MINING NEWS.

Dominion, Volume 3, Issue 878, 26 July 1910, Page 10

MINING NEWS.

N ~ : WELLINGTON SHAItEMARKET. ■ Waihi and Waihi Grand Junctions .were much weaker yesterday, sales of tho former being registered at £7 17s. 6d., while the latter were quoted- at buyers £1 19s. 6d. Boss Goldfields rose -rapidly from IPs. 9d. to 12s. The return from this mine was 88oz. from 1788 trucks for six days' work. Tho sales recorded yesterday were as under:— • New Sylvia, 4s. Id. (first call); 4s, Id. (third colli. ..■■■. ■ Tairua Broken Hills, Is.' 7d. (first call). Talisman, 535. 3d. (second call);- 535. 3d. (third call): ■ ,

Waihi, £7 18s. 6d. (first call); £7 176. 6d„ £7 17s. 6d., £7 17s. 6d. (second call). ' Waitangi, 2s. 2d. (second call). Consolidated Goldfields., £1 2s: 3d. (first call); £1 2s. 3d. (third call). Boss Goldfields, 10s. 9d„ Us.,- Us. Hit, lis. 3d...1ie.-3d., Us. 3d., Us. 3d., Us. 3d., lie. 3a. (first call); lis. 6d., Us. 90., 12s. (second call); Us. 9d.; 12s. (third call). QUOTATIONS. Buyers. Sellers. Sale.. £s-d. £e.d. £«.d. Dominion :... — ■ 0 o 2 — Karanganake ... . — ■ 0 0 2 — Kuranui Caledon'n 0 17 0 19 — May Queen — 0 4 4 — Mountain. King — 0 10 —' N.Z. Crown 0 4 4 — — New Sylvia 1141042 041 Old Hauraki' 0 4 10 0 5 0 — Saxon. 0 17 0 19 — Tairua Broken Hills 0 16 o'l 9 0 I' 7 Talisman 2-13.0 2 13 6 2 13 3 Waihi 718 - 0 8 0 0 717 6 Waihi Beefs — 0 6 0 — Waihi G'd Junct'n 119.6 2 0 0 — Waitangi 022 0 2 3' 022 Blackwater ■ ...'. 1 14' 6 -115 6 — Con. Goldfields 123 13 0 12. 3 New Big River .... 2 S .0 • -- — Progress ...,-—. o 15. b ' .— Ross Goldfields 01110 '0120 012 0 STOCK EXCHANGE. 1 (By Telegraph—Press Association.) Auckland, July 25. Business done on 'Change this morning :— May Queen. 4s. 4d. ■-.' . - Waiotahl, 4s. 1d... Ross, Us.-to Us. 9d. • • Old Hautaki, -4s. lid. -I Crown, 4s. 6d., options ditto; ls.-4d.-- - - Talisman, 535. 9d.' / -Waihi, £7 13s. 6d. to £8. ■ Grand Junctions, 41s. to 40s. 6d. . Taranaki Petroleum, 20s. 3d. (?) Auckland Gas, 70s. Gisbormi Gas, 575. 6d. Marks Turbine, 255. D.S.C., 3s. Tho following business was done at the afternoon call to-day:— Boss Goldfields, Us. Bd., 125., 12s. 3d.. 125., lis. lid. ' Champion, 2Sd. New Zealand Crown .(options),, is. 6d. Waihi Extended, 3s. 3d. . . ■ Mountain King (p.u.), 10Jd. Waihi Grand. Junctions, 40s. 9d. May Queen, 4s. 4d., 4s. 3d. Waihi, 161s. 6d. Waiotahi, 4s.' Sason, Is. Bd. ' - Golden Belt (con.), 2d. Old Hauraki, 4s. lOd. . New Zealand Crown, 4s. Bd. Talisman Consolidated, 535. 6d. New ' Zealand Insurance, 81s. Wilson's Cement (ord.); 435. 9d. .Wiseman,.Limited (pref.),.2ls.. 6d. > Christchurch', Julj 25 " At the noon call to-day tho following sale was made on 'Change:— - Boss Goldfields, Its. 5d.. ' The-following were .reported:—New Zealand. Shipping, £10 Is.' '6d.; Taupiri Coal, 20s. 9d. 1 ' Dunedin, July 25. Stock Exchange sales:— Waihi Grand Junction (forward delivery), £2 Us. 3d. 6 Sales reported: Waihi Grand Junction, £2 os. Gd., £2 os. 3d.; West port Coal, £6 14s. 6d.; New Zealand Paper, £1 2s. 6(1.; Talisman, £2 13s. 6d.; Waihi, £7 18s.; National Mortgage (London registered), £3 is.' 3d. Tho following aro the Stock Exchange quotations:— Dredging Stocks—Blackwater, buyers 3s. 9d., sellers - 4s. 6d.; Electric, Ecllers 45.; i Golden Bed, buyers £1 Ob, 6d„ sellers £1

