THE GOLDFIELDS.

New Zealand Herald, Volume XVII, Issue 5944, 4 December 1880, Page 5

THE GOLDFIELDS.

[BY TEI.KCRAI'H, OWN COKKKSPUNDES'T.] Thames, Friday. Gold Returns.—Southern Cross Company, 7u'ozs. lodwts. : Hape Creek tribute (Vernon), lOozs. lSdwt.s. ; Star of Te Papa Claim, 33ozs. 15dwt«. Southern Citoss.—A crushing of twentyfive loads of general stuff has been completed for the excellent return of TGozs. 15d wts. of gold. A considerable portion of this crushing was obtained from the the small leaders showing in the face of the hill at the back of the big pump shaft. Cuke.—Another parcel of quartz obtained from the No. 7 lode is now being put through the battery. Before the crashing is completed it is expected that fully 70 tons will Ik; broken out, and ;is colours of gold have frequently been seen, the return is expected to be a good one. Victoria.—Crushing for this company was started this morning. Star of Te Papa.—The proprietors of this claim have crushed a small parcel of live loads of general stud' for the excellent return of HOozs. lu'dwts. of melted gold. This parcel was the result of one week's work by two men only. A trial parcel of six loads from another leader gave the poolreturn of 2ozs. lihlwts. of melted gold. The claim is situated on the Te Papa gully, at the back of the Una hill. Siiaremahket.--Sales : Te Ai'oha, 5s to .Us (id. Sellwrs :Te Arolia, 7s (id. Buyers : Devon, 12s (i<l ; Cure, 2s (id ; Moanataiari, 3is (id ;' Alburnia, 28s ; Blue Spur, 7s

QUEEN OF BEAUTY EXTENDED. 'The ordinary general meeting was held yesterday to receive the report of the directors to elect a new Hoard of directors and to appoint the auditor for the year. —Mr. .Ino. McCalic occupied tile chair, and, in opening the proceedings, said that the operations during ihe p;ist year had been attended with geater expense and difficulty, which the report would sufficiently explain.--The legal manager, Mr. McDonnell, read the report, of which the following is the substance :—Last year the directors were in hopes that the report and balance-sheet would have been of a more favourable nature, and that all necessary work would have been completed at an earlier date. Hut tlie delay and increased, expenditure has been caused by circumstances over which the directors had no control. The difficulty was mainly connected with the question of drainage. Tlie big pump now works to the ■100-feet level. The present appliances of the company are ample to deal with the drainage of their own area, and for a much greater depth, so long as the big pump continues its operations to below 350-feet. But with a view to guard against any future retarding of the work, the directors have constructed lifts which raise a body of water twice the quantity. The directors had obtained from the Thames County Council the right to water at us per week per horsepower, being at a lower rate than supplied to others. The shaft is extended to :S«0 feet, and ;is the water was being reduced, the directors expected to be down to the lowest level and getting out payable quartz in .January. The expenditure of the year had been large, and a call of Is per share would be necessary.—The Chairman said that a good deal of the work done had been of a permanent character, and would be equivalent in the future to a very large sum of money saved. Formerly it was necessary to sink two shafts, one on the Piako ground. When they got to a level it was necessary to make a drive connecting the shafts. That work lor each level represented an outlay of £ISOO. Nothing of that kind will have to be done in future. The sinking of tlie present shaft would bring them on to the reef.—The balance-sheet was read, and showed receipts to lie.£sl S3, with an equal amount of expenditure. The report and balance-sheet were adopted unanimously. Election ok Directors.—The Chairman said that Mr. Perry had announced his inability to attend the meetings, and therefore resigned. The other directors were eligible for re-election. The old Board was reelected. Air. Staccy was elected in the room of Mr. Perry. Auditor.—Mr, T. L, White was elected auditor.