MINING.

Otago Witness, Issue 3764, 4 May 1926, Page 58

MINING.

TIIE WEEK’S NEWS. At the present time six miners are carrying out prospecting operations at Preservation Inlet. They are engaged in sluicing at Te Oneroa, where they expect to locate the old Morning Star reef. KAWARAU COMPANY. Tne ! atest progress report of the Kawarau Gold Mining Company’s operations, dated April 21, is as follows: ‘•The lake has dropped to 4ft 3in on the gauge, and is going down steadily. The Sbotover River is low, and the outflow of the lake greatly increased by the blowing away of tne wing-dam above No 10 pier, thus allowing the water to run through gateways Nos. 8,9, and 10. Since last report the whole of No. 10 pier and sills 9 to 10 and 10 to 11 have been completed. Fourteen feet of the lower portion of pier 10 bus b‘*en stripped, and gates 9 and 10 are b**ng fitted up on platforms cle-" th« sills The wing-dam above the pier site has been blown away successfully, and a full waterway oncned through gateways Nos. 8. 9, and 10. Tho wing-damming of the centre channel is well under way. The heavy booms have been placed across the last narrow deep channel, and the rails to support the gabions are being put in. It is hoped within another week to have tho wing-dam for piers 6 and 7 completed. “We hope to be able to commence diving operations for the two concrete coffer dams (behind the wing-dam as was done at No. 10) for piers 6 and 7 in about 10 days time. Pier 7 falls in shallow water, and it is expected that this pier and sill 7 to 8 can be gone on with Immediately the wingdam is completed, the concrete coffer dams being required for drying the sites of pier 6 and the sill 6 to 7. “Now that pier 10 is completed, the steel girders for bridge spans 9 and 10 are being taken to the site. These have all been bovjd ready in advance. lates 9 and 10 are now ri vetted, and the end girders and roller guide bearings are being fitted. The gate parts for Nos 5, 6, &nd 7 will be punted to their sites during the next fortnight or three weeks, and will be placed ready for immedite erection when piers 6 and 7 are up high enough above the sill. ‘There are now 60 men on the works, and more are available should they be required. The pumping gear is being taken out in XC iiness for work at the site of pier 6.” IBURNIA MINE AT THAMES. AUCKLAND, April 26. discovery of a gold-bearing reef at the Alburnia mine, Thames, has created great interest. Activity in the company’s ahares was particularly marked on the Auckland Stock Exchange. Whereas buying quotations for Alfcurniar were 6d a week ago, sales took -dace to-day at between 3s 9d and ss. The market closed at 4s 6d and 4s 4d. . An ii.dication of the amount involved in the transactions is gained from the fact that at the first call 1500 shares changed hands, at the second call 2100 shares, and at third call 400 shares, making a total of 4000 shares. BLACKS COMPANY. The following report has been received from the Blacks Gold Mining Company's workings:—“Fourth bore sunk to 40ft in clays.” The following report has been received from the Blacks Gold Mining Company’s workings: —“Fourth bore Bunk to 90ft to bed rock. Fifth bore commenced 20ft east.” ELECTROLYTIC ZINC COMPANY. The following is the production statement of the Eloetrolytic Zinc Company of Australasia (Ltd.) for the four weeks ended March 10, 1926:—Zinc: 3600 tons, of which 125 were used at the works. Silver lead production for shipment to Port Pirie for realisation, 620 tons of lead, 99,0000 z of silver. For the four weeks ended April 7, 1926: 3621 tons of zinc, (125 tons used at works), 630 tons of lead, 