25.; Hartley and Hiley, sellers £1; Koputai, sellers £1 25.; Manuherikia, sellers 135.; Motown Creek, buyers 75.; Kisc and Shine, buyers .£2 2s. 6d.; Rising' Sun, buyers £2 Is. 9d., sellers £2 35.; Sailor's Bend, buyers ss. Mining Stocks-Ross Goldfields, buyers 10s. 9d„ sellers 125.; Consolidated Goldfields, buyers £1 Is. 6d.', sellers £1 2s. 9d.; Progress Mines of .New Zealand, sellers 15s. 6d.; May Queen, sellers 4s. 5d.; NewSylvia, buyers 45.; Old Hauraki, buyers 4s. 9d., sellers 55.; Talisman Consolidated, buyers £2 135.; .sellers £2, 13s. 6d.; Waihi. buyers £7 17s. 6d., sellers £8; Waihi Extended, sellers 3s. 4d.; Waihi Grand Junction, buyers £2, sellers £2 Os. 3d. Investment Stocks-National Hank, sellers £6 Is.; Bank of Now Zealand, buyers £10 155.; National Insurance, buyers £1 lis. 3d.; Standard Insurance, buyers £1 55.; Wostport-Stockton, buyers 65., sellers 6s. 6d.; New Zealand Coal and Oil, sellers 6s. 3d.; Perpetual Trustees Co., buvers 19s. 9d.; Jlilburn Lime and Cement (£l), sellers £2; Mosgiel Woollen Factory, buyers £3 3s. 6d.; New Zealand Paper Mills, buyers £1 2s. 3d.,'sellers £1 2s. 6d.; New Zealand Portland Cement, biiyoVs £1 18s. 6d., sellers £2; Donaghy's Hope and Twine, buyers £1 3s. 6(1., sellers £l?4s. 6d.; Kauri Timber (ord.), buyers 17s.

TALISMAN CONSOLIDATED. The report of Talisman Consolidated, Ltd., for the year ended February 28, 1910, states that shareholders have been kept fully informed as to the result of development work. Since the end of the year under review further developments of interest have, taken place. At February 28, 1909, tile ore actually blocked out was estimated at 51,459 tons, valued at £5 6s. 9d. per ton. During the year 44,800 tons have been extracted, and a further 29,079 tons blocked out, making a balance at February 28, 1910, of 35,738 tons, of an estimated value of £5 15s. 3d. per ton. This estimate is only for ore actually blocked out, and does not take, into account the ore par-, tially blocked out, the valuable ore developed- at various points during the year under review, or the satisfactory discoveries since made, 'which add materially to the ore reserves in the mine and which ensure the prospects of. increased results for some' timo to come; During the year £35,473, has been expended on various additions to the machinery and-equipment at the mine; including the erection of a new chamber pump' at No. 13 level, having a capacity of .20,000 gallons per hour; eight air agitators for use in connection with the slimes treatment, three tube mills, and a large part of the power plant and, equipment for the Woodstock shaft. A' new smelting room and assay office have also been erected and equipped. The com-' pany's operations for the year show a surplus of £104,415. After making a provision of £8486 for income tax and colonial tax, .the net profit carried to the balance-sheet is £95,929, making, together with the sum brought forward from the previous year,

and after deducting the bonus declared at the last annual general meeting of Is. per. share, paid on August 25, 19U9, a total of £143,177. Tho dividends, free of income-tax and colonial tax, paid during the year represent 6s. ]>or share and leave a balance of £53,177. This accrued profit would have enabled the directors to declare a cash bonus dividend, as was done last year, and the funds not been temporarily cmployed in the payment for machinery, as stated above, and to the incidental capital expenditure in connection with the Woodstock section development scheme. In the meantime the directors,feel justified in recommending a bonus dividend of 2s. to meet the call to be made on June 21, thus mailing the shares fully paid up. This will reduce the balance to be carried forward to £23,177. As outlined in the circular issued to the on May 21, 1910, a proposal will he submitted at an extraordinary general meeting, to be held on August 24 next, to increase the capital of the company by an issue of 45,000 additional ordinary shares of £1 each, to be offered to the shareholders pro rata, at a premium of ss. per share, payable as to 10s. per share, on application (including tho premium of 55.), and the balance in three equal instalments of ss. per share at periods of three, six and nine months thereafter respectively. The shareholders will thus have the right to apply for and have allotted to themselves or their nominees three new issue shares in respect of every 20 shares held by them. The directors are satisfied that the additional working capital to ho so provided will cna,ble the company to maintain and increase its present position. - . DREDGING. (By Telegraph-Press Association.) . Reefton, July 25. Reofton, Dredging: 320z. for 123 hours.