MINING NEWS

Dominion, Volume 12, Issue 127, 22 February 1919, Page 10

MINING NEWS

WELLINGTON'SHAKE MARKET. The quotations yesterday for mining shares were as uuder:— ' Buyors. . Sollors. > ' £ s.'d. £s. d. 1 Talisman :...'.., 010 0 010 6 Waihi 2 4;3 ' 2 4 9 Waihi Junction 013 0 .".- 013 9 STOCK EXCHANGE! "; ; By Telegraph—Press Association Christohuroh-February 21. Stock Exchange sales:—Standard Insurance, 475.; Taupiri Coal, 19s.' 6d. Dunedin. February 21. Sales: HuddartrParkcr, 38s. 9d. (five parcels), 38s. 10d.; Wcstport Ooal, 31s. 6d., 31s. 6d.; Ml. Lvoll, 245. 3d, and 245. 3d.j Union Bank (fractional rights), 435. 6d. and 455. LONDON STOCK EXCHANGE. Australian-New Zealand Cable Association. (Rec, February 21, 10.40; p.m.) ' ■ London, February 16. Among the latest quotations on the Stock Exchange are the Mowing ;-P. and 0„ £412; Dalgety's, £10, £71 ss. . TALISMAN CONSOLIDATED,' The ronort of the.directors-t,f the Talis-' man 1 Consolidated','Ltd.. to 'be presented to shareholders at the annual meeting of the conmany, to bo held on Friday; March 7, ot the Chamber of Commerce; Auckland, has now been circulated. This states that ■ for the year ended September. 30, 1918, there" was a surplus of '£76,544 25., in which "was Included £4803 7s. Bd.- interest on the British investment and interest on money at short call ill Ns\v Zealand, £1611 17a. 4d. After providing £5759 9s. 3d. for depreciation and £.9036 17s. 6d. for income tax, the net profit \v«s £61,747 15s. 3d., ■ind of this amomil £51,760 had been paid in dividends. The balance, £9997 15s. 3d., together with tho <vjionni brought forward f-'ifn last ---ear, £19.653 ss.' 10d., a .total of £20.833 Is. Id., it was. proposed to carry forward to next year's accounts. •' .During year three dividends- had been declared, amounting lo £51.750. which cost • • i')iii;iw:y £9635 12s. sd. in taxation. In pursuance of the poliov of strong finance, deemed necessary by the condition' of the mine, the directors, tad held the largo amount of £50,000,- approximately, in hand for development work, should such a course seem advisable when the .'results of the boring operations available. ''..-■

The development of the company's mine had been seriously married by the shortage of suitable miners, but with the conclusion of the war it was hoped that many of the men engaged therein will soon return to their usual avocation. The year's work had been exceedingly disappointing in so far as opening up any new ore bodies was concerned, and the superintendent stated that the ore available for crushing was now reduced to. very small dimensions. : With-a view 'Of., ascertaining what the. ,reefs in the mine contain in .denth. boring by means of the diamond drilling plant: which'was made available by the Mines Department, had been started. A depth of about 300 ft. from I\o. 15 level in - the Woodstock section had been reached, and the. core, which - was. examined nveekly, showed the' country to be well mineralised. -,It was intended to continue, the'bore to-about JX)ft.. at dentil it "was hoped to have "passed "through' the' reef system in this section of the mine. • It was ako intended to nut' down, two other bore-holes from No. 15 level .in the "Bonam;.' section. Upon, the result' of \ these V boring operations, and of the*: drive.-: south at"'Jfo. 15 level'in'the Dubbo section;: tho future or the mine depended. "

,Thn. renort of ; the ;sutfermtendent, Mr. R. Kta-nneld. states thatdriving, north at No, 15 level had been disappointing as ,iar ;as values were concerned, but had j>royed the existence of quartz in:a bcction tHat at No.. 14 level showed- mereiy the vein-, fleure -filled. with.clay. -Driving south at No.' 15 leve>. in, the Dub'oo section. 'had disclosed two short shoots -of fair Trade ore, and No. 16 rise was now beins nut up on the most southerly one. "When, this rise' effected -"a;,'connection with fio. ,14 level, it was intended to .resume ;d-tvm>- southrat'No; 15 levol. and.to con,tin;'.",.don';? -so while the vein is enclosed . . ..ir.uilc. country rock. ') . HEJIP. ,), • ■Tile department of Agriculture, Industries apd. Commerce.has received the following cablegram, (cancelling the message .published'yesterday) from the High Commissioner for. New, Zealand ('London) . "Hemp market nuiet, and small busi.ness doing., .Manila .selling slowly, Government :price,' Refer to-iny telegram of January .10.'(published:. January 18, 1919). Government have decided.'.to allow revised'price apply /to allotment made on or after November 1. New Zealand, small business has been done fair, high-points £55, £M, but demand is limited. Sisal stocks -in Mexico, 380,000; Bast Africa stocks large."