MINING.

Otago Witness, Issue 3518, 16 August 1921, Page 22

MINING.

WEEK'S MINING NEWS August 11. The Rise and Shine dredge had a steady run last- week, and got over a fair area of ground, which was easier to work tnan usual. Bottom of soft red clay was got at an average dei>th of about 42ft. WAIHI GRAND JUNCTION. The following information has been cabled to the head office in London of the Wai'iii Grand Junction Gold Company:—No. 3 level, Mary louo: Breaking out from 630 ft to 70oft the average width of the reef is 48in and trio value £3 16s lid per ton. Both walls are exposed. No. 6 level, Mary lode: No 7 winze is down to 62ffc. From 50ft to G-it Hi© average width of the lode is GO in and the value 'of £1 3s 4d per ton. No walls are exposed. No. 8 level. Empire footwall lode: The drive west from No. 2 rise has been advanced to 83ft. From 6cft to 73it the average width of the reef is 55in and the value £1 Os 4d per ton. The south wall is exposed. At No. 9 level the south-east crosscut has been advanced to 121 ft. DUNEDIN STOCK EXCHANGE. Interest in the share market during the week has been chiefly shown in dealings in insurance shares, which have been responsible for most of the turnover. New Zealand Insurances had several sales on Monday at 81s, but wc-re easier on Frida}-, being finally quoted about 295. Soutn British snares changed owners at 37s 3d, and were quoted on Friday at 3Gs and 375. National Insurances are steady at GJs. Standard Insurances have firmed, and found a buyer on Friday at E2s, as compared with 51 earlier m the week. In bank stocks the only business passing was in Bank of New Zealand shares, which were secured on Tuesday at 48s 6d. Several of the hanks usually quoted have had regular inquiry throughout the week, but sellers have been off the market. Very little business has been done in general investment line--. Coal shares seem to be attractive to investors in spite of the uncertainty of the labour position in the industry. Westport Coals s Id as high as 27? 3d, and were in demand p-gain at the same price. Westport-3tocktons also how some advance for the week, and New Zealand Con 1 , and Oil Glares at 2s 9c. New Zealand 1 rigerating shares hav- elec sho. r. a firming tendency, the eir.idler issue being quoted ?t 1G? 3d. and the other at .'its. 3d r.nd >'7- Foei.nv company shares have h*d regular it..q% Try e.t firm prices, but fwJiets have not been r.t troy ted. Woollen Fter'? also been steady at firm prices, im'. buyers have not been anxious. New ZeaUnd M;l's changed owners on Friday at 21s, and Movmt Lyisl! ..miny shares a*. 14s C service the mining market list been dull. The Stock Exchange closed quietly on Saturday without any further business being transacted. There was a close mr t m several insurance lines, but sellers were not operating. Investment prices were sound, and buyers offered good values. The following are Saturday’s quotations, subject to the usual brokerage: August B.—New Zealand Insurance, 31s (4). August 9.—South British Insurance, 37 s 3d; Bank of New Zealand, 4?.s Gd (two); Standard Insurance, 51s; P. and O. (def.), £351. Aug. 11.—Mt. Lyell, 14? 6d; Standard Insurance, 525; Westport Coals, 27s 3d; Dominion Rubber, 15s 9d (two); New Zealand Taper Mills, 21s. Mining Stocks. Waihi—Buy. 21s. Mount Lyell- Buy. 11s, sel. 14s 61.