Exchange Notes

New Zealand Graphic, Volume XXIII, Issue XVI, 14 October 1899, Page 673

Exchange Not es

Cable pdvices were received this week from Loudon stating that the reconstruction of the Hauraki South Company had been successfully arranged.

A trial parcel of 86 loads ore from all parts of the Fame and Fortune mine yielded 85ozs of gold. Manuel and Plummer, tributers in the Bullion mine, Tapu, crushed 25 tons of ore for a yield of lOOoz 16dwt gold, value £391.

High grade ore continues to be won from No. 2 level in the Barrier Reefs mine.

Tributers in the Waitekauri Jubilee mine have obtained another yield of bullion worth £316 8/. Large parcels of shares in the Tairua Broken Hills mine changed hands this week owing to the reef at No. 1 level proving to be 26 feet thick, and yielding ore that assayed satisfactorily.

During the past month 140 tons of ore were treated by the Komata Reefs Company for a return of bulli m valued at £277.

Good reports are made regarding the Khartoum mine, Maratoto, the reef being two feet in width and yielding satisfactory dish prospects from any part tested. The Waiotahi Company obtained bullion worth £ 400 12/2 from 95 tons of ore.

Operations have been resumed by the Kurunui-Caledonian Company at the Thames. Silver to the value of £ 3301 was exported from Auckland mines during the past month. Grace Darling shares advanced from buyers at 1/10 to sales at 2/3 during the week. South British Insurance shares sold and were still wanted at 55/.

The gold exported from New Zealand for the past nine months is valued at £1,106,527, an increase of £324,979 upon the output for the similar period in 1898.

A parcel of 40 tons from the Puru Consolidated mine was crushed at that company’s mill for a yield of bullion worth £63. This is claimed to be payable.

Boring operations have been resumed in the Ohineinurl mine, Waihi. The manager reports that the boiler has been removed from the Consols ground to the Waihi South shaft, and everything is going on satisfactorily. Nine tons of quartz from the Juno property at Kuaotunu have been treated on behalf of tributers for a return of gold, estimated to be worth £lB6. This is at the rate of over £2O per ton.

Four-in-Hand shares advanced from 2/6 to 3/4 owing to 74 tons of ore from the mine having yielded bullion worth £B5O 4/6.

The Auckland Diamond Prospecting Syndicate having now obtained a mining title to 300 acres of Crown land at Riverhead, decided to vigorously prospect the same. It is estimated there are 30,000 tons of payable ore in sight in the Tararu Creek mines, Thames.

Buyers of Union Oil shares advanced from 19/6 to 20/ this week, candles having advanced in price.

A large reef has been, discovered in the Royal Standard mine that was never touched by that company. Assays have proved it a payable one, and Captain Hodge is satisfied the Royal Standard will yet rank amODgs| the bullion producers. /

The London directors of the Puriri Gold Estates Company have decided to vigorously develop the property. This decision is the outcome of the fact that five bags of ore from thq, various reefs discovered were sent to London, gave assay results ranging from a trace of gold to £7 10/, £lO 10/, and £36 per ton.

During the week an improvement showed in the quality of the ore won from the stopes in the Bunker’s Hill mine, Coromandel, strong blotches of gold being seen at each breaking down.

N.Z. Crown shares after being in demand at 12/10 eased off a little towards the end of the week, but holders still asked 14/.

Waihi South shares sold from 8d to 91d.

Buyers came in for N.Z. Drug shares at 51/.

Enquiries were made for National Insurance at 16/4, and N.Z. Insurance at 60/6, but sales did not result. North Mt. Yyell shares had demand at 70/.

Scotty’s mine at Coromandel is now working at a profit. Referring to the Hauraki goldfields the Government Mines Record states:

—“There is no booming at the present time, but there is a marked improvement and more assured confidence in the stability of the mines at Coromandel, Thames, Karangahake, Waihi and Waitekauri. It will not be surprising if there is a large influx of capital to develop some of these properties during the next few months.”

Local shareholders in the Woodstock G.M. Company met this week and agreed to the proposal to reconstruct on a basis of writing down the shares to 13/4, so as to leave 6/8 to be called up which will produce £50.000 for developing the hitherto untouched lower levels.

The accounts presented this week at the annual meeting of the Victoria Company showed a credit balance of £209 9/3. Gold worth £425 13/10 was won from the mine during the year by tributers.

During last month Auckland mines contributed £40,430 to the gold export of the colony. West Coast was

next highest with £35,761, and Otago third with an exjxirt of £32,327.

Tributers in the Kurunui-Caledon-ian Conqiany, Thames, crushed 63 loads of ore and 2721bs of picked stone this month for a return of bullion valued at £832 16/3. A new reef has been cut in the Waihi-Silverton mine. A rich patch has been discovered in the Hauraki Associated mine by a party of tributers who secured lOOlbs of picked stone with still a good show left in the face at last report.

The estimated cost of the erection of the battery, machinery, tramway, and water-race, etc., at the Grace Darling mine is £6,631 1/11. The plaut will be so arranged that the ore will not require handling from the time it is loaded into the trucks till the refuse leaves the vats.

Stone that shows gold freely is being won from the Cambria reef in the Moauataiari mine at a point 103 feet below where the rich patch was met with some time ago. Good stone is being obtained from the winze now being sunk on No. 4 lode in the May Queen of Hauraki mine. No. 4 lode has not yet been cut at No. 7 level, but should now be near at hand.

Connection has been effected between the low level in the Maratoto mine and the winze sunk on the rich chute of ore. Shares were enquired for this week at 2/6, but no sales resulted.