MINING NEWS.

Dominion, Volume 4, Issue 1212, 22 August 1911, Page 8

MINING NEWS.

■ WELLINGTON SHAKE MARKET. A fair number of sales of mining shares wore made yesterday, but prices are still very depressed. The transactions recorded vferc as under;- • Maoriland,'s!d. (third call). New Sylvia,. 2s. 9d, (second call). Tairua, Mines, Is. id., Is. Id- (second call). -Talisman, 51s. fid. (third call). Waihi, 61s. (third call!. Waihi Grand Junction, 265. 9d., 265. 9d. (third call). Waihi-Paeroa, 15s. premium. The buying and selling quotations were •as under:— Buyers. Seller*.

STOCK EXCHANGE. (By Telegraph.—Press Association.) • Auckland, August 21. Business done on 'Change this morning; :Saxon, 2«. 5(1. . ' Crown, 2s. 7d. Maoriland, 51d. Grand Junction, .£1 6=. 9d. Ilikurangi Coal, 19s. 6d. Wilson's Cement (ortl.), £1 19s. 9d. The following business was done at tho 3.15 p.m. call today';— Kuranui Caledonian, Is. <d. N.Z. Crown, 2s. 7d.' Waihi Grand Junction, £1 6s. 9d., £1 7s. ■ Dominion, Id. Auckland Gas,. £3 lis. od. Dunedln, August 21. The following are the Stock Exchange .quotations;— ■ , . Dredging Stocks: Golden Bed, sellers R?.': ■Hartley and Eiley, buyers 145., sellers £1; Island Block, sellers 55.; Otago, sellers, 13s. 6d.; Sailor's''Bend, buyers 55., severs '7s; i Mining Stocks: Consolidated Goldfields, sellers £1; Saxon', sellers 2s. 4J'd.; Kuranui Caledonian, sellers 15a. 4d.; Old Ilauraki, soilcry 2s. Id.; May Queen, buyers 2s. Id., sellers 2s. 3d.; New Sylvia, buyers 2s. 9d.. sellers 2s. lid.; New Zealand Crown, sellers 2s. 6d.; Waitangi. buyers, 2s. lid., sellers ok." Id;: Talisman Consolidated, sellers £2 125.; Waihi, buyers £3 os. 9d„ sellers £3 25.; Waihi Grand Junction, sellers £1 65.-9 d.'' ... Investment Stocks: National Bank, buyers' ,££, sellers £6 Is,; Bank 'of New Zealand, sellers £12 75.; TTnion Bank, buyers, £65 10s'.'; 'National Insurance, buyers £1 175.; Standard Insurance, buyers £1 Its. 6d., sellers £1 135.; U.S.B. Co., sellers £2 Is. 9d.: Wes'tport. Coal Co.. buyers £1 Bs. 9d„ sellers £1 95.; Mosgiel Woollen Factory, buyers £.5 lis.: New Zealand Paper Mills, buyers £1 6a. Cd., sellers £1 Is, 6d. NEW BIG -HIVEB O.M. COMPANY;' The report, of the directors of the New Big Eiver Company for the year ended July 31 is very full, and deals with all features of the company's property. With respect to the operations of the battery, the report states that during the year 5368 tons of stone were crushed for 5414 ounces Bd\vt. of melted gold. Tlii:. realised £21,887 17s. 81

Since the resumption of crushing operations from No. 10 level ore, the mill has been running full time, with the exception of a stoppage of four weeks last summer owing to the shortness of water during a protracted spell of exceptionally dry weather. At the dam. the byrwash which was formed of timber and roek became dislodged, and-lias been replaced ,by a concrete wall; also n. wing-dam has been put in at the head of the battery wator-rac.o.

The operations of the cyanide Dlant show that during the year 35C0'tons of sand were treated for 721 ounces lfidwt. of bullion, or lis. lid. per ton of sand. The gold woii uas valued at £21<5 .9-. 8d„ aud was produced at a total treatment cost of £987 12s. Bd., or. ss. 53d. nor ton. This leaves a net profit of .£llsß 175., or 6s. 52d. per ton. The mechanical efficiency of this plant is being improved in every possihle wav. A new .Sump is in coiivse of erection, which will assist iu treating a greater 'quantity of sand.

During the four years of the company's existence 17.775 tons were crushed for' a return of £93.939 '16s. 4d.. out of which thirty dividends have been 'paid amouutine to £*5.600 and eounl to 38s. per share With respect to the future prospects the report siys

"The future prospects of tile mine are exceedingly bright, ami steady. dividends may lie exnectcJ. The sanguine .-inticijin-, lions which were formed 6t' No, 10 level have been more than realised, and although all the development work there lias not yet been fully completed, the extent, of stone now opened tin aggregates approximately <1(10 feet in -length, which greatly exceeds tint of No. 9 or any of the upper levels The most, satisfactory feature exhibited in No. 10 level is tint the reef is increasing in length ,-inrl strength as greater (lentil is attained. When the new wlncrii'.i plant is in commission the further development of the mine can be prosecutcd in a more progressive and economical manner." ■ .

£ a. d. £ 5. d. i'ackwater . — 15 6 Con. Goldfields — 0 19 6. Kuranui Caledonian 0 13 — May Queen 0 2 1 0 2 3 Maoriland — 0 0 5^ New Sylvia 0 2 10 — Old Hauralu 0 J 6 - §axou 0 2 2 0 2 3 Tairu'a- Mines 0 10 0 12 Talismau 2 11 3 2 11 6 Victoria — 0 11 Waihi 3 10 3 1 § Waihi Grand Jnnction ... 1 6 9 17 0 Waitansi \ 0 3-JJ . 0 3 3 JVaihi-Paeroa — ' 015 0 Murray Creek (4s. paid) 0 4 0 —