MINING.

Otago Witness, Issue 3415, 29 August 1919, Page 26

MINING.

WEEK'S MINING NEWS

August 22. A Press Association message from Thames states:—A private claim up the Waiotahi Creek has been worked single-handed for some time. Latterly the man struck an old leader, and recently there has been a steadily improving return. In the last fortnight 60oz of gold were obtained. The next clean-up is expected to be better. So light is the touch of the native barber of India that he can shave a customer while asleep without waiving him. August 23. The secretary of the Nokomai Hydraulio Sluicing Company reports that a wash up ■was, made at No. 2- claim, the result being JdwL A start was made on Friday, 16th inst., to strip off the top of the next paddock., with three shifts. No. 3 claim also had a wash up for a return of 1730 z 18dwt for the paddock. August 25. The Rise and Shine No. 1 dredge obtained 460 z 2dwt for 134 hours' work last week. The master of the Rising Sun dredge reiJorts a return of 16oz 15dwt for 130. hours' work. August 26. A Tress Association message from Auckland states that the Waihi Grand Junction Company crushed 5620 tons of ore in August Cor a return valued at £8154. Writing in the New Zealand Herald, on iho subject of the Thames deep levels and the causes of their failure Mr C. E. Stone pars: "With the closing of the Waiotahi mine the curtain has been ' rung down,' tjnd the closing scenes of a long-drawn jb-ams. have sounded the death-knell of the uope* and aspirations of many who still beU»v* that the upper levels of a celebrated .vxitim in a once" celebrated goldfield would •tiil produce a ' kick ' in the way of gold •yzwhiction that would reflect some of the altvries and experiences of the past. That itu, failure of the Thames deep levels could iwro been avoided is true. ' The main causes an» attributable to persisting in a policy ihm incorrectness of which was capable of proot from well-known, demonstrable, geological, and engineering facts," some of' "•which Mr Storio proceeds to point out. August 27. The following report has been received from tho manager of the Gold ii.nd Silver Mines: —During the week ended Attgust 16 the Consols low level was extended n further 24 ft, and .the total distajKJO driven to date ia 308 ft. Tho Queen's 3»»»£. south block, No. 8 etope, was ext»r.ided Bft. and the total distance broken trC'iw main rise is 17? t. The reef was Bft ■>.v':d*i and tho ore of good genoral grade. Srrfac-o r.v.dlook has be-on »ont down through the .Tain rise, and the Riling in tho south is now ooinpW'*. A start has been

made to extend the north block on the Qutsen's reef. August 28. The labouf supply at the Mount Lyell Company's mines continues to improve, but they sfc ; ll have plenty of room for practical miners, as the labour coming along is mostly of the unskilled class. One furnace is in constant operation at the reduction works, and the second one was to be startedf early this month.

