MINING NEWS.

Dominion, Volume 5, Issue 1247, 2 October 1911, Page 10

MINING NEWS.

WELLINGTON SHAKE MARKET. A 6alo of Waihi Grand Junction at 345. 3d. was the ouly transaction recorded on Saturday. The burins and sellinc Quotations wore as ■ under:— Buyers. Sellers. , £ 3 il. £ s. d. Blackwatcr — 17 3 Con. Goldtields — 10 0 Kuranui Caledonian — 0 13 Way Queen 0 2 1 — New Sylvia 0 1 10 0 2 0 Saxon 0 17 0 18 Tairua Mines — 0 0 9 Talisman 2 10 3 2 10 6 Waiiii 3 10 0 3 10 6 Waihi Grand Junction 1 13 9 1 14 0 Waitangi 0 3 1 0 3 2 Watchman 0 16 — Waihi I'aeroa — 0 15 0 Worksop Dredee 2 7 6 2 10 0 P>o=3 — 0 2 3 Murray Creclt (55.) 0 8 0 — The course of sales during the past month ras as under:— Hlackwator, 275. i'J.. Hremncr's, 53d.. tel. New Ki? liiver. 7Es.. 785.. 785.. 78s. 6d„ 735. 3d., 785.. 19?. New Sylvia. 2s. 6d.. 2s. 7d„ 2s. 2d.. 2s. 2d.. 2-,. 2d.. 2s. 2d., Is. 81(1.. Is. BM.. Is. 9Jd.. le. 9d„ Is. sd„ Is. 9d., Is. 9d„ Is. 9d.. 25., Is. lid.. Is. Hid., is. lUd.. Is. llid . Old llariraki, In lCd. Saxon. 25.. Is. lid.. Is. Bd., Is. 71d. Tairua Cid. Talisman. K:i.. 50s. 3d.. 505.. 50?., 495. 10»d.. m. IC-i-d.. CC-... Xs. 3d.. 495. 6d.. 495. 9d„ 495. 9d., 495. 9d. W.nMii, 725. 6d„ 735. 6d„ 745. Sd., 755., 755. 3d.. 745., 72,;.. 7Cs. ed.. 70s. 6d„ 70s. 6(1., 70s. 6d„ 71s. 6d„ 695, 6d., 695. £4., Tte., H„ 70s. 675. 3d.. 69j., 695. 6d.. 695. 3d.. 705.. 70s. id.. 695. 9d.. 70s. M., 715.. 70s. M.. 7Cs. 9d.. 695. 6d„ 695. 7»d..'715. Cd.. 71s. 6d.. 725. 9d., 735.. 735. 3d.. 735. 9(1., 735. 9d.. 735. 9(1., 735. 9d.. 735. 9d„ 735. 9d„ 735. 9d„ 735. 9d.. 72 s„ 71s. 9d.. 71s. 6(1.. 71s. Waihi Grand Junction, 295., 28s. 3d., 3d., 273. 3d.. 275., 27.=.. 27.=. 6(1.. 275. 4{d., 275. 3d., 28;. 6d., 295. 3d.. 255. 6d.. 2fe 9d„ 305.. 303., 30s. 3d., 295. 6d„ 295. 6d„ 295. 6d„ 295.

