THE GOLDFIELDS.

Auckland Star, Volume XXXVII, Issue 195, 16 August 1906, Page 2

THE GOLDFIELDS.

I waiotahi. j ;'; J 1 (By Telegraph.—Own Correspondent.) TSAMESJ this day. | A sudden demand set in for Waiotahi shares this morning, and the price rose to lo.nl sales at £ G 10/. The demand i came principally from Auckland, from whence it was "learned that persistent rumours were current that important developments had taken place in the mine, and that good gold had been struck. 1 immediately instituted investigations, and ascertained that, though a satisfactory development had occurred in the mine." and in the main Waiotahi lode at No. 5 level, nothing had transpired to warrant the circulation of a sensational report, or the marked increase in value of shares. The new devci.o.mcnt, if such it can be called, is t! -t in the drive going east on the Waiotahi lode colours of gold have been seen in the reel". It Yvill doubtless be remembered that the main reef at this 1 point had narrowed' to about lift, in i width, while the quartz had a kindly appearance. No gold had been seen ! yesterday. However, some colours of j gold were seen in the quarto, but, while 1 the improvement was undoubtedly satisfactory, nothing to warrant any sensational developments is expected. The point at which the gold was seen would be about 190 ft or ro from No. 1 winrxv In rhe course of a communication forwarded to the secretary of the company. Mr. George VY 7 arne (manager of iho Waiotahi mine) mentioned this development, but it was not considered of sufficient importance to justify despa telling of telegrams, and seeing the very sensitive condition in which his stock is at present, the general opinion is that the action of the manager was a wise one. Despite ali precautions, hew- ; ever, exaggerated reports are circulated, \ and are probably magnified by some of those personally interested.