THE GOLDFIELDS.

New Zealand Herald, Volume XXVIII, Issue 8540, 14 April 1891, Page 6

THE GOLDFIELDS.

[BY TJSLEGBAFH.—-OWN CORRESPONDENTS.] Thames, Monday. Sharemarkkt.-^—Consols Is Bd, sellers Is 9d; Hazelbank (2s paid up), 2s Id; May Queen, sellers 7s; Moanataiari, 8s 6d, sellera 8s 9d. Victoria. —Driving hill ward at No. 3 level has been commenced upon the last lode intersected in the crosscut. About four feet of the footwall portion is being carried along in the drive, and some of the quartz looks very promising for gold. ScccKss.—A crushing- of five loads _of quartz from the reef in the western drive has been forwarded to the Moauataiari battery for treatment. Arrangements have been completed for grinding the tailings in Mr. Joseph Fraser's new pan, as the quartz is heavily mineralised. Hazelbank. —A further haul of 501b of picked stone was obtained to-day from the winzo upon the cross reef at No. 1 level. The reef at this particular point is about oue foot in thickness, and as the winze ia only clown about three feet, it will be seen, that the quartz must be of good quality. Some of the picked stone obtained was very good. Saxon. —A start was made to-day to sink the winze upon No. 2 lode at No. 5 level, eastward of No. 2 break, with the object of connecting eventually with the drive now in progress at No. 6 level, and opening up the reef for stoping. Driving westward from the shaft upon the same reef at No. 6 level was also commenced to-day, there being a distance of about 90 feet to drive in this direction before reaching the Victoria boundary. Three or four pounds of ajeked stone came to hand to-day from the eastern drivo upon the No. 1 reef. The fortnightly retorting takes place to-morrow.

MAGNOLIA GOLD MINING COMPANY.

INCREASE OF CAPITAL. A meeting of shareholders in this company was held yesterday, at Mr. F. A. White's ofiice, Queen-street, Mr. S. C. Macky in the chair. After the advertisement had been read, and the minutes of a previous meeting, of which this was an adjournment, had been read, the Chairman reported that the manager had not yet connected the lower drive with the winze, and consequently the directors had been unable to make the tests which had been ordered at a previous meeting, but they thought it better that the capital should bo increased at once, and he, on behalf of the directors, would promise to have the tests made and submit the results to the shareholders before deciding on what class of battery they would require. There was no doubt they required a plant of their own, for from the position of their low level drive, it would be difficult and expensive to cart quartz to any of the existing batteries. Mr. J. M. Alexander said with the assurance of the chairman that the shareholders wouid be consulted before any plant was -decided on, he would move, " That the capital of the company be increased by the issue of 35,000 new £1 shares, 30,000 of which will be allotted to the present shareholders in the proportion of 2 to 1 upon the payment of 6d per share, namely, 3d on application and 3d on allotment; application to be made on or before the Ist of June, such sharee to be then deemed as paid up to 2s 9d." That would give £750, and then if the tests satisfied the shareholders that the mine was worth a battery, they would all be prepared to pay their calls, but he trusted before the directors called them together to consult them regarding the erection of a battery they would have a substantial test of at least 100 tons, so as to justify them in incurring the cost of erecting a crushing plant. Captain Colbeck asked for what purpose was the proposed increase of shares. Was it for the erection of a battery ? The Chairman said that was what he had intended, but a largo number of the shareholders thought the company should be on a par with other companies on the field, aud have a capital of 50,000 shares instead of 15,000 as at present. Captain Colbeck said he thought they might submit to a further call if they had faith in the mine, and that would give confidence to the public. If the directors had confidence in the mine it would be better that they should make a call rather than that they should increase the capital. As one who had seen and inspected the mine, he was convinced that it was a good property, but for the present he thought it would be better to make a call rather than increase the capital. The Chairman said he had always been of the opinion expressed by Captain Colbeck, and it was only on a strong expression of feeling from the shareholders that he consented to an increase of capital, but they must remember that the shareholders would really be paying the calls on the new shares, for if they did not take them up, they would become the property of the company. He did not think, however, that any shareholder would leave his shares unapplied for. At present there were only some forty shareholders in the company. Mr. Horn'e seconded the motion proposed by Mr. Alexander. He did not agree with Captain Colbeck'3 views, as hie experience of small companies had been a somewhat bitter one.

Captain Colbeck said Mr. Home must have been mixed up with a bad lot, but he thought if they had 60shareholders instead of 30, they would have the same proportion of rogues. He found that the companies in which he succeeded best were those in which he was the only shareholder. He thought the confidence of the shareholders would be best shown by making a call. He believed the Magnolia to be a good concern, and he believed the shareholders would reap their reward. He did not propose an amendment, as he saw the feeling of the meeting was against him. He was not a scrip dealer, and this, to his mind, was a scrip dealing transaction. Mr. HoRN'E took exception to Captain Colbeck's remarks, commenting on the people with whom he (Mr. Home) had been connected, but Captain Colbeck assured him nothing personal was meant. The motion was then put and carried on the voices. The Chairman said the shareholders may rest assured that when the tests were made, they would try the different plants and report the results to a meeting of shareholders to be called for the purpose. The directors had no desire to take on themselves the onus of erecting any particular class of plant.

