MINING NEWS.

Dominion, Volume 3, Issue 856, 30 June 1910, Page 8

MINING NEWS.

WELLINGTON SHATCEMAItKET. Talismans Itept firm, yesterday at 525., although very little business was done. Waihis sold up to £8 3s. Junctions eased a little, and at the dose or llie day were wanted at 395. 9d. Jtoss Goldliclds advanced steadily to 145., and then relapsed to 13s. 3d. The. day's sales were as under:Kurnnul Caledonian, Is. Sd. (second call), is. Bd. (third call). Old Haiiriki, 4s. 7d. (first call). Saxon, Is. Bd. (third call). Tairua Monarch, 23d. (first call). Talisman, 525. (Inst mil!. Waihi, £8 35., £8 3s. (first call). Waihi Extended, 3s. Sd. (first call). Wallil Grand Junction, 435. 3d. (firstcall). Ross Goldfields. Us., 13s. 9d. (second call); 13s. 6d., 13s. 7Jd., 13s. 9d., 145., 13s. 3d. (third call). QUOTATIONS Piiyen. Sellers. Hale*. £ s. d. £ s. d. £ s. d. H.iuraki Beefs 0 10 0 11 - Koraata. 0 0 4 — — Kiiranui Caledonian 018 019 018 May Queen 0 4 0 0 4 2 - Mainland 0 0 5 - - Mountain King .... 0 12 0 13 - New Sylvia 0 3 8 0 3 9 - Old llauraki 0 4 7 0 4 8 0 4 7 Saxon 0 10 0 19 0 18 Tairua.Broken Hills 0 1 8 0 1 10 — Talisman 2 11 6 2 12 3 2 12 0 Tairua, Monarch ... — — 0 0 23 Waihi' 8 2 6 8 3 0 8 3 0 ..Waihi Extended ... — — 0 5 6

