Exchange Notes.

New Zealand Graphic, Volume XXII, Issue XVI, 22 April 1899, Page 527

Exchange Notes.

Gold output for the month was £45,313 14s 2d. New Zealand Talisman yield to hand since the returns were compiled was £3609 2s 2d from 900 tons. Grace Darling shares are moving upwards, and a successful flotation is anticipated. South British Insurance had inquiry this week, a dividend of Is 6d per share being paid. Directors of the Pukewhau Company have let that mine on tribute. Bunker’s Hill shares have eased, as the ventilation in the mine is so bad that work is hampered. The leader still shows strong colours of gold. Picked stone worth half an ounce of gold to the pound is being won from the Progress Rock mine, Coro* mandel. Waihi return this month totalled £22,093, which was obtained from 7635 tons. Transactions took place in Talisman shares this week at 15s 3d, and buyers still offer 15s. In four months this mine returned bullion worth £13,715 12s 2d. Heavy sales were made of Alphas this week for forward delivery. Westport Coal shares were wanted this week at 62s 6d. Other coal stocks were neglected. An offer of 29s for New Zealand Accident Insurance shares failed to cause sales. May Queen of Hauraki shares advanced this week from 6s 3d to 6s Bd. Buyers evidently think the gold in the Saxon section will soon be encountered. The total output from the Waihi mine has now reached £960,044, of which £ 372,500 has been distributed in the shape of dividends, and the £1 shares are still quoted at £6. Luck seems to follow some men. Messrs Andrews and Gunn, who had such a rich tribute in the Kapanga mine, and afterwards took up a claim on the Takatea range, have struck a leader andgot ten pounds of rich stone. A niee patch of picked stone has been discovered in the Butterfly mine, at Coromandel. Some nice stones showing good gold have been got from the Just in Time lode in the Welcome Find mine at Coromandel. The Hauraki Associated Company has started crushing again, thirty tons having yielded £285. At the Thames-Hauraki mine the enlargement of the Queen of Beauty shaft will be sufficiently completed this week to enable the cleaning out of the level to be undertaken preparatory to driving on the Vanguard reef. A crushing by tributers in the May Queen mine of sixty-six tons of quartz yielded gold worth £2OO 13s Bd. In the Wonder of the Age claim. Coromandel, strong colours of gold are seen in the face of the reef, which is one foot thick. The Mariposa Company, Kuaotunu, obtained £404 4s lid from 240 tons of ore, and 315 tons of tailings. In the Imperial Company’s low level the reef is showing gradual improvement. Maratoto shares had demand this week at 2s sd. Not long ago it was hard work to sell them at sixpence. At the last breaking flown in the Puru Consolidated mine the manager got some of the best gold seen since contracting started in the mine.

New Zealand Crown Mines return this month showed considerable improvement, £5652 being obtained from 2730 tons of ore, making a total output to date from this mine of £206,261. Waihi Silverton shares advanced steadily until 15s was reached, and then buyers eased off, but holders still ask 15s 6d.

A good advance was made by Royal Oaks this week, sellers at Is 6d being replaced by buyers at Is Bd. The Moanataiari mine produced ore this month which when crushed yielded £917. Of this amount £554 Is 9d belonged to various tribute parties. Shares in the Whangamata Gold Corporation are wanted at 3s 6d, as the new crushing plant is now rapidly approaching the stage when ore can he treated. It is estimated that there is at least 15,000 tons of ore in sight worth from £3 to £4 per ton. It is confidently expected that the Waihi Gladstone Company will share in the better prospects which are being obtained at the Waihi Silvertow mine. The management have decided to erect an assay plant on the property in order to systematically test the value of the ore, of which there is a large quantity in sight.

Union Steam shares were asked for this week on the Exchange, but holders would not accept the £lO 7s 9d offered.

Taupiri Coal shares sold at 20s 9d. This is the new company that absorbed Ralph’s, the Extended, and Waikato Coal Companies.

Steady demand existed this week for Waitekauri shares at 38s, but sales did not result, holders preferring to wait for better prices. The Cardigan Company at ths Thames obtained £137 7s 6d this week from 25| tons of ore. Tributers also crushed 42 tons of ore for £122 10s 9d.