97,0000 z of silver. THE ALBURNIA PROSPECT. THAMES, April 27. The mining community is intensely excited over the prospect of locating a gold-bearing reef in the Alburnia mine, and is eagerly inquiring for shares. A visit to the mine this morning disclosed a 15in ribbon of good looking free quartz splotched with gold. The quartz is considered to be an offshoot of a rich gold roof, and this is what share buyers are gambling on. It should be made clear that as yet. the results actually in hand are inconsiderable. Gold haß, however, been found in a quarter where none lias been forthcoming for many years, and tho discovery lias been mado in promising cirawmstances. The uncertainties of mining

are proverbial, and whether the gold now touched will prove to be much or little can be determined only by penetrating the ground. WAIHI COMPANY. The following information has been cabled by r he Waihi Gold Mining Company to its head office, London:—For the period ended April 10, comprising 19$ crushing days, 15,735 tons of ore were ciunhed for a result of 5126 fine ounces of gold and 34,216 line ounces of eiiver. BLACKS COMPANY. The following report hai been received from the Blacks Gold Mining Company's workings:—“Fourth bore in pug from 40ft to 60ft. ' Friday Afternoon. The past week on the Dunedin Stock Exchange has been no busier than usual. There has been some activity in Kawaraus which have brought the improved price of 7s 3d. one lot changed hands at 7s 4d. To-day inquiry was made at 7s, sellers asking 7s sd. Not one buyer of St Bathans has been attracted by sellers’ demand of Is premium. Investors apparently are waiting foi some thing to “turn up.’’ Molyneux Electncs are wanted at Is premium, sellers asking Is 6d. There has been little inquiry for Waihis, sellers asking 20s 6d. The results of operations at the Blacks Gold Mining Company s workings apparently have not inspired investors with any confidence. Bank oi New Zealands are in demand at Goe 3d, and the inquiry for Commercials is slightly better. E.S and A. Banka are without sellers, t-hough buyers have increased their offer to £7 16s 6d. New Zealand Bieweries changed hands on Wednesday at 57s 9d, and a sale at 58a was reported to-day. The closing quotations for tho week were 57s 9d (buyer) arid 58s 9d (seller) After a period of inactivity Staples were quoted to-day, buyers offering 37s 6d. Among insuiunco shares Nationals, New Zealands, and Standards have improved. The inquiry for Dalgetya has improved to £l6, but still there are no sellers. Buyers’ quotation tor Dominion Rubbers is unchanged, but sellers have reduced their demand to 53s 6d. Both the ordinary and preference issues of Kaiapoi Woollens have improved, buyers offering 12s 9d for each. They are receiving little encouragement from sellers. Malay Rubber ords. are on offer at 47s without buyers. A 9ale of Paper Mills was effected to-day at 225. No transactions in Government Stock have been recorded. Saturday noon. There was little change in the quotations on the Dunedin Stock Exchange this morning, and no sales were effected. Buyers of Kawaraus offered 7s, sellers asking 7s 4d New Zealand Drugs were again wanted at 68s, but sellers failed to reply. April 27. —Sales reported: Westport Coal, 36s 8d; New Zealand Breweries’ Debentures, : 3d. —pril 27.—Sales: Kawarau G.M. Co., 7s 4d, 7s 3d; New Zealand Refrigerating (cont.), 8s 3d. April 28.—Sales: National Bank of Australasia (cont.), £9; New Zealand Breweries, 57s 9d; Crystal Ice, 21s. Sale reported: National Bank of New Zealand, £6 15s. April 29.