MINING.

Otago Witness, Issue 3619, 24 July 1923, Page 26

MINING.

WEEK’S MINING NEWS. July 18. A promising' strike is reported to have been made in the Four-in-Hand mine in the Coro mandel district, a nice leader showing good gold having been discovered in the Tainiu section of the mine (reports the New Zealand Herald). The leader ranges in wrath from 6in to 15in, and the gold was discovered close to the surface. A small parcel of the stone brought to Auckland shows gold freely, one piece being very rich. The Four-in-Hand Mining Company was recently floated in Auckland and is* Ebrut to go to allotment, the shares being over-subscr bed. The property is situated on the Wa koromiko range, not far from the famous lckatea, and from time to time good patches of Specimen stone have been taken from it. The leaders of the Coromandel district are essentially patchy, the shutes of gold being very rich. There is little or no gold in the general ore, as a rule, but the patches of specimen stone obtained in claims on the Tokatsa, such as the Royal Oak and others, ■were of considerable extent and gave very fine returns. The secretary of the Nokomai Hydraulic Sluicing Company reports that, owing to the severe weather experienced, both No. 2 and 3 claims are idle. The managers state that the frosts are the mo3t severe experienced for 20 years, the ice being 6in thick on the water in the paddocks. a . ... July 20. A nugget weighing over lloz is reported to have been found recently in Mr *F It Dwan’s claim on the Howard Goldfield, Nelson district. This is stated to be the largest nugget ever found on the field, the previous largest having been BJoz in weight, found about six years ago. The Howard is an alluvial field some 70 miles from Nelson, and ?7 er 20 ' s ‘ uic l n £ claims are being worked mere. Operations have been in progress more or less constantly since 1913. The field is divided by a ridge, on one side of which are the New Creek diggings and on the other the Louie Creek diggings. Mr Dwan’s claim is in the latter. Both diggings have been productive of good hauls of gold, particularly m the claims held by Messrs Conlon Bros, and Arnold. The bYaihi Company, for the period ended July 7, crushed 16.159 tons of ore for 55000 z of fine gold and 37,7970 zof silver. For the corresponding period last year 15,156 tons of silver 43280 z of gold and 30,2470 z of DUNEDIN STOCK EXCHANGE. There has been very little alteration in the prices of banking shares during the past week Bank of New Zealands at first eased slightly, and on Wednesday a parcel was released at 62s 6d. They firmed again on .Thursday, and on Friday there was inquiry at 62s 9d, with a seller at 635. National Banks, which had a repoited sale on Tuesday at £6 15s, were available on Friday at £6 163 with no buyer. Other shares have not moved to any noticeable extent. South British Insurances have improved steadily, and were sought at 42s 3d. On zi P re^* ous Friday they were offered at 41s 3d, but the highest buying quotation was then 41s. On Wednesday a parcel changed hands at 41s 6d, and on the following day another parcel was turned over at the°eame price. Ihe prices of other insurance shares have not altered. Nationals have had consistent inquiry at 81s 3d, and on Satuiday last and Monday there were reported sales at that figure. Shipping, coal and loan and agency shares have had a very quiet week. Goldsbrough, a tß vr W , e f e ®° ld at 47a M on Wednesday, f n , Huddart, Parker (ord.) shares changed hands at 44s 3d on Tuesday. Miscellaneous shares have been more active than usual, J. bu , s . 1 "® 83 bas been transacted in several ines Mi .burn Dune and Cement shares were turned over at 35s on Wednesday, and on Frilly a parcel was released at 34s 9d. Ward’s ireweries were turned over at 46s 6d on laturday last, and there was a reported ale of the preferential issue of D.I.C. shares t 21s on Tuesday. New Zealand urugs had U7'isi* >0r “f c * sa ’,° 653 on Saturday, and Whitcombe and Tombs shares «ne at 73s 6d resterday. Mount Lj-ells, which were sold a week ago vt 245, fell on Wednesday to 23s 6d, at which jwo sales took place. There was a strong firming tendency on Friday, when, after a parcel had changed hands at 23s 9d there was inquiry at 23s lOd, with a seller at 248 Iml ' Va! bis have gradually advanced, and Ol ' -Thursday there were two sales in tne morning at 25s 7d and two in the afternoon wf There were previous sales at 25s 3a (two parcels) on Tuesday and at 25s oa (two parcels) on Wednesday. *. War Bonds have continued to receive the inquiry that prevailed during the previous week, and sellers have been few. A parcel of 5j per cent. Soldiers’ Bonds (1933) was turned over at £lO2 011 Tuesday. Business was quiet on the Dunedin Stoca Exchange on Saturday morning. Waihis were sought at 25s 5d with a seller fid higher and 23s lid was offered for a paicel oi Mount Dyells, the market closing with a twopenny margin. Goldsbrough, Mort shares, after having a sale at 47s 3d, were sought at 475, the soiling quotation being 47s 6d. July 16:—National Insurance, 31s 3d. July 17:—Waihi, 25s 3d (two); 5i per cent. Soldiers’ Bonds (1933), £IC2; Huddart-Parker (old.), 41s 3d. Sales reported: D.I.C. (prefj, 21s; National Bank, £6 15s.

