MINING.

Otago Daily Times, Issue 12482, 13 October 1902, Page 6

MINING.

Mr Laurence Ryan, Alexandra, reports that the Molyneux Hydraulic dredge obtained 720z 4dwt for 128 hours' work. The ground continues about the same. The secretary of the Rise and Shine Gold Dredging Company reports a return of 440z fdwt for 100 hours' dredging. The dredgemaster states prospects are still about the same as previously. The seoretary of the Grand Junction Company reports a return of 48oz for 120 hours' dredging. The dredgemaster states that the drift is bad. The dredgemaster of the Golden Gate dredge reports a return of 340z for six days' dredging. The river is medium. The secretary of the Old Dunstan Company reports a return of 30oz for five days' work. The prospects are good. The dredgemaster of the Riley's Beach dredge reports a return of 18oz for 135 hours' dredging. The dredge is now at the top pegs of her claim, tnd before moving down will be stopped for a j week or so to have the suction pump fixed j Dn the dredge, after which she will at once i resume work. The secretary of the Mokoia Gold Dredging j Company reports a return of 30oz 3d'wt for 132 i hours' work. The dredgemaster reports that the river is rather high. The secretary of the Manuherikia Gold Dredging Company reports a return of 20oz 16dwt 12gr for 77 hours' work. The dredgemaster states that he stopped work on Thursday as he could not beat the drift. The secretary of the Golden Rivei Gold Dredging Company reports a return of lloz I4dwt for 92 hours' dredging. The dredgemaster states that the prospects are good. The dredgemaster of the Electric No. 2 dredge reports a return of 7oz while opening out. He states that the prospects are now improving. The dredgemaster of tho New Royal Maori dredge reports a return of sJoz for four days' dredging, during opening-out operations. A dividend (the nineteenth) of Is per share has been declared by the directors of the Tuapeka Dredging Company. The secretary of the Gabriel Gold Dredging Company reports a return of 1707. sdwt for the week. The dredgemaster states that he has a ' good face opened, out, and also that the dredgo I is working steadily. The dredgemaster of the Leviathan dredge ' wires that, he is passing through worked j Croungi (

of the Globe dredge reports ■iEjiat lie haa been engaged during the week lelipping thfi buckets, and had only 112 hours' tedging for a return of 12Joz. The dredgemaster of the Goldeii Beach Hydxaulio Elevating and Dredging Company reports a return of Boz 6dwt of gold working through, clay all week. He is now through the day. The secretary of the Golden Treasure Company reports that there was no wash-up last ■week, as the dredge is still undergoing repairs. The secretary of the Clyde Company reports , that there was no wash-up as work was only xesnmed on Saturday morning. The secretary of the Stafford Waimea Gold Dredging Company reports that dredging was to be resumed on Saturday. At a meeting of directors of the Upper Waipori Alluvial Gold Dredging Company, held on , Thursday, a dividend of 2s per share was declared, payable on the 17th inst. The secretary of the Meg and Annie Company reports a return of 360z 4dwt for 140 hours' dredging. The dredgemaster wires that ho is dredging from bank to bank on a soft bottom at a depth from 35ft to 40ft. During the last two shifts the dredge worked on the boundary of the Annie Queen claim, the lower portion of which has since been acquired by the Meg and Annie Company. The dredge got Doz 7dwt of I gold. The ground being operated, on was where | work was first started by the dredge. j The secretary reports that the returns from the Lafranchi's Freehold dredge are much curtailed by reason of the continued tightness of the ground, the quantity of the material put through being inadequate to the dredging time. As the result of- a recent official visit to the claim, it has been decided to put on a couple of grab-hooks to assist in breaking down the face, and it is expected that these will make a very appreciable difference in the outcome of gold. The ground is now well opened out. and the bottom shows a strong dip towards Tuohy's Creek, the depth of the working at that end of the cut being some 25ft. The machinery is all