MINING NEWS.

Dominion, Volume 3, Issue 894, 13 August 1910, Page 8

MINING NEWS.

WELLINGTON SHAEE. MAEKET. Collapse in Eoss Goldflelds shares was the outstanding feature of the market yesterday. The news from the mine was not reassuring, but the report that additional capital will be necessary, and that the chairman of the company was vacating his position owing (it was stated) to his not now possessing the necessary number of shares to qualify for a scat on the directorate was the more depressing. On Thursday sales were made up to 7s. 6d., and yesterday morning a transaction was recorded at 6s. 6d. At noon tho shares dropped to 45., but in. the afternoon tho operations of the "shorts" to cover sales forced the price up to 4s. 6d. Outside of Eoss Goldfields very little business was done. The sales recorded were as under:— Talisman, 555. 6d. (second call). Waihi Grand Junction, 395. 6d. (first call). Eoss Goldfields, 7s. 6d., 7b. 4Jd., 7s. 3d., 7s. 2d., 7s. Id., 7s. 6d., 6s. 6d. (first call), 45., 45., 45., 4s. (second call), 45.; 4s. 4d., 4s. 3d., 4s. 6d., 4s. 6d. (third call). ' QUOTATIONS. ' " Buyers; Sellers.' Sales. £s. d. \£s.d. £s.d.' Dominion 0 0 1J 0 0 3 . — Kuranui Caled'n ... — 019 — May Queen 0 310 0 4 1 — New' Sylvia ....: 0 3 11 0 4 1 . - : Old Hanraki 0 4 9' 0 4 10 . ' -' Saxon — 0 18 — Tairua Broken Hills 0 1 9 0 110 — Talisman ...: 2 15 3 216 0 215 6 Waihi .'. 8 10 8 3 6 - Waihi G'd Junct'n 118 6 119 0 119 6 Waitangi — 0 2 4 - Blackwatcr ..: - 114 3 — Con. Goldfields - 1 2 0 - New Big Eiver — . 2 IS 0 — Progress' 0 12 6 013 3 — Boss Goldflelds 0 4 6 0 4 7 0 4 6 ' EOSS GOLDFIBLDS CO. ■'■ — ■ , . STATEMENT BY DE. NEELEY. (By Telctrrttpn.—Ptcbs Association.) Christchurch, August 12. Dr. Neeley, formerly chairman of directOTS of the Eoss Goldfields Company, says that the statement telegraphed from Holutika that he had resigned his position in

tho company because the number of his shares had fallen below tho number required for qualification as a, director, is incorrect, ilo has resigned because tho domauds mado upon his timo were so groat that it was seriously interfering with liis private affairs. During the time that he was chairman ho had attended meetings at Hokitika once a month, which had consumed about one weck'e time each trip. No one connected with the company had done more for it or had made greater sacrifices than he had. He was one of the guarantors to tho bank for £3000, and only tho previoue day he had sent a cheque for over £200 to help to defray the company's expenses until the position could be put before tho shareholders. In addition, the company owed him about £40-for actual moneys paid out of pocket.

STOCK EXCHANGE. (By Teleri-ash-l'rese Association.! Auckland, August 12. The following business was done at the 3.15 p.m. call to-day:— . May Queen, 3s. lid. Saxon, Is. sd. Success, Id. Dominion (con.), 2d. Talisman Consolidated, Ms.. AVaihi Extended, 3s. Waiotahi, 3s. 7(1. Victoria, Is. 2d. New Zealand Crown, 4s. 9d. Waihi, 16os. Entricau, Ltd.' (pref.), 20s. . Christchurch, August 12. On the Canterbury Stock Exchange today the following sales were reported:— Ohristchurch Meat Co. (£lO paid), £13 10s. Kaiapoi Woollen Co., £5. Booth, Macdonald, and Co., £1. N.Z. Drug Co., £2 lls. 6d. Whiteombe and Tombs, £11 ss. (paids). Manning and Co., £4. Boss Goldfields, 7s. 4Jd., 6s. 9d., 6s. 6d. Dunedln, August 12. Stock Exchange sales:— Eoss Goldflelds, 55., ss. 3d. May. Queen (forward delivery), 4s. 3Jd. i Sales reported :—Waihi Grand Junction, £2 os. 6d., £1 186. 9d.; Eoss Goldflolds. Bs.; Tairua Broken Hills, Is. 9d.; Mosgiel Woollen, £3 ss. WAIHI GUAND JUNCTION. By Telegraph—Press Association—Copyright. London, August 11. Stock Exchange quotations :—Waihi Grand Junction, buyers 3Es. 9d.. sellers 40s. OLD HAUEAKI CO. The Wellington Stock Exchange yesterday received the following telegram from tho Old Hauraki .G.M. Company:—"solb. picked .stone seaward stope 300 ft. level, 101b. No. 1 stop* seaward, 400 ft level." DEEDGOtG. (By Telcsraph—Press Association.! Dunedln, August 12.. Dredging returns:—Manuherikia, 920z.; Waikaia, 90oz. 12dwt.; Electrio No. 11, 61oz. lOdwt.; Electric. No. I, 390z. 6dwt.; 909 Dredge, 380z.; Koputai, 30oz. 7dwt.; Mystery Flat, 270z. sdwt.: , Masterton, 250z. lOdwt.; Muddy Oreek, 200z.9dwt.; Lady Eoxburgh, 190z.; Central Ch'arlton, 14oz. 2dwt. Reports of Wool, Skin!, and Hidee Sales will be found on page 13 of this issue.