3d., 29a. 4Jd., 295. 9d., 505.. 295. Sd., 305., Vs.. , 31e. 3d., 31s. 3d., 325.. 325.. 345., 345., 345., 345.. , 345., 345., 345., 325. 7id.. 32*. 7*d., 34p., 3*:«. 1 3d., 35.«., 355.. 355.. 35?.. 35=?.. 355.. 345. 9d.. 355. til, 35s 3d., 35.?. 3d.. 355.. 345. 3d. WaitsTi'zi, lid.. ?.s. 9d.. 2s. Ed., 2:;. 11*4. Itoss, 2s 2d., 2>. Id., 2s. 2s. Id. Tiii» Wellington Stock J'lxehango received tho following telegram on Saturday from the* Worktop Co.:—"Return 85oz. 13dwt. for 112 hours." STOCK KXCHAXOE. (By Telegraph-Press Association.) Cliristrihurch, September 30. The following paJ-o.s niv reported on the Stock Kxohaiiße of Canterbury:— Canterbury Frozen ?.Lc.ir., .Lti. Kai.ipoi Woollen fpref.). £5 7?. 6d. Whit-eoinbe and Tourb.-. £6 105. Taupirt- Coal. £1 Is. 9<i. Auckland, September 30. The followin--* hu?rnoss was done on the Stool; Kxeiian™ this liwrnintr Kuranui 1?. 2d. May QitDon, 2s. 2A„ 2s. 3d. Moanaiain, 7d. Wcitausri, 3s. Id. Tali,man. £2 10s. 3d. Grand Junction. £1 14*. 3d.. £1 14s. 6d. WailH, £3 10s. 3d. to £-3 lCs. 9d. Hnuraki Reefs (con.). Is. 3d. Golden Cro?s, ICd. Pride of Waibi. 3d. War'ni .Extended, lr». lid. Auckland Trams (ord.), £1 4s. Ounodin, October 1. The folkwins sales were reported on the Stoek Exchange yesterday Waihi Grand Junction. £1 14s. 6d. Moiui'i Lyell, £1 3s. 6d. ROSS GOLDFIELDS RECONSTRUCTED. LIMITED. The following memorandum to shareholders of the lloss GoMfields Reconstructed. Ltd., has been issued:— At tho Ecncral moctine of the company, held on May 16 last, the directors laid bofcre shareholders their recommendations for the future working: of ltccs Flats, and their suggestion that endeavour be mr.do to dispose of the hydro-electric plant, and that a F.team plaii-fc with direct coupled bucket pumps be installed, as recommended by Mr. .IV. P. Gauvain, was unanimously approved. Your directors have made every endeavour to dispose of the electric plant, and have submitted it to the New Zealand Government, and to all likely purchasers known to them, but ud to the pmcnt without definite result. The directors f<*l that, in the interests of c-'harcholders. work should be resumed on the company's claim as earl'v as possible, but consider it is essential that the finances of tho company be assured before larcc expendi-lure commitments are entered into, and that the capital available bo sufficient to provide ample margin for all contingencies. In view of the experience of the past, it must bo apparent to all shareholders that such a precaution is not only advisable, but imperative. When the company was iwonstruetcd it waa thought that tho pr/*?cn4 hydro-ekct.ric plant could be uti'j.-ed to advantage, but the experts employed hv the directors have strongly recommended. after takinz into consideration the peculiar circumstances surrounding the mine, the installation of a steam plant. The capital of 'the company is in BD.CGO shares of £1 each, of which 70.CC0 shares were allotted under the reconstruction scheme, and arc now paid up to 14s. 6d. p*r share; IO.CCO shn.res arc unissued. Your directors rcconuner.d that these IO.CCO £1 unissued shares be offered for subscription to existing shareholders pro rata to their proreitt holdings. and l>e called "B" dhares, the issue to be made on the following terras:—An amount of threepence (3d.) per share be payable on application, and on the. expro?s FtiDulaition that 110 further calls be made in respect of these shares until the 6s. 6d. per share at present uncalled on the 7C.CCO contributing shares has first beer, Vhile ottering these shares for subscription your directors arc s-till hopeful of selling the hydro-elcctric plant, and are in fact now negotiating to that end. In the event of their doing &o, it is possible very little capital will need to be called up. a»id possibly 110 demand at all made, except the application call, in respect of the issue of IO.OCO shares now proposed. . But your directors are strongly of opinion that it would be unwise at the present juncture to order a fresh plant with the small raarna of capital now available. Application form for the issue of "B" shares is sent herewith, and is- returnable on or before Tuesday, October 17, 1911. Your directors strongly urge the absolute necessity of each shareholder taking tin hie cuota of the fresh issue; they feel if the company s prop-arty to be worked to advantage, ample capital be available, otherwise thev shall bo compelled to rccommend shareholders to wind up the present company. In the event of favourable rcspmre by shareholders, your directors propose to order the steam plant forthwith, and to this end will avail of the servicer, of Mr. W. P. Gauvain, A.M. Inst. OE.„ who is at present in England. \ WAITAKGI MINE. The manager of tho Waita.ngi G-oldmininir Co., jV"ckland, wires oc followB:—"Borc<l into hanging-wall of reef: mineral indications pood, no gold seen." DREDGING. (By Telegraph — Press Association.) Dunedin, October 1. Dredging returns:—Jlanuhorikau, 390z.; Golden Bed, JCoz.; Sandy Point. 240z. 13d\vt.: UndrLUL-ted Sluicing, 690z. for tho month.