MINING.

Otago Witness, Issue 3382, 8 January 1919, Page 22

MINING.

WEEK'S MINING NEWS January 3. While the gold yield of the commonwealth continues to shrink month after month-with an alarming steadiness, no concentrated effort is being made throughout the States to check the_ decline. Those interested in the gold mining industry naturally thought that with the termination of hostilities harassing restrictions under the War Precautions Act dealing with the flotation of companies would have been removed or at least relaxed, but there is as yet no sign of the restoration of pre-war conditions. For -nearly four years now prospecting for gold has almost ceased, mainly owing to the poor return permitted vendors of properties under the Act. The industry has borne many heavy burdens dur ing the war with praiseworthy patience, and now that peace is in sight it is entitled to relief from restrictions which are retarding its progress at a time when it is in need of every encouragement. January 4. During November the Tongkah Harbour Co.'s dredgers worked 24-89 hours and treated 241,000 eubio yards for 88 tons of tin. The latest weekly return amounted to 14 tons. January 7. The manager advises that the Rise and Shine No. 1 dredge obtained 18oz 16dwt for 94 hours' dredging. The gold returns from the Auckland district mines for December totalled £39,565 8s Bd, the whole of which was contributed by the Ohinemuri field. Compared with the yield for December, 1917, namely, £31,832 13s 9d, this shows an increase of £7732 14s lid. Details are : Waihi Company, 12,240 tons £25,392 0 0 Talisman Company,-850 tons ... 8,889 1 9 Waihi Grand Junction Company, 3500 tons 6.284 6 11 .Total £39,565 8 8 DUNEDIN STOCK EXCHANGE. The Dunedin Stock Exchange reopened for business on Monday after the holidays, and there was a healthy tone about the market. Bank of New Zealands were In demand at £l7 17s without sellers, and National Banks at £6 with a seller at £6 6s. P. and O. deferred stock was firm at £4OO and £4lO, buyers and sellers respectively. For Westport-Stockton shares a buyer offered 8s 7d, but sellers wanted 9s. A buyer of Westport Coals offered £1 lis, without getting a seller's quote. In the mining market several stocks received quotation at fairly good prices, but no business was achieved. The following are Monday's latest quotations, subject to the usual brokerage:— Drkdging Stocks. ElectricI—Buyers 1 —Buyers Is 3d. Mining Stocks. Talisman Consolidated—Buyers 9s 6d, sellers 10s 6d. Waihi Grand Junction —Buyers 13s 3d, sellers 13s 9d. Waiotahi —Buyers Is. Mount Lyell—Buyers £1 5s 9d, sellers £1 7s. LONDON STOCK EXCHANGE. LONDON, December 31. P and 0. Company's shares, £423 LONDON, December 31. Bank of Australasia, £136 15s; Union Bank, £67 10s; National Bank of New Zealand, £6 10s. ex div. ; Bank of New Zealand, £125 8s; New Zealand Loan, £7l 5s and £lO3 10s, ex di\". January 2. P. and 0. shares, £425: Waihi —buyers £2, sellers £2 2s 6d; Waihi Junctionbuyers 14s od, sellers 15s 6d; Talismanbuyers 12s 6d, sellers ISs. January 3. (Received Jan. 6, at 9.30 a.m.) P. and 0. shares, £427—A. and N.Z. Cable.