COKOMANDEL.

New Zealand Herald, Volume III, Issue 643, 4 December 1865, Page 5

COKOMANDEL.

[I'UOSt oun OWW COBBESPONDENT.] T , , November 30. 1 HAVE to report satisfactorily from this quarter. In tho Coromandel Company's claim the shaft is sunk, and they are driving in an easterly direction; almost up to tho present time thoy have been compelled to to blast the rock to progress in their work at all, but this is no longer the case, the formerly dry workings have now a considerable amount of water in them, which in its turn is. kept under by the powerful machinery on tho claim. Gold-bearing quartz ia continually got from this claim. From the Kapauga I have only to repeat the old story—payable quartz is constantly obtained. Why shares that a few months since brought £12 Bhould now be quoted at £10, is peculiar, when wo take into consideration that a dividend was declared but a short timo ago. If a person wished to dispose of hia shares for any leason, he would probably sell cheaper than what was probably thoughtlobe the real value of the share?, but this would surely not depreciate tho value of sharos ; people will of course buy as reasonable as possible on the otlur hand. I merely alluda to thiß, fearing that persons unacquainted with our prospects jnight regard this as a fal!:ng-off in our yield of gold, whereas wo have every encouragement at present that Coromandel will be a great auxiliary to the Province.

The survey of the township and ten-acre allotments will, it would appear, take a much shorter time than was at first anticipated, and the aurvoy purtiea,.under Messrs. Wray and Q-oodall, will now be taking their leave, unless the Chief Surveyor finds more work for them.