GOLD MINING NEWS.

Greymouth Evening Star, Volume XXXI, 14 February 1901, Page 4

GOLD MINING NEWS.

55 It is stated that Messrs M'Grath and Moynihan's big claim at Pug Hill Kumara continues to give good returns. Messrs M'Millanand Thompson are making splendid progress with the building of the Perry's Reward pontoons and expect to have them ready for launching in about three week's time.

The boring on the Greenstone G. D. Company's claim has proved the bottom at 27 feet. This should bo considered highly satisfactory. At a sale of forfeited shares held at Reefton on Saturday, Alpines were disposed of at from4dtos|d, and Snowy Creeks were passed in. Buller Junctions wore also submitted and changed hands at 17a 6d, aud Reefton Uniteds at par. From the rapid progress that has been made with the contracts for the Day Dawn Company it seems as if thia Company wili be the first to get to work at the Boss di-strict. A large number of shares in the company are held locally. If the present weather continues for another week the water supply for the Kumara and Back Creek sluicing claims will be done. Recent washing at Back Creek have been well up to the average and with a steady supply of water the field would be among the best in New Zealand.

Mr Spencer Booth, sharebroker, of Wellington, says an exchange, intends leaving for London at tho end of the month, with the object of introducing dredging ventures to London capitalists. He takes the option of several extensive dredging claims on the West Coast, which have been throughly tGsfced. Mr B 30th will do a good service to the industry if he-can induce the investment of British capital into it. The Waiho Hydraulio Sluicing Company's property is about to change hands. Mr P. J. Perry, the minaging director of the company accompanied by Mr J. Park, attorney for the debenture-holders, are taking up the property and proceed south to-morrow. Mr Park will fake formal possession on behalf of the now owners, and it is understood as soon as the work of re-constraction is completed, mining operations on an extended scale will be re.-umed. At present a portion of the ground is being worked on tribute. The following extract is from tho Mines Record. "It has become evident to all the dredge companies that their machinery is too light and improperly proportioned, and that there is a great expense in making repairs, as the dredges in mostly all cases are in remote p-aces a long distance from any railroad. In view of this and many other facts, it is evident that there is a necessity for improvements in elevator bucket dredge machinery."