REEFTON.

Nelson Evening Mail, Volume XVIII, Issue 127, 30 May 1883, Page 2

REEFTON.

[From our own Correspondent] . | By Telegraph.. Monday night. The past week has shown signs of improvement in the share market, and some orders have been executed at priceß slightly in advance of former quotations. Money seems to become a little easier, and better times ara expee'ed with the progress and completion of the various works now on hand. The prospects of tbe mines are satisfactory and the works are being pushed ahead with all vigor. At the sitting of the District Court to-day before his Honor Judge Broad a very important case affecting mining Bharetransactions came on for hearing this morning. Thomas Dayies made application for an order to rectify the share register of he Oriental Company in Devil's Creek on the ground that the shares had been transferred from his name. The case in brief is as follows:— A few years since certain shares, then in the name and possession of the applicant, had been sold by public auction as forfeited for nonpayment of calls. At that time the shares were very low, but at present they are worth about 10s.. After counsel on both sides had argued the matter fully his Honor refused to grant the order and the

applicant had to pay costs. Thia sets at rest any measures respecting the purchasing of forfeited shares, which is a frequeufc occurrence when things look low. The Imperial Company have concluded their long pending arrangements with the Just In Time Company for the joint use of the latter's main shaft which is situated in a convenient position for both Companies. The shaft has been finished, and powerful winding gear is how being erected over the shaft, and the Tte.ent arrangement is equally satisfactory to both parties. The Imperial Company will pay one half of the cost for the shaft aud machinery which, together with a bonus of _-.r<(', will amount to about £1100. The har. s in both Companies are likely to rise in consequence of these satisfactory conditions by which both parties will be gainer.. The Fiery Cross Company are raising very good sone and will soon b? ready for a crushing. The Hopeful Company crushing is progressing satisfactorily, but there has been no cleaniug up yet. The Welcome have all the vi chr ground machiney on the claim and have commenced the erection. Last week's amalgam from the mill was 31-Oz.s from 80 ton?. The Specimen Hill st. >ne looks well, and the Company have made arrangements for a crushing plant. The newly erected air compressing and winding machinery works well and tho incline tunnel is now working. Iv Murray Creek the Keep Ib Dark cleaned np on Saturday with 3500zs of amalgam for the week. The Golden Fleece crushing bave not yet finished. The Ingle wood Extended are raising good stone for the low level. The Golden Treasure are sinking their main shaft and making good progress by the aid of Intely constructed winding machinery. The Energetic are still raising on fair stoDe. The Lank.y's Creek battery is finished and steam will be got up to-morrow. This Company have a great quantity of cement on hand, all the paddocks being* full. There is also a face with about six feet of apparently very good cement.