Friday at £3 15s 6d and > of New Zealand Drugs at £2 12s, but in neither case were sellers forthcoming. M'Gavin and Co.'s shares wore on offer at £1 Is, without a buyer, and Malay Rubbers were wanted at 16a, but there was no seller. Mining and dredging lines were quiet, > and little business seems to be passing in any of these shares. Waihis have shown a tendency to ease slightly, and were quoted on Friday at £1 14s 9d and £l_ 15s 6d—buyer and seller respectively. Talisman Consolidateds and Waihi Grand Junctions have remained practically unchanged throughout the week. Waiotahis have had a buyer on several occasions at sd, but sellers have been holding out for Is. A considerable number of dredging shares have been placed on offer during the week, but buyers have been scarce, and little, if any, business has resulted.

Business was quiet on 'Change on Monday There was a buyer of New Zealand Insurance shares at £7 15s, and of South British at £5 12s, but no seller in either case. Huddart-Parkor ordinary shares were in demand at £1 12s 9d, with a seller at £1 13s 2d. Both issues of Kaiapoi Woollen stock wore in demand at £6 10s. Ther-') was a seller of the ordinary issue at £7. and of the new issue at £6 i7s. A sale of New Zoaland Refrigerating shares (£2 paid) was reported at £5 10s. The following are Monday's latest quotations, subject to the usual brokerage: Mini no Stophb. Talisman Consolidated—Buyers lis 3d. Wnihi—Buyers £1 14s 9d. sellers £1 16s. Waihi Grand Junction —Buyers 15s, sellers 16s. September 12. —Bank of New Zealand (new), £l7 12s.

Sept. 14.—National Insurance, £3. bept. 17.—New Zealand Refrigerating Company (£2 paid), £5 10s.

AUCKLAND STOCK EXCHANGE. AUCKLAND, September 17. Ihc following sales were recorded on 'Change to-day:—New Zealand Insurance. £7 16s; Waihi, £1 15s. CHRISTCHUROH STOCK EXCHANGE. OHRISTOHURCH, September 17. _ On 'Change to-day a sale was effected in Booth, Macdonald at £l.