MINING NEWS.

Dominion, Volume 6, Issue 1649, 16 January 1913, Page 10

MINING NEWS.

: ' ( WELLINGTON SHARE MARKET. A fair number of sales wero recorded at tho morning oaU yesterday. Now Sylvia sold at Ib., Wailii Grand Junction at 223. 5d., Waiotalu at Zs. 2d, and Waitangi at 7d. Thcro was no business done at tlio afternoon call. The quotations wore as under:—. .. 1 Buyers. Sellerp. £ s. d. £ s. d. Kuranul Caledonian 0 10 — Murray Creek 0 4 6* — New Sylvia 0 011 0 12 Progress. — 0 8 9 Ros3 Reconstructed 0 5 4 0 5 6 Talistnan i 116 0 116 6 Waihi 11?. 0 112 6 Wnihl Grand Junction ... 1 I 0 12 6 Waiotahi :... 0 2 1 0 2 3 Waitangi 0 .0" 61 00 8 Watchman 0 2 0 0 2 3 •Premium. i. MOLYBDENITE."'' ' Thrccquartcrs of tho world's production of molybdenite comes from Australia, and after taking into account the production of Queensland, the major portion of tho output comes from tho mines at Kingsgate and Whipstick in thi* Stato. Japan and other countries also produoo tho ore. Molybdenum white' mot-ffj, but is found iU a nativo state.- It' has a rilvery lustre, is as ' malleablo as . iron, can be welded, filed, and polished, and is unctuous or greasy to the touch. Molybdenite contains .60 per edit, of molybdenum metal. Tho-effcct of Molybdenum on steel is eimilar to that of tungsten, but it givoa greater toughness, whilst molybdenum steel is more carily worked when hot, and stands more hardening than tungsten steel. The value of molybdenum ore depends on its richness and purity 'Up to somo few years ago Krupp, of Germany, ' was the only one to use molybdenite to any extent. and its uso was the secret of tho hardness of the 'armour-plates produced by the celebrated foundry at Essen. It is also an excellent alloy for the hardening of the point of projectiles. Since then molybdenite lias been used by all tho larso armour-plate makers of tho world. ' Molybdenite, the principal ore of molybdenum, has. been found ih twenty-two di£feront places Fcattcred over a larco area of New South Wales. At most of these places the deposits aro not sufficiently rich to permit, of .their profitable development, though molybdenite is freely saleable iii Enriand .and (Germany at .from £160 to i£lßo'.per ton. ' ' , • : STOCK EXCHANGE.. . " (By Telegraph.—Press .AssocinU>n.) Auckland, January 15. Business done at this morning's oall:— Talisman, £1 16s. 3d. ■ Waihi. £1 lis. 9d.-. ' Now Zealand Insurance, 1 £4' 14s. 6d Auckland Trams (ord.), £1 15s. ; . 1 The following business was dono at the 3.15 p.m.: call:— • ' Watchman, 2s. 2d. Waihi, £1 12?. • . Waihf Extended, 6id. i Waihi Grand Junction, £1 2s, 3d. : ■>■■■■ Northern Steam, 15s.V ' , v Ctirlstchurch, January 15.; Sales reported:—Canterbury Frozen Meat, £8; ICaiapoi Woollen (prof.); £5'55.; Waihi: £1 12s. . .'. . i" Customs duties rollccted at tho port of Wollington yesterday . amounted to £2357 ■ 16s. -■ v '■'. . 'Dunddln, January. 15. The following sale was made on the Stock Exohango to-day :-Unicin Steam, -£2 6s. -9d v.-....- ■ _The following ealo was reported:—Waihi Grand Junction, £1 2s. 3d.