July 17.—Bank of New Zealand, 62s 6d; Hilburn Lime and Cement, 355; Mount Dyell, 23s 6d (two); South British Insurance, 41s 6d; Goldsbrough Mort, 47s 6i; Waihi, 25s Gd (two;. July 19. —South British Insurance, 4s Gd; Waihi, 25s 7d (two), 2os 9d (two). July 20.—Milburn Lime and Cement, 34s 9d; Mount Lyeil, 23s 9d. Sales reported: Westport-Stoclcton (ord.), 6s 6d; Whitcombe and Tombs, 73s 6d. July 21. —Goldsbrough, Mort, 47s 3d. The _ following at Saturday morning’s buying and selling quotations, which are subject to the usual brokerage: BANKING. Bank of Australasia—Sel £l3 15s. Bank of N.S. “Wales—Buy £4O 17s 6d. Bank of New Zealand—Buy 62s 6d, sel 635. National Bank—Sel £6 16s. Union Bank —Sel £ls. INSURANCE. National Insurance Co.—Buy 81s 3d. N.Z. Insurance Co.—Buy 31s 4d, sel 31s Bd. South British Insurance Co. —Buy 41s 6d, sel 425. Standard Insurance Co.—Buy 38s 6d. SHIPPING. Huddart, Parker (ord.)—Buy 445, sel 44s 9d Huddart, Parker (pref.)—liuy 2fls. P. and O. Deterred Stock—Scl £340 U.S.S. Co. (pref.)—Buy 20s fid. COAL. Westport Goal Co. —Buy 40s 3d. Westport-Sbockton (ord.) —Sel 7s. Westpcrt-Stockton (pref.)—Sel 9s 3d. LOAN AND AGENCY. Dalgety and Co. —Buy £l2 16s. Goldsbrough, Mort —Buy 475, sel 47s 6d. National Morlgage—Buy Sss. N.Z. and RiveT Plate—Buy 21s 6d. Perpetual Trustees—Buy 3'7s. Trustees, Ex. and Agency—Buy 525. MEAT PRESERVING. N.Z. Refrigerating (pd.)—Sel 265. N.Z. Refrigerating (con.)—Buy lls Ud, eel I2s sd. MISCELLANEOUS. Brown, Ewing (ord.) —Buy 235. Brown, Ewing (pref.)—Buy 20s 9d. Colonial Sugar—Sel £46 ss. D.I.C. (ord.) —Buy Is 9d prem. D.I.C. (pref.)— Buy 20s 9d. Dominion Rubber —Sel 18s Gd. Donaghy's Rope and Twine—Buy 33s 6d Dunedin Stock Exchange Propty.—Buy 455. Ksiapoi Woollen (ord.) —Sel 245. Kaiapoi Woollen (con.) —Sel 12s. M'Leod Bro 3. Soap—Buy £l7. National Electric—Sel 19s 6d. N.Z. Drug Co.—Buy ,64s 6d, sel 65s 6d. N.Z. Hardware (ord.)—Sel 8s 6d. N.Z. Hardware (pref.)—Sel 16s 9d. N.Z. Paper Mills (ord.)—Buy 255. Otago Daily Times—Buy 555. Sharland and Co. —Buy 225, Smith and Smitli (pref.)—Sel 20s. Ward and Co.—Buy 465. Whitcombe and Tombs—Buy \3s Gd, sel 755. Wilson’s (N.Z.), Cement—Buy 27s Pd sei 28s. ’ MINING Waihi—Buy 25s Sd, sel 25s Ud. Waihi Grand Junction—Bu v 6s 3d sel 6s Ud. Electrolytic Zinc—Buy 30s, sel 31s 6d. Mount Lyeil— Buy 23s lid, sel 24s Id. WAR BONDS. 4| per cent. Bonds, 1930—Buy £96 10s. 4i per cent. Bonds, 1933—8uy £96 10s. 4J per cent. Bonds, 1939 —Buy £36 10s. 5J per cent. Soldiers’ Bonds, 1933—8uy £lOl 17s 6d. 4j per cent. 193 S— Buy £96 ss. 4J per cent. Inscribed, 1939—8uy £96 ss. 5J per cent. Soldiers' Inscribed, 1933—8uy £lOl 17s 6d 5 per cent. Postal Bonds, 1927—8uy £9B 76 6d.