MINING.

Otago Witness, Issue 3333, 30 January 1918, Page 22

MINING.

WEEK'S MINING NEWS

January 23. The secretary of the Nokomm Hydraulic Sluicing Company reports that at Jno. 2 the elevator was up and. the main line of pipes were extended. Stripping off the top material is expected to start on the Slsv. at No. 3. The elevator is now down to o depth of 40ft. Tho usual official tabulated return of minerals other than gold produced in West-

era Australia has been very "white" since July. In August only copper, tin, and coal were included, the total value of these being £3791; in September only copper and coal appear, the total value being £2745; and in October only coal to the value of £3937 appears. The contrast between these three months and the preceding ones of the year is seen in tho fact that the total produce for 10 months was £190,509. January 24. The Rise and Shine, No. 1 dredge worked in deep ground with stiff clay bottom last week, but there was no improvement in the prospects. Tho dredge ia now working towards the western boundary in order to be in readiness to move over to tho -ground recently acquired from the AthenEeum trustees, when tho river is favourable. No. 2 dredge opened out both corners of the cut last week. A soft red-reef bottom was reached at a depth varying from 20ft on the west to 35ft on the other side. The wash was very tight, and at the end of the week gave fair prospects over tho full width of the cut. Tho gold yield of the Bendigo district (Victoria) for 1917 (69,8720 z) was the lowest on record, and the excess of calls over dividends, in round numbers, was £50,000. The outstanding feature of tho year was the formation of the Bendigo Amalgamated Goldfields Co., for the purpose of taking over the mines in that portion of the field known as the "Central Area." Unfortunately, success has not attended the initial operations; not only have no valuable developments taken place, but mines that had been consistently sending in profitable returns have experienced a bad run. Prospecting work on. a comprehensive scale is, however, being carried out, and tho general feeling is one of confidence in the future. No one (says the Australian Min ing Standard) believes that the field is worked out, but that in the past when yields were high the same close watch on costs was not so essential as at present to the welfare, not to say the existence, of the industry. Tho field has never yet failed to respond to consistent prospecting, and with the best advice of its technical and practical staff ; tho Bendigo Amalgamated is being looked to as the source of the revival of Bendigo mining. The gold returns from the Auckland district for 1917 totalled £741,534, compared with a total in 1916 of £714,148, an increase of £27,386. The output in 1915 was £782.032. Last year Ohinemuri contributed £730.899. The total for the last 18 years is £17.717.088, of which Ohinemuri yielded £16,334,075. The vield for the last monthly period was £57,201, compared with £62,157 last year, a decrease of £2955. January 26. Tho Sylvia Reefs (Ltd.) has had treated at Cccklo Creek, New South Wales, 58 tons of concentrates for a,yield of bullion valued at £3203. January 28. The rise in th© Golden Belt mine has been started again on good ore. The crushing is payable. January 29. The returns from tho Rise and Shine dredges last week wore: No. 1 dredge, 18oz 6dwts for 129 hours' work. No. 2 dredge—38oz for 135 hours' work. Tho gold yield of South Australia for 1917 is estimated at 7647 line oz, valued at £32,482. The value of minerals raised in Tasmania during 1917 is estimated at £1,581.053, which is an increase of £60,000 over the valuo of tho output for 1916. Tho quantities and

values of the principal metals and minerals are as follow: —Gold, 14,0280 z fine, value £59,588; silver-lead, 11,216 tons, £174,541; blister copper, 5773 tons, £855,108; tin, 2573 tons, £393,586; coal, 63,856 tons, £38,638; wolfram, 169 tons, £27,593; and echeelite, 59 tons, £10,452. DREDGING RETURNS. Oz. dwt. grs. Rising- Sun, Cromwell 51 -11 0 Olrig, Manuherikia, week ... 12 0 0 DUNEDIN STOCK EXCHANGE. Huddart-Parkers have been the 'principal medium of business on the local share market during 'the week. These shares, which have been slowly firming for some time, experienced a sharp rise in price towards the end of the week, and reached .top price on .Friday, when a parcel changed owners at £l 15s. Closing quotations were £1 14s lid and £1 .15s od, buyer and seller respectively. - Union prefe. have been in firm demand at a guinea, with sellers at £l Is 9d. Insurance .shares also show a firm tone. Buyers are now offering £2 19s 9d for, National Insurance shares, which were on offer on Friday a't £3 Is. An offer of £8 4s for New Zealand Insurances failed to attract a seller. A sale of South British shares was reported on Wednesday at £5 19s, and there was a buyer the next day at £5 18s. Banking shares have not been very freely quoted, but continue firm in price. Westpovt Coals had a buyer on Friday at £1 Us, and a seller at £1 Us 3d, but no business resulted. New Zealand Refrigerating shares were in demand at £2 Is 3d cum div., but the market was bare of sellers. Kaiapoi Woollens were quoted on a few occasions early in the week and two parcels of the new issue were sold on Monday at £7. Oamaru Woollens have been on offer at £1 Us, and Bruce Woollens have been sought at £l Bs. National Mortgages have had steady inquiry at £3 18s 6d, without result. Business in the mining market has been confined to Mount Lyell shares, sales of which were made yesterday at £1 8s Id and £1 8s Jd. Little interest has been shown in Waihi shares, and there has been a fairly wide margin between buving scUiiisr quotes for Waihi Grand Junctions. Talisman Consolidateds have been in demand in the vicinity of 10s, with sellers asking up to Us 6d. The dredging market has shown little activity. National Banks were in demand on Monday at £5 3s 6d, and Bank of New Zealands (old) were on the market at £l2 7s. There was a buyer of the new issue at £l7 3s, but sellers wanted £l7 7s. f National Insurance shares were even with recent prices, and South British were wanted at £5 19s with a seller at £6 2s 6d. A sale of ordinary Huddart-Parker shares was reported at £1 15s Id, and there was a buyer at £1 14s 10d- with a seller at £1 15s 2d. Mosgiel Woollens were sought at £4 15s, and were on offer at • £5. A sale of New Zealand Drugs was made at £2 10s 9d, and there was a further buyer at this price with a seller at £2 Us. The mining market was inactive. The following are Monday's latest quotations, subject to the usual brokerage: Dredging Stocks. Electric —Buyers Is Id. Rise and Shine—Buyers 18s 6d. Rising Sun —Buyers Us 3d, sellers 15s. Mining Stocks. Progress Mines of N.Z. —Sellers 7s 6d. Talisman Consolidated —Buvers 10s. Waihi—Sellers £1 18s.

Waihi Grand Junction—Buyers 15s 9d, sellers 16s 6d. Mount Lyell—Buyers £1 7s 9d, sellers £1 8s 6d. January 24. Huddart-Parker (ord.). £1 14s 9d. Sale Reported.—South British Insurance, £5 19s January 25. Huddart-Parker (ord.). £1 15s; Mount Lyell, £1 8s Id, £1 3s 3d. Sale Reported.—Huddart-Parker (ord.), £1 15s. January 23.—Huddart-Parker (ord.), £1 13s 4d (two parcels). Sale reported: Hud-dart-Parker (ord.), £1 13s; Mount Lyell, £1 Bs. January 28.—New 'Zealand Drug, £2 10s 9d Sale reported: Huddart-Parkcrs (ord.), £1 15s Id.