MINING.

Otago Witness, Issue 3542, 31 January 1922, Page 22

MINING.

WEEK’S MINING NEWS .. January 26. The following report has come to hand: The desirability of winding up and reconstructing the Rising Sun Gold Mining Co. (Ltd ) was agreed upon at a meeting of shareholders held last week in the company’s office. Customs street East. Mr W. Blomfield presided over an attendance of 30 shareholders, 60,000 shares being represented by proxy. Mr J. M’Combie gave a resume of ■ the work done end the work proposed. Tho | meeting appointed Mir J. H. Jackson, the company’s secretary, as liquidator, and authorised the registration of a new company under the old name. These resolutions will be submitted for confirmation as special resolutions to a second extraordinary general meeting, which will be subsequently convened. The Rise and Shine dredge got deeper ground than usual last week, the range being from 38ft to 48ft. There were some large j stones in the wash, which was very tight, j and the gold was rather finer than usual. J anuary 30. | The master of the Rise and Shine dredge 1 reports a return of 220 z for 134 hours’ dredg- | ing j The Rising Sun dredge obtained a return of 270 z 2dwt for 131 hours' work. j The Grey River Argus reports two new : finds of gold-bearing quartz, one at Larry’s Creek, in the Inangahua district, and the . other at Upper Waitohu. The annual statement of affairs of the Rise j and Shine Company, registered on February 24, 1300, states that 12580 z 3dwt of gold were produced during the year, the value ' being £6211 17s Bd. The amount expended on the carrying out of operations since the last statement was issued is set down as £5422 103 lid (including £360 17s 7d liabilities , from the previous year). The total quantity j of gold produced since the registration of the : company has been 52,566 oz 15dwt 7gr, valued at £206,104 4s lid, and the total expenditure 1 during the same period lias been £164,285 11s j Id Dividends amounting to £53,700 have ' been declared and paid. I DUNEDIN STOCK EXCHANGE. I Business was fairly active on ’Change ! through the week, and prices generallv were maintained. This was particularly the case with regard to Government stocks, which opened firm and remained so. Soldiers’ Settlement bonds and Inscribed Stock on Monday had sellers at £93 15s (with buyers close up), and on Friday the Inscribed Stock was wanted at £93 15s (being offered at £94 6s), while the bonds had a buyer at £y4, without a declared seller. A sale of bonds was effected at £93 15s on Monday, and on Thursday inscribed stock was placed at £93 12s 6d. Tlie only sale of mining scrip during the week was effected on Friday, when a parcel of Nokomai Hydraulic was placed at 11s, after which a buyer at 10s 6d went unsupplied. New Zealand Refrigerating (con.) were sold at 13s lid and 13s lOd on Tuesday, but on Friday they were offered at 13s 9d, and the best buying quotation was 13c 6d. Kaiapoi (ord.) sold at 26s on Tuesday, while on Friday there was a transaction at 26s 9d reported, and an offer of 26s 61 for a further supply failed to draw out a 6eller. Westport Coal changed hands on Thursday at 28s to 27s lOd, and on Friday had a buyer at the higher figure, with a seller at 28s 3d. Bank of New Zealand, after a sale at 483 9d on Thursday, were inquired for on Friday at 48s, the seller a-sking 495. South British Insurance had a little attention at 33s 9d, and closed with a buyer at 33s 3d and a seller at 345. Standard Insurance sold on Wednesday at 50s. and there l buyer at that price on Friday, the seller refusing to accept les3 than 51s. There was practically no change in other stock. January 23.—5 J per cent. Soldiers’ Settlement Bonds, £93 15s. January 25. —N.Z. Refrigerating (con.), 13s lid, 13s lOd; Kaiapoi (ord.), 265; Bank of New Zealand, 48s 9cT. January 25. South British Insurance, 33s ©d; Standard Insurance, 50s. January 26.—Soldiers’ Settlement Inscribed, £93 12s Gd; Westport Coal, 28s, 27s lOd. January 27.—Nokomai Hydraulic, 11s. Sale reported: Kaiapoi Woollen (ord.), 26s ®d The following are Saturday’s quotations, subject to the usual brokerage:—DsEDomo Stocks. Rising Sun —Buy. 2s 6d. Rise and Shine—Buy. 2s 6d. Mining Stocks Waihi—Sel. 20s. Mount Lyell—Buy. 13s sd, sel. 14s. EONDON Sh-uiE MARKET. LONDON, January 26. Waihi shares are quoted at 17s 6d (buyers) ind 20s (sellers'.