MINING.

Star (Christchurch), Volume LXVI, Issue 20424, 1 October 1934, Page 9

MINING.

Reports and Returns on Operations. GOLDEN’ DAWN. The Golden Dawn" report states that for the twelve working day? ended September 17. 258 tons of ore were treated for a. return of CJ 334. In addition. f 216 wus recovered from a partial elenn-up of the mill (realisation estiThe Golden Dawn mine manager’s report for the fortnight ending September 22. is:— Development—No. 3 Level: The dri\e north from winze on No. 3 reef has been extended 2311. The reef, up to 246 ft in, averages 2ft wide, and improved in value up to £4 9s 3d per ton from 246 ft in to 258 ft. then pinched in to 12in wide again and assay value was" £1 4s 3d per ton. Tiie reef in the face is opening up again and at present is ISin wide. The drive north from winze on No. 1 reef extended 12ft. average KMn wide, assay £8 2s 2d per ton. The drive south from winze on No. 1 reef extended 25ft. average 16in wide, assay £1 12s 5d per ton. The drive south on east wall branch reef from crosscut w-st driven Bft, average 9in wide, assay £ll 14s Id per ton. Bottom Intermediate Level: Drive north on west wall branch reef from drive north on No. 1 reef extended 4ft. average 9ln wide, assay £3 9s 4d per ton. Farmer's Level: Work is still proceeding cleaning out the old levels. Stoping—No. 3 Level: On No. 3 reef north of winze. 15in wide, assay £3 0» 8«1 per ton: leading stope on No. I reef north. 10In wide, assay £7 13s 9d per ton: underhand stope on No. 5 reef north, 2ft wide, assay £3 Sd per ton; on east wall branch reef north of winze. 12in wide, assay £l2 11s per ton: mi ops t. vail branch reef, north and south of erorsent west. 15:n wide, assay *7 13a 7d per ton. Top Intermediate Level: On east wall branch re*>f. north and south of crosscut cast. 12in wide, assay £1 2a 5d per ton: underhand srope on No. 2 reef, 20in wide, assay £1 12s 10d Brian Born. Per Press Association. GPLYMOUTH, September 30. The Brian Roru dredge return last week was 19oz 10dwt for 121 hours, from 14.000 yards of material. Ball Hooper Cromwell Qold. X.td. The return for the week ended September 28 was 30oz 6dwt lSgr. Ball Xilgour. Per Press Association. DUNEDIN, September 30 The manager of the Bell Kilgour Mining Co. advises that some rich wash was struck on Friday and the wash-up on Saturday returned 220 s Iddwt I2gr. Vaimunn Sluicing. CORK, September 29. The Wainuimu Sluicing Co.’s wash-up was 15oz 14dwt for ten days. Mahaklpawa. The weekly wash-up at Mahaklpawa yielded Muz. Worksop Xxtandad, The Worksop Extended Cold Dredging return for the week is 520* lldwt for 136 hours’ dredging and a yardage of 9600 yards. Ban X>edi Baport. The secretary of the Ben Led I Sluicing Company reports that soma concern had been felt by the director* that the torrential rain of last week in the back-country of Novth Otago, which caused «. considerable amount ©f flooding, would damage the new race, which had just been completed prior to the commencement of sluicing. Advice from the manager, however, and’ reports from two former owners of the claim (Messrs J. M’Quade and C. M. Murray), who made an inspection on Thursday, state that the damage was very small. The race ' resisted the unusual pressure of water remarkably well. The damage consisted of the slipping of surface material Into the race and several minor breaks, the repair of which will not delay the original programme by more than ten days. Had it not been for the flood tha pipeline to the claim would have been finished, but provided there Is no further weather break sluicing should be commeneecd by the end of next week. Th» fluining withstood the heavy weight of water, sixteen heads passing through the prinelp-vl one. The stream which makes contact with the head of the race (immediately below the intake fronv the Maerewhenu.-t River) was estimated during the downpour to be carrying 150 heads. The rain, which was the heaviest In the district for years, provided one satisfactory result. It exposed <i face adjacent to the pipe line carrying excellent prospects. Nevis Sluicing. The manager of Nevis Sluicing Claims. Ltd . reports that work was commenced for the season on September 20. Despite the severe winter, the completed portion of the race is in good order, and the work of cleaning out the race and completing the unfinished part should be finished in about six weeks’ time. The pipes have been despatched to Cromwell, and the rest of the plant, will be ready shortly. The work of assembling these will be commenced immediately the race is finished. Moonlight Nelson Creek. In reply to an inquiry by the Dunedin Stock Exchange for information concerning the operations of the Moonlight Nelson Creek Sluicing Company. Ltd., the secretary of the company forwards a letter containing extracts taken from reports received from the claim manager from July 2S to September’ 15. No mention is made of any gold laving been wop. It was also stated that Captain Kerr, of Geraldine, a director of the company, was at present on a tour of inspection to tha claim. t.n<l on liis return an independent, report would be furnished to the exchange. COMPANY AFFAIRS. North Island Motor Union. “The year under review has prove»f to be the most satisfactory since the inception of the company in 1928. said Mr B. L. Donne at the meeting in Wellington of the North Island Motor l nion. The report to June 30 last showed net income £74.944 19* sd. an increase of £9777 0s 4d for the year. Income from investments was £2751 11* 2d. an increase of £52 163 7d. A further sum of £3461 14s 3d was placed to reserve. The surplus for the year was £19,888 3s Id, allotted as follows: Profits for distribution reserve. £15.000; fidelity guarantee reserve, £130; Accumulated funds, £4 73 8 3s id, these funds now amounting to £26.308 3a 2d ant? reserve for uuexpired risks to £37.472 9s Sd, a. total of £G3,760 1 2s lOd. as against £.•5.580 15s 6d last year. Net amount psid on 2795 claims was £35,771 5s Sd. Working expenses were 2 per cent lower than the pievious year at 24.5 per cent. Profits for distribution to membeis, £20,000. The report and baianoe-aheat were adopted, and the chairman subsequently referred to newspaper publicity given to a criticism by the local Chamber of Commerce of mutual insurance companies. •’ This criticism, which apparently questions the stability of some mutual concerns, cannot justifiably be levelled at your own company. ’’ Assets are more than sufficient to comply more than fully with the most stringent legislative requirements relative to nonmutual insurance companies. •• The board invite* any inquiries front m*mi hers or others in relation to the financial stability of the companv,” states the reporb Mr A. .1. Curtis and Dr J. H. Graham Robertson, retiring directors, were reelected*. During the year. Mr Ivon "V. W ilson resigned his position of general manager. Mr Wilson was connected with the company from its inception in 1928. and the directors recorded their appreciation of his untiring service in the interests of the company. IT^lf ssrK -I- W. Jack (Wellington) and M. T. Cameron (Auckland) were elected auditors.

Figures supplied by the Official Assignee show that two bankruptcies were recorded during September, 1934. In September, 1933. three were recorded. During the nine months ended September, 1934, there were bankruptcies compared with 34 for the corresponding period in 1933.