MINING.

Otago Witness, Issue 3555, 2 May 1922, Page 22

MINING.

WEEK’S MIMING NEWS

April 24. The Rising Sun dredge shows a return of JiQoz lOdwt for 130 hours’ digging. April 26. The gold return from the Rimu Flat dredge for the fortnight ended April 15 (}1 working days) was 600 oz. The manager of the Rise and Shine Dredging Company reports that the dredge has reached the lower end of the claim, and will commence to open out a new cut today. April 29. The following information has been cabled to the head office in London of the Waihi Grand Junction Gold Company“ No. 9 level: The main south-east crosscut lias been extended 372 ft. On the Empire lode the east drive has been extended to 241 ft. From 205 ft to 228 ft the average width is 4*it, and the value £2 17s 6d per ton. The south wall is seen. In the crosscut at 200 ft, for the remaining 15ft, the assay is 6s 2d per ton. On the Empire lode the west drive has been extended to 257 ft. From 23911 to 252 ft the average width is sJft, and the value £1 53 6d per ton. No walls are seen.' May 1. The Rising Sun dredge shows a return of 20oz for 120 hours’ dredging. DUNEDIN STOCK EXCHANGE. The market opened after the Easter holidays with on evident desire to do business, and though Anzac Day (observed as a holiday) intervened, the turnover was more extensive than has been the case in any week for many months past. Prices olso opened slightly in advance of rates ruling before the holidays for the most favoured lines, and a hardening tendency was apparent m many cases through the week. Hanking and insurance stocks, in particular, improved in price, os did Government stocks, though in the latter instance there was no turnover. P. and O. (deferred), which had improved before the holidays, opened with a sale at £328. and subsequent exchanges were effected at £332. £333, end £335, but oil Friday they cam© back again to £330, closing with a wide market. Bank of New Zealand had attention at 50s on Monday, and were subsequently sold at 51s, sis 9cL and 51s 6d, closing with a buyer at 51s 6d and no declared seller. D.I.C. (pref.) changed hands at 18s 2d, and at the close had a buyer at 18s and no declared seller. New Zealand Express (ord.) were placed at 15s 6d, and there was inquiry tor them at that rate on Thursday, but they were not mentioned on Friday. New ' Zealand Drugs (pd.) sold at 52s on Monday, hut on Thursday 51s 6d was accepted and on Friday there was no in quiry for them. New Zealand Insurance changed hands at 28s 3d, and on Friday were wanted at 28s 6d, the seller asking 293. A parcel of Mosgiel Woollen Company was placed at £6 4s. after which they dropped out of nofioe. Sales in Otago Daily Times at 45s 6d apparently denuded the market of shares. Htiddart, Parker, which advanced in price in common with other stocks, had turnover on Friday at 46s 9d. and at the close there was a buyer at 46s 6d, the seller quoting wide. Westport Coal, another stock that Improved, sold at 29s 3d, and a buyer wished to continue operations tit that figure, but the seller asked 29s 6d. Two parcels of National Electric, which were placed at 225, appeared to satisfy the demand. A sa’e of National Insurance was reported on Friday at 60s 6d. and the market closed with a shilling margin. Mount Lyell, after a sale at 15s on Monday, were wanted at Iss 8d on Friday in a market bare of sellers. Waihi sold at 20s 6d. and the buyer was prepared to go on at that rate, but tlie seller asked 20s 9d. Prices were maintained on ’Change on Saturday morning, though the turnover was limited. A parcel of Mosgiel Woollen was placed at £6 4s, and onlv 2s separated buyer and seller at the close. P. and O. (deferred), which on Friday showed a slightly downward tendency, were offered at £331. but the best buying declaration was £321. Other than in Mosgiel Woollens no business was done. April 26 —P. and O. (deferred), £333, £335 ; New Zealand Insurance, 28s 3d. Sale reported: P. and O. (deferred), £332. April 27.—Bank of New Zealand, 51s; Mosgiel Woollen, £6 4s; New' Zealand Drugs, 61s 6d; Qtago Daily Times, 45s 6d (two). Sales reported: New Zealand Insurance, 28s 3d; Otago Daily Times, 45s 6d. April 28.—Bank of New Zealand, 51s 9d, 51s 6d; P. and 0. (deferred), £330; Waihi, 20s 6d ; Huddart, Parker, 46s 9d; Westport Coal. 29s 3d; National Electric. 225. Sales reported: National Insurance, 60s 6d. April 30.—Mosgiel Woollen, £6 4s. The following are Saturday’s latest quotations, subject to the usual brokerage; Dredging Stocks. Rising Sun : —Buy. 2s 6d. Rise and Shine—Buy. 2s 6d. Mining Stocks Waihi—Buy. 20s. Waihi'Grand Junction—Sel. 7s Gd. Mount Lyell—Buy. 156 4d, sel. 16s. Nokomai Hydraulic—Buy. 10s 6d.