MINING NEWS

Dominion, Volume 7, Issue 2170, 8 June 1914, Page 8

MINING NEWS

■WELLINGTON SHARE MAKKET. There were no tTC.ivsa#tto*gg ift roiwing fiharos on Saturday. The uuotations were as follow: — Buyers. SftlUrs. -£ a. A * • d. Blaekwater •- J) 18 si Murray Creek (old) — 1 7 S Murray Creek (news — *3 7 6 Eoss Keeantstructeu' 0 2 10 — Swastika ~ ■ t 7 C Talfeman 1 15 5 116? Wailn ■ - 2 4 C Wuihi Grand Junction ... 1 5 9 1 6 6 Waitangi Oil <l 1 3 *Prc£nmfii.

STOCK ESOHAKfiE. (By Telcsroph.--i.rnss AasaitfaifonJ Auckland, .jumc 6. Sales-Grand Junction, £1 C<s, 3d.; Watchman, 2s, 3d. Ghristcluireh, June 6. Sale:—Tanpiri Coal, £1 Is. 9d. DuriedW, June 6. Sales:—Junction. £i 6s. 7d.; Miiburn Lime and Cement., £1 lis. 6il. WAini GOLD MINING. The report of the' WsSUI Gold 3!ir.iji|j Company. Ltd., submittal to the meeting of shareholders In london on May 11, carera the year ended Dcoetabei' SI, IMS, anst states that during the year 1.54,758 tans (of 20001b. dry wcighti were, treated, The gold and 6ilver sold realised 1 JS3SMSI. This amount, together with £16,483 for interest, makes thy total of £352,158. The expenditure in New Zcalaifd ,aad London, including development work at the niino, amounted to £211,394, k'avsijg o, batate o.f .•£140,743. The above sum added to the balauco of £17.956 -brought- forward males a total of £158,700. dividends have been paid free of income M-S agittjuntiiig to te, per share, or 20 per esnt. The srtm of £22,487 'ha9-been.resefveil fcf '.meoms tax in London and Kfrw TSualirod in respectof the year 1913. The sum of £iW has been written off foi\ deprtsiaiisai on Man I and machinery, and £i?5-J has been transferred, to llora Horn. a:ccon«t,- After nil appropriations the ba3a'./f*?e rama-faing in credit of revenue ajcotii'M svt Bccembtr 31 was £9194, which.the iltfiwteaw reeommeiid should be'carried'fonvd-r*; Tltfc «um of £19.814 has been spent on. capttal cceon'rft. Since the date of the accounts to Anril 11, 49,530 toni? (of 20-Klh./ ol b.i-e liavi hwn treated, yielding £89,238. A dividend, No. 83, of Is. per share was pe.Ul on. March «, absorbing £24.795, and a, dividend of Is. per ehurc will be paid on J bub §, 19M, An important development durin;,' t!i« year was the interseetioli of a jmyablo lode between, the Empire s:nd the IJoyal Jodfts, known' as the Drcadftauglit lade, Tt was first met with in sinking So. 4- shaft at a, point 88ft. below the No. 19 level, aa4 it has now been driven ott in the Sl-h. 9th, 10th,: and 11th levels. It, is- sipnU on t-io No. 8, but improves on the Jfo. i, aissS tltero ia about 733 ft. in- length oJ payable ore proved on the No. 10 level varying in width .from about 2 to sft, It is niwv heir." developed on the No. 11 level, and up to date of this report has toeft proved for 327 ft,, of which 160 ft, a.ro In payable of», At 525 ft. east on the I>raailnaiigiit lode on the No. 10 level a Iwfifi.ch vein otf the south wall "IIU3-been' driven on to the east a total of 231 ft. The vein varies in width from a few inches to 41ft., and the values aro satisfactory. Owing to -strifcess of tea! miners and transport-workers ths EUnpiy of fuel was interfered with, and it "was considered advisable to etispcnd pamp< Ing operations in-the hezinrrtufr «f Novettobcr on No. 11 level. Esplnratoßs ojj thto level have therefore bctn war.'; being only resumed there ire January of this year. A good deal of pi-ospe.t'ttnK work has been carried out in the upper level* on a. number of small veins that were cobfidered relatively uuimsjbTMftt winy years ago, and this work, has rwuttcd'iri the development of some liayh-We Kfeelss M ore. On the 10th level ijd.me payable ore has been opened ub oh both the Ivtansre and the Itoyal lodes, hut tfte doveloproest work on the Martha lode has tisen dJFap. pointing, no payable ore havißjj been developed during the year. On. the Edward lode, on the 10th level, the first otsscih was 6Uti»-faet<,r>-, proving th* width ot *h=i : reef to be 75ft. and jiayabte • oil the aver- ! nge, but unfortunately other crosscuts have not shown eueh good lesults. the Isdo j being split up by eoantrv rock.' The results of developments, of the Edward lode ; on tho 10th level so far seem to show that the quantity of .ore dflvcfenefl oH the 16f.1i is about the same a« that betwen the same points on the 9th, but the. «aW is lower. There is still a largo amount of work to be done on this lode on th-e 50th level. On the tenth level a pvospeetlm; crosscut, called the Bath south-fast crosscut, has been run to esptots thu eountry between the Empire and tho Bora! lodes in the eastern part of tho fiwne. AJthMtgh the elasfi of country passed throneh was' good, nothing of importonre b«s met wi'li. exicnt the Drcndnounb). idle, t'p n ero««.-.it soitth from'the Hoya] lo(Se c.ist- a Ir,4e \r-ii met with 3ft. wide, wortb Jfe. per tV'i It. has been driven on north, for !9fi' where it is worth ,Cl 10-, Cd. per toll, ant! ranth for 153 ft., the valttes voryhig from '■■ ,0 4 l V, pcr t0 "- H):; Vii(l, 'h ' hoinfr about oft. Pro.-.pcrtUii* hfts betn carried on by means nf a diamond driii Irom the face of the Jlentile .»n'ith-<viwt fnw«i< c h Nn. 9 level, with a view to explor'nothe Union U'aihi reef svsicm, but Vt J'Wf s.-.nd and clay were enw-Bjitcrcd' a'-nd tl>o bore has been stopped. The or* in cieht developed -hy drives aticl cro=.'eiit.<i both over and under it at, Derember 51 wtto estimated at 764,752 tons of payable ore, which compares vv.Ui 730.65S tons at »n----™'»''tir 5! - , 19lJ - Beside-, this there are 125.62; ton,.. t;s against 7H.E4! last voar) of payable ore 111 archps and piliats whi<-h snpp.-rt levels and <*o.Fls. \ jjreat do-ai of the ore supporting the levels eon' ho taken out gradually when thev t-.e-o'ii-e eb-olcte, but at additions! expense as further drives in the er.uiitry tack miy have to tic di-ivc-.t In orier io work iVw reefs safely. The m supportmg r,he shafts, cannot lie taken ,-,ut whil« ibe fihafts arc in v.*. Fellawrnc Use v>i-i'j>"M» Adopted since 1910, a setidratc iMlonccsheet is shown for the B<r' n ti oro Vvdrn c.cetric works department. ' The- ntant is now completed, and •»« r ? oon ■sitißfoct»*iW tostcd. and motors dpvel-.oiuc- ?-iVq % norn now at work in the'Vieinri.:*"miff. >'ll the ;oine motor,; developing m lu,! arn"work ;'';?.- • l ' l „ d „ , y '5 cjcpcctcd that further motors wiu soon be at work.