MINING.

Otago Witness, Issue 3522, 13 September 1921, Page 22

MINING.

WEEK’S MINING NEWS September 8. The secretary of the Re-efton Gold Mines, advises the'Christchurch Press that for tho first fortnight’s crushing of the New Battery a return of 1230 z of gold, without cyanide treatment, was recovered from 180 tons of ore crushed. The Rise and Shine dredge covered a fairly large area of ground last week, but owing to Tho necessity for altering the position ot the head-line the greater part of the work was done on the western side, where the wash carried very little gold. A bottom of red clay was got at an average depth ol about BOft. September 12. The Kise and Shine dredge secured 260 z for 135 hours’ dredging. DUNEDIN STOCK EXCHANGE. Business has been quiet this week on the gtock Exchange, although shares have been freely quoted. In the mining market Mount Byells have shown some activity, and several hundred shares have changed hands between 13s Sd and 133 lOd. Waihis have had regular inquiry up to 21s, without attracting a seller, but Grand Junctions have been passed over. In the investment market Westport Coals have provided most cf the business, sales having been transacted at 27s Id and 2is 3ci. This stock was in demand on Friday at 27s Id, with a seller at 27s Dd. Wostporl-Stock-tons have also had business at 7s, and were •ought on Friday at the same price. The Binail issue of New Zealand Refrigerating scrip was secured on Thursday for 17s 2d; the larger issue ha 3 shown a firming tendency, the latest quotations being 31s 7-d and 32s sd. Buyers of New Zealand Drug 3 have also firmed to 535, but sellers have not been keen. New Zealand Paper Mills and New Zealand Express shares have each been daily inquired for at firm prices, but sellers have again been scarce. Sellers of freezing company shares have aiso been wanting, both Southland and South Otago shares having been sought at firm prices without results. Kaiapoi Woollen stock has been in the same position, and in the case of Bruce and Mosgiel shares no result has been rt achccl. Miiburn Lime and Cement shares dropped yesterday to 28s 6d and 3ds 3d, buyer and Eeller respectively. Huddart, Parker and I'. and O. stock have both been quiet and show no change in value. Insurance stocks have been freely quoted, but there has been only one reported sale in these lines of Standard Insurance shares at 535. They have since become easier. There is practically no change in the prices ol the other lines usually quoted. Banking stocks arc firm in tone, end in the case of Nationals a slight advance is shown. Bank of New Zealand shares changed owners early in the week at 40s, but there have been no further sales. The debenture market yielded sales of Soldiers’ Settlement bonds at £Ol 10s, and of 1933 Inscribed stock at £B3 7s 6.1. The week's record of business was added to on Saturday when there were sales of New Zealand Refrigerating (cont.l shares at 17s Gd and of Bruce Woollen stock at 403. Banking stocks had firm inquiry, but the investment market generally was quiet and sellers were scarce. Mining and dredging shares were also in firm demand, but sellers were not operating. September s.—Bank of New Zealand, 495; Westport Coal, 27s Id. Sale reported:—Standard Insurance, 535. September 6. —Westport Coal;. 27s 3d; Westport-Stock*'>i:, 7s (2). September 7. —Mount Lyell, 13s 0d 'three sales). September 8. —Mom Lv 1. 13s Bd, 13s Ud. 13s lOd ; New Zealand Ref ating (con.), 17s 2d; Soldiers’ Se tlement Bonds, £9l 10a; Inscribed Stock, £,83 7s Cd. September 9.—Mosgiel Woollen, £5 12 -. September 10.- New Zealand Refrigerating (cont.), 17s 6d; Bruce Woollen. 40s. The following arc Saturday’s quotations, subject to the usual brokerage: Dredging Stocks. Rising Sun—Buy. 2s. Rise and .Shine—Buy. Is Gd. Mixing Stocks. Waihi—Buy. 225. Wailn Grand Junction Buy. 9s 3d. Mount I ..veil—Buy. Is id.