MINING NEWS.

Alexandra Herald and Central Otago Gazette, Issue 368, 28 May 1903, Page 5

MINING NEWS.

The height of the river at the Alexandia bridge las' evening was 4ft above the " normal " mark. Oar Ida Valley coruspondent writes:— The Cairntrodlie dredg , I understand, has now got round, and is now on the back cut. It is expected to do well coming back, and seeing that they are now clear of debt, it ought to goon reach the dividend-paying stage. The Alpine No. 2 dredge resumed ■fcork on Monday. The "Cromwell Argus" says that th housing of the Rising Sun is nearly •nished, and the machinery is rapidly being placed in position —Messrs Nees are making rapid progress with the Rise and Shine No. 2's pontoons. Everything is now on the ground. The Unity dredge has lately been going through a piece of previouslyworked ground, and the returns have consequently been small. It is expected the dredge will shortly reach solid ground. The work of lengthening the ladder on the Golden River Company's dredge was commenced on Saturday. It is expected the dredge will be able to commence work in about a fortnight's time. The Dunstan Lead Gold Dredging Company has, owing to the good returns for some little time past, made rapid progress, and the heavy liability that at one time overshadowed it has been completely wiped off. There is, moreover, a substantial balance in hand, and if everything goes well shareholders will, in all probability, have the pleasure of a dividend very shortly. On May 20 the company had £1529 17s Id in the bunk, against which there was an overdraft of £503 19s and accounts amounting to £64 4s 6d. leaving a credit balance of £961 13s 7d. The directors decided at their last meeting %o pay off thp overdraft and accounts, and to place £SOO of the balance on deposit at 5 per cent as the nucleus of a reserve fund, after which there #as« Credit balance of £461 13s 7d in the bank. The company's position ha?, however, been improved since, as after the foregoing balance was made up the return of 620z for last week has been reported. The Manuherikia dredge succeeded in getting on to excellent wash, immediately after resuming work near the lower boundary of the claim. The return for tne present week is expected to be a good one, although the drift is still a little troublesome. The Coronation dredge is working steadily. We hear that, so far, the returns have not been so large as shareholders would like. The dredge has 'been turned, and is now working back towards the terrace, where it is believed better wash will be found. The Divis Bend Company are having some repairs effected to the Old Dunstan dredge, preparatory to commencing operations. • The New Bendigo dredge resumed work on Monday, some distance below ♦he upper b jundary of the company's tftam.

I The Sailors Bend, First Chance, Davis Bend No 1, and River Molyneux Co.'s dredges are working steadily. The drift in the gorge is, howstill somewhat heavy. I The Molyneux Hydraulic dredge is frorkirig steadily and is still going through rather poor ground. G The Perseverance No 1 dredge has been stopped for the past ten days, for the purpose of putting in a new tumbler shaft, and effecting other necessary repairs The dredge will frobably resume work at midnight on unday. The No. 2 dredge is working stead ilyj "DREDGINGRETURNS. The following are the returns for the week ending Saturday, May 23rd, .1903 : oz dwt grs llectric No. I, Cromwell ... 122 0 0 Junction ElectricNo 2. Cromwell, 107 2 0 Manuherikia, Alexandra, 91hrs... 77 0 0 Upper Waipori, Waipori. 141 hr... 74 0 C Hart'ey and Riley, Cromwell ... 69 0 0 Dnnstan Lead, Alexandra, ... 62 0 0 Cromwell No 2, Cromwell . . 56 4 0 EarnscleughNo2, Alexandra 126h 54 6 0 Prince Arthur, Shotover ... 50 2 0 Bandy Point, Alexandra, ... 41 317 Alexandra Lead, Alexandra, 124h 38 0 0 Golden Gate. Millers Flat. 6dys 35 15 0 Waimumu, near Gore. 117 hours 35 12 0 Boxburgh Jubilee, Roxb'rgh, 128h 32 18 18 Bnccess, Waipori ... ... 31 3 0 New Half-way House, Clyde Rd 30 13 0 Muddy Creek, Waikaia, 128b ... 30 4 0 Enterprise No 2, Alexandra ... 29 4 0 Boyal Waimumu, near Gore 28 9 0 Waikaka United No 1, VI aikaka 23 0 0 Waikaka Syndicate, Waikaka ... 27 0 0 Mystery Hat, Waikaia, 26 10 0 Island Block, Beaumont, ... 25 14 0 Point d'Or, Cromwell... ... 25 0 0 Enterprise No 1, Alexandra ... 24 18 IS Chicago, Alexandra, 128hrs ... 24 8 0 Waikaka Queen, Waikaka, lllhrs 24 6 0 Matau, Clyde, week ... ... 24 0 0 Happy Valley. Tuapeka. wk 24 0 0 MacCharlton, near Gore ... 23 10 0 Rise and Shine, Up'erClutba ... 23 0 0 Eamscleugh No 1, Alexandra, 112h 23 10 0 Empire No I, Waipori ... 22 14 0 Golden Run, Millers Flat 21 15 0 Central Charlton, near Gore. 133 hr 21 11 0 Waikaka. Waikaka, 120brs ... 20 11 0 Majestic, Miller's Flat... ... 20 11 0 Cromwell No. 1 Cromwell ... 19 16 0 Freehold, Waikaka. wk 10 0 t : Inch Valley, near Palmerston ... 18 0 <> Charlton Creek, near Gore, 127hs 1S 0 0 Lady Roxburgh, Roxburgh ... 17 16 0 Central Matanra, Matanra, 135h 17 15 0 Inchdale, near Palmerston, 138hrs 17 15 0 Waimumu Central,near Gore, 129h 16 2 0 Grand Junction, Nevis River ... 16 0 0 ,JJruty, Clyde... ... ... 15 10 0 *• Junction Eleccric No I, Cromwell 15 2 0 Otago No 2, Beaumont ...* 15 0 0 Molyneux Hydraulic, Alexandra 14 17 0 New Golden Gravel, Beaumont... 14 16 0 Charlton Valley, near Gore. 135hrs 13 5 0 Cairntrodbe, Poolburn, 129hrs 12 14 0 Spec Gaily, near Gore. 135hrs ... 12 13 0 Otago. Miller's Flat, 6dys ._ 12 0 o Endeavour, Roxburgh, 139hr5... 1115 0 Ngapara No. 3, Nevis, 112b. ... 9 7 0 Teviot, Roxburgh, 124hrs ... 9 3 0. Globe, Waikaka, 136hrs ... 513 0 Lower Enfield, Waipori, 72hrs 3 4 0 Total for 60 dredges ... 1763 8 13 Avers .re per dredge ... 28 0 0