—Sales: Kawarau G.M. Co., 7s 3d (two). April 30. —Sales reported: New Zealand Breweries, 58s; New Zealand Paper Mills, 22n. The following are Saturday morning's buying and selling quotations, which are subject to the usual brokerage:— BANKING. Bank of N.S. Wales—Buy £44 15s. Bank of New Zealand—Buy 60s 6d. Commercial Bank—Buy 309 9d National Bank—Buy £6 14s 6d. National Bank of Australasia—Buy £'.B. National Bank of Aust. (cont.) —Buy £3 E.S. and A Bank—Buy £7 16s. Union Bank—Buy £ls. sel £ls 3s. BREWERIES. N.Z. Brnveries (Ltd.)—Buy 57s 9d, sel 595. Breweries (Ltd.)—Debs.—Buy 26s N.Z Breweries (Ltd.), Stock—Buy 25s 9d. Ward and Co —Scl 425. Staples—Sel 40s. INSURANCE. National Insurance Co.—Buy 795, sel 80s. N.Z. Insurance Co.—Buy 39s 3d, sel 40s Standard Insurance Co.—Buy 52s Gd. SHIPPING. Huddart, Parker (ord.) —Buy 44s Sd, sel 453. Huddart, Parker (pref.)— Buy 20s 3d. P. and O. Deferred Stock—Buy £230. U.S.S. Co. (pref.)—Buy 19s 9d. COAL. Westport Coal Co.—Buy 353 9d sel 35s sd. Westport-Stockton (ord.)—Buy 2a Id. sel 2s 9d. LOAN AND AGENCY. Dalgety and Co.—Buy £l6. Goldsbrough, Mort—Buy 48s. National Mortgage—Sel 775. N.Z. Loan and M. (ord.) —Buy £95 10s. N.Z. and River Plate—Buy 21s. Perpetual Trusteea— Buy 50s. .MEAT PRESERVING. N.Z. Refrigerating (pd.)—Buy 17s, sel 17a 9d. N.Z. Refrigerating (cont.)—Buy 8s Id, sel 8s 6d. MISCELLANEOUS. Brown, Ewing (pref.)—Buy 20s. Bruce Woollen Co—Buy 21s. Crystal Ice—Buy 21s. D.I.C. (ord.)—Buy 6s 9d prem. D.I.C. (pref.)—Buy 20a. Dominion Rubber—Buy 50s. Kaiapoi Woollen (ord.) —Buy 12s 9d. Kaiapoi Woollen (pref.)—Buy 13s. Mil burn Lime and Cement—Sel 335. National Electric—Sel 19s 9d. N.Z. Drug Co—Buy 68s. N.Z. Drug Co. (paid)—Buy 595. N.Z. Drug Co. (cont.)—Buy 9s. N.Z. Express (ord.) —Buy 21s 6d. N.Z. Express (pref.)—Buy 179 3d. N.Z. Guarantee Corp.—Buy 9s Cd. N.Z. Hardware (ord.)—Buy 10s 9d. N.Z. Milk Products—Buy 325, sel 32s 6d. N.Z. Paper Mills (ord.)—Buy 21s 9d, sel 22s 6d. Taranaki Oil—Buy 12s. MINING. Kawarau G.M. Co.—Buy 7s Id, sel 7s 4d Nokomai Hydraulic—Buy 5s Gel. Waihi—Buy 19s 6d, sel 20s 6d. Waihi Grand Junction—Buy 9d, sel Is 3d. Electrolytic Zinc (pref.)—Buy 355. Electrolytic Zinc (ord.)—Buy 345. Mount Lyell—Buy 255, sel 265. St. Bathans (A issue)—Sel Is prem. St. Bathans (B issue) —Sel Is prem. Natural Bridge—Sel par. Molyneux Electric—Buy Is prem, sel 2s prem. WAR BONDS. 4$ per cent. Bonds, 1930 —Buy £96 12s 6d. 4$ per cent. Bonds, 1936—8uy £96 3s 6d. 4$ per oent. Bonds, 1939—8uy £O6 3s 6d. 5$ per cent. Soldiers' Bonds, 1933 Buy £99 12s Gd. 4$ per cent. Inscribed, 1938—Buy £96 sb. 4| per cent. Inscribed, 1939—8uy £B6 ss.

5| per cent. Soldiers’ Inscribed, 1938—Buy £99 10s. 5 ner cent. Postal Inscribed, 1929—8uy £97 10s. NORTHERN EXCHA NGES. The following business was done on 'Changes on Tuesday: Auckland.—Sales: Alburnias, 4s 9d, la lOd, 4s 9d, 4s 9d 4s lOd, 4s 9d, 4s 9d, 4s Bd, 4s 9d, 4s LOd, 4s lid; Moanatains, Is 9d, New Waiotahis, Is 6d, Is 4d, Is Gd, la 9d, Is Bd, Is 6d ; Bank of New Zealand, 60s 6d; Union Bank of Australia, £ls 2a; New Zealand Insurance, 395; Leyland. 41s 6d; New Zealand Farmers’ Fertiliser, £5; Union Oil, 41s 6d; Wilsons Cement, 35s 3d. Wellington.—Sales: Union Bank of Australasia, £ls Is; New Zealand Breweries’ Bonds, £1 6s 3d, New Zealand Refrigerating, 8s 3d. Christchurch.—Sales reported: National Insurance, 80s; New Zealand Refrigerating, 8a 2d (three parcels); New Zealand Insurance, 39s (two parcels). Sales: Bank of New Zealand, 60s 6d (four parcels); Union Bank, £ls 0s 6d (two parcels); New Zealand Refrigerating , 8s 2d (four parcels); Goldsbrough, Mort, 48s 7d (two parcels); Howard Smith, 32s 3d; Westport Coal, 36s id (two parcels). The following business was done on ’Changes on Wednesday: Auckland. —Sales: South British Insurance, 55s 6d ; Goldsbrough, Mort. 48s 6d ; British Tobacco, 47s 9d; Taranaki Oil, lls Gd, lls 9d; Wilson’s Cement, 35s 3d; Alburnia Consolidated, 6s, fis Bd, 7s. 6s lOd. 8s 3d, 8s 9d, 9s 6d, 10s, 9s 7d, 12s 6d, 12s lid, lls 6d, lls 9d, 12s; Moana Taieri. 