working smoothly, and, as the ground prospects well, the dredgemaster .is confident that he will soon be able to report better returns. Making s-undry repairs last week reduced the working time to 70 hours, the return being Boz 16dwt. The dredgemaster of the North Beach dredge (Mr James Gilroy) reported on October 3 that the return for that week was obtained for 93 hours' dredging from the " back lead." The formation of the ground was much about the same, with a little timber in the old worked ground. He stopped dredging on the previous Friday and Saturday to put in the new bottom tumbler and to clean out the sump hole in which the elevator trap worked. He intended to work on the same face last week, and if possible to continue working right up to Saturday and retort on the Monday, provided he could keep the machine going. The ladder rollers have arrived, also all Hadfield's material, and only the elevator rollers were required for the overhaul. The dredgemaster intended putting two extra men on for the repairing, so as to push the work through. Ho expected the overhaul to take a fortnight, weather permitting. A telegram was received on Saturday stating that dredging would be continued until that night, and the retorting will be done to-day. | THE WEEK'S DREDGING RETURNS. During the week ended Saturday, October 11, returns were reported from the following dredges:—

DUNEDIN STOCK EXCHANGE. The share market opened brisk on Saturday, and continued active until Hartley and Rileys were passed, after which buyers and sellers could not come to terms. Alexandra Leads were in particularly good demand, the likelihood of the directors declaring another dividend very shortly probably accounting for this. Hartley and Rileys were also much sought after in consequence of the dredge getting on rich gold again. The returns so far to hand for the week compare favourably with those for the last few weeks, and must be considered satisfactory considering the unsettled state of the river. The height of the river was 4ft 2in above the normal mark at Alexandra. Notwithstanding the fact that there was no return from the Alexandra Lead dredge last week, the stock showed an improvement, the demand for them being very keen. Seven sales took place at 16s, and there were more buyers at the same price, but sellers wanted 16s 3d. Alpine No. 2 shares fell back, but Bendigoes hardened. There -was no inquiry for Davis's Bends or Dunstan Leads, nnd the margin between buyers and sellers .of Electrics was about the same as usual. First Chances receded, while Golden Beds were stationary. Two parcels of Golden Rivers changed hands at Is (3d, and more shares were inquired for at that price, the best response being Is ISA. Grand Junctions were unchanged, but there was marked improvement in Hartley and Rileys in consequence of the large return. Three sales were effected at 50s, at whioh price more shares were in the market, with buyers at 495. Junction Electrics hardened a little, and' so did Mataus, the latter of which carries a dividend of Is per share. Mosquitoes were firm, and so were New Roxburgh Jubilees and Perseverances. Riley's Beaches and Rise and Shines were both steady, -while Unitys were unchanged. Sales were made on Saturday at the following prices: —Alexandra Lead, 16s; Golden River, Is 6d; Hartley ard Riley, 50s. The following a.re Saturday's quotations, subject to tho usual brokerage: — Alexandra Lead—Buyers 16s, sellers 16s 3d.

Alpine No. 2—Buyers 15s, sellers 17s. Bendigo-Buyers 10s 9d, sellers lis 3d. Davis's Bend—Sellers 2s 9d dis. Dunstan Lead—Sellers 8s 3d. Electric—Buyers £1 10s, sellers £1 14s. Endeavour—Buyers 3s, sellers 5s 6d. First Chance—Buyers 10s 6d, sellers 12s. Gentle Annie—Sellers 7s 6d. Gold King—Buyers 6d, sellers Is. Golden Beach—Sellers Is 9d. Golden Bed—Buyers 6s, sellers 8s 6d. Golden Gate—Sellers £4 17s Gd. » Golden River—Buyers Is 6d, sellers Is 7Jd. Grand Junction —Buyers 15s, sellers 15s Gd. Great Central—Sellers 3s 6d. Hartley and Riley—Buyers £'2 9s, sellers £2 10a. Junction Electric—Buyers Gs, sellers 10a. Kohinoor (preference)— Sellers £1 Is. Matau—Buyers 15s, sellers 17s. Molyneux Hydraulic—Buyers 9s. Mosquito—Buyers 17s, sellers £1. New Halfway House —Buyers £2 3s, sellers £2 