MINING NEWS.

Dominion, Volume 5, Issue 1498, 22 July 1912, Page 8

MINING NEWS.

WELLINGTON SHAKE MARKET. The sales of mining shares recorded on Saturday were Hoas Heronatructed 6s. 2d., Talisman 395. 7id., and Waitanfti 6id. The buying and selling quotations were as undor Buyers. Sellers. £ s. d. £ s. d. Kuranni Caledonian — 0 14 New Svivin, — 0 0 1 I?os.s Deconstructed 0 6 2 0 6 6 Talisman 119 0 2 0 0 Waihi - ■ 115 0 Wailii Reefs 0 0-10 — Waihi Grand Junction :.. 1 1 6 12 3 Waitaaitri 0 0 6 0 0 7 The Wellington Stock ExcKar.se received the following tole-rram on Saturday from the Wo'-kson Dredge: Jieturn, 930z. Bdwt. for 128 hours. STOCK EXCHANGE. Auckland, ,Tu!v 20. TUisiness done at this ranrnins's call:— Kurauui Caledonian, Is. 3d. Xew Sylvia. sd. Hiss. 65.. fe. Id. .. W'aihi, £1 155.. £1 lfe. 93. Brtiry Coal, 3s. Union Steam, £2 6s. 3d. DEEDGING. i Dunedin, July 20. Additional dredging returns :-Wa,ikakn. United No. 1, 13oz. ldwt., for 124 hours; Kiso and Shine, 30oz. lOdwt., for 135 hours: Rising Sun. 70oz. 2dwt„ for eight days; Worksop. 930z. Sdwt., for 127 hours; New Trafalgar, 140z.' Sdwt., for 107 hours.

TALISMAN CONSOLIDATED. The "Financial Times." commenting on the balance-sheet of the above company, sn-yFi:— The most striking, and satisfactory, feature of the report to .February 29 last of the Talisman Consolidated is the increase in the ore reserves, for in this resneet the position lias been, distinctly weak. The tonnage of blocked out and probable ore is now estimated at 98.800 tons, value £6. as compared with rather less tlian 50,000 tone having the same average twelve months previously. The latest total would supply the mill for about two years. Although the average value of the roserves remains tho same as before, higher grade material was. nulled lafit year, the recovery averaging 975. 4d.. as against 955. per ton, while a small economy has been effected in the ratio of expenditure.- The depreciation allowance has been increased from under £3000 to over £11,000, but. this is in the main offset by the transfer of £7000/ from bullion reserve. After payment of' dividends totalling 7s. per sharc.'or Od. more than for 1910-11, the slightly increased sum of .£24.000 is carried forward. The balance of. the stare premium acc.ouut-£6SCO-ha:> been written off machinery, plant, etc., rocluciiiE that entry lo £76,000. The net cash assets, irrespective of investments, exceed the nrnflt and loss credit hal-ince by fCI.OOO. As to the investments (£30,000), the mc.t'?.v In:- been put into Rood stocki=, and SIO.IIOO phreil on deposit with the rom-v.-niv's bankers, until it is romiu't'd for the development of the Woodstock section. Ite•p.U-. in the Ttainnn ami Dubbo section*, the manager states', hive been very f-avour-ihlf. e-'l the f.-:' L !irp ),«„!;* promising, but t.h? Talisman section at l\a. •! lev?! fc w Liar disappointing.