MINING.

Otago Witness, Issue 3524, 27 September 1921, Page 22

MINING.

WEEK’S MINING NEWS September 20. Tie liquidation of the Waiota hi mine, Thames, is now completed in so far as the disposal of the assets is concerned. The liquidators, Messrs C. Hudson .and H. Gilfillan, have disposed of the mine itself for d£5C. and, when all accounts have been dealt with, will proceed to distribute the funds in hand among the shareholders (reports the 'Jew Zealand Herald). At the meeting herd July 29, when liquidation was decided upon, the chairman of directors, Mr Hudson, estimated the amount which shareholders would eventually receive at 6d per share, and possibly a shade more. The price at which this famous mine has been sold is an indication that the iate owners consider its value to have practically ■-a.nished. Since the company was formed in .-ill the value of the gold and silver produced by the mine is £G80,190, out of which dividends totalling £400,800 have been paid, or £66 16s per share on the original 6000 shares in the concern. September 21. The Waihi Goldmining Company, during the period ended September 3, crushed and treated 14,197 tens of ore for a return of ,*lßooz of gold and 14,8200 z of silver (reports ine New Zealand Herald). In the corresponding period of last year 13,686 tons yielded 43C90z of gold and 13,0530 z of silver, which realised £21,579. The following information has been cabled to the head) office of the company in London:—No. 12 level: The Empire lode from 105 ft to 127 ft west from the Bath crosscut is about Bft wide, and worth 24s 9d a ton. From 127 ft to 152 ft west the reef, which is mixed with the country, is about sft wide and the value 4s 9cl. This drive is now suspended. On the Martha lode from 48ft to 77ft east from the Bath crosscut the value is 29s 3d. -,o walls have been seen from 50ft to 82£t west from the Bath crosscut. The secretary of the Nokomai Hydraulic Sluicing Company reports that a wash-up was made at No. 2 claim, the result being 790 z lGJwt for the paddock. No. 3 claim did no sluicing this week owing to a break in the race. September 22. Last week the Rise and Shine dredge met with unusually tight ground, carrying numerous large wash stones, and was consequently unable to bottom in some parts of the cut. Prospects were similar to these of the previous week. A soft red clay bottom was got at an average depth of about 40ft. The recent discovery of gold-bearing reefs by Messrs M'Vicar and Hurley at tile Alexander River, Recfton. has led' to an option over the property being acquired by a grown of mining men. The latter propose to form accompany, to lx- called the Recovery Gold Mines (Ltd.), with a capital of £250,000 in £SO,(XX) shares of £1 each. Mr W. Wright, of Auckland, has been appointed secretary’ to the option holders. September 26. The Rise and Sh ine dredge * secured 250 z 2dwt for 135 hours' dredging. DUNEDIN STOCK EXCHANGE Business has been brisk on occasions this week and the to.al turnover is good. In hanking stocks Australasias have had business at £9O, and Bank of New Zealands both reported and effected sales at 49s Gd, with : a firming tendency apparent. Insurance I shares have been quiet, and no business lias ! been passing. An examination shows no i appreciable change in prices. P. and O. stock lias been active and business has been I heavy from £368 to £37:1, tile highest figure i being the latest. Huddurt, Parkers have | also been active at 11s 9d on as many oeca- ! eioiis. Is ; busin<has been done in West- ; port Coals, but Westport-Siocktons sold early ! in the week at 7s. The smaller New Zealand I Refrigerating shares changed hands at 17s :Jd I one day and a! 17s Cd on Friday, the other ! issue being firm. New Zealand 'Paper Mills j have also had business at 23s and 22s 9d ■ and New Zealand Drug scrip has been : I polled sold at 51s 3d i.ox div.). Government : bonds (1938 and 1939) realised £B3 15s. Ini the mining market Mount Lyells show up I with three sales at Its, and Nokomai llydiatt- ; War bonds were freely inquired for on j Saturday. The mining market was dull. ! Investment prices were firm, hut, sellers were I scarce and no business * was added to the record of the week, lies with two at 123. Sept. lit. —Weetport-Stockton, 7s (two). Sept. 20. Bank of New Zealand, 19s Gd ; \ Huddart, Parker, 41s 91 (two.;; Bank of! Australasia, £9O. Sales reported:—New Z inn I Paper Mills, ; 235; Bank of New Zealand, 49s Gil, Huddart. Parker, 41s 9d. September 21. P. and O. alefy, £368, £:>(;;) ; I Huddart-Parker, 11s 9d, 12s N.Z. Kefripernt- . . ; two N.Z. Paper Mills 22s 9d. September 22 I’. and O. (defy, £370 1 (three).

SopL 23.—Mount Lyell, 14s (three) and 14s Id; Nokomai Hydraulic, 12s (two); P. and O. (def.), £372 (two) and £375K i hrcc); Jriuddart, Parker, 41s 2d; New Zealand Itefngerating (IDs paid), 17s Gd; Inscribed Stock (1938), £B3 13s. ’ 1 .Reported. sales:—New Zealand Drug Co. (£2 paid, ex div.), 54s 3d'; P. and O. £372 (two); Inscribed Stock (1939), £B3 13s. The following arc Saturday’s quotations, subject to the usual brokerage : Mining Stop ns. Waihi Grand Junction—Buy. 8s Id. Mount -Lyell—Buy. 13s lOd, sel. lis 3d.