MINING.

Otago Witness, Issue 3338, 6 March 1918, Page 22

MINING.

WEEK'S MINING NEWS

February 27. The annual statement of affairs of the Sailors' Gully Goldmining Company, registered in June, 1896, shows that the -present number of shareholders, is 24, as against seven at the time of the formation of the company. There are seven men employed by the company. The quantity of gold or silver produced since last statement has been 3850 z 14dwt -lOgr, valued at £1494 6s 3d, making the total production of the company 61740 z 16dwt llgr, valued at £23,583 8s 7d. During last y-ear the working expenses amounted to £1448 12s Bd, and the total expenditure since registration has been £19,927 12s sd. Dividends amounting to £SOOQ have been paid. There are debts owing by the company amounting to £829 lis 2d, ' The Golden Crescent Sluicing Company, formed in September, 1898, has a paid-up capital of £3500, divided amongst 22 shareholders. The company was in active operation last year, and employed seven men. The quantity of gold produced since registration has been 95760 z 14dwt 7gr, valued at £37,319 18s 4d, of which 4040 z 13dwt, valued at £1584 17s Id, was produced last year. The amount expended in connection with carrying on operations last year was £1354 3s 4d, bringing the total expenditure since registration up .to £28,300 16s. The company has paid dividends totalling £11,725. It has debts amounting to £25 directly due to it, and the amount of debts owing by the company is £215 18s 3d. February 28. The Rise and Shine No. i dredge is still unable to bottom on the west "side. The eastern part is about 48ft deep, with a clay bottom, carrying no wash. The No. 2 dredge worked a cut 210 ft last week, making 16ft ahead. The bottom was chiefly coal, and very uneven, with a tight wash, but the prospects were not so good as they had been. The secretary of the Nokomai Hydraulic Sluicing Company reports that No. 2 started to strip the top material off the next paddock on Thursday. No. 3 had a full week's sluicing, and good progress was made. It is stated by the Cromwell Argus that the Rising Sun dredge has struck a deep gutter, and that this brought about a falling off in thtf return last week. The Cromwell Argus states that the Come-in-Time mine at Bendigo is to be given another trial. Mr R. B. Edwards and E. Evans, two miners, went to the claim last week, and will spend some time extending the present workings. March 1. The manager of the Whangarei Cinnabar Company reports for the week ended February 18, that the plant was running well during the week, but the' weather has been very bad 1 , and in consequence the ore was yery wet, and, the furnace, could not get

a quantity through. He proposed to , till Saturday last, and then clean up. So far, he has bottled about 10001 b of mercury. Heavy rains have been constant daily during the past three weeks, and have hampered work. March 2. For the period ended February 23, the Waihi-Pacroa Gold 1 Extraction. Company treated 15,700 tons of tailings for a return of £4250, a decrease of £I9OO on last year's returns. A total of £258,261 has now boon won. March 4. The directors' half-yearly report of the Mount Morgan Gold "Mining Co. (Q.) for the term ended November 25, shows a revenue of £525,161, from which £500,317 has been charged to profit and loss account, for development, depreciation, etc., leaving a surplus of £128,844. Out of this, two dividends, amounting to £IOO,OOO, were paid in August and October, and the balance, £28,844, plus £95,986 brought forward from the previous half-year, making £120,830, js carried forward. A further dividend of Is per share (£50,000) was made at the end of the year. The company's reserves, insurance, and contingent funds, and undivided profits amount to £513,587 and liquid assets £491,663. These last include: Cash and bank balance, £76,232; commonwealth war loan (at cost), £36,000; bank deposits. £50,000; debentures of various bodies, £77,053; sundry debtors, £33,174; blister copper in transit, £114,953; stores, fuel, and ore, £147,600; less sundry creditors, £93.390. March 5. The value of Western Australia's output of minerals other than gold for last year was as follows, the figures, for 1916 being added in parentheses:—Copper, £81,857 (£64.833); tin, £41,428 (£49,101); silver), £14,266 (£380,106); silver-lead ore, £427 (£12,033); pig lead; £52.618 (£74,930); bunker coal, £29,359 (£30,244); other minerals, £3407 (£ll,644);—totals, £223,372 (£265,043). ' Queensland's gold yield for January amounted to 11,233 fine oz, valued at £47,715, as comnarcd with 11,774 .fine oz, valued at £50,013, for January, 1917, the decrease being 5410 z fine, and £2298 in value. The chief contributors were: Charters Towers, 537 fine oz, compared with 1337 for tho same month ' last year; Etheridge, 235 (1053); Gvmpie. 1758 (2*619); and Mount Morgan, 8129 (6378). No dividends were paid, as against £1396 in January, 1917. - A DECAYING; INDUSTRY. At Thursday's meeting of the Vincent County Council, Mr J. S. Dickie (valuer) submitted the following return of mining property valuations, which shows -that the mining industry is steadily decreasing: —

