MONTHLY MINING SUMMARY.

New Zealand Herald, Volume XIV, Issue 5020, 18 December 1877, Page 6

MONTHLY MINING SUMMARY.

Tue immediate prosperity of the Thames goldiield depends very much upou the operations of those companies which have hitherto been the best gold producers as well as the largest employers of labour, and as the owuers of the largest areas of ground, as well as the best mechauical aids for working their mines, together with the best possible appliances for gold saving, they are bouud to exert a dominant iniluence. The intiuence of these companies increases just in proportion to the difficulties to be encountered iu mining ; as for instance, a company may do well while the expenses arc small, but as soon as these increase beyond a certain p ,int, they are bound to give way to those who possess the most capital. The Waio-Karaka levels are 500 feet deep ; the lowest at the Big Pump is 040 feet. The main north cross cut has been driven to 1 within 20 feet of the Shotover shaft, aud , stopped; or, 1132 feet from engine shaft. The north cross-cut is almost one-fourth of the distance towards the Riako, or 743 feet from shaft. The lowest level as yet have disclosed no payable reefs, the country to the eastward beiug judged, however, to contain gold-bearing Jodes. The Waio-Karaka mines disclose that the reef extending through the ground is good for over 1000 feet iu length, and has been protitable from the surface downwards. Of the mines beyond the iniluence of the pumps,, the Albumin is the most importaut. Beiug on elevated ground, they can put in level after level and drain their workings. The Black Angel, Old Whau, and some others, are similarly situated, but beyond employing many parties of tributers, do not affect the welfare of the shareholders generally. The most important tind of gold during the month is from the Caleduuiau, and there is room enough for the golden stone to extend, aud the untried section of the mine known as the Otago may yet prove to be of great value. The stone has proved to be worth upwards of sozs. of gold to the ton. The Kuranui Hill Company have also in hand a small reef, which has yielded rich returns, aud promises to continue. The Moanataiari maintains its character, aud has finished excellent returns from general stone, averaging rather more than loz. to the ton. The company has lately added to their area considerably by extending iu an easterly direction, which they will be able to utilise, aud take out a profit by means of their main tunnel intersecting the reefs at a level above high-water mark, which will enable them to operate upon and take out reefs, iu some instances, with 200, 300, and 400 feet of backs. Other companies, aud the tributers generally, have only been partially successful. The month's operations may be said to be weak, aud the present difficulties in con neefcion with the Queen of May, re the drainage question, does not tend to improve matters. The sooner a scheme incorporating all the \Vaio-\araka mii.es is settled upon, the better. The out districts have shown up better. At Ohinemuri the Waitekauri Company, after suffering a collapse of a small part of their mine and a short supply of water for their battery power, have again obtained good crushiug Ltonc, and will return a prolitable yield.

The Welcome so far exceeded expectations that their lirst crushing under the new arrangements with the battery owners left sufficient to declare a shilling dividend on the 13,01)0 shares. They are continuing to crush payable stone as well as the Young New Zealand Company. Several other companies are employing labour to develope their properties, but as yet have not crushed auy large quantity. At (Jwharoa the solitude has changed to busy activity, and the battery is going upon stone from the Smile of Fortune aiul other mines, with satisfactory results. This change has been brought about mainly by Mr. Wick, who has taken the battery and Smile of Fortune mine on tribute, aud has induced others to take up the ground but lately abandoned.

At Tapu there are a few claims worked with prolit, and the two batteries there arc employed occasionally. At Tairua the only mine that may be said to be worked is the Alma. During the month a parcel of gold was forwarded that paid for the taking out, but nevertheless the compauy had to make a call to clear off liabilities, and have now let the whole of their property with battery to a party on tribute.