SHAREMARKET.

New Zealand Graphic, Volume XX, Issue XIX, 7 May 1898, Page 574

SHAREMARKET.

II OST attention was paid to -Jx Thames stocks on the Exchange during the past week, but transactions all round were not numerous, as more time was devoted to discussing the war news than anything else. Alburnia shares had an upward movement from 3s 3d to 3s <d. and at the moment more could still be sold at the advanced rate. The cause of the rise has not so far been explained. It appears to be taken for granted that local shareholders in English companies are not entitled to any news as to the development of the properties in which they are jointly interested. The cause of the advance in the price of Tararu Creek shares is also unexplained so far. After advancing from Is to 3s 4d. the demand for these shares suddenly ceased, and now there are sellers at 2s Bd, with no quoted buyers. Bunker’s Hill shares had steady inquiry during the week, but few sales resulted at the prices offered. Still there is a feeling abroad that this stock is more likely to move upwards than down. Moanataiari shares firmed a little during the week, and May Queens had steady demand each day at 6s 2d. but no shares were offered under 6s 6d. Another stock that had regular demand was Monowais, shares changing hands at 4s 6d. with steady buyers left at 4s 4d. Transactions took place in I’uru Consolidated shares at 2s 4xl, due no doubt to the fact that crushing will shortly commence. The long-looked-for return from the Royal Standard mine, Wharekeraupunga. which under the supervision of Mr Ralph was so highly thought of. has been indefinitely postponed, the new manager. Mr Pascoe.having shut down all works for the present. Experiments are still proceeding with a view to discovering a cheaper method of treating the refractory ore found in the Woodstock mine at Karangahake. Meanwhile, those share s meet with little inquiry. Crown and Waitekauri shares were offered at a slight concession this week, the severe slum]> in Westralians having apparently affected other stocks. Waihi shares, however, had steady inquiry throughout the week at 965. with no sellers under 100 s. The Mahara Royal mine. Tapu, cleaned up for the month and obtained bullion worth £550. At Coromandel the Hauraki mine yielded £l2'7 worth of bullion for the month, although 100 tons less of ore was treated this time. Tributers in the Kapanga mine. Coromandel. still continue to get satisfactory returns. Messrs Horne and Johnston crushed three tons of ore this week and 401 b of picked stone, for a yield of bullion worth about £250. The Waitekauri Jubilee Company’s new battery is now approaching completion. and crushing is expected to commence very soon. At Te Aroha the Rev. Joseph Campbell has completed the plant erected to treat ore by his new process. The preliminary trial proved satisfactory, and Mr Campbell expects now to start permanent work. Should this process prove successful, it will mean a great deal for the Te Aroha section of our goldfields. During the past week meetings of a number of what may be termed local prospecting companies were held, and as the credit balance in nearly every instance was very small, no doubt a number will pass out of existence.

EAGLEHAWK. Work has been resumed and prospecting is proceeding at the northe-n portion, which has not been worked before. REV. ,T. CAMPBELL’S PROCESS. The Rev. J. Campbell has already had a preliminary trial of the plant erected for the Montezuma Company at Te Arolia, to treat ore by his new process. Everything worked satisfactorily, and Mr Campbell hopes within a few days to get steadily to work. ROYAL STANDARD. Mr Pascoe, the manager of the Royal Standard, has dosed down the mine for the present. A large number of men have therefore Wen thrown out of employment. Mr Pascoe is in communication with the London directors as to further work on the projierty.

KAPAI-VERMONT. MACHINERY SOLD. Thenew Kruppmill with engineandboiler recently purchased by the Kapai-Vermont Company were yesterday sold by order of the Court, under a judgment obtained previously. Mr J. J. Craig bought the whole plant tor £7OO. WAITEKAURI JUBILEE COMPANY. This company is at present employing a large number of men making extensive alterations to the battery, which will now shortly be completed, when it is intended to commence crushing operations, as it is estimated the Company possesses sufficient dirt of payable quality already to paddock to keep the battery going constantly for the next 12 months. HAURAKI ASSOCIATED MINES. During the past week the ore won from the stopes on footwall lead at No. 2 level has been of average quality. In the eastern drive the country has shown an improved appearance, l>eing better for working and also for gold. Ote of fairly good quality continues to l>e won from the Rainbow end lead. Crushing was resumed on the 2nd of May. KAPANGA TRIBUTERS. Payable returns continue to be obtained by tributers working the upper levels in the Kapanga mine. Messrs Horne and Johnson secured 87oz 12 dirts of retorted gold from three tons of ore and 40 lbs of picked stone, value £250. Messrs Delamors and McKay obtained 311 b of good picked stone c.t the 420 feet level. WENTWORTH. The Hauraki Peninsula Exploration Company, which holds an option over the Wentworth mine at Whangamata, has notified the directors that three tons of ore taken from the property ami treated at the Thames School of Mines returned at the rate of £l7 10s 3d per ton. The assay value of the ore prior to treatment was £l9 Ils per ton. The assay value of the tailings per ton is £1 Is 4<l. HAURAKI RETURN. £1,277 FOR THE MONTH. The Hauraki Company, Coromandel, crushed 130 tons ot general quartz and 1171bs of picked stone for a yield of 4240zs ISdwts of melted bullion estimated approximately to be worth £1,277. The quantity of ore treated is 100 tons less than the previous month, and as the return is not correspondingly smaller in proportion it is evident ore of better grade is being won from the mine. WAITEKAURI. This Company’s operations both at the Golden Cross and old Waitekauri mine continue of a satisfactory nature. At the former section of the Company’s property driving on the reef at No. 2 level north of the main crosscut shows the lode to be large and of a highly remunerative character, whilst in the rises from this level to meet No. 1 level, the same high grade ore is found. In the drive south and also in the drive on the lode from No. 2 shaft crosscut no change of importance has occurred. At the old Waitekauri mine sinking on the reef is being continued below the Queen level,and the lode, which had pinched small, has, during the present week, widened out again to about 2ft 3in and is of splendid quality. CHAMBER OF MINES. A meeting of the Council of the Chamber of Mines was held this week, when there were present, Messrs John Chambers, Alfred Nathan, R. E. Hunt, C. Rose, Colonel Burton (who presided), J. Macfarlane, James Russell, A. P. Griffiths, and W. Gonie. AletterwasreadfromMrGraves Aicken resigning his position as vice-presi-dent of the Chamber. The Chairman suggested that as they could not elect a president till the annual meeting it would be well to elect a chairman in the interim. He moved that Mr James Russel l>e appointed to the position. This was agreed to, and the resignation of Mr Aicken was received with regret. The secretray submitted an account showing a balance of £lB5 8s 7d, out of which £3B 13s required to be paid.