DUNEDIN STOCK EXCHANGE. Business has kept up well on the Dunedin Stock Exchange during the past week, the market again, showing a considerable degree of animation, particularly in the investment stock section. HuddartParker shares have again been the centre of a great deal of attention, and prices have shown some tendency to fluctuate, but for all that a large amount of business has been transacted in this scrip. On Tuesday values reached the highest level they have touched up to the present time, sales being made on that day at £2 ; then the market has steadied to some extent, and the latest prices at "which business is being done may be set down as between £1 19s 2d and £1 19s 6d. The final quotations on Friday revealed a close market, buyers offering £1 19s 3d, with sellers asking £1 19s 3d. Union Steam (pref.) also seem to have firmed slightly, and there have been sellers on several occasions at about £1 Is sd, without a buyer. Westport Coals have come in for a good deal of quotation during the week at fairly firm rates, buyers offering about £1 10s, with sellers askiiig £1 10s 3d. Dominion Rubbers have been on offer on a number of occasions at about £1 17s, but there have been few buyers on the market. Prices for woollen company shares continue to be well maintained, and there has been a good deal of inquiry for them, with apparently a small volume of business passing. New Zealand Drugs have been quoted throughout the week at even rates, buyers offering £2 10s 9d, and seller.? asking £2 lis 3d, while Perpetual Trustees have had some inquiry at £1 5s 6d f with few sellers. A small amount of business has been done in New Zealand Paper Mills on one or two days at about 19s bd, and on Friday afternoon there was a further seller at 19s 9d, but no buyer. Early in the week a parcel of Papuan Products changed hands at 3s, and there have since been sellers of this line at the same figure, with buyers offering about 2s lOd. Banking and investment shares have also shown a good deal of firmness, and have been freely quoted. Doubtless, several of these lines have been the medium of gome business, but the only sale recorded in public has been one in New Zealand Insurances at £8 Bs. In the mining stock market there has also been some movement in several lines, and a fair amount of business has been recorded. Waihis wore distinctly firm during the early part of the week, and on Friday they were quoted ex. div. with a buyer at £1 17s 6d and a seller at £l 18s 6d. Waihi Grand Junctions have also shown a hardening tendency, and several sales have taken place in this stock during the week in the vicinity of 14a sd, while the market closed on Friday with a further seller at this figure and a buyer at 14s 2d. Mount Lyells. have also attracted a good deal of attention, and a fair amount of business has been done in this line at £1 10s and £1 10s Id, prices which just about represent the cm-rent lever of values. Dredging stocks have been quite inactive, and no business has been recorded in this department of the market. Two parcels of old Bank of New Zealand shares changed owners at the first call on IViondav at the Exchange. There was a buyer in the afternoon at £l2 7s 6d, with a

seller at £l2 Bs. 6d. Ord. Huddart-Parker shares were in demand at £1 18s 7d, but sellers wanted £ll9s 4d. There was a wide market in Westport-Stpektons, which were wanted (ox div.) at 7s 6d, and on offer at 8s 74 There was a buyer of war loan 4& per cent, at £99, but no seller was quoted. A sale of Waihi Grand Junctions was transacted in the forenoon at 14s 4d, and these shares were in demand in tho afternoon at 14s 4d, and on offer at 14s 6d, but no business resulted, March 4.—Waihi Grand Junction, 14s 4d; Bank of New Zealand (old), £l2 8s (two parcels). The following are Monday's latest quotations, subject to tho usual brokerage: Dredging Stookb. Electric —Buyers 13, sellers Is 6d. Eise and Shine—Sellers £1 Os 6d. Rising Sun —Sellers 13s. MiNiKU Stocks. Nokomai Hydraulic—Buyers 14s. Talisman Consolidated—Buyers Bs, sellers 9s 64 Waihi—Buyers £1 17s, sellers £1 18s 6d. Waihi Grand Junction—Buyers 14a 4d, SGllcrs 14jJ ocl - Mount Lyell—Buyers £1 9s 44, sellers £1 9s lOd. Feb. 26.—Mount Lyell, £1 10s (two sales); Huddart-Parker (ord.), £2 (two sales). Feb. 27.—Waihi Grand Junction', J4s 5d (two sales); Mount Lyell, £1 10s Id (four sales); Huddart-Parker (ord.), £1 19s 3d (four sales), £1 19s 6d, £1 19s 2d. February 23.—Mount Lyell, £1 10s Id (two parcels); Huddart-Parker (ord.), £1 18s 9d (two sales), £1 18s lid; New Zealand Paper Mills, 19s 6d. March I.—Huddart-Parker (ord.). £1 ISs 6d (two sales), £1 19s sd, £1 19s 4d, £1 19» 3d (three sales). Sale reported:—Huddart-Parker (ord.), £1 19s 54 March 2.—Mount Lyells (two parcels), £1 9s 9d; New K*ep-it-Darks (ono parcel), 12s 6d. Sales reported: Huddart-Parkers (ord.), £1 9s 3d (two parcels). WELLINGTON STOCK EXCHANGE. {Per United Press Association.) WELLINGTON, March 4. Huddart-Parker shares were sold to-day at £1 19s 9d. CHRISTCHUROH STOCK: EXCHANGE. OHRISTOHUROH, March 4. The following business, was recorded on 'Chango to-day : —Sale reported : National Bank, £5 9s 6d. LONDON SHARE MARKET. LONDON, February -27. Bank of Australasia, £l2O 10s; Bank of New South Wales, £3O 2s 6d (ex div.); National Bank of Now Zealand, £3 19s: Bank of New Zealandl, £ll 17s 6d; New Zealand Loan and Mercantile Agency, pref. £69, ord. £9B. ss.

Riding. 1918. 1917. i Clutha ... ... £15,750 £16,250 Lindis ... 2,350 2.450 Car rick ... 8,450 8,850 Dunstan ... ... 3,300 4,500 Manuherikia 600 850 Matakanui ... 11,960 17.460 Earnscleugh ... 7,435 7.635 £50~345 £57,545 DREDGING RETURNS. Oz. dwt. gr. Rise and Shine, No. 2, 135hrs 26 11 0 Olrig, week „-.. . 18 0 0 Rising Sun, 129hrs 17 1 0 Rise and Shine, No. 1,. 135hrs 11 6 0 72 18 0