Mining News.

Star (Christchurch), Issue 4704, 24 July 1893, Page 1

Mining News.

♦ [FBO3I OTJK OWN CORRESPONDENT. I REBFrON, July 22. The following ia the Stock Exchange report :— The battery returns for the past week amount to 11420z of amalgam from rhe United Alpine, Globe, Progress and Royal mines. The Cumberland and Sir Francis Drake batteries are also crushing, but the returns are not yet to hand. The Big River Battery will start on Tuesday, and the cleaning up will take place in a fortnight, when a dividend is expected. The Al tributora intend to have a crushing shortly, but the return is not expected to equal previous results from the came claim. The Globe return is again poor. The mine ie, however, looking well, being carried down on excellent stone, and shareholders may look forward with confidence to an early improvement in the weekly yields. The crushing by the Royal tributors gave 24dwt to the ton, which will pay both the workmen and the Company well. There has not been much business doing in scrip during the week. There was a mild sputt in Lord Edwards, consequent upon a reef having been Btruck, but in the absence of any definite information as to the quality of the stone the enquiry soon died away, and the shares receded to about their former price. Big Rivers have been in demand, but very few are procurable at present quotations, and they are likely to go higher. The Amazon Company has now been registered, and two men are at preaent sinking on a good reef carrying payable gold. The Directors are all men who have had a long experience on the Held, and shareholders may rely upon their interests being well looked after. It is reported that encouraging indications are being met in the Specimen Hill mine, and it ia hoped that the reef is not far off. During the last few monthß several of the smaller Companies have gone into liquidation, and in the majority of cases the loaaes will fall almost entirely upon local speculators, lhia will for some time prevent much local capital being available for prospecting purposes, but it will eventually have the effect of establishing business upon a sound basis, and reduce to a minimum the chance of any claim being floated which has not a reasonable prospect of repaying those who invest in it. The following are the midday quotaions: — Big River, 13s to 143; Cumberland, 9j 6d to 10s ; Exchange, 3d to sd ; Globe, 8s 6d to 9a 6d ; Keep-it-Dark, 6d to Is ; Lyell Creek, 8d to 9d ; Lord Edward, Is 6d to 2s ; No. 2 Keep-it-Dark, Is 3d to Is 6d j Progress, 20s to 21b ; Sir Francis Drake, Is to Is 6d ; Sir Charles Eußsell, Is 3d to Is 6d ; Specimen Hill, 4d to 6d ; Success, 4d to 6d; United Alpine, 22s to 23a ; Wealth of Nations, Is to Is 2d.

{Per Pbsss Asbooiation.] EEEFTON, July 23. The following are the gold returns for the week :— Globe, 109oz from 185 tons j United Alpine, 2890z from 230 tons; Cumberland, 940z from 90 tons ; Progress, 2700z from 210 tons; Eoyal Tiibutors 1650z retorted gold from 140 tons. WESTPORT, July 22. The coal export for the week ended to-day wa3 5197 tona. GREYMOUTH, July 23. The coal export for the week was 2127 tons. DUNEDIN, July 22. The Dunedin Gold Dredging Company obtained 29£oz this week.

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