MINING INTELLIGENCE.

Nelson Evening Mail, Volume VI, Issue 14, 17 January 1871, Page 2

MINING INTELLIGENCE.

Mil. 11. J. L. AUGARDE'S WEEKLY KKPOIIT Culllford Shakes, £2 10s. paid. No shares changing hands. The machinery, wire rope &c, have arrived at tlm Bush End in safety. The balance of falls duo on the lon^ over-due 12s; 6<\. is lining paid with willingness ; the call of £1 due yesterday, making in all £3. 10h. comes at a lad time, yet the Direction hfivc no alternative. The machinery is getting on the ground, everything is progressing, and v crushing may lie looked for in February, as u certainly. This cannot he doii" without, capital and as the present will lie the I fist call, for some time in all poi-sP'ilit.y, ir. is hoped (he shareholders will respond cordially. Perseverance Shares, £2 paid. Inai''ivf. Then 1 is no news of any >mjsoriiinee. The ci ushings commenced last wi'.-k tuid have continued niijlit and day without intermission. The half-yearly tsiei'lii!^ was held last night in accordance ,wii,h the Deed of Settlement, when the working us well as financial position of the company whs fully gone into. Pionekr Shares, £8 paid. Lucky Hit Shares, £10 paid. Masonic Shares, £12 10s. paid. Mount Ophir •"•■hares. £9 paid, and Commercial Shares, £19 15s. paid. Entirely without business. Colling wood Coal Company's Shares, £140, paid. The meeting of shareholders in this really good investment does not come off, why is this ? Here is a small company, with every ..chance, indeed, almost a certain!.} 1 -, as an investment, allowing the fiae weather to glide away without talcing any decided steps towards putting the compauy on a more busiuesslike footing. Money should be obtained ; large quantities of coal should bo got out and stock should be prepared for winter supply. The Grey coal has risen to 255. per ton, at, the Grey. This should be an incentive. Why not make Nelson the seat of Direction ? Why not obtain more capital, by issuing as many shares as will bring the requisite capital, and giving the present shareholders the option of taking as many as they require, and offering the remainder to the public. Here is a company capable of producing 100 tons a week of good saleable coal lyiug dormant for want of business management. There is no chance here, but the positive fact, yet no active measures are taken. Doran's Goldmining- Company's Shares, £1 10s. paid. Another call is made due on the Bth February next. Work progressing. Legal manager going to Auckland about wire rope as well as to obtain general information. Waimea South Quartz Crushing Company, Shares, 10s. paid. Tenders ci.lied for conveying the machinery from the ed^e end of the bush to machine site. The work being done by Government on this part of the hmd will be a great boon to Companies as well a,-* carters. Sutherland Goldmining Company's Shares, lO.s paid. Mr. Sutherland has return-'d from a business tour, with regard to machinery, which, we presume, will soon l»e on the ground. It is hoped the directors will soon remedy the error with regard to Registration charges in transferring shares, otherwise the shares will never change hands. All our companies in the Wangapeka district, are pus dug iv the right direction at hist. Work is progressing, machinery is getting on the grouud, and tho Government have put on men at 7s. per day to ' make the road from the edjie of the hush to the machine site. All this shows that everything is merging towards the desired and long-looked- for event, viz., the first/ crushing, and it is to be sincerely hoped that our expectations may be realised. There is one thing that should not be overlooked, viz., tho atmospheric battery sent here to the Waimea South QuartzCnishing Company, at a cost of £130. It is a pity that this should be allowed to lie idle, or to go buck. A battery for £130 surely would be within the reach of the Commercial Company at Collingwood. This reef ha 3 made a fair return, and is certainly worth a trial.