9s. New Roxburgh Jubilee—Buyers £1 3a 3d, sellers £1 ss. No Town Creek—Sellers £1 Bs. Old Dunstan—Buyers 2s, sellers 3s. Perseverance —Buyers £1 Bs, sellers £1 12s. Prince Arthur—Sellers 15s. Riley's Beach—Buyera 19s 9d, sellers £1 Is. Rise and Shine—Buyers £1 3s 6d, sellers £1 is. Sailor's Bend—Buyers 15s, sellers 19s. Unity—Buyers 9s 9d, sellers 10s 3d. Victory—Sellers 9s, Y'aimumu—Sellers 15s. Waimumu Central—Sellers 6s. Waiora—Buyers Is, sellers 2s. . Mining. v Alpine Extended—Buyers 3s, sellers 3s 9d. MAJESTIC GOLD DREDGING COMPANY. The 'fourth annual general meeting of shareholders in the Majestic Gold Dredging Company -was held at Lawrence on Wednosday last, and was attended by 10 shareholders, Dr Newell (chairman of directors) prjsiding. 'Ihe Chairman, in moving the adoption 'of the balance sheet, stated that the dredge had worked almost continuously throughout tho year, winning during that period 9970z of gold. No serious breakages to the machinery had occurred, thanks to the excellent care taken by the dredgemaster. About 30 acres additional ground had bee'i added to the claim, and though it wouli be necessary to procure an elevator, it was expected that tho results i would amply repay the company. _ | Mr John Thompson seconded the motion, ! and in doingi so drew attention to the enormous ' amount of the coal bill, and urged that immediate steps should be taken to lessen the ; consumption of coal. j Mr E. M. Wakefield supported Mr Thompson, and spoke to a similar effect in regard to ' the proportions of tho coal account. The Chairman explained that the boiler (Marshall's make), while excellent in every other respect, was unsuited for using lignite, hence the large consumption. It ought also to be remembered that the dredge had worked nearly full time during the year In reply to Mr J. Thompson's inquiry as to the cost of a new oolonial boiler, the secretary thought about £300 or £4')o. Mr H. Stokes expressed himself in favour of obtaining a new boiler if tho coal bill would be reduced by one-third, as stated by Mr Thompson. The motion for the adoption, of the report and balance sheet was then put to the meeting and carried. Mr Thompson moved—" That it be an instruction to the directors to seriously consider tho immediate necessity of procuring a new boiler."—Seconded by Mr E. M. Wakefield, and unanimously carried. On tho motion of Mr H. Stokes, seconded by Mr Thompson, Mr A. Blair was re-elected to office on the directorship. Mr A. M'Lean was also re-elected auditor, at s fee of two guineas, WAIMUMU QUEEN GOLD DREDGING COMPANY. The annual meeting of the Waimumu Queen Gold Dredging Company was held last Tuesday at Gore. The Chairman (Mr P. Wallis), in moving the adoption of the annual report and balance sheet, stated that at the time the last report was "made up the tlredge fiad been, in a pretty bad state of repair, and a sum of £500 was expended in overhauling her. This expense had been fully justified, as since the overhaul an average return of 360z per week had been obtained. Tho company was still £180 in debt, dating from the previous week, but now the dreclge was in thorough working order, and i no repairs would be required for some time. : About 10 or 12 weeks' work had been missed. : The boiler was not working particularly well, thus accounting for extra fuel. Unfortunately during the year a horse had been lost, and this had been charged to the coal account. The total loss in this account was £103. He did not think the boiler would require so much coal in the future. Lignite was now being used at present, costing 10s per ton delivered. The dredge was better supplied than any other on the field, and during wet weather they had been able to work full time, while other dredges had been stopped. £10 per month would have to be paid on account of the Waimumu water question, besides other expenses in connection with the same. At one time they had been compelled to cease operations on account of an injunction over this matter, but this was happily now settled. The motion fo? the adoption of the report and balance sheet was carried. The retiring directors (Messrs Wallis and Bowler) were re-elected, and it was resolved that the directors' fees' for tho year be the same as last year. Mr R. Dewar was re-elected auditor. NOTES PROM REEFTON. (From Oca Own Correspondcnt.) REEFTON, October 11. Alpine.