MINING NEWS.

Dominion, Volume 3, Issue 649, 28 October 1909, Page 9

MINING NEWS.

•:■ WELLINGTON MINING MARKET. ■'■•'' A fair business was dono yesterday, but values ■rule.low. Talismans'wore depressed owing to some difficulty with the water, but which the managor regards as purely temporary. Whatever the, difficulty, it has inado no difference ' to the ■ dividend for the Stock Exchange yesterday received the. following telegram i-"Quar-torly dividond- ofi Is. 6d. has been declared payable. November 25. Transfer books dosed ono day, November 10." Waihi Grand Junction sharos j continuo depressed. The day's sales were as under:— May Queen, 4s. 2d. (first call).'' New Sylvia, 4s. 2d. (first call). ■ ■ ■ '£2 9s. 3d. (first call); £2 9s. 3d. (third call). . j ■ ■ . Waihi Grand Junction, £2 ss. 6d. (second call). • Consolidated -Goldflelds. IBs. (second call).- ' Progress; 13s. 3d. (third call). ■■■ ••■■•' QUOTATIONS. ; The latest Quotations, with last rocorded sales, Buyers. Sellors.■:■' Sales. ,s, v. ... £ 6. d.. : £b. d.\ £s.d. oixon ■ Consolidated — 0 0 11 — Dominion :........... 0 0 3 0 0 5 — Kurauui ..-...:... 0' 07S 0 010 •— ■ " Kuranni Caledonian ... u l i o l s — May .Qneon ; 04 0 04 2 .04 2 Maonland _ „o oil — Mountain King (paid)... . - 013 _ N.Z. Cr0wn....... ;..,-. o6 6 - ' -=-V Now .Sylvia ....0 4 1 - o 4'2 Old Hauraki _... _ 02 6 — Eoyal Oak _ )j { _ 5dx0n............. Oil 0 1 X — ■ Tairua Broken Hills..;."' 012 015 - ™™an 2 9 :0 2,9 3. 2 9 3 Waihi .'.....;..;• 915 0 9la 0 -; Waihi. Extended ........ 0510 5 4 — S a ! h .' J? rand Junction 25 3 25 6 25 6 Waiotahi ....................:.. — o 4io — S a i ta . nßi - ° 5 8 0 310 — Watchman 0-25 '■ — ■ — Con. Goldflelds 018 0 018 3 018 0 Keep, it Dark — 050 — Now Alpine (paid) 0 4 9 — '•■_'■ Progress ..;... 012 9 0.13.6 013 3 Koos Goldflolds 010 0 010 3 - . ■•'"■■■■ STOCK EXCHANGE. ■ (By Tcicgraph-Press Assooiation.) ' !'■»'■, •'■' , .■'-. Auckland, October 27. E, B c U h S an n |e S in d c o i n uVd^ be the sjek. ■'■ May Queen, 4s. id. Dixon's Consolidated. 9d. Sylvia, 4s. 2d. ''.- ■ . Waiotahi, As. lOd. ''~.,. '■' ' ' •Progress Mines, 12s. 9d, ' ; . Hauraki, 2s. 4d. ■'. Grown, 6s: Bd. ' ■ Golden Belt (paid), Is. Id. c . ' Tairua Broken Hills, Is. 4d. ".-."•'■ . Talisman, 495. 6d. Waihi, 1595. 6d. '•".''. Waihi Extended, ss. 3d. and ss. sd.' • Grand Junction, 465. 465..3d. ■ Waitara, Is. ■ Tho following business was done at the afternoon call:— ' ..,,.'-.• Now Monowai, Is. lOd. - . Now Sylvia, 4s. 4d. . . ; Old.Alburnia (paid-un), • 2s.'id.' : - Point .Russell, 6d.. ■ Saxon, Is: 3d. ' '..>■■ Waifangi Consolidated, 35.'9 d.. :3s, lOd, : Consolidated Goldflelds, 18s. 6d, . Progress.Mines, 13s. 3d., 13s. .;• : . Old Hauraki, 2b.> ■ . . Seddon, 2d. ' ..-••■ '. Grown, :ssv9d.','is.'lod.' Prido of Waihi, 9d. -"■■'. "' Talisman, 495. 6d. Waihi Extended, ss. 4d. to.ss. Bd. Waihi Grand Junction, 465. 6d. ■. .Now Waitaia (con.), lljd. , Taupiri Coal, 19s. 3d. ■ .. ■ •-.'.". ■..Kauri Timber (con.), 16s. D.5.0., 3a. Id., Dunedln, October 27. Stock .Exchange sales reported:— Golden Bod, .128. 3d., 12s. 6d. ; .Waihi Extended,.ss. . Waihi.Grand Junction, 465. 6d., 465.,.465. ." ;'■■'„. WILBEHFOKOE.REEFS'. M!. '\'(By''Telegraph.—Special Correspondent.) ■''. '■'-;■'.•'■"■.;■ '■ Chrlstehtlrch, October 27. : Mr. J. Howcr, who represents a NoMh Island syndicate interested in a olaim on' the Wilberforco Reofs,; and who was in to*n yesterday, informed a representative of the "Press" that Mr. Leslie Reynolds and himself, who had started for the claim,-had got .as far as Lake Coleridge, but had to return-owing to the snowstorm, of last woek: They intend attempting to reach the claim in about a, fortnight's time. Tho tunnel has 'boon driven 214ft::in. on tho reef. All-the way the.results woro'very satisfactory., The lowest asaay waß over 3oz.,'and.tho highest lloz. 6dwt. totho load. Thoro .iaalrcady. 