MINING.

Otago Witness, Issue 3526, 11 October 1921, Page 22

MINING.

WEEK’S MINING NEWS October 6. A private telegram received last evening 6ay3 that the Undaunted Tinkers Gold Mining Company (near Omakau) obtained 50oz of gold from boxes for the month of September. The Rise and Shine dredge worked chiefly on the western side last week because of a necessary change in the position of the head-line; but the full width of the cut is now being worked. There was no appreciable change in the character of the ground. October 7. At the annual meeting of the Rising Sun Gold Dredging Company, Mr A. M. Bro-d----rick, in moving the adoption of the report, said that sir e the report was circulated the legal proceedings had been decided, and the result was in favour of tile company. Tire dredge hod been at work some ID days, but this was chiefly occupied cleaning out the paddock. Improved returns were hoped for as the dredge worked ahead, and the directors hoped to present a more favourable report next annual meeting. Messrs A. Scott and TV. Gair, the retiring directors, weie reappointed, as also was the ax titor at the same remuneration as last year. The directors' fees were fixed at £BO. A hearty vote of thanks was accorded to the management and crew for their efforts dluring the year. On the motion of Mr Fraser, a special vote of thanks was accorded to the secretary, Mr C. Ray, the mover expressing pleasure that Mr Ray had made a splendid recovery from his recent accident. He also complimented Mr Ray on his work on behalf of the company. October 10. The master of the Rise and Shine dredge reports a return of 21oz 2dwt for 113 hours’ work. The Rising Sun dredge obtained a return of 30oz ldwt for 116 hours’ work. DREDGING iIX RIMU FLAT. t HOKITIKA, October 4. The Rimu dredge washed up a return of R- r. from 25,000 yards of opening out ouerat'om, making a return of about 3d per yard. This is considered very satisfactory, and Dears out the result of the prospecting carried out prior to the dredge being built. The dredge is successfully coping with the heavy boulcters and cementy formation, the whole plant having had a most successful try-out under a heavy test. The ground in front of the dredge is not expected to he as heave a: that at present being worked, having a depth of 40ft to 45ft. The management exthat everything will be in full working order by the end of the month, when the output promises to provide interesting figures. DUNEDIN STOCK EXCHANGE. The week lias been a busy one on the Stock Kxenange, and the total turnover has been larger than isuai. Apart from the sales tne feature of the share market these days is the st k:firming of Government debentures. Bonds maturing in 1930 now stand at 15s, and the 1938 and 1939 issues at £Bl 17s 6d. Soldiers’ Settlement loan is quoted about £92. Ihe inscribed scrip was so.d early in the w*.-k a £3l 17s Crl. ‘snipotOck« have been responsible (or a vow .air share of business, Hudd-art, Parkers in particular having been moro active loan usual. There were sales every day at 45s until Thursday, when the price fell to 4!s "'*• afterwards firming !.. | is fid. Further sales were effected on Friday at 41s 6,l and 4H M- p. and (). defem <1 stock h id business at £367 and £20(1. but on Friday a hm-er recured this stock for 1350. The closing Quotations were £3lO and £360. Insurance shares have been quiet and values are unchanged. In banking stocks Nationals * i ers oi two occasions ' £5 11s. Buyers have since finite.:! to £5 12s. lJusinc-n has been done in Bank of Now Zealand shares at 51 91. and two sales were reported ' the 9d and 31s. Union Hanks have figured on the rec rd al £l2 10s, a ml Bank of New South AVale-s B liiire= (reported saie) at £35 10s Westport Coals have had hav.:™ a I 235, but. ' WV-e, portSto< kt< - have ' on inactive. !n industri il Blocks bod issui ■ of New Z< aland Put 11 Mill shares have had transactions, the prices Doing 23 s and Is 6d and Is 19d premium iesiiec* . South Otago Freezing shares have n secured at 12s 6d, but C.M.C. ’ • ind New Zealand Refrigerating shares, though regularly quoted nt firm pr:c hu-'.- n 5 been transferred durNet Zealand Drug at 51s 01 changed hands eri Wednesdav, but they have been dull on most occasions. Rational Mortgages and Lo;>n and Mercantile fl 1 buyers have been scarce. Woollen manufacturing shares continue firm. The mining market has been dull. No further bu-iness was transacted or. 'Change on Saturday. There wen free quotations for bank and insurance stocks, and povoral sound investment lines wore sought at firm prices. National Mortgage and Loan

and Merc..utile stock were again offered oi a bare market. October 3. —15,I 5 , and O. (del.), £367; Hud dart Parker, 45s (four); Soldiers’ Settlement In scribed, £‘Jl 17s 6d. Sales reported:—Bank of New Z..aland 50s 3d, 51s. October 4.—Hudidart, Parker, 455. Sale reported:—National Bank, £5 11s. Oct. s.—Hnddart, Parker, 45s (two); EL anc O. (def.y, £360; New Zealand JL)iug Co., 5-E 6d; 'National Bank. £5 11s. Sales reported;—Bank of New South "Wales £35 10 s; New Zealand Paper Mills (new) Is Gd ; tit ago Daily Times, 45 s. Oct. 6. — Bank of New Zealand, 51s 9d; Union Ba k, II 210 s ; Iluddart. Parker, 4 i 3d, 44s 6d; South Otago Breezing, 92s Gd Westport Coal, 29s (two). Sale reported:—New Zealand Paper Mu(new issue), Is lOd prem. October 8. —Hudd-art, Parker, 44s 6d, 44. 9d; P. and O. (def.), £350; New Zealand Pape Mills, 23s (two). The following are Saturday’s quotations subject to the usual brokerage: Mining Stocks Nokomai Hydraulic—Buy. 12s, eel. 16s. Waihi —Buy. ‘2ls 9d. Mount Lyell—Sel. 13s lid.