MINING NEWS.

Thames Advertiser, Volume XXVIII, Issue 8366, 29 February 1896, Page 3

MINING NEWS.

KBWMOANATAIAHI. The Chairman of tho Auckland Brokers Association wired ycsteiday to tho Chairman of tho local exchange that they wero quoting tho above now shares (call paid) sales, 10s 3d, and 103 6d. With reference to the above we may mention that tho original shares hare been reduced 10 par cent, or for instance any porson holding 100 shares in the old company is now entitled to 90 shares. As can be soon the present markot is a decided advanco on previous prices, and in tue event of the presonfc prospeota of the mine continuing, of which there is every indication to believe that they will, tho shares of this company will seo a good sound price. The mino is looking better now than it has done for a considerable period past. VICTORIA. The manager of the above mine reported that the main branch of the Imperial fault was passed through in the western development yesterday, and that its intervention at this point has had the effect of cutting the reef off, He also says that tho class of coutry showing on tho western side of the fault is of a spleudid description. With tho object of picking (up the reof again, tho level is being vigorously pushed ahead, and it is thought that the, lode, if displaced to nuy extent, it will bo found towards the left or footwall. If the lode continues in a good channel of country there is every reason to bcliovo that it will again assume its productiveness as regards tho metal. Mr Dnnlop relinquishes his charge to-day, and Mr J, Coutts assumes his new duties on Monday. IMPERIAL. The annual meeting of shareholders in this company was hold yesterday morning at Auckland, when Mr W. Gorrio

presided, The Annual report gave details |of tho work done during the year. The statement of accounts showed receipts £500|from sale of syndicate shores, £890 0s 5d from calls, £218s8d received from tho United Company, £17 Gs lOd from sundries, and £64 16s 6d from bank overdraft, total £1.500 Is sd. Tho expenditure was as follows;-Wages, £8534s 4d; supplies,£l4B9sod ; K ennral charges, £llis; paid to vendors, £50; brokerage, £25; advonces repaid, £15; report on mine, £'52 10s; survoy, etc, £40165; rent and fees, £37 10s Od; stamp duty, £13 I2s Od; printing advertising and stationery, £34 2s 8d; salaries, directors' fees, travelling and other expenses, £216 12s Od; cash in hand, £11 0s 2d.—ln moving tho adoption of tho report tho Chairman stated with regard to the Homo neßotialhiu, that news had beeu received thot an export had left England to inspect and report upon the property,—Tho reports wero j adopted, and Messrs W, S. Wilson and j W. Gome were re-elected directors, Mr D. B. McUonaJd being again appointed auditor. ORLANDO.

The rise in progress en Oarponlcr'a reef has reached tho Albumin fault, and passed through 14 feet of the olay of which the fault is composed. After passing through fcjis a splendid class of country has been rapt with, and tho lodo is again in hand, Tho manager informs roe that the lodp has changed its underlie from north to east, whioh is considered n favorable position for tho gold producers in this part of the goldfleld, and although no quariz hasaß yet boon brokon the country oucasiug it and tho indications accompanying tho quartz body arc of such a congoiiiul class that tho managor has every reason to surmiso that bettor success will attend his operations ovor tho fault to what was mot undorncnth However, up to tho present all the lodes worked in tho Orlando have been operated upon underneath Iho fault, and as the lichest quality of ore has always hern obtained above it thoro is every reason to supposo that bolter results are to come to hand, and it is to bo hoped that when tho lodo is broken down that Mr Howard and tho directors will have Iho pleasure of meeting with homo re-

ward for porsislcnt energy and efforts to . explore a mine on but a limited supply of capital. WAIHI-SILVERTON' It was reported iu Auckland that a reof had be°n nut in tho Waihi-Silverlon mino in the low levol. This caused tho shares to harden considerably. ALPINE. A cablegram received by Mr V. A. White, of Auckland, states that the Hoi a*ion of tho Alpiuo will bo completed in a fow days. MAORI DREAM. Shares in this Kuaotunn Company have advanced, owing to a cablegram having been received from London ihnti matters in connection with tho side of this mino will shortly be corap'ctod. WOODSTOCK. An important development has token place in tho Woodstock mino at Karaugahakc A terrain was rcco.vod in Auckland on Thursday us ful'owsj— " Cut Maria lode, four feet wide, at No. i level. Avenue assay value iilij per ton.'] This had the immediate cfl'ecb of causing sharos to ndvonco in price. THE MAY QUEKN MINE. NEGOTIATIONS FOR SALE PROCEEDING. [iIY TKLKOHAI'JI.—OW.V COUnESPOXDKNT] Auckland, February 29. About five o'clock this afternoon tho following notice was posted on the Stock Exchango:—"May (Jiiecu: Since the annual meeting held today tho directors have received a cablegram from London statin* that negotiations for the ilotation of tho company > n the original terms are still proceeding. A meeting of shareholders will b) convmed br Monday next at 2.15 oVock.—(Signcdl R. McDonald Scott." Shares to-day sold as low as (is lid and (Is <td, Messrs G, Lowis and Co. received a cablegram to-day that the London agents were making rapid progress towards tho sa'e of tho property.