MINING NEWS.

Dominion, Volume 3, Issue 830, 31 May 1910, Page 8

MINING NEWS.

WELLINGTON SHAREJIAKKKT. Northern mining shares were quiet and slow. Waihis sold at £8 9s. Gd., and Talismans were quiet at £2 12s. 3d. Hoss Goldfields shares were in good demand, and sold up to 16s. The day's sales were a3 'old'Hauraki, 4s. 4d., 4s. sd. (third call). W'aihi, £8 9s. 6d. (third call). Ross GoMfields, 145., 14s. 3d., 14s. 6d., 15s. (first call); 14s. ?d., 14s. 9d., 155., 14s. 9d. (second call); 155., 165., 16s. (third call). QUOTATIONS. Buyers. Sellera. Sales. £s d. £s. d. £s. d. Kuranui Calodon'n 0 17 0 19 - May Queen 0 4 5 — — Maorilaiid 0 0 8 - - New Sylvia, — 0 3 11 — Old Hauraki 0'44 046 045 Saxon 0 19 0 110 Talisman 212 3 212 6 - Waihi 8 90 810 0 896 TVaihi G'd Junct'n 111 0 - - Waitangi 02 5 02 7 - Watchman 0 110 - — Ross Goldfields 016 0 016 3 010 0 STOCK. EXCHANGE. (By Telegraph—Press Association.) Auckland, May 30. Business done on 'Change this morning: Sylvia, 3s. 10d., 3s. 9d. Watchman, 2s. Boss Goldfields, 14s. 6d., 16s. Hauraki, 4s. 5d., 4s. 6d. .• Maorilaiid, od., B>d. Talisman, 535., 535. 3d. Waihi, £3 IZs. Taupiri Coal, 19s. 9d. The following business was done at the afternoon call to-day:— May Queen, 4s. 6d. Mount Zechan, Bd. Ross Goldfields, 16s. Haairaki Reefs (p.u.), Is. 2d. . Maoriland, Bid. Waihi Grand Junction, 31b. 9d. Talisman Consolidated, 535. buncdln, May 30. Stock Exchange sales: Golden Bed, £1 os. 6d.; Old Hauraki, 4s. s*d. Sales reported: Waihi, £8 9s. 6d.; Waihi Grand Junction, £1 11s 9d. Duncdin, May 30. Stock Exchange quotations:—Dredging stocks: Blackwater, buyers Is. 3d., sellers 4s. 3d.; Electric, sellers 3s. 6d.; Golden Bed, buyers £l'os. 3d., sellers £1 Os. 6d.; Island Block, buyers 2s. 6d.; Mannherikia, sellers 155.; New Roxburgh Jubilee, sellers 45.; Pactolus, sellers 65.; Rise and Shine, sellers £2 2s. Mining stocks: Ross Goldfields, buyers 145.; Muddy Terrace, buyers £1 55., sellers £1 7s. 9d.; Consolidated Goldnelds, sellers £1 1?.; May Queen, buyers 4s. 3d., sellers 4s. 6d.; New Sylvia, buyers 3s. 6d., sellers 45.; New Zealand Crowns, sellers 4s. 9d.'; Old Haurakis, buyers 4s. 4d., sellers, 4s. 6d.; Talisman Consolidated, buyers £2 125., sellers £2 12s. 9d.; Waihi, buyers £B'Bs. 6d., sellers £B 10s.; Waihiflrand Junction, buyers £1 lls. 3d., sellers £1 12s. Investment stocks: National Insurance, buyers .£1 Bs. 6d.; Standard Insurance, buyers £1 3s. 6d.; U.S.S. Co., buyers £1 135.; New Zealand Drug Company (£2), buyers £2 73. 6d., sellers £2 9s. 6d.; New Zealand Paper Mills, buyers £1 2s. WAIHI SHARES IN LONDON. By Telczraph—Press Association—Copyright London, May 29. Sharemarkot quotations include: Waihi Goldmining, buyers £8 Bs. 9d., sellers £8 lls. 3d.; Junction, buyers 31s. 3d., sellers 335. 9d. ROSS GOLDFIELDS. The following telestram was received by the Wellington Stock Exchange yesterday from the chairman of directors of the Ross Goldfields Company:—Mr. Grimmond and Mi'. Evcnden, directors, Mr. Dinnie, managing engineer, Mr. Moye, mine manager, and myself spent five hours yesterday . exploring old . workings on seventh level;, eighteen dishes' washed from centre of eighteen faces yielded 2dwt. and 20 grains gold, valu lls.;'one dish from one face yielded 15 grains, value, 2s. 5Jd.; weighed ■ and valued by .bank manager. Several of the best faces, being broken down, were not sampled;, workings generally are in excellent: condition.■ . MAORILAND. Prom the Maoriland Goldmining Company, Auckland, the following wire was received:—Following . wire just received from mine manager:- Cut reef in low level; has every appearance of large body of stone; will take a few days to determine its value; large volume of water coming from face. - RIMU GOLDI'IELDS. THE WATER SUPPLY QUESTION. (By Telegraph—Press Association.) ■ Hok'l.tlka, May 30. The question of an adequate supply of water to; work the Rimu goldflclds has at last been practically settled. When the Prime Minister visited this district he was interviewed in regard to the amalgaa:.ition of three water rights of 40 heads each which had previously, been granted for the purpose. Owing to the long distance over which it is necessary to carry the water, it was found that unless th?so rights were amalgamated so as to bvtng the supply through one channel the cost would have been too great to underiako the scheme. Sir Joseph Ward telegraphed to-day, after conferring, with the Minister for Mines on the matter, that it would bo necessary to surrender the individual licenses and make fresli applications to the warden for one right of 120 heads. Sir Joseph Ward, in the course of his telegram, stated that if this suggestion was acted upon, the Hon. R. M'Kcuzio would consent to -the fresh license being granted. The Prime Minister pointed out that there is no power under ..the Act for an amalgamation, and there is no power to enable tho Governor by Order-in-.Council to bring in Clause 93 of the mining regulations, as were the Government to do so it would be illegal. When the license for the 120 heads' has been granted by the warden, it is proposed to form a company with a capita; of £250,000 to undertake the bringing in of tho water and providing the necessary appliances to successfully work what has for many years been an almost abandoned auriferous field. Tho negotiations with London financiers in regard to the necessary capital are well advanced, and the promoters are assured that the prospects of raising the largo amount required are particularly bright. . ' ■