C—3.

The following statement shows the value of the bullion-production and the proportion of the same paid in dividends during the year : —

* In addition to the gold produced from the gold-mines, silver w..s aL-o obtained from Ibem, lienee the wo v " bullion " is used in preference to "gold." "j" The bullion-production is from 111 d;odgers, but the dividends given aie only iiom :i~! oi these, the property ol registered companies. The profits of privately owned dredgers and mines are unobtainable! which renders this sti lenient incomplete. i The bullion-production is from 280 alluvial claims, but the dividends are only ascertainable from lb of them, the property of registered companies. (1.; yUAKTSi-idIMNG. This branch of gold-mining continues to increase in importance, and there is satisfactoryevidence that this prosperity will continue. During 1909 bullion to the value of £1,526,861 was obtained by the reduction of 693,006 tons of ore, being an increase of £49,849 and 38,699 tons above the output of the previous year. The dividends declared from these mines amounted to £598,271, equivalent to 40 per cent, of the total value of the bullion produced. The Waihi, Karangahake, and Inangahua goldfields have increased their annual yield of bullion, the last-named field having revived remarkably, showing for the year an increase of £54,720 in value of bullion and £27,355 in the amount of the dividends declared. The Thames, (Joromandel, and Otago quartz-mining fields have not maintained the prosperity of former years; but deep-level developments are being carried out which it is reasonable to believe will add new life to the Thames Goldlield, formerly the most productive in the Dominion. On all the goldfields improvements and additions are being made' to the reduction-works at the mines by the installation of the Waihi system of tube mills, "B and M " agitators, and vacuum-filters, the result of which will be extremely beneficial, as ore of lower grade than now operated will thus be rendered payable. The following is a statement showing the tons of ore treated, the value of bullion produced, and the amount of dividends paid by quartz-mining companies in each of the inspection districts during the years 1908 and 1909: —

Northern Inspection District. Waihi Goldfield.- -Waihi Cold-mining Company (Limited): By the courtesy of Mr. H. P. Barry, M.lnst.M.M., superintendent of the company's mine and operations, I am able to present cross-sections showing the remarkable vein system operated upon at this mine, these sections have never previously been published. The magnitude and unique characteristics of this the most important gold-mine in Australasia, and one of the greatest gold-mines in the world, will be at once seen from these sections, and the small accompanying plan which has been prepared from the official mine-plans in this office. The total value of the output at the end of the year was £8,180,218, of which £959,594 was obtained during 1909. The total quantity of quartz reduced at the end of the year was 2,827,137 tons (of 2,000 Ib.) dry weight, of which 416,813 were milled during 1909. The total value of dividends declared at the end of the year was £3,561,111, of which £446,316 was declared during 1909. The capital account of the company is about £330,000; consequently it will be seen that the subscribed capital has been returned tenfold in dividends, and that during 1909 the dividends paid were equivalent to 130 per cent, on the total capital subscribed. The average value of

5

c Production of Bulliou, 1909.* (All mines.) Dividends paid, 1909. (By registered companies only.) Number of Persons , rtr N , umb " ° f ordinar.lv em- ! Vvorking Mines, ployed. Dredges, and * ' Claims. Quartz-ruining ... Dredger mining ... Alluvial mining ... £ 1,526,861 327,6761 333,2351 598,271 56,788+ 11,4891 3,727 L59 b93 111 2,875 280 j Totals, 1909 2,187,772 2,187,772 666,548 666,548 7,495 7,495 550 550 Totals, 1908 2,180,262 668,726 8,685

Inspection District Tons of Ore treated. Value of Bullion. Dividends paid. (By registered companies only). 1909. 11)08. 1909. 1908. 1909. 1908. Northern West Coast Southern £ £ ... 573,470 i 546,905 1,301,002 J 1,302,065 ... 108,136 j 95,156 214,876 L60.156 11,400 12,246 , 10,983 14,191 t £ 554,316 545,233 1:3,955 16,600 Totals ... 693,006 654,307 1,526",861 1,477,012 598,271 561,833