MINING.

Star (Christchurch), Volume LXVI, Issue 20556, 6 March 1935, Page 9

MINING.

Reports and Returns From Operations. MATAKI DREDGE. Mataki Gold Dredging, Ltd., report that the following is the official return to March s:—Yield, 290 z; hours, 133; yards, 13,300. New Cornish Point. The New Cornish Point mine manager reports as follows for the week ended March 2:—For the past week the incline tunnel has been advanced 60ft and timbered, making the total distance 80ft from the commencing point. The country passed through consisted of a mixture of gravel, sand and schist boulders and fairly solid. At 80ft from the surface the rock bottom (which is of a soft and favourable nature) has been reached and at present is rising gradually as driving proceeds. The wash on tlvj bottom is a fairly light gravel containing fine gold, but not of a payable nature. The bottom of the incline tunnel is approximately at low water level, but so far no water has been met with. Driving is being continued following the bottom in alignment with the tunnel in a north-west direction. Tin Dredging Returns. Anglo-Orient Mining Corporation, Ltd., London, reports operating results for the quarter ended December 31 of the following tin-dredging companies under its management:— Working Mine Output. Realn. costs, profit, tons. £ £ £ Kampong Lanjut 8.5 5.450 2417 3,063 Kramat .. 67.75 9,032 3329 5,103 Kampar 155.75 19,712 5753 13,959 Larut 109.5 15,063 5183 9.850 Malim Nawar 67.75 7,480 4748 2,732 Rawang C’cessions 124 15,264 4914 10,350 Rawang . . 55.5 10.704 3134 7,570 The figures, which are expressed in sterling, include adjustments for purchase and sale of quota, but exclude buffer stock production. Bismarck Rang*. Bismarck Range (Lucknow) Gold Exp’oration, N.L., is per share, payable March 27. Books close March 16. Previous dividend (monthly) 3d per share, paid December 27. Mount Morgan Developments. Shares in Mount Morgan Development, Ltd., offered to shareholders of Mount Morgan, Ltd., on the London register, have been conaiderably oversubscribed. Bell Sooper Cromwell Gold. No. 2 tunnel was advanced 12ift, total 803ift from the entrance. The turn in the tunnel has now been completed and its direction for the future will be 35 degrees east of north. Upper Watut Alluvlals. An abridged prospectus of tapper Watut Gold Alluvlals states that the capital of the company is £200,000 in shares of 5s each, of which 600,000 shares have been subscribed at 2s a share on allotment, and 200,000 shares have been issued to the vendor. Mount I.awson Prospecting Syndicate. The company is to develop a sluicing area, on which It is estimated that 16,000,000 cubic yards are available for treatment. The area is on the Upper Watut River, New Guinea. Costs are estimated at Is 3d a yard, and values at 3s a yard. Maori Gaily Dredge. The engineer to the Maori Gully Company reported on March 2 that during the week good progress had been made with the erection of the dredge. The gold tables were nearly completed on the port side and most or the framework was in position on the starboard side. Work on the water supply pipes and launders was well advanced. The stacker had been put in position and many small jobs that invariably crop up near the finish were receiving atten-

SHARE CAPITAL.

Canterbury Farmers’, Co-op. Propose Reduction. An extraordinary general meeting of shareholders of the Canterbury Farmers’ Co-operative Association, Ltd., has been called at Timaru for March 29, to discuss the following resolution:— “That all the share capital of the company be reduced frpm £337,500 divided into 50,000 ordinary shares of £3 15s each, 15,000 preference shares (the issue created on October 12, 1912) of £3 15s each, 10,000 B preference shares of £3 15s each, 5000 C preference shares of £3 15s each, and 10.000 D preference shares of £3 15s each, to £225,000 divided into 50,000 ordinary shares of £2 10s each, 15,000 preference shares (1912 issue) of £2 10s each, 10,000 B preference shares of £2 10s each, 5000 C preference shares of £2 10s, and 10,000 D preference shares of £2 10s each, and that such reduction be effected by cancelling paid-up share capital which is lost or is unrepresented by available assets to the extent of £1 5s in respect of each of the ordinary and preference shares of the company which has been issued and by reducing the nominal amount of such ordinary and preference shares and of all ur issued ordinary and preference shares of the company, namely 5655 unissued ordinary shares, and 2429 unissued D preference shares accordingly to £2 10s each, leaving a liability (in addition to the liability for all calls now outstanding and due upon the ordinary shares) upon all the issued ordinarv shares (except upon 255 ordinary shares which have been fully paid up) of £] 5s a share as at present and that such reduction be without preiudice to the company’s right to sue for and recover all arrears of calls now outstanding and due in respect of the issued ordinary shares or any of them.”

LONDON WOOL SALES.

United Press Assn.—-By Electric Telegraph—Copyright. (Received March 6. noon) LONDON. March 5. Wool available for the sales which open on March 12 totals 169.500 including new arrivals of Australian (33.000 bales) and New Zealand (43.000 bales). It is expected that 128.000 bales will be catalogued.

WHEAT QUOTATIONS.

United Press Assn.—By Electric Telegraph—Copyright. (Received March fi, 2.5 pm) 4 LONDON, March S. Wheat cargoes—Quieter owing to lower W innipeg closing, and some improvement in sterling. Parcels—Quiet. rtft Fu *! ,res ire Quoted:—London. April. 20 s 3d a quarter; June, 31s. Liverpool March. 4« B£d a cental; May 4s 113d’ July,- 5s 2d. dairy produce. A. H. Turnbull and Co.’s Cable. LONDON, March 5. W. Weddel and Co. report:— Butter—Danish butter. 110 s; New Zealand finest, 765; Kangaroo, 78s. Market quiet, no demand. Cheese—New Zealand white and coloured, 465. Market slow. SILVER QUOTATIONS. British Official Wireless. (Received March 6. 1.30 p.m.) RUGBY, March 5. Silver is quoted at 26 11-16 d an ounce (spot) and 26gd (forward).