DUNEDIN STOCK EXCHANGE. During the past week a large amount of business has been put through on the local exchange, and prices generally have been improving. Banks, insurance, and snipping shares in particular Have iseen firming. On Thursday Huddart-Parkers, P. and O's., and New Zealand Paper Mills all reached the highest prices they have ever brought here! There has been a steady demand for Bank of Aust- -lasias at £129, without sellers. Nations Banks are wanted at about £6 8s 6d, with 2s in advance. Business was done in Union Banks at £59 on Wednesday, and more are wanted at that figure. They were offered on Friday ax, £59 10s. National Insurances are wanted at £4 0s 6d. There has been a fair amount of business in New Zealand Insurances at £llos 6d. "They were to b e had at thatfiguro on Friday, with buyers offering only 2d less. South British Insurances have advanced 4s or ss, and are~now wanted at £8 Bs. Standard Insurances moved forward in anticipation of the announcement that the directors were writing up the capital 5s a share. They were asked for as £3 on Thursday, but on Friday a sellir.g offer of '£3 2s brought no response. P. and O.'s have been moving up and down in a remarkable manner, and were sold on Thursday at £545. On Friday they were offered at £540, with buyers quoting £520. Huddart-Parkers have been responsible for a large number of transactions, •at fluctuating prices, and they advanced to £2 9s 9d on 'Change on Thursday, with a reported sale at £2 10s. On Friday they were sold at £2 9s. Westport Coals have been maintaining their level ,and were sold on Thursday at £1 8s 9d. Coal and Oils are somewhat stronger, and were sought at 4s 9d, with holders asking 5s od. There is a persistent demand for D.I.C. ordinary and preference shares, but none are offering. Dominion Rubbers have firmed, presumably in anticipation of an advance in rubber prices. Canterbury Meats are also keenly sought for, and up to £l3 has been offered. New „ Zealand Refrigerating shares have stood at about the same level, and have been changing hands at £4 10s 6d. Oamaru Woollens have gone up in view of the favourable offer to purchase that has been received from Messrs Macky, Logan, and Caldwell, a proposition which has yet to be decided upon by shareholders. They were wanted on Friday at £2wßs. Kaiapoi Woollens, now wanted at £8 8s ed, are advancing account of the promixity of the dividend. The directors are proposing to alter the denomination of the share capital from £5 to £1 shares. Mosgiel Woollens were sold on Monday at .£5 ]4s, und they were asked for on Friday at Is less. Sugar of Milks are stronger. Sales of Mouiit Lyells were, effected on Wednesday at £l.ss and £1 _4s 9d. Mining stocks generally show practically no variation, except that Talismans are a trifle weaker. Speculators wore busy again on Wednesday, and a considerable volume of business was transacted. Several stocks showed sharp advances. There was a 3d market in Talismans, which were wanted at 7s. Waihis hardened considerably during the day, and were sold in the afternoon,at £2 8s and £2 8s 3d. The market closed with a further demand' at £2 8s 3d, and sellers at £2 8s 6d. Grand Junctions were wanted at 13s 2d, and Mount Lyells at £1 ss. 7 here was a demand for Bank of N.S.W. shares at £39, and buyers of fully paid Bank of New Zea.lands advanced to £l9 without drawing a response. The newer issue was asked for at £ls, and offered at £ls Bs. A sale. of. Standard Insurances at £3 was reported. Huddart-Parkers were bought at £2 9s in the morning, and at 3d more in the afternoon. The closing quotations for the day were: Buyers, £2 9s 3d; sellers, £2 9s 6d —the same as the previous day's figures. Business was done in Westport Coals at £1 8s 9d. Coal and Oils firmed to 6s, at whi.ih price two lots were disposed of. When the market closed there was a buyer of 500 at 5s lOd, and a seller of 150 at the same price. For Milburn Limes £1 14s was offered, with holders asking £1 15s. There was a difference of 2d in the quotations for Paper Mills, which were offered at £1 8s 6d. The following are Wednesday's quotations: — Mining Stocks. Talisman Consolidated —Buyers 7s, sellers 7s 3d. Waihi—Buyers £2 8s 3d, sellers £2 8s 6d. Waihi Grand Junction—Buyers 13s 2d, sellers 14s. e \ Mount Lyell—Buyers £1 ss, sellers £1 5s 6d. August 20. —New Zealand Refrigerating, £4 10s 6d (two parcels). Salo Reported.—New Zealand Insurance, £1 10s 6d. Auifitat 20.—Mount Lyell, £lss, £1 4s 9d;

Union Bank, £59; Huddart-Parker (ord.), £2 Bs, £2 9s (two parcels). Sale reported: New Zealand Refrigerating Company, £4 10s 6d. August 21.—Huddart, Parker (ord.), £2 9s. 6d (two parcels), £2 9s 9d; Westport Coal. £1 8c 9d; New Zealand Insurance, £1 10s 6d (two parcels;) P. and 0. (deferred), £545; New Zealand Paper Mills, £1 8s 6d (three parcels). Sale Reported.—Huddart, Parker (ord.), £2 10s. August 22—Huddart-Parker (ord.), £2 93; New Zealand Refrigerating Company, £4 Is 6d (three parcels). Sale reported: Oamaru Woollen, £2 10s. August 23.—Mount Lyell, £1 ss; Hud-dart-Parker (ord.), £2 9s. August 25.—Westport Coal, £1 8s 9d (three parcels); Papuan Products, 2s; Mount Lyell, £1 4s lid (two parcels); Huddart, Parker (ord.), £2 9s 6d (two parcels), £2 9s 9d (four parcels), £2 10s (five parcels). August 26. —New Zealand Coal and Oil, 5s 3d (two parcels), 5s 9d (two parcels); New Zealand Insurance. £1 ,10s 6d: Mount Lyell, £1 ss; Huddart-Parker (ord.), £2 9s 3d (two parcels). «, Sales Reported.—Huddart-Parker (ord.), Sales.—Huddart-Parker (ord), £2 9s (two parcels!, £2 9s 3d; Waihi. £2 Bs, £2 8s 3d; Westport Coal, £1 8s 9d; New Zealand Coal and* Oil, 6s (two parcels). Sale Reported.—. Standard Insurance, £3. AUCKLAND STOCK EXCHANGE. AUCKLAND, August 27. The following sales took place on 'Change to-day: Wilson's Cement, 16s 2d; Waihi, £2 Bs. CHRISTCHURCH STOCK EXCHANGE. CHRISTCHURCH, August 27. The following sales took place on 'Change to-day: Huddart-Parker, £2 10s; N.Z. Refrigerating, £4 10s. LONDON SHARE MARKET. LONDON, August 26. Banks—Australasia, £139 15s; New Sputh Wales, £35 (ex dividend); Bank of Victoria, £!BS (ex dividend); Union Bank, £63; National Bank of New Zealand, £6 10s; Bank of New Zealand, £l3 15s; New Zealand .Loan and Mercantile, £ll4 15s.