MINING NEWS.

New Zealand Graphic, Volume XVII, Issue XXII, 28 November 1896, Page 112

MINING NEWS.

SHAREMARKET. AN improvement has taken place in the tone oi business on the Exchange during the past week, particularly with regard to high-priced stocks, for which there has been a steadily-growing demand. This is, no doubt, due to the fact that such excellent crushing returns were obtained this month from both the Waihe and Waitekauri mines, while the Victoria yield was also an improvement upon the previous one. The Waihi Company has also declared a dividend of 2s per share, which means the distribution of /'16.000 amongst the lucky shareholders. The return from this Company for this month is the largest to date for any four weeks, and brings up the total output of bullion from this mine since 1890 to 2474,3°3- Besides paying all expenses this mine has repaid the shareholders all the original capital invested, and is now paying all dividends pi ofit. The Waitekauri return was important in so far that it was the second yield from the new battery, and was an improvement upon the previous one. These mines show clearly that when properly worked large bodies of poor grade ore can be made to pay handsome interest on the capital invested and it is the knowledge of this fact thatis, nodoubt, causing more inquiry for the high-priced stocks. Moanataiaris after being neglected for some weeks, sold at 17s, and were still wanted at that figure. There were also steady buyers of Woodstocks at 475, Waihis at 2-6 ss, Waiotahis at 40s, and Crowns at 455. May Queens, Kapai-Vermonts and Talismans were also a little firmer. Puru Consolidated shares had an advance irom 5s id to 6s 4d, while buyersof Hazelbanks advanced their offers from 5s gd to 6s id. Cheap stocks were, however, neglected. Bunker’s Hill shares reached 6s one day, but subsequently fell back to about ss. Toward the close of the week there was an improved demand for Coromandel and Kuaotunu stocks. WAIHI CRUSHING. A SPLENDID YIELD. 2.13,143 FOR THE MONTH. ANOTHER DIVIDEND DECLARED. The past months return from this mine was the best obtained by this Company for any four-weekly crushing to date. In all 2,940 tons of ore were treated for a return of 213,143, making a total output for the year of 2'119,590, and from the mine since 1890 of 2474,303. Last year's output totalled so when the December crushing is added the year’s yield should be the largest yet from the Waihi mine. Another dividend of 2sper share was declared this week, being the fifteenth paid by this mine. The ore treated during the past month was of higher grade than the average, as although 120 tons more were treated the previous month, still the yield for November 7th showed an increase of 2692. BRITANNIA. 2" 1,200 DEPOSITED. The sum of 2 b 2OO was plsced to the credit of this Company during the week in connection with the purchase of the property by a London syndicate. A further sum of 29°° ’ s to follow shortly to reimburse money already expended. WAITEKAURI RETURN. 2.5,670 FOR FOUR WEEKS’ RUN. The second return from the Waitekauri Goldmining Company by the new battery is a highly satisfactory one. 1,674 tons of ore having yielded 25,670 worth of bullion. This is a decided improvement, asthe first crushingcompleted in October was 2.6,000 for eight weeks’ run of the battery. The present yield comes nearly to the same amount for only four weeks' work. Since the Ist of March, 1896, the date when the property was taken over by the English Company, up till the present time, the output of bullion from this mine totals about 2 2 9. 2 12. of which 2 1 1.670 was got during the twelve weeks since the increased stamping power has been employed.

VICTORIA RETURN. OVER 20ZS TO THE TON. This old Thames mine is giving regularly increasing crushing returns. Last month 130 loads of quartz yielded 2250 ZS of gold. This month there is a decided improvement, 110 tons having returned 2370 ZS 6dwts of gold worth about 2.653.