MINING.

Otago Witness, Issue 3756, 9 March 1926, Page 58

MINING.

THE WEEK’S NEWS.

WAIIII GOLD MINING COMPANY. The following information concerning operations at the Waihi mine lias been cabled to London:—For the period ended February 13, 16,827 tons of ore were crushed for a result of 5770 fine ounces of gold and 26.G73 fine ounces of sliver. No. 5 level: Driving east on the north brancli of the Martha lode the next 35ft assays 51s per ton. The reef is about 3Jft wide. No. 6 level: Driving east on No. 2 reef the next 27ft assays 37s 9d. The lode is about 2ft wide. No. 10 level: Driving west on the reef at 219 ft in the London crosscut the next 21ft assays 9s per ton. The reef is about sft wide. No. 13 level, Edward lode: Driving south the next lift assays 5s 6d per ton. No. 14 level, Edward lode: Driving south the next 12ft, assays 25s 3d per ton. A crosscut has been commenced at 163 ft south, and the first 20ft assays 27s per ton. GOLp PROSPECTING. GREYMOUTH, March 4. Speaking at the Kumara jubilee banquet yesterday, the Minister of Mines (the Hon. G. J. Anderson), in referring to gold prospecting, said it was impossible to-day to get prospectors to go out as the pioneers had gone out. He had advised a new system of prospecting portions of the Dominion, and the Government had decided to abolish the present system of subsidising prospecting parties, and to place its efforts on a more scientific footing. A conference of the department's geologists would be held, and it would be then decided what areas should be prospected by special parties, headed by a mining geologist. Cabinet had approved of the proposals, and a sum would be placed on the next Estimates. Local bodies or prospecting associations may make application to participate in such a scheme. MAOIiILAND CONSOLIDATED. The projected company called Maoriland Consolidate! went to allotment last week The authorised capital is £25,000, divided into 100,000 shares of 5s each. The vendors receive 25,000 shares for their interest Of that number 10,000 are creditel as paid to 2s (hi and 15.000 as fully paid. This company’s mining leases comprise rather over 100 acres at Waitekauri, together with a 10-stamper battery run by water power. Dr J. M. Bell and Mr Colin Fraser, in their report of the geology and mines’ of the Waihi district, refer t» this property (then known as the Young New Zealander) in the following terms:—“ln the Jubilee the cnain Waitekauri was prospected in a small way, and short stretches of the.lowest adit have shown sulphide ore wortht, it is stated, from £2 to £3 per to::. Of (he Welcome and other veins little can be said, as the workings are now inaccessible. The Welcome rerf is stated to have average! 9in in width, and shows signs of increasing strength with depth. The vein stone was heavily pyritised, and the ore shoot worked yielded materia! worth from £2 to £3 per ton.” Mr W. H. Christie, late manager of the old Maoriland Company, in a report on the property, states:—“lr. my opinion, the company has a valuable property, having a gold-bearing belt of country from west to oast of over one mile in width, and the reefs traverse the whole length of the holding. The old Waitekauri mine, which joins the mine on the north, produced gold to the value of £40,000 during my management, at a time when it was supposed to be worked out. I consider the property one of the best speculations in the Ohinemuri goldtields.” ELECTROLYTIC ZINC COMPANY. The Electrolytic Zinc Company of Australasia (Ltd ) produced 3658 tons of zinc for the four weeks ended January 13, 1926, compared with 3502 tons for the four weeks ended February 19, 1926. Of the amounts 125 tons and 100 tons wero used at the works for the respective periods. For the four weeks ondod February 10, 1926, 590 tons woro put out as against. 600 tons for the four weeks ended January 13, 1926. For tho same periods 94,0000 z compared with 93,0000 z wore produced respectively. ST. HATHANS GOLD MINING COMPANY. The secretary (4 the St. Bathans Gold Mining Company (Ltd.) reports the Teccipt of the following telegraphed report from the mine :—"Struck water yesterday during night shift. Work temporarily stopped while water drains. Water easing off quickly.”

