THE WAIOTAHI MINE.

Auckland Star, Volume XL, Issue 160, 7 July 1909, Page 3

THE WAIOTAHI MINE.

, SHAKPiKiSE IN SHARES.

MVE SHiri/INGS IN 24 HOURS.

The advance in Waiotahi shares yesterday afternoon was followed by a slight ■ decline' at' the first call to.-day, sales being made down to 5/3' as no news had come to hand. At * the noon call, • however,; quite a change came over the ecene, and there was-very free buying, with the resμlt that Waiotahi shares rapidly advanced from 6/6 to 8/6, at which figure there was still a buyer when the call closed. -.- •

One of the brokers sarcastically remarked: "The telegram seems a long time coming, Mr. Chairman." Chairman: "What do you propose to do?" . ... «

Mr. Masfen: "The position is. simple enough. You can see from the buying , that there can be no news about." (Laughter.)

The Chairman said that he considered the Press were not up to date. The papers had representatives on the field, and yet no news was received regarding developments in the Waiotahi mine. It was quite evident that the manager did not think that ■ a few colours of gold seen warranted a telegram.

A Broker: "Seen on Saturday night." Chairman: "No, on Monday night. Evidently he did not think it of sufficient importance to telegraph, and.as he wrote by mail which came round in the train, the information did not reach the office until yesterday afternoon. Of course private information always gets ahead of either official or Press news in these matters."

A Broker: "The secretary had no fur-1 ther informAtion up to about noon today." Mr. Hull: "The directors should ask some of the brokers for news regarding their mine." The Chairman: "There are two channels by. which any news should have come —through the office and by means of the Press." The discussion then closed. In a letter received to-day by the secretary of the Waiotahi Company, the manager, Mr. Warne, reports:—"No. 4 level: In the drive on the hanging wall rib of the Main Reef the quartz is from 4 to 5 inches in width, and we have today seen good dabs of trold." A representative of the "Auckland Star" waited upon Mr. C. Hudson, chairman of directors of the Waiotehi Company this afternoon to ascertain the cause of the rapid rise in shares. " I know of nothing," said Mr. Hiidaon, "beyond what the secretary sent up this morning to your office. His instructions are to furnish the news immediately upon its receipt. That letter came this morning. There may be another when the Wakatere arrives." " Can you tell mc what time yesterday's letter reached the office?" Mr. Hudson: " I think it was about 3 o'clock, or a little after." Mr. Hudson then rang up Mr. G. S. Kissling, and said: "3 to 3.30." Then followed: te l have not heard of any telegram." Mr. Hudson turned round, arid said: "Mr. Kissling informs mc he has just posted a telegram from the mine manager:—'No. 4 level, from the lode on the hangingwall rib selected 201bs. of picked atone,' That is the frrst I have heard," aadded Mr., Hudson 'to the reporter. • : ■ - ■ ■ ; Shares sold l up to" 9/10 on the Exchange after the telegram was posted. THE NEW DEVELOPMENT. PICKED STONE LOOKS WELL. (By Telegraphs—Own Correspondent.) -, THAMES, this day. The Waiotahi development is at No. 4 level on the hanging wall rib, which is being stoped. This portion is about seven inches wide. The picked stone looks well. Other portions of the mine are unchanged. There are no fresh development* at the No. 6 level. It is hoped that the presence of a gold-bear-ing rib on the.hanging wall will have a good effect on the Mariner lode.