2s sd, 2s 6d : Lucky Shot (contributing), 6d, 9d, lid; New Waiotahi (contributing), Is 4d, Is 7d Is 6d (two sales) ; Waihi, 20s Wellington.—Sale reported : New Zealand Breweries, £2 18s. Christchurch.—Sales reported: Kawarau,. 6s lOd, 7s 3d; Mount Lyell, £1 5s 6d, £1 5s 8d ; Waihi, 19s 9d, £1 Os 6d ; St. Bathans “ B,” Is discount; Commercial Bank of Aust., 31s; New Zealand Guarantee Corporation. 98 9d. Sales: New Zealand Government 4$ per cent. Inscribed (1938), £96 12s 6d ; Goldsbrough, Mort, 48s 7d (two parcels) ; New Zealand Refrigerating (cont.), 83 2d. The following business was done on 'Changes on Thursday: Auckland.—Sales: Bank of New Zealand, 60s 9d; New Zealand Insurance, 39s 3d; Auckland Gas, 23s 9d ; Bartholomew Timber, 23s (two sales) ; New Zealand Breweries, 58s; Taranaki Oil. lls 9d 1-two sales); Wilsons Cement, 35s 3d ; Alburnia Consolidated, lls 3d, lls 6d, 10s, 9s 6d, 9s, 8s 9d, 8s 6d, 8s 3d, Bs. 7s 9d, 7s 6d, 6s 9d, 6s 6d, 6s 3d, Gs, 6s 9d (first call), 6s to 7s, Bs, 7s 7d, 7s 6d, 7s, 6s 9d, Gs 7d, 6s Bd, 6s 9d, Cs lOd (second call), 6s lid, 7s 9d, 8s (third call) ; Moanataiari, 2s Gd (two sales) ; Kawarau, 7s 3d; Lucky Shot (cont.). 9d (two sales), lOd; New Waiotahi (cont.), Is 3d (two sales), Is 4d, Is sd, Is 7d, Is Bd, Is 9d. Wellington.—Bank of New Zealand, £3 Os 6d, £3 Is; Wilsons Cement, £1 12s. Christchurch. —Sales reported: South British Insurance, 55s 6d, New Zealand In surance. 39s 3d; Goldsbrough, Mort, 48s 9d, 48s 6d; New Zealand Breweries, 58s, s<s id, 58s, 57a 9d, 57s 7d; New Waiotahi, Is 4d, Is sid • Burns, Philp, 40s.—Sales. Christchurch Gas, 245; E.S. and A. Bank (cum div.), £7 17s (two parcels); Union Bank, £ls Is (five parcels); Western Australian Bank (cum. div.), 575; South British Insurance, 56s ; Goldsbrough, Mort, 48s 7d; £ew Zealand Refrigerating (cont.), 8s 3d (two parcels); Westport Coal, 36s Id; Perdnau Rubber, lls (five parcels); The following business was done on ’Changes on Friday: Auckland.—Sales: War Loan (1938), £96 l-s Gd; Inscribed Stock (1933), £96 12s 6d , Bank of’Australasia, £l4; National Bank of New Zealand, £6 Us 6d; New Zealand Insurance, 39s 3d; South British Insurance, 55s 6d; New Zealand Guarantee Corporation, 9s lOd. Auckland Gas, 23s 9d; Auckland Gas (cont.), 88 sd, 88 6d ; Colonial Sugar, £54 10a, Grey and Menzies, 13s Gd; New Zealand Farmers Fert iliser, VjOs . Taranaki Oil, 13s, Wilsons Cement, 33s 3d (two sales); Lewis R. Lad'' (B oref.), 20s; Alburnia, 7s 9d, 7s 6d, 7s 3d, 7s, 7s 2d (first call), 7s 2d, 7s 3d, 7s 9d, 7s 8d (secona calL, 8s 7s 4d, 7s 3d, 7s, Gs 80 (third call); Kawarau, 7s 4d ; Lucky Shot (cont.), Is 2d, Is 3d (three sales), Is Id New Waiotahi (cont.), 2s 3d, 2s sd. 2s <d fiv&t call) 2s 3d. 2s 4d, 2s 6d, 2s sd. Ss 3d call)* 2s 3d,- Is lid (third call); Nonpareil, Is id; Waitii Grand Junction, lOd. Wellington.—Sale o . New Zealand Government Loans, 44 per cent. Inscribed Stock (1938), £96 10s; Manning Brewery, £2 Is 3d. The following business was done on •Changes on Saturday;— Auckland.—Sales. —Union Bank of Aus tralia, £ls Is 6d ; New Zealand Insurance, 39s 9d; Goldsbrough, Mort, 48s 9d; Farmers' Fertiliser, 100 s; Alburnia Consolidated, 6s, 5s 9d, 5s 6d, 5s 9d, 6s 2d. 6s 3d, 6s 4d, Gs sd; Lucky Shot (contrib.), Is; New Waiotahi (contrib.), Is lid, 2s; Nonpareil, Is Id.