—The mine manager reports.—"The winze has been sunk Bft for the week, making the total distance 42ft. The width of the stone in the winze is 4ft 9in in the south end and 3ft in the north end. Tho reef is still going very flat, making the sinking slow. The quality of the stone is very good—equal to at least 30dwt to the ton. The eastern level is being driven north, on 18ft of stone. Four m£n are taking it in a face since yesterday morning. After I get a little more room to stow the mullock I will drive south as well. In the north end of No. 11 .from the shaft the rise is up 25ft. We are through the worst part of the old stopes, and will got a little stone from here, and more, as we open it up. The stone we are getting from this end is of fair quality. One hundred tons have «one to the battery." Dredging matters are very dull, and there is little chance of shares advancing for some time. The Welcome dredge is at the head of the local list with 2Soz. The ground continues to be rough. Tho Amikitea dredge had a trial run during the week, when thing worked smoothly. By the terms o: the agreement Mt Ritchie, the contractor, has to work the dredge for a month. A tender for carting the Boatman's Creek Company's machinery to the claim has been let, and work is to be started immediately. Tho company is pushing on the work vigorously. The Buller Dredging Company are waiting for a rise in the river to take tho dredge over the last fall on to her claim. NOTES FROM ROXBURGH. (From Our Own Correspondent.) ROXBURGH, October 11. "The Teviot dredge is still repairing, so there has been no wash-up this week. The elevator buckets are being rebushed. The Ettrick dredge has also been repairing for the last few days. The Gold King dredge is idle at present, the manager waiting for a new spur-wheel. For the six months ending 30th September tho Golden Gate Company have paid 31s 6d in dividends, having won as much gold for the six months as was obtained for the previous 12 months. The Roxburgh labile? dredge is still on good wash, and obtained 102oz to-day for the week. THE WEST COAST. (From Our Own Correspondent.) GREYMOUTH, October 10. There will be no very large returns this week, but, with the exception of the Reeves's Proprietary, Leviathan, and Leviathan Freehold, all the returns leave a good margin of profit. The Pactolus Company got 620z 2dwt ifor both dredges. The larger"dredge is not yet out of worked ground. The Callaghan's Creek dredge obtained 20oz for 120 hours. The Greenstone Junction dredge burst a steam pipe on Friday afternoon, and consequently lost some 18 hours from the uaual dredging time. The return, however, of 30oz 9dwt 12gr for 314 hours shows the ground to be highly payable. The Prince of Waleß dredge obtained 3Goz sdwt for 123 hours. The wash is improving. The returns from tho Buller River are: — Welcome, 28oz for 121 hours; Premier, 2Soz for the week; Buller Junction, 250z for 183 hours. The wash in the three claims is improving. The Buller J.unction is dredging to ground that is reckoned to bo worth from 350z per week. The Kohinoor dredge obtained 250z 9dwt for 65 hours. The wash is the richest that the dredgo ever worked, and record returns are expected. Large boulders militated against tho Greenstone (Three-mile) dredge obtaining a large return. The yield of 21 oz lOdwt for 113 hours is therefore satisfactory. liie Reeves's Proprietary dredge obtained 1402 lOdwt. The dredge is still l in rough and tight wash. The Leviathan dredge obtained 9oz 12dwt 9gr for 114 hours.

The Leviathan Freeholds' return is 9oz for 160 hours. Both the Leviathans are still in mud. In the Leviathan. Freeholds tho wash is gradually thickening. The North Beach return is not yet to hand, but is understood to be the largest yet obtained by the dredge. The ground ia steadily improving. The Blackwatcr Lagoons dredge is experiencing trouble with the hard ground. For the week ending September 27 lloz were obtained, and for tho period ending October 4 another lloz. The claim is not yet fairly opened. Tho directors of the Reliance Dredging Company have declared a dividend (.the fourth) of Is per share.

