AUCKLAND MINING MARKET.

Hawke's Bay Herald, Volume XXXII, Issue 10646, 28 June 1897, Page 3

AUCKLAND MINING MARKET.

(PER UNITED PRESS ASSOCIATION,)

SLEGRAPH.)

Auckland. Sstnrdoy.

A meeting of directors In the Rutsell Waltekaail Company was held to con* alder the offer received for a working option over tb.B property. It was proposed to expend £1000 In developing the mine for 12 months. The directors deolded not to give an option on the terms offered. It is stated that an important develop* ment is taking place In the Walhi mine, ore aßtaylng worth from five to six ounces per ton being obtained from the reef towards the Grand Junotion end of the property. A speolal general meeting of shoreholders of the Sheridan Goldmlning Company, was called for the purpose of passing a motion that the company go into liquidation) tbe property having been pnr- ! ohased by a Napier syndicate, but I a sufficient number of shares nofi being represented the meeting adjourned until Friday. In answer to questions the legal manager stated that no hitch had occurred In connection with the ueKOll'itions ; £6000 oash would bo available when the documents were completrd. He further stated that the purchasers would on the completion of tho transfer pay all working expenses as from the Ist.