MINING NEWS.

Dominion, Volume 4, Issue 1206, 15 August 1911, Page 8

MINING NEWS.

-.WELLINGTON SHABE MAEKET. The fliill tone of last week has been carried over to this, and there waa very little doing in mining shares yesterday. New Sylvius, improved a- little in the mornins. but there was a relapse in tho afternoon. The rales recorded yesterday were as under:— New Sylvia,, 3s. (second call); 2s. lid. (third call). Talisman, 51s. 9d. (third call). Waihi, 60s. (first call). The buying and sdlinc quotations were as under:— Buyers. Sellers. £ s. d. £ s. d.

STOCK EXCHANGE. (By Telegraph.—Press Association.) Auckland, August"l 4. Busia*;s done:— Kuranui Caledonian, Is. 3d. New Sylvia, 2s. lid., 3s. Moanatainri, 6}d. Saxon, 2s. sd. Watchman, Is; lOd. Hauraki Reef 3 (con.), Is. 5d., Is. 4d. Kapansa, (con.), 4d. Golden Cross, Is. Tairua Mines, Is. Id., Is. Waihi-, £3 Os. 6d., £3 Is. Grand Junction, .€1 7s. 3d., £1 7s. 6d. N.Z. Portland Cement, £1 13s. 6d. Business was a little- brighter on the Stock Exchange to-day in mining lines. Waihis wore firmer, sales being made at from £3 os. 6d. to £3 Is. l-o £3 Cs. 6d., with further buyers at £3 Os. 6d., and sellers at £3 1?. Waihi. Grand Junctions changed hands at £1 7s. 3d. and £1 7s. 6d., moTo being on offer at the latter price, with buyers at £1 7s. 3d. In investment stock* N.Z. Portland Cements were sold nt £1 13?. 6d. Talisman shares wero on offer at £2 125., buyers quoting £2 10s. 9d. Duncdin, Aupnst 14. Sales reported on the Exchange to-day t; ere N.Z. Drug, £2 lis. Sailor's Bend, 7s. The following arc Stock Exchn.nge quotalions :— Dredcinc stocks: Electric, sellers 3s. 2d.: No-Town Creek,' buyers ss. 6d.: Sailor's Bend, buyers 6s. 6d„ sellers 7s. 6d. Mininjj stocks: Kuranui Caledonian, sellers Is. 4d,; Saxon, buyers 2?. <d.; Mnv Queen, buyers 2s. 3d.; New Sylvia, buyers 2s. Bd.. sellers 35.; Old Hauraki, sellers 2s. 2d.; Waitnnsi. buyei* 2s. 10d.; Tasmanian Copper, buyers ss. 10d„ rtllcr?. 6s. Id.; Talisman Consolidated, sellers £2 12s. Gd.; Waihi. buyers £3: Waihi Grand Junction, buvers £1 7s. Id., sellers £1 7s. 6d. Investment stock?: National Insurance, buyers £1 175.: Standard Insurance, buyers £1 lis. 6d., sellers £1 13s. 6d.; Union Sten'n Ship Co.. buyers £2 Is. 6d„ sellers £2 ?,$. 6*3.: West port Goal Co., pollers £1 9s. 6d.: Milburn Lime and Cement (£1), buyers £2: New Zealand Drtf/ Co. (C2K buyers £2 10s.: M'Lcod's Soap, buyer:} £14 IPs.

CONSOLIDATED GOLDFIELDS. The report of the Consolidated Goldficlds of New Zealand, Ltd., for 1910, states that (luring tho year the revenue of the company may lie summarised as follows:— Gold won from the Wealth o! Nations, £36.315; gold won from the Golden Flecce and received from trilniters, .£2155: dividends on investments, £21,338, and rent, interest, and sundry receipts, .£1358, making a total of £01,169. Expenditure in Now Zealand and London on mining and milling anil general administration amounted to £23,284, leaving a gross profit of £37.884. This mm. added to the balance of £45,9E6 from the preceding year, gives a total ot £85,671. out of which £12.160 ha.= been written oil' for depreciation of plant, macliinerv, development. and investments, £601 loss mi realisation of investments, and £9-15 for income-tax, leaving a balance of £70.164. wliirh has been appropriated as follows:— Dividends (Sos. 12 and 13). £24.237. Tile balance cnrrlod forward amounts to £4.v 926. Developments at the mine liave re-

