NEW ZEALAND MIKES.

Press, Volume LV, Issue 9941, 21 January 1898, Page 6

NEW ZEALAND MIKES.

(FROM OUR "OWN CXJWUMPOKuIST.) "' LONDON,December 10* ' " Daring his short itay i» Bnglsed _fa> _. A. Gordon has been- duly interviewed by financial and mihing papers; a-ri'his given a good deal of information »bout New Zee* laps and, its mines.. ]In .the cparstyof'one interview, being asked his opintop: a* to the future of New Zealand mines, Mr-GordoQ said:—"l think there are .some remarkably good .mines in New Zealand, but- care and judicious selection are necessary if capita—sts here are not to lose- their_ money. The London people ought to be far more careful, and get mon beyond suspicion to report; upon properties before they put their money into them. During the • boom timer here many men without a penny piece used to raise money from storekeepers and others in the colony by simply pegging out - the vicinity of known properties,. and reports were sent home by people who had no mining experience whatever. Reports, in fact, were made to order. Such a thing as a boom has a deterring effect, not only in New Zealand, but in this country, for it generally results in worthless properties being foisted on the investing public. What we want to develop the mines and prove them at depth is English capital, and I am convinced that carefully selected properties wilt pay well. The Government is doing all that it can to advance the industry, arid New Zealand is bound to become one of the great gold-producing countries in the Southern Hemisphere." A deadly dull week has to be recorded so far as New Zealand mining shares 1 are concerned. Wherever any alterations did occur in them the change was for the worse. To day Komate Reefs, Hauraki, Taitapu, Waitekauri Extended, New Zealand Joint Stock (Founders'), and even Waihi bad a downward tendency, and all the City experts tell mc there is not the''remotest chance of any revival until after.the N** Year at the earliest, while even then everything will depend on the latest news from the colony. It seems that the scheme for the amalgamation of the Waitekauri Extended'" _hd Victor-Waihou Companies has fallen through, although no official notification to this effect has been published. On enquiry at the offices of the Companies I was in formed to-day that finding the majority of the shareholders were opposed to the scheme the Directors had abandoned the idea. In view of the fact that the adjourned meeting to consider the proposal, when of course a definite vote of the shareholders will be taken on the subject, does not come off until Wednesday next, thi9 intimation rather puzzles mc, and I asked what means had been adopted for ascertaining the views of the shareholders, seeing that their vote had not yet been taken. But to this query I was unable to obtain any reply! All I could elicit was that the majority of the shareholders were found to be strongly adverse to the scheme, and that therefore it had been dropped.