PUBLISHED TRI-WKEKLY. FRIDAY, AUGUST 1, 1890.

Inangahua Times, Volume XV, Issue 20835, 1 August 1890, Page 2

PUBLISHED TRI-WKEKLY. FRIDAY, AUGUST 1, 1890.

The successful floating of the Alexander Dredging Company marks what may be termed a new departure in mining enterprise in this field, and ona A no ordinary importance. The share list closed last night, and the readiness with which the subscriptions have come in, while testifying to the confidence felt in the venture, shows at the same time the vitality still in the field for leg-ti-mate enterprises. The company hold a lens* of two miles of the Buller river, extending from the punt crossing below Fern Flat in Longford. Experiences have shown that the river bed between these points has a blue clay bottom, which is highly favorable for dredging. Early Bteps will be taken to register the company, and no time will be lest in procuring the required plant, and in the ordinary course of things there is reasonable probability of the company being in full operation by -the end of the present year. It is proposed to include the supply and carriage of the dredge to the scene of operations in one contract, and to stipulate for one month's, trial of the machinery before taking it over. The capital of the company is £9,000, in 24,000 shares of 7/6 each, of which 10,000 are paid-up. The working capital is therefore £5,250, and it is believed that it will not be necessary to call up more than half this amount. The fancy-dress skating parnival will be held in Quigley's Hall this evening. Arrangements have been made for the accommodation of spectators in the gallery, reserved seats being provided on the stage. We observe that the "New Zealand Beferee" devotes an article to the recent eleotion of stewards of the Eeefton Jockey Club, and endorses the view as to the irregularity of the proceedings, suggesting that the Club should be guided strictly by the prooedure laid down by the Metropolitan Club (Nelson). The monthly cleaning up of the Inkerman Company will take place to-morrow, and from the appearance of things there is every j likelihood of a good return, which, will probably clear off all liabilities, and leave a balance in hand with which to start on a dividend-paying career. Mr M. Wynn, senr., who has been on a visit to Victoria, returned to Eeefton last night, thoroughly restored in health. While in Melbourne he met with some erstwhile Reef tonites, and heard of others whom he did not see. Mr M. Byrne had been in Melbourne shortly before, but had left again for Sydney, Mr T. Bollandson had gone home to England some time previously. Mr T. Hunter has settled down in Adelaide. Mr L. Davies has left Melbourne. Mr Wynn met Mr Hobby, formerly battery manager of the Welcome Company here. The latter had been one of the lucky ones during the. .land and silver booms, and having purchased an estate at Caulfield for £14,000, was comfortably settled down, Mr Wynn found, in spite of the reported depression in mining matters, that there was still a very large amount of share business being done daily on the Melbourne Exchange. A day or two after landing he was strongly advised by Mr Hobby to buy shares in the' Duke Company. The price a week before had been 3/-. but they had then advanced to 25/-. Mr Hobby purchased 2,000 at the latter figure, but Mr Wynn hesitated. A week later the shares went up to £2, when Mr Hobby sold out, pocketing a nice little sum over the transaction. Mr Hobby had also been a very large shareholder in the Melbourne Tramway Co., but when the shares went up to £8 during the boom he sold out, making a power of money. Little wonder that Mr Hobby cor* siders it was a lucky day for him when he left Eeefton. Mr J. Whitnall is the applicant for an alluvial mining area of ground situate at the junction of Flowers and Redman's Creeks, embracing the strip of ground lying south--1 ward of the Redman's Creek Slucing Company's holding. The shallow portion of the lease has. already been worked, but by far the larger part is deep ground that has remained untouohed on account of the water difficulty. The operations of the Redman's I Creek Slucing Company below will no doubt have the effect of draining the ground, and so enabling it to be worked to advantage. The tide of fortune in mining ninhei-R seems to be fairly turning, and from nil quarters of the field comes the most encouraging news. The cutting of the ivrf in the Big River Extended Company's main shaft is in itself an event of givar moment. The fact of the existence of t> payable reef at such a depth below any previous workings in the locality is an important stride in the development of that part of the district, and goes in a great way to assure its future, and will give new heart to those interested in adjoining ventures, noUbly the Lor<* Ed ward on the one side, and the Alexi.in.hY. on the other. The discovery of n nif.t sive lode in the Wealth of Nations mim-. under the old rich workings of the com pany, is an event suggestive of the brigh teat possibilities. The recent discoveries in the old Golden Treasure ground raise a hopeful prospect for that part of the field. The development of the Inker man mine reveals a state of things which could hardly have been hoped for a year or two ago, and which cannot fail to give new life and vitality to the neighborhood. This, with the splendid prospects of the Globe, United Alpine, and Progress, to gether with the valuable Merrijiga discoveries, furnishes much for congratulation, and in support of the remark with which we set out, that the tide of fortune in on the flow. United Alpines have now topped their boom in the current price-list of mining shares, having advanced to 28s 6d, at which figure they are very firm, aud everything points to the probability of the further advance. Captain Parker is at present at Boatman's making arrangements to start prospecting operations on Mr F. Board man's property. He recently paid a visit to the Redman's Creek Sluicing Co. 's claim, and was rather surprised at the prospects he obtained from the ground. A Itve bear of the brown species is among the latest distinguished arrivals in Eeefton. The bear was an object of great curiosity to the school children as it passed through the town in the care of its keeper. The animal, though securely muzzled, appears very tame, and is an uncommonly fine specimen. His performances are said to rival those of the educated pig, but it is to be hoped that bruin will escape the fate which befell the erudite porker on its first Reef ton appearance. A report was received from Big River on Wednesday evening that a gold bearing reef had been cut in the main shaft at a depth of about 110 ft below the level. As the underlie of the Big Biver reef proper would not orosß the line of the shaft at less than 150 ft, the present lode is thought to be a distinct one. The stone shows good gold, and the find is regarded as one of considerable importance, as shown by the fact that the shares have advanced from 4s to 6s 3d. An American contemporary states that the stationary ordered for the coming census in the states would fill a room three blocks long, 30 feet high, and 45 feet wide. In addition to the 20,000 population schedules now being printed, 10,000,000 more will be ordered in a few

dsys. They will Require 200 tons of paper, which is now being delivered at the rate of 30,0001 b a day. Twenty million blanks foe statements of recorded indebtedness will be required ; 7, 00,000 or 8,000,000 manufacturers ' schedules, and 2,000,000 agricultural schedules. Six hundred different kinds of circulars have already been printed, the averago number of copies of each being about 20,000, or in round numbers, 12,000,000 miscellaneous forms. Besides the printed matter mil li"HR of sheet3.of other paper are needed '.t.» ii,..! 0 order being for 1000.000,000 hln>.tk ir-.-th for the uso of the electrical '■i')i:l;t'i .<_• niAchtne. psirt of the sta-?'-.'iiei\v \viil lie sent through the mails, am;! for that purpose 750. 000. 000 free deliutvy envelopes have beon ordered I'liese figures give only the -amount of preliminary printing order. When the census is boing taken and the returns are being computed, much additional printed matter will be used, and the printed census records will consume more paper than is required both to get ready for and to take the census. H. Collier & Co., having opened a Weatport branch of their Piano, Organ, and Music business for the benefit of the West Coast, sell instruments for cash or time payment. All instruments tuned yearly, or singly by experienced professional tuners and repairers. See advertisement. [Advt.