SHAREMARKET.

New Zealand Graphic, Volume XIX, Issue XXVI, 18 December 1897, Page 810

SHAREMARKET.

Grace Darling and Partsea shares had more attention on the Exchange this week and advanced in price in consequence. Dull as business is, it only requires a demand to set in for any particular stock to cause the shares to be firmly held, and an upward movement takes place immediately, which proves that a revival would quickly follow even a slight demand. Moanataiari shares changed hands during the week at 6/3, at which price they should certainly be a safe investment. Sheridan shares, which have been neglected latterly, once more claimed attention this week owing to the fact that a leader was cut at the low level which showed good gold. Should this be the forerunner of cutting a payable reef in this level great results may be expected from this mine, as very rich gold was got in the reef where worked in the higher levels prior to putting in the present drive to get it lower down. Low-priced shares in Waihi mines have had steady buyers during the week which would seem to indicate a move in that district shortly. The gold returns for the past week total £8,375 3/4, of which £4,443 10/ was from the Crown Mines ait Karangahake. Two rather surprising returns were obtained from Coromandel mines, 58 tons of ore from the Welcome Find having yielded about £640 and two tons from the Kapanga £4OO. The latter was the reward of two tributers for fossicking in the upper workings, and goes to show how much gold may have been missed in this district by companies working in the early days. The Hauraki return this month was again a satisfactory one. and the yield from the Waihi-Silverton was up to last month’s average as far as the value of the ore treated was concerned. It is now, of course, too near the Christmas holiday season for any move to be expected on the Exchange, but present appearances would seem fo point to better business in the early part of next year. As w-e anticipated last week, the suggested increased taxation on mining companies did not eventuate, there being manifestly no desire on the part of our Legislature to in anyway unnecessarily hamper so important an industry as that of gold mining. The Public Accounts Committee amended the objectionable clauses so as to leave matters as they were.

HAURAKI RETURN. £ 1,337 FOR THE MONTH. The quantity- of ore treated by the Hauraki Company (Coromandel) during the past month was not so large as usual, consequently the return shows a slight falling off. The average value of the stone treated is, however, about the same as usual, 235 tons of ore and 285 Tb of picked stone having returned bullion worth £1,337 13/4. The previous month's return of £1,646 was from from 280 tons of ore and a parcel of picked stone.

KAPANGA.

£4OO FROM TWO TONS. Coromandel is undoubtedly the happy hunting-ground for tributers as there are so many- small but rich leaders near the surface that will payhandsome. wages to men, although not large enough to warrant their being worked by companies. Occasionally, however, 'tributers make more than wages. The famous Legge’s reef in tin- Hauraki mine was discovered by tributers. and latterly some rich finds have been made in the upper workings of the Kapanga mine by the same hardy class of prospectors. This week Messrs Gunn and Andrews, who hold a tribute in the Kapanga mine, crushed alxiut two tons of ore and about 3<>n> of picked stone for the

splendid return of £4OO worth of bullion. The men have hopes of getting further handsome returns from the same block of ground.

N.Z. CROWN MINES RETURN.

£4,443 FOR THE MONTH. This Karangahape company is steadily increasing the monthly returns. The one for the past four weeks is the largest this year ; the only- other bigger one was that of December. 1896, which amounted to £4,628 10/. The amount of ore treated during the past month was 2,034 tons, which yielded bullion valued at £4,443 10/. This gives an average value per ton of about £2 3/8. The ore was treated by the wet process, and the return is very nearly two tons of ore treated per stamp per day, instead of one ton when the dry process of erushing was used. At present the battery is being supplied with poor ore from Cowards’ workings. When the pump can be started in the new underlie shaft operations will be resumed on the reef at No. 6 level, which is 15 feet wide, and the return per ton should show considerable improvement, as the value of the ore is said to be about £5 10/ ]>er ton. It is expected that this reef will be worked some time in the New Year. Last month’s yield was £4,230.

WAIHI - SILVERTON RETURN.

£1,554 FOR THE MONTH. Owing to scarcity of water the quantity of ore treated by this company was not so large during the past month. The value per ton of the ore treated was, however, about the same as the formei- crushing. The quantity- of ore erushed for the month ending December 4th was 1,150 tons, which yielded bullion valued at £1,554. It is expected that the reef in the lower level will be cut about the third week in January.

WELCOME FIND RETURN.

£640 FROM 58 TONS. The richness of the ore in the vicinity of the famous Hauraki mine at Coromandel is shown by the return just completed for a crushing by the Welcome Find Company. The total amount of ore treated was 58 tons, including 1201 b of picked stone. The yield from this parcel was 23540 z of gold, estimated to be worth £640. This ore was taken from the southern lode at No. 2 level. At No. 1 level the lode has been met with in the footwall, and looks very promising. The manager thinks this lode is identical with the body of quartz intersected southwards at No. 2 level. After driving 70 to 80 feet on this reef the clay- formation should be reached, underneath which the best specimens were got in the southern lode.

MONOWAI GOLD MINES (LIMITED).

1 u the south-west level from No. 2 adit free gold shows, and is of a payable nature. In the No. 3 north-east level the reef is over 30 feet in thickness. and of the same nature and quality as the level above. The tram line is being pushed on with from the No. 3 B adit to the battery with all speed. All necessary repairs to the water race have l>een effected, and the alterations to the battery are proceeding. At the Gem mine everything is now ready for breaking down the ore. which is of good quality from the tests made.

JERSEY.

Very encouraging reports are received regarding this mine. A number of leaders and reefs of various sizes are all carrying gold. Two reefs. 2ft and 3ft thick, respectively, cut in trenching on a spur, contain visible gold and prospect equal to 2oz ]>er ton. The recent crushing of two tons for the handsome yield of 51oz per gold was got from a trench two chains long by 4 feet deep, and the small leader cross-cut has now cut a leader about 15 feet below the surface of the trench, and a start is being made to get out another crushing, which should take place early in the New Year. It is anticipated another payable return will be got from this source.

AUCKLAND STOCK EXCHANGE.

The annual meeting of the members took place this week. Mr J. M. Lennox was unanimously re-elected President, and Mr J. M. Mowbray- was chosen Vice - President. Messrs L. Levy and A. Carrick were elected members of the Committee in the place of Messrs F. Hull and Friar Clarke, who retired. Mr Larner was appointed Auditor, and Mr R. E. Isaacs Secretary. Messrs F. Hull and Friar Clarke were elected members of the Committee of the Auckland Stock Exchange Company, and Mr V. J. Larner Auditor.

WOODSTOCK.

A parcel of 25 tons of ore from this mine has been treated at the company's battery by the wet process to see if that is suitable. The result has been highly satisfactory, as the actual extraction of bullion amounted to 82 per cent.

GOLD RETURNS FOR THE WEEK. Companies. Tons. £ s. d. N.Z. Crown Mines.. 2034 4443 10 0 Waihi - Silverton ... 1150 1554 0 0 Welcome Find 58 and 1201b. 640 0 0 Haurakl 235 and 2851b. 1337 13 4 Kapanga (tributers) 2 251bs. 400 0 0 Total for week... £8.375 3 4