rcntly been sufficiently promising to warrnnt the erection of an additional fifteen stamps to the mill; thtfc fctartcd work on June 1. - IMiOGIiESS MIXES. The report of the Progress Minos of New Zealand, Ltd., for 1910 states that the revenue during the year may be summarised as follow?:—Tho sum of .£73,513 was realised from gold. This amount, together with £13,019 dividends on investments, and £160 received for interest, etc.. makes the total ero.>s revenue for the year £86,701, an increase over the previous year of £27,901. The expenditure in New Zealand and London on mining and mi'llir/r and general expenses amounted to £75,012. as compareo with £50,242 for 1909, or nr» increase of £2*!,769, and leavinsr a profit of £11,688, in increase over 19C9 of £3131. This sum, added to the balance of .C 12.495 brought forward from the preeedil:.? yeir.' gives a total of £24,184. out of which £5373 lias heen written oil' as expended on shaft pinking and development. £<'404 for depreciation on plant and buildings, £692 for rates a.nd taxes in New Zealand, and £1251 for income-tax, leaving n balance of £12,463. which has been appropriated as follows:—Dividend No. 21. £10,312. The balance .carried forward amounts to £2150. During the year the development carried out consisted of 2619 ft.. composed of 1931 ft. of driving and crosscutting, and 688 ft. of raising and sinking. The company's interest in the Black water Mines, Ltd., consists of 86,795 shares, taken into the balance-sheet nt post price. In September last Mr. E. W. Spencer tendered his resignation as general manager of the company. Subsequently the directors approached Mr. A. Winter Evans, assistant general manager at the Simmer Deep Miiie, and he has accepted the vacant port. BLACKWATER MINES.

The report of the Blackwater Mines, Ltd., for 1910, states that tho revenue during the year may be summarised ac follows:— Tho sum of £91,253 was realised from gold. This amount, together with £290 for rent and sundry receipts in New Zealand, and £651 received for interest, makes a total gross revenue for the year of £92,180. The expenditure in New Zealand and London on mining, milling, and general expenses amounted to £36,708. The sum of £1843 has been written off for # depreciation of plant, machinery, buildings, etc., £959 for gold reserve. £10.C<!0 for development and prospecting, and rates paid Zealand) amounted to £2554, leaving a balance carried to balance-sheet of £39,298. To this the sum brought forward from 19C9, amounting to £17,610, has to bo added, making a total of £56,908, which has been appropriated a3 follows.—Dividends (No*. 2 and 3), £37,493. The balance carried forward amounts to £19,409. For tho current year a dividend (No. 4) of Is. 6d. per sharo- (7J per cent.;, free of income-tax, has been declared. Dim ing the year 39,192 tons of ore were crushed, yielding £90,372. or £2 6?.*1.41d. per ton. The working costs were £56,505, or 18s. 7.55 d. per ton, leaving a <rross working profit of £53.866, o? £1 7s. 5.86 d. per ton. Good progress has continued to be made with the development and equipment of the mine, which continues to open up i-n a satisfactory manner. The main shaft was sunk during the year a further distance of 142 ft. to a total of 665 ft., the reef being intersected in the crosscut to the No. 4 level at a distance of 65ft. from the shaft, 4 the ;v>say vahio being 23.87dwt over a width of 19.5 in. Since the end of the year to April 50 the shaft had been sunk a further 65ft, to 730 ft., or 115 ft. below No. 4 level. The ore reserves at the end of t the year were estimated •on a t conservative basis, after careful examination, -to be not, less than 69.CC0 tons. What increased tonnage there .may be cannot be accurately or technically computed pending completion of scheme of development now proceeding. A working option was acquired over the Prohibition lease, consisting of 115 acres, adjoining the company's property ou th» line of reef. Work has been pushed on as quickly as possible with the object of proving the extension of the reef into the Prohibition area, but up to the present tha results have been unsatisfactory. In September last Mr. E. W. Spencer tendered his resignation as general manager of the company. Subsequently the directors approached Mr. A. Winter Evans, assistant general manager of the Simmer Deep mine who fox the greater part of 1909 wag in charge of this company's mint* during JTr. Spencer's absence in this country, Mr. Evans hn3 accepted the appointment as general manager. He arrived at Reefton from South Africa early in June, and lias now taken over his duties. In consequence of the company being without a general manager during tnc interregnum, the directors regret that, they are unable to present on this occasion the usual general manager's report. They have, however, drawn up a summary of the development work done during the past year, compiled from the mine manager's reports to, the board, which they trust will provide shareholders with all the information they desire.

BlacUwater — 17 0 Rrrmncr's — 0 0 4 Con. (JoldficMs — 10 0 Dixon Consolidated — 0 0 2 Kuramii Calcctonion 0 13 0 15 May Queen 0 2 4 Jlaoriland — 0 0 7 Mcanat-aixri — 0 0 7 New Sylvia 0 2 9 0 2 U Saxon 0 2 4 ••• Tairua. Miucs 0 10 0 12 Talisman ; 2 11 6 ?. 12 0 Waihi 5 0 6 3 1 0 Waihi Grand Junction ... 1 7 3 1 7 fi Waitanci 0 3 0 0 3 3 WaiUi-I'acroa 0 12 6 —