MINE MANAGERS' REPORTS. I New Moanataiabi.—At the 200-foot level the third stope westward on the main or footwall lode is now in progress. There has not been any gold seen here yet, but the. quartz looks all right, and is carrying the same indications as on the level above. The country, however, is of a much harder nature. The intermediate drive east from the rise has been extended 25 feet. Some distance back from the present face the lode suddenly turned off to the left, or the same course as the Reuben Parr reef on the 100-foot. At present I have the men continuing the drive straight ahead, with the obiect of following the footwall branch, which, as I mentioned in last week's report, will be sunk upon as soon as the break is passed through. If this is the point where the junction of the Reuben Parr and footwall lodes took place, then the lead which branches off further up the rise must be a separate one. On the 100-feet level there is but little change to report. The south drive is still going through the same class of country. In the drive west on the No. 2 footwall or vertical lead there are good dabs of gold seen almost every breaking down of the quartz. This lead, although small in the level, is payable, and as the country is of a first-class description, I am in hopes of meeting with something better. There are three stopes in hand here, which are producing very fair crushing dirt. The flat lead is still much broken up. Gold, however, is continually seen, but there is no picked stone being obtained. The main lode on the eastern drive is not quite so large, so that there is a better chance if the country gets a little easier that better gold will be met with. From the stopes the usual quantity of crushing dirt is being obtained, but it continues to shape rather poor at the battery. I am having a trial parcel of quartz broken out from the No. 9 reef on the tunnel level. There is some nice-looking quartz at the place we have started, and should it be worth 8 or 9dwt per ton, could be made to pay. Amalgam on hand since cleaning up. took place, 183oz. Magnolia.—The drive on No. 2 leader is in about 10 feet. About 14 feet was where I met with the cross leader and got 10 pounds of picked stone which I wired you. It averages from two to three inches in thickness, and it is a nice, mild, promising looking leader for gold. I still see colours and dabs of gold iu No. 2 leader in every breaking

