MINING NEWS.

Dominion, Volume 7, Issue 1893, 30 October 1913, Page 10

MINING NEWS.

WELLINGTON ■ BHAIIIS MARKET. There were no transactions to mining B.haro<s yesterday, and hero again tho strike influence is being felt, many fearing a shortage of coal, owing to the closing Jown of tho Iluntly mine and the possibility of tho West Coast miners taking up the cry of "down .tools." Tho quotas tions yesterday were as untie*:— Haver?. Sellers. ■ '* £s. d. £3. d. Montezuma. 0 18 0 — New Sylvia 0 10 0 12 •Itoss Reconstructed 013 6 , 014 0 TUlisman — 2 2 9 Waihi — 215 9 Wiiihi Grand Junction ... — 15 6 Worksop Dredge 410 0 — . ; MINING IN MANILA. A new company celled the .Manila Gravel ond tioid Dredging Company has just been' formed with tho dual object of dredging for gravel and gold in the Marinuiiia, Itiver, Manila. Tjie registration, with a share capital of £50,0M1, in 60,000 shares of £1 each, was effected on September 24, the minimum number of shares having been subscribed for. The company will carry on operations on the MoJiqulna liirer, a few miles from the City of Manila, in, the Philippine Islands, more as a commercial than a gold-mining undertaking for supplying tho City of Manila, and the surroundings district witii stone, gravel, and Mind, for all three of which there is a, very large and Constant demand. The rights obtained by tho company consist of 99-yeaf leases, from tho latter portion of 1911, over four claims,' giving the exclusive right to seek for and remove minerals of all descriptions. Tho only Government condition is that at loast £20 shall bo spent in cach year on each of the four claims secured by the company. Tho claims contain the only supply of gravel and sand in the vicinity of Manila, as the Mariduina, is tho only river coming down directly from the mountains, all the others being rivers flowing through plains and flat- country. It is intended forthwith to in.stal at tho claim nearest to the city the first portion of tho plant. As the material is dredged up it will bo treated for the extraction of whatever gold it may contain. After this work has .bcem completed the various resulting classes of material will be either passed pn and discharged into the barges, which will be moored alongside the dredge, or through pipM on to tho shore as required. " Tho board of directors, with tho head office of tho company, will bo in Dunedm, and subordinate to it will be a local advisory board in Manila, which will work in conjunction, with the general manager, and will have to account in- everything to the board of directors at Dunedin. The directors intend to keep the shares down probably to not' more than -20,000 contributing Bhares.

STOCK EXCHANGE. (By Telefcraph.— Prc«s Association.) Auckland, October 29. The followine sales were made oil the Err'tansc to-day:— Waihi ftrand Junction, £1 ss. 6d. v £1 ss. 3d. ■Golden Cross, 2}d. Talisman Consolidated,' £2 35., £2 Is. 6d. 4d. Boss Goldfields, 13s. 6d., 136. 7d. . Waihi, £2 15s. 6d. Wailri-Pacr-oa, £1 te. ' Solos reported Auckland Trams ford.), £1 2s. 3d.; Hobs Goldfields, 13s. 6d. Dunedln, October 29. Tho following sales were made on tho Stock Exchange to-day:— Goldfields. 13s. 6d. (two parcels). Wailri. £2 16s, (two narcels), £2 ISs, 9d. N. 55. Paper Mills, 17s. The following sale was reported:—Talisman Consolidated. £2 3s.