MINING

Press, Volume LXXI, Issue 21413, 4 March 1935, Page 13

MINING

TALISMAN DUBBO RETURN The return to March 2 from 51 1-3 tons treated at the Golden Dawn Battery was £357. BIG RIVER REPORT The report for the week ending February 23 states:— No. 4 North Drive—Crosscutting to west. Distance driven six feet. Stopeing proceeding. Stone six feet wide. Rise up 71 feet. Stopped rise to bail water from winze sunk from No. 3 level, preparatory to driving a connexion from bottom of winze to top of rise. No. 4 south drive: This face has been stopped temporarily. Reef in leading stope has lengthened at both ends by 10 feet. Stone eight feet wide, of good quality. Main shaft: Expect to reach bottom of break next week. This will permit bearers to be

placed in position. Total depth from No. 4 chamber 45 feet. Battery—Battery is working two shifts a day. Cleaning up this weekend. .MAHAKII'AWA REI'ORT The report for the period ending Wednesday. February 27, states:— South east crosscut from behind the leading face has been advanced to 27ft. For the last 10ft the bottom has been rising again and is now 6ft higher than when we commenced to crosscut. This is now stopped and the men have been transferred to the leading face, which would appear to be still in the lowest part of the gutter. Arched drive to connect with Golden Gate workings: After squaring up the timber at the spot where we holed through, we came back and took up the bottom for a distance of about 30ft. This went down a distance of about 4ft in the centre and tapered off at each end. The wash was composed of small stones and was very black and showed no gold. A blocking strip was started 165 ft back from the leading face on the east side and beaten out for a distance of 20ft. The wash was good grade to start with, but the values did not last so the face was stopped. A further blocking strip was started opposite the above on the west side and has been advanced 20ft. This also started in good grade wash which has become poorer, though this strip would still appear to be in the gutter as the large boulders are typical of gutter wash and are not found to the same extent outside of the deepest ground. Golden Gate section: After filling in the low ground encountered in the arch drive, rails were laid and air and water pipes brought in to this section. A crosscut west was started at a point 65ft south'of the Golden Gate shaft and after being driven sft hit | the wall. This was followed for another 10ft. during which distance it rose 10ft. This is now stopped and we are driving south along the wall. King Solomon Section: The crosscut j west, mentioned in last report, was j started opposite Craig's Shaft. This ; point was chosen, as there was space I available for dumping the spoil until I the rails were laid as far as this. The crosscut is in 15ft in likely looking wash. For the first sft the bottom rose about loin, but it has now dipped an equal distance, so it is again level with the start. Twelve pennyweights of gold have been obtained from dish samples taken in the first 10ft including one piece of Sdwt. ;

Advice has been received from the [mine manager that the wash-up on Saturday produced 22 ounces of melted gold. COMPANY PROMOTION LEGISLATION DO.MIMON STOCK KXCIIANCK CIUTICISM A meeting of the Dominion Stock Exchange, a duly registered exchange, was held in Wellington, when more than 60 registered sharcbrokers from all parts of the Dominion were piesent, or represented by proxy. The report of the Royal Commission on company promotion methods was discussed, particularly the sections about stock exchanges and to the proposed Corporate Investments Bureau, and the following resolutions were unanimously adopted:— (1) The Dominion Stock Exchange protests against the suggested Corporate Investments Bureau as being non-British, socialistic, and theoretic in principle and certain to prove restrictive and vicious in operation. The best interests of the investing and tax-paying public are not to be served by the creation of further Government departments. The need is to give business relief as far as possible from existing vexatious restrictions and harassing taxation. (2) The exchange records its protests against the proposal to make bond issues illegal, as there is nothing inherently wrong in bond issues, and it respectfully recommends that the New Zealand legislature be guided by British Company Law. (3) The exchange expresses the earnest opinion that if a new development in social outlook is to operate regarding salesmen any legislation requiring registration of salesmen should apply equally to life insurance, real estate and other forms of soiling. (4) The exchange protests against any legislative restrictions to the formation of Investment Trust Companies and recommends that the Companies Act, 1933, is sufficient and should apply to the formation of such companies. (5) The exchange urges the Government to repeal Section 343 of the Companies Act, 1933, as being unduly restrictive and rendering virtually im-

possible, under the conditions prevailing in New Zealand, the flotation of even the soundest company proposition. The primary need is to get capital and labour rcproductively employed in new industries by public companies. METALS MARKET (UNITED THESS ASSOCIATION' —BY ELECTRIC TELEGRAPH— COPYKIGUT.) I,ONI)(lN. Mllivli 2. l<'el>. 2S. Mar. I. £ s. (1. £ s. .1. Sl;iii(liir.l. ■<]><>( -" s 1 i - ' lh 1(l i l-'orunrd .. H 7 I". 71 -J* -t 11 KlrrtroMi,: .. ::ii 10 n :;I 0 o In " .. :M " " :; l 1" " Wire l.iii-s . . :il n n :si in o .\tii<ri,:in cli.-ctrolvlii:: 9 cen.s Per In. Le:.<l - Spot .. I" << '' 10 •' ° Voi-war.l .. 1" '! ' '■■ '" ■"' 7i Spfllfi Spot . . H * '■> II 7 li ].'or«iird . . 11U :! -11- 1-1= '•> Tin s'n<ii. . . '-Mr. in o -'-n in (i Forward . . 211 12 <> 213 7 ti Silver— Kino, per oz. . . 25 11 -lfiil -(»_ 1-1 Oil Standard, per o/.. L'TfJd 28.',<1 rYb. li'-'. Mar. 1.

Pip Iron — Homo trade . . ■ — •'• ' f ' Kxport . . Antinion.v British .. Koreisn .. -- < ;n 10 0 (a unit) i« "nit) .MnUhdeiiHo .. - - 1 11 li WolVrnm ... 1 18 0