down. At present it is a little disturbed by the cross leader. I obtained a few pounds of stone in No. 2 leader on Saturday, not good enough to call picked, stone, but too good to put \yith the general stuff.' I expect to get another cross lode in about eight or ten feet, and that will bring me right in under the winze. The winze is very near down to the level and I do not think I will have many feet to rise to hole through. Hazej^bank.-—Thelcadingstopeoh the cross reef has been carried forward towards the face of the drive, a distance of 18 feet this week. The reef on an average has been about 2 feet in thickness. In breaking it down gold was frequently seen in the quartz on the hangingwall portion of it; also a few pounds of picked stone were obtained from here. The country on the crosscut drive has been extremely hard up till yesterday, and now it is all that could be desired both for making progress and for the existence of reefs, Kelly's lode may be to hand now at any time. City of Dunedin.—Since my last report the drive has been advanced 20 feet, and timbered up. I have not as yet reached the solid ground. This cannot possibly be far distant, as the face of the present level is now in the original section known as the John Bull portion of the City of Dunedin ground. Once clear of the present workings, the reef is intact to Sunbeam boundary, the distance to that point being 700 feet. Red Mercury (Kuaotunu).— Driving north on the reef has been extended 8 feet, making a total of 31 feet from crosscut. The reel has maintained its size (2 feet 6 inches to 3 feet), with prospects much the same as last reported. VVe are still carrying the brown sandstone dig on the hangingwall. The leader mentioned in my last has junctioned with the reef again, where it made a patch of very rich stone, showing gold freely. No. 1 leading stope north has been extended a further distance of 7 feet, making a total of 19 feet from the winze. The country has been very hard and contrary duriug the latter part of the week, which has made progress rather slower. The reef is not quite so large (about 18 inches), nor does it prospect quite so well as a few feet back; but that we must expect, for there is bound to be some parts of the reef better than others. The level tram extension is finished and ready for work, and will start sending mullock from tip head down as soon as wire tram is completed to metal around hopj>ers, and from there to county road. [The manager wired yesterday:—" Breaking down reei north face last shift on Saturday obtained 201b picked stone; splendid show still in face."] Owera (Whangapoua). —Since my last the reef on the low level has been driven on 14 feet beyond the winze, and has, after having been somewhat broken up for a few feet, opened out again, and is now a fine compact body, three feet wide, and giving excellent prospects all over, from wall to wall. The ore, some twenty-eight tons, will be loaded up to-morrow. Nemesis (Kuaotunu). —I have started to get ready a trial crushing of the No. 5 leader. I will make the parcel up to ten tons. The men have had to put the drive in working order; they will commence to strip the leader on 'Monday. This leader, I may mention, is about one foot, and is a well-defined lode, and prospects very good ; the gold being course it should yield very well. While the hands are breaking the quartz I intend to prospect for the large white lode that passes through the ground ; I do not think it will take long to find it—where the stone is shed on the surface you cannot go wrong in getting excellent prospects, and if the reef is as good underground as it is above you may reckon it the best on this side of the range. Cekes (Kuaotunu).—Since starting work I have done a good deal of trenching on the northern portion of the claim, and so far have met with a little encouragement. The spur that I am prospecting is composed of a tiuesolid sandstone, in which we may expect to find payable reefs. I have already uncovered two lodes, one of about IS inches the other about one foot; both give very fair prospects by pounding; the former is the same as thiit cut in the Napier ground. I hope in a very short time to be in a position to inform you that we are on good payable gold ; everything that could be wished for in the field rock exists. Tkv Flukk (Kuaotunu).—l have to report that the winze on the main reef is now down 40 feet. The reef is still from five to six feet through, and continues to give fair prospects by crushing and washing, and we can occasionally see a little gold in the hangingwall portion of the reef. The whole of the ore from the winze is going to -the mill, and is shaping for a payable return. _ The drive on the Kuaotunu reef is now in eightysix feet. The reef in the end of the drive is about eighteen inches through, and continues to give fair prospects. lam now starting to rise on this lode, and shall soon be in a position to commence sloping on it. \yje have started the Kuaotunu Try Fluke drive. The country was a littlp tight at the starjfc for a few feet, but the men are now making fair progress. The country looks very well, and the drive is in '20 feet. In the stopes south of the main winze above No. 2 level we are timbering and filling from the surface this week. We have done nothing on the reef at bottom level since I last reported. The end of the drive is full of quartz. lam pushing on with the hopper with all speed, so that we may have storage for the quartz. The crushing for the week is: Amalgam on hand, 2330z. This includes 12Aoz from about one ton of ore crushed in the"single stamper, which was taken from the hangingwall portion of the main reef. In the hist few feet sunk in the winze this lot was picked. This looks well for our new block, as the winze is now down nearly 50 feet. Orlando.—The mine manager telegraphed yesterday; "101b picked stone hangingwall reef No. 3 stope." Great Mekcury (Kuaotunu). —The main tunnel has been extended 18 feet, making a total of 339 feet driven from entrance. The country is very much thesameas lastreported. The Try Fluke reef should have been cut ere now, but owing to it having a greater underlie than showing on the surface it will of course make it a little further to drive, but it should be met with any minute now. There is a great quantity of water being met with in the face, which should indicate that we arc close up. The winze has been sunk a total depth of 118 feet. The reef is about two feet wide and in a nice channel of country and gives a very fair prospect when pounded. In opening on No. 8 (Red Mercury) reef some verv good stone is being obtained, from which really good mortar prospects are got. Carbine (Kuaotunu).— During the week work has progressed as usual in the mine, but nothing has occurred of more than ordinary importance. Payable ore is coining to hand from the branch vein in No. 2 level, but the quantity has been smaller than the average of former weeks, owing to a break in the gold-bearing portion of the leader in No. 2 stope south. The face, however, is again showing stone of fair quality. Some work has been done in the leading stope on the main lode south from the junction. The reef there is about eight feet in width, and nearly all of the stuff carries gold, more or less. Portions of it give good prospects, but the rubbly character of the ore makes the selection of the richer parts a somewhat tedious process. Concerning the other parts of the mine there is nothing of any consequence to report. Bonanza (Kuaotunu).—Since taking charge of your mine I have been driving from the Arizona level to get under the shot of gold that the 10-ton parcel came from. There is a distance of 20 feet to drive before we get under the winze. The leader is small at present, but by appearance might make at any time. In the winze the leader is about one foot, mixed up with stringers, carrying a little gold by dish prospects. '£he ground here is very much disturbed owing to a slide coming in, which accounts for the poor class of stone Avhich came out the last few feet sunk. Keystone (Kuaotunu).—Mr. Blewett reports : Since taking charge of your property I have examined several of the reefs, and, by prospecting, find they carry a fair percentage of the precious metal. In the main tunnel I have driven about six feet on the line of reef. The ground is a little shaky, which I shall have to timber. The battery manager reports that the Otama has put through 100 tons, and the Kuaotunu expect to get cleaned up to-day. The Lady Carrington Gold Mining Company goes in after the Otama with 50 tons, and the Carbine after the Kuaotunu with two parcels of 50 tons each. .

In a late issue of the Nineteenth Century the Earl of Meath gives a description of the German labour colonies and other institutions for providing work for men out of employment. There are twenty-two labour colonies in the country, and they have proved very successful in rescuing men from lives of idleness, dissipation, and beggary, and providing them with the means of ob taining regular employment. Every man is required to work on the land or at some occupation indoors, and a small sum—2£d per day—is allowed for wages, but is not paid till the man leaves the colony. The weak spot in the system is that it does not provide for wives and children, and the Earl of Meath does not tell hi 3 readers how these are maintained in the absence of the hus bands and fathers.

Ifc is fortunate that the tragic ending of the late Duke of Bedford, who shot himself when out of his mind, it is supposed, through pain, will not deprive the Royal Agricultural Society of the valuable experimental farm so long placed at their disposal on the Duke's Woburn estate. The new Duke has stated that he will continue to maintain the farm for the objects to which it is devoted.