MINING NEWS.

Dominion, Volume 5, Issue 1442, 17 May 1912, Page 10

MINING NEWS.

WELLINGTON SHARE MARKET. The mining market is very dull, and in view of the trouble at Waihi the position is worse than ever. It is stated that the mine is being flooded, and that is inevitable if pumping has been stopped. This means that even if the strike was declared at an end immediately it will be some considerable time before the miners can resume work. There are great possibilities in the situation. At the morning call yesterday a sale of Talismans at 425. 6d. was reported, and in the afternoon a sale of Occidentals at Is. 3jjd. was recorded. The buying and selling quotations were as under:— B»ver« Sellers. fl i d. £ s. d. Con. Goldfields 0 12 3 - May Queen 0 14 — New Big River 4 5 0 — Occidental 0 12 0 14 Ross Reconstructed 0 4 6 0 6 0 Talisman 2 2 0 2 2 9 Waihi — 1 16 6 Waihi Grand Junction ... 1 1 < 12 3 Waitangi — 0 13 Taranaki Petroleum : — 12 0 STOCK EXCHANGE. (By Teicgraph-Press Association.) Auckland, May 16. Business done on 'Change this morning: May Queen, is. fid., Is. 7d. Occidental, Is. 3d. Waiotahi. 2s. Ed. Waihi, £1 16s. 6d. Grand Junction, £1 2s. 3d., £1 2s. The following business was done at the 3.15 p.m. call of the Stock Exchange this afternoon.:— May Queen, Is. 6d, Moanataiari, 3*d. Occidental Con., Is. 3d. Waihi Reefs, is. Waihi Grand Junction, £1 2s. Mountain King, 2d. Northern Steam (con.), 7s. Id. Christchurch, May 16. Sales reported on 'Change:— Christchurch Meat, £15. Kaiapoi Woollen, £5 6s. Mason and Struthers, £1 -4s. 6d. Manning's Brewery, £4 2s. 6d. Grand Junction, £1 2s: 3d., £1 2s. Dunedin, May 16. A. sale cf Milburn Lime and Cement shares was made on the Stock Exchange to-day at £1 9s. The following sales wero reported:—Talisman Consolidated, £2 2s. UM.; Westport Coal, £1 9s. 6d.;. "Otago Dallv Times," £2 125.; Milburn Lime and Cement (Is. issue), 19s, 6d. WATCHMAN G.M. CO. MINE. MANAGER'S REPORT. Work has been in progress as usual in I various parts of the mine. The intermediate level in the No. 1 rise has been advanced a.further distance, of 10ft., making a total of 51 feet to date. The quartz looks well, and continues to show sulphid« and zinc blend at intervals. No 1 Winse.—Cutting into . the footwal! was continued for a few shifts, and as all the quarts appeared to be in hand sinking was resumed on Wednesday last. Although' a. few colours of gold are seen in the stone it has not proved.to be payable, and although the water is making in small quantities-it greatly interferes, with the boring, owing to tho soft rubbly nature of the reef. - No. 2 Chamber—This face continues.to produce ore of a payable nature, .and occasionally colours of gold cam be seen in th« stone. This face is now. .sufficiently advanced to allow tho timbers to bo placed in position, which will he in haad next week. ■ • ■■ . No 3 Rise-Work has been in progress as usual in this rise, and an additional 4ft added to the distance, making's total of 34ft. As there appeared to be no change in the reef of any importance, a start has ben made to cut into the_ hanging-wall for 'he nurpose of ascertaining if. all (.he reef is in hand. .... North Face.—This fane has been advanced an additional 4ft. with one shift, makin" a total of 113 ft. to date. The reef looks well, and for the last few feet su!nhid'es and zinc, blends have been seen more freely, and a few strong colours of gold were seen in the stone,