THE GOLDFIELDS.

Auckland Star, Volume XLIII, Issue 136, 7 June 1912, Page 6

THE GOLDFIELDS.

(Received 10-30- ajn.) LONDON, June 6. ' Following were closing rates cm the Stock Exchange to-day:—Waihi: Buyers 36/3; sellers. 38/9. AIDS TO PROSPECTING. (By Telegraph.—Own Correspondent.) PAEROA, this day. The Hines Department ha-ving granted the sum of £50 to Mr. W. S. C. Niccol to drive 200 ft in the Last Chance special quartz claim to Waitekauri, the Ohinemuri County Council decided to grant a further subsidy of 2/<3 per foot. The Tellurides Proprietary, Ltd., were granted a. subsidy of 5/ per foot •by the Government and 2/6 per foot by the council as an aid to prospecting on the conrpan} T 's property at Maratoto. The Maoriland Oold ilining Company applied to the County Council for a grant of £500 for development work on their property at 'Waitekauri After considerable discussion, in which it was disclosed that t!ie company had already received £350 from the Council in subsidies, it was resolved to hold the matter over for a month. NORTH PRINCE OF WALES. The first annual meeting of the shareholders of the North Prince of "Wales Consolidated Gold Mining Company, No Liability, was held on Tuesday, at the office of the company, Tyrone Buildings. Tihere was a good attendance of shareholders. Dr. Pabst presided. The following officers were appointed for the snsuing year:—Legal manager, Mr W. H. Madill; auditor, Mr W. J. S. Thompson; directors, Dr. J. C. Pabst, Meesrs W. S. Whitley, K. G. Clark, H. C. Choyce, with, power ■to add one to their number. Dr. Pabst explained the situation of the mine, and pointed oat that owing to a new ftnd in the adjoining property the prospects of the company's mine had considerably improved. Instead of sinking a shaft, the provisional directors had decided to open ont fonr crosscuts with the object of intersecting tie reef channel. ■These crosscuts were in progress. In answer to a question, the Chairman stated that the amount of funds available was abont £7fi. Owing to the enhanced prospects of the mine 15.000 share were held in reserve, and the directors would shortly decide whether it would be advisable to issue these shares or maie a call en "the capital of the company to provide funds for -working expenses meantime. MINE MANAGERS , REPOBTS. Oecideo-tal ConsoKdrrted.— Gold is still seen in the quartz broken in the stopes, and a littje more picked stone has been selected. A slight break-down occurred to the oil engine, but necessary repairs have been effected, and all is in working order again.