A number of reasons: Not all Maiar were of equal power Sauron was clearly more powerful that Curumo (Saruman) or Olorin (Gandalf). Secondly, it was not the purpose of the Istari to tackle Sauron head-to-head, but rather to advise and counsel his enemies.

:Why did he not make ring-wraith's out of the dwarves also? 16 is better than 9.

He didn't because he couldn't, the effect of the Rings on Dwarves was different to their effect on Men. The Dwarves did not fade.

: Did Sauron hve power over the Balrog of Moria?

It depends, what do you mean by "power over"? I doubt he had any ability to magically coerce the Balrog into doing something it would not have wanted to do. But Sauron was a very clever schemer and strategist and was not doubt capable of bringing the Balrog into his schemes - by fair means or foul.

: The Ring is what woke the Balrog in Moria right?

Tolien is undecided who awoke the Blarog. In one place he says that the Dwarves awakened it when they disturbed it, elsewhere he says that Sauron (not the Ring) had already awakened it.

: If so would he have took the Ring for his own? and if he took it for himself could he overthrow Sauron?

Had the Balrog gained the Ring, he would have been a formidable oponent for Sauron. Tolkien says somewhere that only Elrond, Galadriel and Gandalf would have been powerful enough to defeat Sauron had they taken the Ring. But I am tempted to add Saruman and the Balrog to that list.

: How did Sauron come away with thr Ring after the sinking of Numenor?

Simple. He didn't take it with him. He took the Ring off and left it behind in the Barad-dur.