THE GOLDFIELDS.

New Zealand Herald, Volume XXV, Issue 8965, 1 February 1888, Page 5

THE GOLDFIELDS.

[BY telegraph.—own CORRESPONDENT.] Thames, Tuesday. Prince Imperial. — 112oz of gold from 46 loads of general dirt and 6(51b picked stone.

Mr. John Chambers, writing to the Harbour Board relative to the introduction of English capital, says:—"l would suggest that your Board remit all wharfage dues for say five years upon all ores, &c., actually used by the proposed works, and that only half dues be charged for say 21 years."

Gold WATER (Whangamata).— mine manager reports: Since report of the 20th instant the drive has been continued and squared up to the footwall of the reef. The reef is about four feet thick, three feet of it being hard white quartz. The remainder appears to be ore of a payable quality, about equal to that which was broken on the surface. Colours of gold are to be seen in it, also a good show of sulphide of silver. I have commenced to drive both ways on the line of reef. Cambria.—The mine manager reports : The crosscut at No. 4 level is now in a distance of 139 feet from the shaft. For the last two shifts there has been an improvement in the class of country, it being better looking sandstone country. Rising on the main reef in No. 4 drive was started on Thursday last at the place where the good mineral was obtained when driving. The drive west on No. 6 leader is now in a distance of 61 feet. The leader in the face of this drive is about three inches in thickness. Gold is being seen through the auartz when breaking down the leader. The rive on the hangingwall of the main reef from No. 7 drive is in a distance of 44 feet. There are about 9 inches of the hangingwall portion of the reef kindly looking, with goodlooking mineral through it. The fourth stope east on the No. 1 footwall leader is along 45 feet. In the face of this stope the leader is about nine inches in thickness, Gold is being seen through the quartz when breaking down the leader. The third stope. west on No. 1 footwall leader, is along 129 feet. The leader in this stope is about 18 inches in thickness. Gold is being seen when breaking down the leader. The seventh stope, west on the No. 1 footwall leader, is along 64 feet. In the face of this stope the leader is 18 inches thick. Colours of gold are being seen through thejquartz when breaking down the leader. The eighth stope, west ontheNo. 61eader, is along 21 feet. Dabs and colours of gold are being seen freely through the quartz when breaking down the leader. The eighth stope, west on No. 4 and 5 leaders, is along 19 feet. Gold is being seen through the quartz when breaking down the leader. The crosscut at No. 2 level is now in a distance of 50 feet. This crosscut is going through splendid sandstone country. 115 loads of quartz have been crushed during the week for the return of 2570z of amalgam. The battery, winding engine, and air compressor are in good working order. Diamond.The tailings from the last crushing* weighed 18} tons, and fetched at £4 12s 6d per ton £84 Bs.

SAXON GOLD MINING COMPANY. The annual general meeting of the shareholders of the Saxon Gold Mining Company was held yesterday afternoon at Mr. D. G. MacDonnell's office, New Zealand Insurance Buildings, Mr. Charles Alexander, chairman of the Board of Directors, presiding. There was a good attendance. Mr. MacDonnell, secretary, read the directors' report, which stated " That the profress of the company for the past year ha« een satisfactory is best attested by the fact that we have been enabled to declare dividends to the extent of £3333 6s Bd. and wo have much reason to hope, judging from the mine manager's report, that the dividends for the current year will largely exceed those of the past. The assets are largely in excess of the liabilities, whilst the late Mr. Graham's interest in allotment, for which we were bound to pay £100 ayear for a term of five years, and at tho expiration of which time we might possibly have had to pay £200 a year or more, owing to the improved prospects of the mine, has been purchased for a sum of £450." A report forwarded by the mine manager reviewed exhaustively the working of the mine since his taking charge in August, 1886, and concluded as follows:—"I will now lay before you my proposals for the near future. No. 1 level should be opened from tho shaft to test the reef nearer the surface. If the reef could be picked up here, of which I have very little doubt, a winze could bo sunk to No. 3 level, thus dispensing with No. 2 level altogether. At No. 4 level a crosscut was put in from No. 2 reef to cut No. 1. It was cut and a winze sunk from No. 3 level to meet it, but very little work done on the reef. I now propose driving on the reef seaward about 150 feet, to get under the gold worked here about 18 months ago ; this would also prospect a part in which some good ground was worked during the time Mr. Coutts was in charge. These are the most important works, and I would recommend that they be commenced at once."

The balance-sheet for the year Is as fellow :—

Receipts.Balance from last year's balancesheet, £110 15s 6d ; gold, £.10,101 Is 8d; calls, £243 16s lid ; amount received in excess of calls on forfeited shares sold, £16 ISs lid ; amount received on sale of reserve shares, £50; amount received per tributes, £138 lis 4d ; per tailings, £73 Ps 6d ; per winding, £27 Is 4d ; per Trenton Co., £184 ISs id : total, £10,045 0s lid. Expenditure.—Wages and contracts, £3447 18s Sd ; crashing, £979 IBs 3d ; ironmongery, £550 Ss 8d; cartage, coal, and timber, £40317s 2a ; drainage and borough water supply, £8S0; salaries, law expanses, survey, and Board fees, £110 5s Sd ; rent of licensed holding and Graham's freehold, £100; advertising, printing, stationery, insurance, and interest, £65 19s lOd ; miscellaneous accounts, £52 13s 6d ; purchase of Graham's freehold. £450; dividends, £5388 tfs 8d ; balance, £036 Ss: total, £10,045 0s lid.

The profit and loss account showed a credit balance of £4321 14s 2d. The report and balance-sheet were adopted, and Messrs. Kissling and Alexander were reelected directors; Mr. T. A. Menries being also re-appointed auditor.

REPORTED DISCOVERY OF TIN.

[BY TELEGRAPH. —PRESS ASSOCIATION;] Christchurch, Tuesday. There is a rumour round town that tin has been discovered at Alford Forest, seven miles from here, and numbers of leasee have been applied for. Professor Hutton, who knows tne locality, was interviewed re the matter. He says tin is never found except in granite formation, and he believes it impossible that tin can be there, as there is no granite formation at Alford Forest.