200 tons'of nuarti in tho paddock awaiting.tho orection of a ten-stamper battery, which it is proposed to instal., :.::•'■■ :'/^/MINING;.NOTES.: ■ .• ": :^ '■ Consolidated Goldflelds of New Zealand.—Dur ; ing 1908 the Consolidated Goldflelds of Nevt-SSea--land seourod :£«00 from realisation of. investments, as against nothing in 1907; .but dividends brought in baroly .JEIOCO, comparing with ovor, £21,0C0, aiid gold recovered. £30.000, as against £49,000. The depreciation allowance has boeh drastically out down; still-the not profit' suffices: to ■' pay only 6 per' - cent., -in contrast with -71 -per cent, for .1907.!-A summary of tho. ■accoilnts ior tho past three years Is appended:— •.:-'.'■.-,. >-:'.'•;. ;,..-, ■■:■■;- ,/ 19C8. , ,-., 19061 O'rosß-.' receipts • .r...,'.:......\.,. ?35,573i'-" 70,686 : 68.085 - ■Expenses-and: taxes :.:;::..,.: 18,970 ;- 35,481 ■'23,448 Depreciati0n.....:;................. 3.372 '•'■ 15,03 15,010 Net- profit ..:......................•.. 13,231 ,19.512 27,627 Dividends ....: ...,........;. .12,119 -18,178 - 12,119 Brought forward :........ 36,681 34,247, 33,739 Carried.:forward .'...:..........!: 36,693 35.581 .34.247, ' Tho'decHno in last year's revenue is due partly to-the fact that the Progress .mines paid no dividend, while only a small return was derived from tho: Company's' Golden Flceco property, whtch was lot on tribute in. August. Tho Wealth of Nations gave is. higher yield than for some time past, 'tho working profit from this area being•: £14,500, or 21s. 6d. per ton. as against £12,300, or 17s. Ud., in 1907. A tube mill has lately been erected. With icspei.t to this mine, the general manager states' that at the end of the year the stopos generally.bore a healthy appearance, - and that development. 1b fully thrco yearsahoad of the battery... ;.:, ' > 'Progress Minos.—With ' a Bmalior quantity'-'of ore crushed and a shrinkage of not leos than 10b; per ton in yield it is' not-surnrising that the Progress Mines of New Zealand was unable to make any distribution in rcspoot of 1908. Indood,' the accounts would hare ■ ehown a.-liiss but for the realisation of part of the company's condor Bhares.in the'-Blackwatcr mlne/i, a net profit of £9500 being derived from-realisa-tion - of investments. This sum exceeds by £3000 tho credit balance added to tho profit and loss carried forward. For the period 1902 to 1907, inclusive, 12J per cent, per annum was paid.' A tabulated comparison of the results of the past, throe years is given below:— ; '':':•. ■:•- ■''"* ■'■: '.'- IPOS- r 1907. '; 1906. Gro3B re'eoipts ..v......;....:... 71,423 ■', 98,264.- 1C3.7C2' Expenses and taxes. 58,233 ' 63,957 68.801 -Depreciation and ;debt ...- 6,633. : ' 7,679 : 10,458 Net. profit. „.... 6,557 . 20,628 ■ 34,443 Dlvidonds ■........'......;.:.'..- ...: -■". ; 34,375 . 34.575 Brought forward 21.684 •'. 29,331' 29,263 Carried forward .................. 28,141... 21,584 .29,331 Ore'crushed'■(tons) ;... '48.EC0' 1 : 55.305- ■' 59.1(0 ■ : Yield per ton ..:,....; 25/3 . 35/1- 31/6 ■ ■■'■' Cost, per t0n..'... :... 21/10. . 20/11 ■.' 17/11 'Profit per. ton ......;.....:.,' 3/5 ' -14/2. 16/7 Ore; reserves .-(tons). f. , 77,883, 88.3C0 No estimate of ore reserves is given in.thoilttteßt report "owing to the extraordinary manner in which the reef ocenrs bolow:No. 10 level, au-.l also because it-is impossible to tell tho value of the nuartz until it.is broken." : The manager, how-. Over.' ihtimatM , that the development carried out was attended with disappointing results, the bulk of the, quartz, exposed being below the payable limit in value. Still, there Is considered to bo sufficient material to keep tho mill running for twelve months. Work.should shortly be commenced by tho smelter put-up to deal ■with the large accumulations of pyritlo slimes, also the concentrates made monthly—which latter product has hitherto been treated by the ohlorihation < process. :'.