Oz. dwt. gr. Hartley and Riley, Cromwell, 138 hours .. .. 372 0 0 Electric No. 1, Cromwell .. .. 241 5 0 Cromwell. Cromwell, 110 hours 182 9 0 New Roxburgh Jubilee, Roxburgh, 120 hours 102 6 0 Earnsclough No. 2, Alexandra, 126 hours .. 75 1 6 Molyneux Hydraulic, Alexandra.' 328 hours 72 4 0 Junction Electric, Cromwell .. 72 1 0 Grand Junction, Kawarau River, 120 hours •.. .. 48 0 0 Bendigo, below Alexandra, week 47 0 0 Unity, Clyde, 130 hours .. .. 46 0 0 Dunstan Lead, Alexandra, HOhrs 46 0 0 Rise and Shine, Upper Clutha, 100 hours .. .. 44 7 0 Enterprise No. 1, Alexandra, wk 44 7 17 Alpine No. 2, Cromwell, 45hr3 44 0 0 Waimurmi, near Matatira, 124hrs 44 0 0 Enterprise No. 2, Alexandra, wk 42 18 4 Sneddon's Freehold, Waikaka, 122 hours 42 0 0 Earnscleugh No. 1, Alexandra, 120 hours .. . '. '38 0 0 Waimunm Queen, near Mataura, 122 hours 36 6 0 Meg and Annie, Kawarau River, 140 hours 36 4 0 New Apine Consols, Cromwell, 130 hours 34 15 20 Golden Run, Miller's Flat, week 34 4 0 Golden Gate, Miller's Flat, 6 days , .. 34 0 0 Matau, Clvde, week 33 0 0 Majestic, Miller's Flat 31 15 0 Royal Waimumu, near Mataura, 126 hours .. .. 31 7 0 Empire, Waipori (2 dredges) .. 31 4 0 Chicago, Alexandra, 114 hours .. 31 3 10 Central Mataura, Mataura, 250 hours .. .. 30 16 0 Old IHmstan, abovei Clyde, 5 days 30 0 0 Waikaka, Waikaka, 120 hours .. 29 0 0 Charlton Creek, nr Gore, 131 hrs 27 10 0 Waikaka Queen, Waikaka, 127hrs 24 14 0 Goldon Bed, Milter's Flat, 127hrs 23 1 0 Happy Valley, Tuapeka .. .. 22 0 0 Gentle Annie, Kawarau River, 131 hours 21 17 0 New Golden Gravel, Beaumont, 133 hours 20 17 0 Manuherikia, Alexandra, 77hrs .. 20 16 12 Charlton Valley, nr Gore, 128hrs 20 3 0 Success, Waipori, 139 hours .. 20 1 0 Otago, Miller's Flat 20 0 0 Riley's Beach, Cromwell, 135hrs 18 0 0 Prince Arthur, Upper Shotover, 50 hours .. .. 17 13 0. Gabriel, Tuapeka Flat, weok .. 17 5 0 Central Charlton, nr Gore, 132hrs 16 2 0 Ngapara No. 3, Nevis River, 108 hours 15 18 0 Olrig, Manuherikia, 124 hours .. 15 5 0 Waimumu Central, near Mataura, 134 hours 14 11 0 Lawrence, Tuapeka Flat .. .. 13 10 0 Inehdale, nr Palmerston, 134hrs 12 11 0 Globe, Waikaka, 112 hours .. .. 12 10 0 Spec Gully, nr Mataura, 134hrs.. 12 2 0 Inch Valley, near Palmerston, 133 hours 12 0 0 Golden River, below Alexandra, 92 hours 11 H 0 Lower Enfield, Waipori, 186Jhrs 11 0 0 Endeavour, Roxburgh, 128 hours 9 15 0 Lafranchi's Freehold, Cardrona, 70 hours 8 16 0 Waimumu Extended, near Mataura, 94 hours 8 8 0 Golden Beach, Alexandra .... 8 6 0 Electric No. 2, Cromwell .... 700 New Royal Maori, Upper Clutha, 4 days 5 10 0 Total 2496 9 21 The West Coast. Pacfcolus (2 dredges) 62 2 0 Prince of Wales, 123 hours .. 36 5 0 Erickson's Reward, 118 hours .. 35 17 0 Greenstone Junction, 114 hours 30 9 12 Mokoia, 132 hour3 ,30 3 0 Trafalgar, 97 hours 28 3 0 Premier Buller, 186 hours ...... 28 0 0 Welcome, 106 hoiirs 28 0 0 Kohinoor, 65 hours .. .. .. 25 9 0 Buller Junction, 183 hours .. 25 0 0 Three-mile (Greenstone Creek), 113 hours 21 10 0 Callaghan's, 120 hours 20 0 0 Aldinga, 126 hours 17 7 0 Reeves's Proprietary, 120 hours 14 10 0 , Blackwater Lagoons, week .... 31 0 0 Leviathan, 114 hours 9 12 9 Great Woodstock, 123 hours .. 9 11 0 Leviathan Freeholds, 150 hours 9 0 0 Total „ ., 441 18 21