MINING.

Otago Witness, Issue 3510, 21 June 1921, Page 26

MINING.

WEEK'S MINING NEWS June .14. The repoit of the Blackwater Mines, Ltd., •hows that during May 27,446 tons of ore were treated for a return of ±i4lb. lne •working expenses were £4710, and developmental walk cost £847. J une 1 1 ■ The Rise end Shine dredge worked rrfainly on coal bottom, carrying very little wash, last week. The depth varied from 33ft to 48ft. At the end of the week some large Atones were coming m, indie it.ng ft probable early change in the character of the ground. The return for 132 hours’ work was looz 7-dwt. June 20. The master of the Rise and Shine dredge reports a return of l4oz 19d\vt for 1-7 hours’ work. PRICE OF GOLD. On the occasion of the Prime Minister’s visit to Dunedin in February a deputation, representing the go!d producers of Otago and Southland, waited upon him with the object of securing compensation for gold produced and sold during the period of embargo on expert at a L.wer price than that ruling in outside marl .a. Mr Massey subsequently lamed that the New Zealand Government had no responsibility in the matter, the Imperial Government having made all arrangements for the purchase of gold in the dominion through the Bank of England, and promised during his visit Home to make inquiries in‘o the matter. In order to ensure the question not being overlooked, tlia following cable was a few days ago sent to Mr Massey by Mr A. S. Cook son, secretary of the Otago and Southland Gold Mine Owners’ Association: —“Otago and Westland Mining Association trust ilio measures you are taking to secure for producers true value of geld purchased by Imperial Government during embargo will be successful.” The following reply was received from Mr Massey yesterday:—“Telegram received Taking up matter with Imperial authorities.” DUNEDIN STOCK EXCHANGE. More than the usual amount of business wae transacted or. ’Change during the week, the the market cloaed with a heavy turnover and brisk inquiries at slightly improved rates. Huddart, Parker opened with business on Monday at 41s 3d. after which they changed hands at 4ls (on Tuesday), and 41s 6d and 41s 9d (on Wednesday), tho market closing on Frida:*’ with a buyer at 41s 9d end a seller at 12s 3d. Government stocks were in request as usual, and on Monday two sales in 1933 bonds were reported at .CS3, *nd the same price was realised on T’huu-iay, while on Friday they changed hands at, X? 3 2-? Gd, closing with a buyer at £33 and no declared eel lor. A parcel of Soldi** a* .Settlement Inscribes! Stock was ’doted on F/ku>y at £3i 10s, at which figure there w*aa a re Her at the ckso without a declared buyer. Mount Lvell };;?! very fair Attention during the wesk, opeving at 13s ild, and c}*.a:!c«ng has els afterwards at 14s, IS** 10.1, and 1 Is, there being a buyer at tbo dose at 1-1-y and a seller at 14s 3d. Standard T^snranee were quit ted ct 13s Gd, hut or. Friday, after a 6ale ar 4 Is, thme was a seller t‘ Its 3d, the buyer orTcring I ts. Nov/ Zealand Refrigerating (con.) were quitted on Tuesday at lGs 9d, while yesterday there was ft buyer at 18s, and the lowest celling quotation was 19s fid. Bank of New Zealand had a good turnover on "Wednesday at 4Gs 3d, and on Fiiday at 4Gs 9d and 4ns lOd, closing with a sixpcr.ny market. New Zealand Tnsuranro changed hand- a f ‘27s on Wednesday find Thursday, with a. fair turnover; on Friday a buyer offered 27- id in •* market bare of sellers. Dominion Rubier had exchanges Jit IDs on Wednesday and 12s on Friday, closing with a, buyer at 12s, the lowest selling quotation 1 ho/ 15s. A sale was rcporled on kiy ITi Bank at £T2 3s. and on Friday £l2 t : - seHer u f fid S < ' : ■ O t Were placed on Friday at IT 12s Gd. at v-h.uh price was a biiver at close, iho seller askin ,r It 15r. Bm.ce Wo i’on chanrod V.ands on Friday at tl«. more being wanted fit that fi with seller at F - fi h Two parcels of M‘Lord’s So-ai at. I'll, a•.d this suj• d the d-m. an eff-er to sell at 111 10s meet;:: -■ with no jesponse. There v. u • a v ry <_»>► . d h - liny r> : 'C in ’ige ,en Saturduv, thou'-h only liudG-d business jras Iran ' *wd. A j.iccl of 2d > ;nt Lyell at 13« fid, and t.h n >• finished with a tv.*ou< i.:;y matgin. JTuddavl, Parker \ . ( \ind ch«cd with a buyer • I ‘.lie higher figure, the seller : sk’ng 42s f»d. S/*'oral ntfcor stocks bad cIo«e markets, but without furrover. June 13. Huddart, Parker, 41s .3d Sales re ; < ried: New Zealand Oovcinmont '•War Bonds H ix*r cent.), 1938, £P:‘, (two lots). June 14. Mount Lyell, l-3s lid; Huddart, - 2 Standard Insurance, 43s Gd ; pew X con.), l€fi !;d.

Juno 15. —Mount Lvell, 14s; Bank of Xcw Zealand, 46s 3d (6): Now Zealand Insurance, 27s (3); Standard! Insurance, 43s 6d; Huddart, Parker, 41s 6d (2), 41s 9d (2) : Dominion Rubber, 10s. Sales reported:—New Zealand Insurance, 275; Mount Lyell, 14s. June 16. —Mount Lyell, 13s lOd; New Zealand Insurance, 27s (3). Sales reported:—N.Z. Government Bonds (-1 h per cent.), 1938, £B3; Union Bank, £l2 3s. June 17. —Mount Lyell, Its; Bank of New Zealand. 463 Del; Government 4| per cent. (1938) Bonds, £B3 2s 6d; Standard Insurance, 445; Westport Coal, 275; South Otago Freezing, £1 12s 6d; Bruee Woollen, 41s; M'Leod Bros.’ Soap, £l4; Soldiers’ Settlement Inscribed Stock, £9l 10s. Saks reported:—'Government 4J per cent. (1939), £S3; Dominion Rubber, 12s; Bank of New Zealand, 46s lOd, 46s Sd. June 18. —Mount Lyell, 13s 8d; Huddart, Parker, 42s 3d, 42s 6d. The following arc Saturday’s quotations, subject to the usual brokerage: PRF.narvo Stocks. Rise and Shine—Sel. 7s. Mining Stocks. Talisman Consolidated —Buy. Gs, sel. 6s 3d. Waihi —Buy. 80s 6d. Waihi Grand Junction —Buy. 10s 3d, sel. 12s. Mount Lyell—Buy. 13s 7cl, sel. 13s 9d. WELLINGTON SHARE MARKET. WELLINGTON, June 18. Sale on ’change: Gear Meat, 32s 6d. Reported: N.Z. Inscribed Stock (1038), £B3.