PRONOUNCED REVIVAL AT THAMES.

Evening Post, Volume LXXVII, Issue 107, 7 May 1909, Page 3

PRONOUNCED REVIVAL AT THAMES.

P»EFLECTED IN SHARE MARKET. RATHER PREMATURE. [By Telegraph.—Speoial To The Post.] AUCKLAND, This Day. A very pronounced revival in mining has taken place in Auckland during the last few days, the effect of which has been reflected in the share market. The recent favourable developments at Waihi and the prospect of an early commencement of the work of developing the deep levels at the Thames level have naturally had much to do with the improved outlook, and the announcement that the Queen of Beauty shaft is to be unwatered to the 1000 ft level has created a very hopeful feeling in regard to the Thames field. It was reported yesterday that the companies operating within the drainage area had come to an agreement as to the putting in of a deep level crosscut, but this statement was rather premature. The decision of the Thames Drainage Board to pump the water out of the Queen of Beauty shaft was based upon a cause that has not been disclosed. It ir thought, however, that the May Queen Company intends to commence work at the deep levels. This company and the Waiotahi are the oidy two that have so fay signified fheir acquiescence in the scheme submitted to them by the deep le%els committee. There is reason to believe that the other companies concerned (the Victoria and Saxon) will ccme in with the others. Should no hitch occur, the exploitation ot the Thamss deep levels, which has been the main hope of the field for years, may therefore be in hand before long. Ihe prospects of this caused the shares of all the mines within the drainage area ti rise to-day.