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Auckland Star, Volume LVIII, Issue 91, 19 April 1927, Page 10

Werahiko had struck it rich, and McCombie and Leo, temporarily abandoning their claim, followed once more the impelling force of the lure of the precious metal. In their absence came ' two Coromandcl prospectors —William Nicholl and Robert Majurey. The former is still pegging away at Waitekauri, and is one of the very few surviving old-time prospectors. The advent of Nicholl resulted in the forfeiture of McCombie's area, and the taking up of a number of claims on the line of the big lode. Small batteries were erected, but the "expert"' still continued to condemn, until March of lss:{, when the Martha Company gathered in the various claims and made them one family. The first four years saw .">(1.000 tons of ore treated for ail average yield of 13/ per ton, and eventually the mine was let on tribute to \Y. ilallis and party.

Enter, the Waihi Company. In IS','o ilit? mine and plant passed into the hands of the Waihi Company, and from that time it entered upon a new phase of life. The lirst superintendent sent from London was Mr. Henry Dale, who died less than twelve months from the date of his appointment. and his successor was Mr. 11. J*. Barry, who resigned at the end of September, 1013, and was followed by the present superintendent, Mr. E. Gripper Banks. It must be remembered that the Waihi Company had been in existence for three years prior to purchasing the Martha claim in ISI'O. Tlie birth of the company in ISB7 and its subsequent operations provide a most interesting retrospection. The first prospectus showed that the capital was £100.000 in 100,000 shares of £1 each, and that the company had been formed for the purpose of acquiring and working a group of gold-mining properties at Waihi referred to as the "Lnion,'

"Amaranth," "Trio." "Rosemont."' "Nelson"' and "Winner."' in one compact block <>t" l(iO acre-. The prospectus (copy of which is held l«y Mr. Banks) contains reports on the various reefs, and also reports on the property generally bv Messrs. D. H. Bavldon. <ieo Wil son, Thos. Kneebone. P. C. Hansen. J. H. Moore, and by the mine manager. ,T. \V. Walker. The terms of purchase were £44.667 in ca.-h, and 33,333 in fully paid shares. Published reports from time to time provide good evidence of the progress of the company. On July 20, ISSS, the secretary (Charles Akers) reported that "the average value of the lodes is believed to be at least £10 per ton." and on the 4th August it was reported that the or» taken from an IS-inch vein in a winze on the Rosemont Smithy level had assayed £83 per ton! The directors received a report —on December 19. ISS'.t. to the effect that "Ten head of stamps started. Mill a complete mk-coss. The whole battery -tarts about the beginning of January," Jllo be concluded.) ;