DUNEDIN STOCK EXCHANGE. Friday afternoon. Kawaraus have been fairly active on the Dunedin Stock Exchange during the past week, and their price has remained fairly steady. Dominion Rubbers firmed towards the end of the week, and changed bauds at prices varying between 51s and 51a Cd, and a buyer was found for one parcel yesterday at 635. ' The inquiry for New Zealand Loan and Mercanlile3 stands at £93 with no offers. New Zealand Refrigerating are offering at 19s 3d—practically the same as Last week, but without any demand above 19s Id on Monday, which has eased off to 18s 9d. D. ordinary have been in demand at 6s 6d (prem.), but none has been offering Crystal Ice have finned somewhat, and are now quoted at 2Gs. Buyers have quoted at 21s lOd. The demand for M’Leod Bros. Soap at £22 10a is consistent, but none is offering. Government Stocks remain practically unchanged. Saturday noon. There were two sales on the Dunedin Stock Exchange this morning—one of Kawaraus at 6s and one of Si. Bathans at 3s premium. No sales were reported. March I.—Sales: Huddart, Parker, 40s; New Zealand Refrigerating (pd.), 19s Id; Dominion Rubber, sls 6d; Kawarau, 6s Id (two sales); Mount Lvell, 25s 6d (two sales) 25s 6d. March 2.—Sales reported: New Zealand Breweries (shares), 57s 3d; New Zealand Express Company (old.), 22s Gd. March 3.—Sales: Dominion Rubber, 51a 9d; Kawarau (three parcels), 6s. Sales Reported.—Kawarau, 6s, 6s Id; Electrolytic Zinc (pref., ex div.), 35s 6d; Mount Lyell, 25s 6d : St. Battans B Issue—--38 6d p. ini. March 4. —Sales: National Bank of New Zealand, £6 14s 9d; St. Bathans (A issue), 5s (prem), two sales; St. Bathans (B issue), 4s Gd (prem.); Dominion Rubber, 535. total entry to 13. Sales reported: Mosgiel Woollen, £6; Union Bank, £l4 l£s. March 5. —Sale: Kawarau, 6s (one sale). Sales reported.—Westport Coal, 34s (on© sale); Dominion Rubber, 53s 9d. March 6. —Kawarau, Gs; St. Batlians, 3s prem. (two parcels). The following are Saturday morning’s buying and selling quotations, which are subject to the usual brokerage:— BANKING. Bank of New Zealand—Buy 595, sel 59s 6d. National Bank —Sel £6 15s 6d. E. and A. Bank —Buy £7 14s. BREWERIES. N.Z. Breweries (Ltd.) —Sel 57s 3d. N.Z. Breweries (Ltd.) Debs.—Buy 25s 6d, sel 265. N.Z. Breweries (Ltd.) Stock —Sel 265. INSURANCE. National Insurance Co. —Buy 78s. N.Z. Insurance Co.—Buy 37s 9d, sel 38s 3d. South British Insurance Co.—Buy 555. Standard Insurance Co.—Buy 495. SHIPPING. Howard Smith—Buy 33s 3d, sel 35s 9d. Huddart, Parker (ord.) —Buy 45s 6d, sel 4Gs 3d. Huddart, Parker (pref.)—Buy 20s 6d. P. and O. Deferred Stock—Buy £230, sel £245. U.S.S. Co. (pref.)—Buy 19s lOd. COAL. Westport Coal Co.