£u- d. £s. d. £a. a. Waihi G'd Junct'n 119 0 206 233 Watchman — 0 2 0 — Hlackwalor - 1 12 6 — Con. Goldlields ... - 110 - New Dig liiver 2 5 0 — — Koss Goldlields 013 0 013 3 013 3 STOCK EXCHANGE. (Bs Telegraph—Press Association.! Auckland, June 92. Business dono on 'Change this morning :— Kuranui, Is. Bd. -Alay Queen, 4s. 2d. Sylvia, 3s. 9d. Alburnia, sd. Victoria. Is. 2d. Waiotahi, hs. HI. Black Water, 31s. 9d. Koss, 13s. to 14s. llauraki Beefs '.eon.), Is. Id. Old llauraki, 4s. Bd. Tairua. Broken Hills. Is. Bd., Is. 9d. Waihi. .£8 ss. Od., £8 ss. Grand Junction. 425. 6d. to 40s. National Jlanu, £6 2s. Tho following business was done at the afternoon call to-day:— ifauraki Beefs (eon.), Is. Old llauraki, 4s. 8(1. Golden licit {con.), 2d. Tai-u:i Broken Bills, Is. Bd. Waihi, "1655. Waihi Beefs Consolidated, ss. lid., 6s. Waihi Extended, 3s. 4d. Waihi Grand Junction. 40s. 6(1.. 40s. 9d. Koss Goldfields. 13s. 6d., 13s. 3d. Taupiri Coal, 20s. Auckland Cas (£1), 70s. Dunedin, June 29. Stock Exchange sales:— Waihi, £8 3s. 9d. Waihi Grand Junction, £2 Is. (three parcels), £1 19s. 6t1., and for forward delivery, £2 2s. 3d. and £2 2s. 6d. Sales reported:— Waihi Grand Junction, £2 3s. 9d., £2 4s. (eight weeks' delivery), £2 2s. 9d. (eight weeks). Old llauraki. 4s. 7{d. Mosgiel Woollen, £3 3s. New Zealand Paper Hills, £1 2b. 6d. Westport Coal, £6 Us. BOSS GOLDFIELDS. THE DELATED BETUENS. CHAIRItAN'S EXPLANATION. At the request of the Wellington Stock Exchange wo publish the following letter from the chairman of the above company:— (Copy.) ChristchnrcU, 28th June, 1910. Chairman Stock Exchange, Wellington. Dear Sir.-Followmg ™y wire to you today, I should like to say the reason tho return of the first wash-up of Boss Goldfields was not published sooner was that I d'd not know wiihin some ounces of tho amount until the telegraph office was closed,' nor did I know the exact amount until about 11 o'clock p.m., pn tho 22nd inst., when a ticket was handed me, made out by tho bank, showing the number of ounces aud value. I might havo known the exact amount before this hour, but not before the telegraph office closed. I decided not to publish the returns locally until I could get a signed statement from the mine manager, and could send it through to the large centres-tins was only fair to the bulk of the shareholders. To have tried to got the news through, by telephone and telegraph would have resulted in publishing it locally some time before it would have got to the centres. Within two minutes from tho time the mine manager had given me the signed statement It was in tho hands of tho postmaster for transmission. Wo did not begin the washing up until about 12 o'clock, and tho mine manager, another director, and myself, did without lunch until nearly four o'clock, hoping to complete before five, but found it impossible, and when wo knocked off it was estimated that probably about lOoz. remained to be treated. This was too largo an amount to guess at when giving the returns, so left it until it could bo prol>crly washed up. It lias been intimated (by Interested pcomc) that, I might have profited by a knowledge of the returns. This i 6 untrue and unjust, and I enclose a note to the postmaster at Boss, which I trust in fairness to me you will use, and publish the results. Tho delay in the returns has been made most of bv people who had sold heavily forward and wished to stampede tho shareholders, which they have apparently succeeded in doing, and for which I am heartily sorry, but in no way responsible. I{e the finances of. tho company: 1 can only say that after the wash-up on Saturday. 25th- inst., by Instructions ,from the directors, 1 waited on the manager of the Bailk of New Zealand, and Informed him that not only would the company not require a further advaueo above tho £3000 overdraft already granted but not then fully used, but that tho directors were prepared to pay ott' the £3000 any time tho bank might wish. This can bo verified by referring the matter to tho bank, and which you have my permission to do; and. In addition to the above, the directors are prepared to advance another £2030 at least, should tho company require it, and In such a way that tho company's interests will bo absolutely safeguarded until the company can make other arrangements should it wish to do so. It is a matter on record that I myself havo offered to advance £2500. This, with the returns from tho present faces now being worked (only about four or five) will, In our opinion, keep tho company going Indefinitely, and when more of the present faces (some 18) are worked we should expect a profit above working expenses; and when new faces aro gradually added the company ought to prove a profitablo investment. Already the mine manager informs me that one of the new faces leading straight out into the fiat Is Improving, and ho considers this a most hopeful Indication; and this is not in the direction of tho other old workings where we havo every reason to expect excellent returns. In conclusion, let me say that I consider the sudden and severe drop in tho price of shares unwarranted by the conditions generally pertaining to the mine. However, time wiil prove whether I am right or wrong. You are at liberty to •'tiniish any part, or all, of this letter.— Yours faithfully, (Signed) N. A. NEELEY, Chairman Boss Goldfields. Ltd. (Copy.) 28th June, 1910. Postmaster, Koss. Dear Sir—Von are hereby requested to furnish a copy of all telegrams sent by mo from Ross on and after the 22nd inst., and up to (late, to the bearer of this note, or to the chairman of the Wellington Stock Exchange.—Yours faithfully. (Signed) N. A. NEELEY. Chairman Boss Goldlields. Ltd.

TALISMAN CONSOLIDATED. Talisman Consolidated.—The mine superintendent reports to May 7 as follows:— No. 11 level: South drive (Welcome reef)— Advanced 22ft., total 244 ft. Width of reef, 42in.; values low. North drive (Welcome rcefl-Advanccd 21ft., total 59ft. Width of reef, 561n.; values low. Stoning—The valuta from slopes oil' No. 12 rise average £4 4s. 6d. Tons sent to mill, 115. No. 12 level: No. 5 crosscut-Advanced 43ft., total 199 ft. No change to repoi-t. Intermediate level, off No. 12 winze—Advanced northward 36 ft., total 151 ft. Width of reel. S6ii>.; assays average 3s. fid. Stoping-Tho values from stopes off No. 12 winze average 13s. Tons sent, to mill, 150. The assays from Kast Vein stopes average 12s. Tons sent to mill, 435. No. 13 level: South driveAdvanced 21ft., total 958 Ft.; width of reef 36in.; assays average 75.; reef in face, small and split. North drive—Advanced 10ft.. total 450 ft.; width of reef. 36in.average of assays, 7s. 4d. No. 4 crosscutAdvanced 22ft.. total 191 ft.; ground shows no change. The north drive, off No. 4 crosscut, has been extended 55ft.; total 155 ft.; width of rceT 36in.; average of assays. 3s. 4(1. No. 6 winze—Advanced 7ft. total 66ft.; width of reef, 48in.; values average £12 13s. No. 12 winze-Advanced •Jft., total IC-lft.: width of reef 84in.; as=avs average £12 12s. 6d. No. 15 ri«c—\dvanccd 23ft.. total 55ft.; width of reef 42in ■ average of assays. £7 19s. 6d. Tho values from stopes off No. 12 rise average £4 12s. 4d.; tons sent to mill. 43a'