MINING NEWS.

Dominion, Volume 7, Issue 1962, 20 January 1914, Page 10

MINING NEWS.

WELLINGTON KItAKE MARKET.' " Tho sales recorded in the mining market yesterday wero Hoss Heconstracted at- Cs. 9d„ Talisman at 425. 6d.. and Walhl at sia. 6d. The quotations wore as follow:— Buyers. Sellen.!. £ s. d. £ s. d. Progress : 0 11 0 0 IS 0 Hose Reconstructed 0 6 6 ■'■ 0 7 0 Swastika — ' 1 0■ 0 Talisman 2 10 - Waihi Grand Junction ... — ' 1 7 6 Waihi 211 6 .. .;2 12 3 Waihi Paeroa — .. -.1 3 0 NEW ZEALAND CP.OWN MINES. '■ ■ The report of tho New Zealand Crown Mines Company, Ltd., covers the year ended June 30, 1913. and states that, the issued capital stands at a total of 304,650 shares with 195,350 shares in reserve, of which 150,000 are under option at par until December 31, 1913. The ore crushed during the twolve mouths from July 1. 1912, to June 30. 1913. amounted to 19.023 tone, yielding £33,C36. enual to 345. 8.69 d, per ton: and the expenditure upon mining and milling was £26,267, or 275. 7.316 d. per ton. The bullion produced, after paying for mining, milling and all general expenses, left a. working profit-.of £-1090, which, after dofrnyiiig thu expenditure on development and depreciation of plant, and bringing in sundry profit items and the carry forward from the previous year, leaves a 6um of £251" standing to debit of profit and loss account. The oro reserves arc estimated by tho general manager at 79.390 tonf. which include- <6.530 tons expected to bo dorived from the -Maria reef. The results of the year's operations emphasise thn fact that with the sm-all tonnage nowbeing handled small profits only can be made, and to provide a larger tonnage for the mill it is necessary to carry out development work on a more cstensive. scale and to vigorously open up tho kiiowh blocks of rrayab'e ere as well as to ronko eom« small addition* to the mine eciuin > ment- The beard, therefore, recommend that fresh working capital be raised ntid submit ?. reronstru.-tion echeme. wlucV involves a liability of ?,s. per 4s. shn.rf.iltwas announced that- the it-i'bscri,Titioii..; of: ICn.OCO shares hw been underwritten. A cable message published yc>»terdav stated ti-at the new compin- hn(l.:becß : ' registered with e, capital of £100,CCO/t^--,.. STOCK EVIIW.L (By Telegraph.—Prncs Association.) Auckland, January 1?; Sales on the Stock Exchange.to-day,.wero-as follow:— Saxon. Is. Roes, 6s. 9d., 73. Talisman. £2 Is. 6d. Waihi. £2 lis. 3d.. £2 -12=,". N.Z. Insurance. £s 1». ' ' Third call:— Union Steam, £1 (reported!.-". Waihi Grand Junction. £1 7 Ross Goldfields. 7s. Id., 7s. ■ Saxon, Is. Duncdln, January .19.--;-Stock Exchange tales:— Union Steam (ord.), £1 4,;. 9d. 1 : Salo reported:—National llanls, £5 ss.'-6d."- : Tho following are the latest quotations, subject to the usual brokerago:— '.. •>,,, Dredging stocks: Electric, buyers jig.; fe.' land Block, buyers Is., sellers 2s, 6i!,;. Rise and Shine, sellers £1 !os. 6d.: Rising Sun,' ; sellers £1 25.; Sailor's Bend, buyers .la.* Jd.. sellers 3s. 6d. Mining stocks: Ross ftoldfields, buyers 6s. 7d.: Consolidated Goldfields. sellers 195.; Progress 3lines of New Zealand, sellers 15;.; Waitangi, sellers 13d.; Consolidated. buyers .62 2s„ sellers £2 Waihi, buyers £2 lis. 6d., sellers £2 12s. M.; ' Waihi Grand Junction, buyers £1 7s.,,sellers £1 7s. 3d. ■■■ ■ luvcitmcnt stocko>: National Bauk. sellers £5 65.: Bank of New Zealand, buyers £11 15.!.: National Insurance, sellers £2 IK 6d.; Union Steam Shiu Co, Jorri.i, buyers £! te. 9d.. .sellers £t 55.; 1-nuin -stcntii ..-ship Co. (pref.J, sellers 19s. 10d.; Weslport Coal Co.. seller,; £1 llo.:.Xatto»al Mortgage Co.vi pollers £4 f-s-; Mllburn Lime and Cement.-:-sellers £1 125.: Moseiel Woollen Factory." biivers £3 10s.: Wright, Stephenson, buyers' £6' 10s. -■ :' - - -y -