MINING NEWS.

Dominion, Volume 6, Issue 1605, 23 November 1912, Page 2

MINING NEWS.

WELLINGTON SHAKE MARKET. At tho morning call yesterday tbo following sales were recorded:—Now Hylvia, at la. 2id.; llobo Reconstructed, at 4s. Gd.; and Talisman, at 395. There were no transactions recorded at tho afternoon cull. The Quotations-were as under:— Buyers. Sollera. £ a. d. £ o. a. Now Sylvia 0 12 0 13 Boss Reconstructed 0 4 3 0 4 8 Talisman 118 6 1 19 3 Waihi ; — 114 3 Waihi Grand Junction ... 1 1 6 12 0 Wniotahi 0 2 8 0 2 10 Weitangl — 0 0 7 Watchman ; 0 1 10 — Worksop, Dredge — 3 11 0 CARTHAGE GOLD MIKES. Tho board of directors has ordered the following information to bo sent to the shareholders On October 31, Mr. G. I[. Powell had accomplished the object ot his engagement's, namoly, to put tho mine in good working order and on a payable basis. Mr. Powell now retires, and Mr. Rosenberg, who has boon associated with Mr. I'owell in similar work for tho past twelve years, has now talsoß chaxgo. During Mr. Powell's control all alterations set out in his report ol July last liavo been carried out and tho mino is now working smoothly and regularly. The gold won under his supervision amounted to £776 13s. 6d., and the wages • and cost of producing same was £271) 10s. 6d., showing a profit of £5C6 3s. Tho directors regret that they cannot seo their way to declare a dividend at present for tho following reasons :—(l) Conway's freehold, and adjoining property, has been leased with the right 'of purchase, at an outlay at present of £210. This give 6 the company an additional aroa of 160 acres, and it 1b now their Intention to work it with the present plant. This doubles the lif« of the property. (2) It was found economical'to purchase another £200 worth of plant which will thoroughly equip the claim. Ilio plant comprises a complete radius of face and suction pipes. This will enable tho mine to work to the 'full limit of its capacity without further outlay. , Mr. Powell ia of the opinion that the company opened out in probably the most difficult portion of its ground. Exceptional quantities of burled timber were met with and tho quantity of dirt treated was Bmall .a comparison to the capacity of the plant. It is . satisfactory to note that even with this handicap the claim has alwajs worked at .a profit. During the last fortnight of October this difficulty lessened considerably and tho profit net per day amounted to £12 10s., which should be highly satisfactory. The workings have disclosed two other leads than can bo worked from the present site, and when the present lead is worked to the limit of the section, these will receive the manager's attention. SWASTIKA GOLD MINES. Tito mine manager, writing under date November 19, reports as follows:— "I found I oould not get a gravity scheme to bring stone from the big reef under about £150, so have decided to wind the quartz up to the top paddock. It will bo expensive, but, considering our object, will be gained by the crushing of sample lots of 5 to 10 tons, the total cost will be comparatively small. I think I can safely say we will have a trial crushing from-this before Christmas. All onr preparatory outside work will be completed this week at at Co6t of lesa than £200,, which, both as regards time ana money, should be satisfactory. For the future we will be getting a return from all work going on. -I am sending you Bome samples of the auriferous quartz taken from the faces at present exposed. On wet days wo havo been grading and widening the tunnol on the big reef, and the 6tone in appearance is most encouraging. STOCK .EXCHANGE SALES. (By Telegraph.—Press Association.) Auckland, November 22. Business done at this morning's call included:—Occidental, Is. 4d. Northern Coal, 12s. Id. Taupiri Coal, £1 2s. Auckland- Tramß (ord.), £1 ss. Wilson's Cement (ord.), £1 13s. 9d. Customs duties collected at the port of Wellington yesterday amounted to £1985 6s. sd. - ' The following business was done at the 3.15 p.m. call:— Handsworth. Id. ' ■ Victoria, Bd. Dunedin, November 22. The following sales wore made on the Stock Exchange to-day :—Union Steam, £2 10s. (three parcelß). The fallowing sale 'was reported:—Mosgiel Woollen, £3 9s. i LONDON MINING QUOTATIONS. London, November 21. Yesterday's olosimr quotations Tt?T6 Waihi Gold Mining, £1 11b. lOd. (buyers), and £1 15s. Id. (sellers). BOSS RECONSTRUCTED. . The secretary of tho above company received tho following telegram yesterday from ,the mine manager -.—Both stationary pumps working—lodgies. in position and working. , : • i DREDGING. , , ■ (By Telegraph.—Press Association.) Dunedin, November 22. Dredging ' returns:—Masterton, ' 330z. .lldwt.j Rising Sun, 390z. 9dwt.; Olrig, 240z. 'ldwt.j Waikaka United I, 14oz. 6dwt.; Waikaia, lloz. 14dwt.; Xoputai, lOoz. 7dwt.