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New Zealand Herald, Volume XIV, Issue 4789, 23 March 1877, Page 2

Ik the face of the present exciting turn of affaira on the goldfields, particularly in the Moanataiari Company's mine, it may be well to consider the circumstances of those companies which are now prominently before the public. A favourite practice with speculators and investors at preseut, is that of drawing comparisons between the Moanataiari, with its present proepecfcs, and the Caledonian in its palmy days. From the-best authenticated information which has reached us, it appears that the rich belt of golden ore nowopened in the Moauataiari mine, would coinpare favourably with the Caledonian C'omi»ay'a moat wealthy prospects, but in the

latter only a capital stock o£ 2700 shares," while-in the Moanataiari Company the number .of..shares is 13,000. The area of the latter company's mine is,however, enormously 'greater than that of the Caledonian. It comprises dver'-30 acres, a (largeproportion ..of'"which.has been proved to contain'auriferous quartz,'while the whole area of the Caledonian mine-was little over four acres." These' are ' matters which should, we think, be" considered by investors and speculators, inasmuch as they largely, affect the market value of thpehares. As might have been exDectedJ the renewal of confidence created by the rich discoV'eries'of the Moanataiari, has largely affected other stocks.- .-The —United};—the Inverness, and several others, have increased in lvalue and'are inquired after in the 'market; but while rejoicing at the restoration of. confidence in the resources of the goldfield, we trust-there will b4 no undue speculation, no scrip mania, for if this occurs there will surely-be another! de- ; pression which' cannot fail' to bring disaster upon many. ,We append ■ the following , report of the Moanataiari Company's mining manager under date March 21, {arid a telegram received yesterday morning:— "I beg to inform you that the run of feold on .No. 9 reef, going up in back, is as'.rich' now as at any time since' sinking it, jand there is every appearance of its continuing. The specimens broken today were' richer than those broken for two previous days. The reef stripped in drive is not yet ; br6ken down, as the men are'engaged* taking lout the side about 18' feet from, it, and t to ascertain the width of crushing stuff, one blast is put in daily, and the atone "then, crushed in single stamper. The drive W; is-without change, ana in driving 1 E. on. All Nafions leader, good colours of gold.are• seenl"— " Thursday, 9.40 a.m.—lOowfc good specimens. Fine show' in : face; xemainirig"*'' 3800ozs. amalgam yesterday." 7\V*e pay further add: that ithe company have aiade application to the County Council ibt water from the watei>race; to,'.be used- as 'a motive power for ,the crushing This would enable them to crush at a muoh lower rate than at present. . .•-'':-". !V '■", , i ''■'"''