MONTHLY SUMMARY FOR Europe and America.

Auckland Star, Volume XXX, Issue 278, 23 November 1899, Page 5

MONTHLY SUMMARY FOR Europe and America.

f OUR HOME LETTER.

AUCKLAND, N.Z.,

THURSDAY, November 23

Before another month has elapsed I fte triennial election of the House of Representatives will have taken place, >md there is every reason to believe Dhe Seddon. Ministry will be returned to power with a substantial majority. The Premier has stated that the Hon. 3. G. Ward, ex-Colonial Treasurer, is 'to be reinstated after the elections. The Hon. John McKenzie, Minister of Lands, who returned from London on jfovember 14, has intimated his intention of again contesting the Waihemo geat, and it is gratifying to his friends to know that his health has so far improved. The Hon. A. J. Cadman, Jlinister for Railways, and the Hon. Thos. Thompson, Minister, for Justice, Jiave declined to stand, but other members of the Cabinet will again seek rejection.

A decidedly better feeling predominated on the Exchange during the. past jnonth. and many lines, both Standard and mining stocks, improved in value. The most noteworthy advance in: price was in Waihi shares, which sold at £10, and are still wanted at the same rate. This is a rise of no less thanf£l 15/ per share during the month, making a total increase in the capital value of the. company of £ 560,000 in about 30 days. This is the • outcome of the discovery of reefs recently, which increased the company's' ore reserves, added to which additional crushing power is-in course of erection, and the directors propose to' increase the rate of dividends in the future. Another £32,000 will be distributed by this'company in dividends on the Ist' of December. Adjoining properties have also received more attention, shares in' the iWaihi-Grand -junction Company having during the jnopth' advanced from ■ buyers 21/6 to ■0, : a, rise of 7/6.'- JThe .lqcally-owned. .jaines, such as tJbe Waihi .South and Waihi Extended, also doubled their prices, and it w-ouM seem as if greater attention will be paid to the Waihi district in future., The New Four-in-Hand, a locally-owned company, , this week paid its first dividend Of threepence per share, which' is satisfactory *$j|i t'fii }jsi-i! WW $ rsls &0. '■tJjV'_W<3.won from the mine also dur- ' i_r |he ye?r cleare^off A liability of ifM," axv'd' the 407 t'ohs^oi ore'treated' go far averaged over £8 per ton. The new field discovered atKapowai, Mer : ciiry Bay, continues to be favourably spoken of, and very rich ore has been sent up from the Welcome Jack mine, from which a trial parcel of five tons yielded over £500. The prospectors are also on rich gold, and intend sending ten -tonsZp .Kuaotuhti 'for treatment, which is"- expected ■'. to prove equally, rich. A large number, of claims have been pegged out, and gold-bearing reefs have beeh discovered in several. of them already. . The old Kapanga-Conrpamy. ;at-Coroma ndel, ___£a____^^ | but that from the Bdyal Oak was very poor, as no picked stone, was treated this time. The richness of the pockets at Coromandel is ' further illustrated !by the fact that 811b,s of specimens from the Bunker's Hill mine'yielded |£353, and 1301bs from the Hauraki !_sso6iated £212. Amongst Karangalake companies the N.Z. Crown Mines las now demonstrated its claim to the r premier position as a bullion producer, the return last montfh being over [£700oZ Steady- Returns also continue to'be made by the N.Z. Talisman Company;. In Thames mines there is little aew to report beyond the fact that more satisfactory returns' are ' being obtained] from both the * Slay ' Qtieeu and Moanataiari Companies. The gold returns this month are again satisfactory, beifig aftailt &55.0-0Z