—Buy 33s 9d, sel 34s 3d. Westport-Stockton (ord.) —Sel 2s 9d. Westport-Stockton (pref.)—Buy Is Gd, LOAN AND AGENCY. Goldsbrough, Mort —Buy 46s 9d. N.Z. Loan and M. (ord.) —Buy £93. Perpetual Trustees—Buy 50s. Wright, Stephenson (ord.) —Sel 275. MEAT PRESERVING. Gear Meat Co. (ord.) —Sel 41s. N.Z. Refrigerating (paid)—Buy 18s 4d, N Z. Refrig, (cont.) —Buy 8s lOd, sel 9s 3d. ’ MISCELLANEOUS. Brown, Ewing (pref.)—Sel 20s 9d. D.I.C. (ord.) —Buy Cs 6d prem. D.I.C. (pref.)—Buy 20s 3d. Dominion Rubber—Buy 53s 6d, sel 55s 3d. Donaghy’s Rope and Twine—Sel 35s 3d. Crystal Ice Cream—Buy 21s lOd, sel 265. Dunedin-Kaikorai Trams—Buy 29s 6d. Kaiapoi Woollen (ord.) —Buy 10s, sel 10s 6d. Mosgiel Woollen Co.—Sel £6 Is. M/Leod Bros. Soap—Buy £22 10s. National Electric —Buy 18s 6d, sel 19s 6d. N.Z. Drug Co. (paid)—Sel 67s 9d (cum div.). N.Z. Drug Co. (cont.) —Buy 8s 3d (cum div.). N.Z. Drug Co, (new)—Buy 8s (cum div.). N.Z. Express (ord.) —Buy 22s 6d, sel 23s 9d. N.Z. Express (pref.)—Buy 17s 3d. . N.Z. Guarantee Corp.—Buy 9s 6d. N.Z. Hardware (ord.) —Buy 11s, sel 12s. N.Z. Paper Mills (ord.) —Sel 21a 6d. Otago Daily Times—Buy 795. Wilsons (N.Z.) Cement —Sel 38s. MINING. Waihi—Buy 22s 6d. Electrolytic Zinc (pref.)—Sel 35s 6d. Electrolytic Z. (def. ord.) —Sel 35s 6d. Mount Lyell—Buy 25s Id, sel 25s Bd. St. Bathans (A issue) —Buy 3s prem, sel 4s Cd prem. St. Bathans (B Issue) —Buy 3s prem., sel 4s Gd prem. Kawarau Claims—Buy 5s lOd, sel 6s Id. Blacks G.M. Co. —Sel 6d prem. Mount Ida —Buy 21s, sel 22s Cd. WAR BONDS. 4! per cent. Bonds, 1930 —Buy £9O 10s. 4J per cent., 1938—-Sel £9G. 0 j per cent. Soldiers’ Bonds, 1933—8uy £O9 10s. 5 per cent. Postal Bonds, 1927—8uy £9B. NORTHERN EXCHANGES. The following business was done on ’Changes on Friday: Auckland.—Sales: New Zealand Breweries (debentures), 25s Od; Bank of Australasia. £l4 7s Gd; Bank of New Zealand, 595; New Zealand Insurance, 37s lid, 38s; Devonport Ferries, 27s 9d; Northern Steamship, 15s 4d; New Zealand Breweries (shares) 575; Crown Breweries, 20s 6d; Kawaraus Cs, Cs Id (three sales). Christchurch. —Sales reported : Christchurch Drainage 55 per cent. (1938-73), £94 10s; Bank of New Zoalnnd, 59s (two parcels) ; Union Bank, £l4 18s (two parcels) ; Bank of Victoria (ord.), £8 Is Cd; New Zealand Insurance, 37a 10d; Goldsbrough, Mort, 475; Kawarau, Cs, 5b lid. Sales: Bank of Victoria (ord.), £8 Is Gd; New Zealand Insurance, 38s; Goldsbrough, Mort, 47s 3d.

The following business was doue on 'Changes on Saturday:— Christchurch. —Sales reported: Bank of Adelaide, £9; National Insurance, 78s Gd. Sales: New Zealand Refrigerating (contr.), 8s 0d ; Bank of Victoria (prof.), £lO Is Cd (four parcels).