Notes from Reefton.

Otago Witness, Issue 1650, 7 July 1883, Page 12

Notes from Reefton.

(FROM OUR OWN CORRESPONDENT.)

Bbefton, June 28th. Although orders for shares still coniinue to come in, transactions during the day have been veiy few. Local holders evidence no anxiety to sell, and the only chance the brokers have is to wire all round the country for stock.

The half-yearly meeting of shareholders in the Rainy Oreek Company was hold yesterday evening, at the office of the Company. The following directors wero elected :— Mestrs H. Graham, Jas. Aitken, J. Kiltrour, Jaa. Conolly, and Chas. Fraaer. The ordinary routine business was transacted The mine manager is now cross-cutting for the western reef. The trestle-work for fcbe aerial tramway of the Globe Company is now finished, and the steel-wire rope importi-d from England will shortly arrive here, it having left Dunedin yester-iny for Gicytuouih. The Keep-it Dark crushing has been interrupted during the repairing of the race, but the mill ia again in full operanon. The weather seems now taking up, after some damage has been done. A small dam of the Fiery Cross Company broke away during the heavy rains, but the loss is comparatively trifling. The Specimen are inviting tenders, to close on Saturday, for the conveyance of machinery from the seaboard to the claim. Rmefton, June 29th. The weather, which has been very unfavourable of late, is now moderating, and works in connection with mines are again resumed. Orders for stock have been uot a few to-day, but as sufficient money is not offered, only vary few sales have bcon made. Darks are now quoted at 65s bujers, seller* 57a 6d; Welcomes cannot be secured here much under 130s ; Fiory Crosses have not moved since last quotation, but are firm at that. Trie prices oftered for other stock do not come up to the expactation of holders, who seem v ry firm at their fljuus. A contract for 2501t of the Black's Poiut low-level tunnel extension was let la-it night at 35s per foot. Tho pure is considered low, a-t the sizo ia lartre enough to admit t«o linen of mils, and as at tho very (.•oiAmencemen*. 1100 ft of trucking will have to be done. While this contact i» in progress arrangements will bo made to obtain air- compressing' machinery. The Hopoful Extended started crushing to-dny. liEBJTON, Juno 30. An active demand exists for shaies in a great number of eompauies, but owing to the reluctance to sell, even at improved rates, transactions are not bo numerous as the demand would warrant. The recent improvement in the Welcome, Dark,

Fiery, and other comranies has brought expactationa to a higher btandarc 1 than will meet tho views of investors As the demand incrca-et, ro does the value of shaies inciease m the opinion o{ sellers, who consequently r-.'i'< Jitghe< pncei than they would willingly h-.ve ta'<en a ti-w days bince. The local hoideia, luvinir ha i to tide over the period of depression, are e\ idontly bun: up .n letting buyers pay for the worry and anxiuiy to which they have for a time been bu'ij ct. It is tr>ie fh*t local enterprise Jnatemlly nested in getting over the existing difficulties, which arose from the mad speculation which obtained here during the so-called spun, but ncverthele-s it must be borne in mind that all outside aid to develope our rcnourcea wa3 not altogether withdrawn. Men who understood our position sfcill continued to contribute. Whether this action waa prompted by choice or otherwise doei not now matter, but the fact remains that considerable assistance was afforded to the field by outside capitalists when aid was needed. It » ould therefore only be fair to at>sist outside investors now, when mitiing inaf.terd are improving, in evrry reasonable way, by giving them a cha cc to recuperate themselves for previous losses. This cannot bo done by ru-hiug up Bhitren from day to day as the demand increase*. Home consideration should bu given to intrinsic values, and general satisfaction would surely c sue, and resilt to thu benefit of tho di trict The h (.ep-it-Dark is cleaui'iir up for the month thia evening. The re urn of the week's amalgam ia 6860z from 170 tons. This, of co jrse, includes the boxes, but the yield is nevertheless very .-atisfaotory so far, and hharen are eagerly sought at advancing rates. Toe battery wa< Mopped during thu repairing of the race, otherwise r.b ut 200 tons would have been crusned. 'i he low level is being pushed asbeid with tho aid of the rouk-borera, which are working well. The retorted gold for the fortnight is 3380z.