THE GOLDFIELDS,

New Zealand Herald, Volume XXVIII, Issue 8631, 29 July 1891, Page 6

THE GOLDFIELDS,

[BY TELEGRAPH. CORRESPONDENTS.] Thames, Tuesday. Sharemarket. — Moanataiari, sellers, 8s 6d, buyers, 8s 2d ; Orlando, sellers, Is Id ; Saxon, buyers, 5s 9d; Trenton, sellers Is 3d ; Victoria, sellers Is 2d. Flying Cloud. —A crushing of 30 loads of quartz has been completed for this company for the return of 18oz lGdwtsgold. Lone Hand.—lt is expected that the contractor for putting up the rise above the low level will effect communication by the end of the present week by the winze sunk upon No. 1 leader below the Moa level. Strong dabs and colours of gold are seen at every breaking down of No. 3 leader in the winze, which is being sunk below the Moa level. May Queen.The contractors are ranking very good progress in sinking the company's shaft, and have reached a depth of nearly eighty feet below No. I level, the country penetrated being quite free of water. Excellent headway is al«o being made by the contractors at No. 2 level with the crosseut towards the shaft from the drive upon No. 4 reef. Since commencing operations a distance of close upon 40 feet has been driven, which leaves about 110 feet more to drive to reach the shaft, and this will probably be accomplished within five weeks of the present date. ICOROMANDEL, Tuesday. Try Again.—James' party have lodged 1920z of gold from a crushing of 1001b stone obtained in the Try Again, late Success. Some of the stone was extraordinarily rich, worth over 6oz per lb. This is a new section of the mine, and the lucky owners bid fair to make a fortune. Paeroa, Tuesday. Mr. McGruer, of the Karangahake Crown mine, is getting some splendid quality ore in the No. 5 or Monastery section of the property. Some stone shown in Paeroa last week was worth about Joz to the pound. Of course there is not a largo quantity of this specimen dirt, but there are several tons of ore grassed worth from £60 to £160 per ton. Mr. McGruer had an accident last week, his horse falling with him. He had a narrow escape, only sustaining a severe shaking and a few bruises, bub the horse had to be destroyed. TE AROUA MINE. Mr. H. H. Adams, proprietor of the Te Aroha mine, Waiorongomai, has brought to town about 801b of stone from a new reef recently opened, and the specimens were on view yesberday at Mr. D. G. MacDonnell's office. The stone, which has all tho semblance of surface quartz, is, we are informed, taken from a reef which, so far as ib has been opened, varies from two to ten feet in width, and it contains nice streaks of gold in the blue veins which permeate the white quartz. The show is decidedly encouraging so far, and it is hoped that ib will develope into a prosperous discovery. . . CARBINE GOLD MINING COMPANY. The meeting of shareholders in the Carbine Gold Mining Company, which was to have been held yesterday afternoon, was put off for a week, as a sufficient number to form a quorum did not put in an. appearance. In his report the secretary states that two small parcels of quartz have been treated, one of these averaging loz to the ton, and the other 13§dwt. During the year 5430z of gold had been obtained, valued at £1456 Is lid. There was a great probability of improvement in the quartz at No. 3 level. The balance-sheet showed the total receipts to amount to £2091 Is lid, and the expenditure to £1758 Is 9d, leaving a credit balance of £333 0s 2d. NORFOLK GOLD MINING COMPANY. The second annual meeting of the Norfolk Gold Mining Company (Limited) was hold yesterday at the offices of Mr. D. G. MacDonnell, secretary, Insurance Buildings. In the absence of Mr. J. M. Alexander, chairman of directors, Mr. Walter J. Hill was elected to the chair. ■ ■'■■•. directors' report. The directors' report was read as follows :— to THE shareholders. Since last annual meeting operations have been chiefly confined to rising 60 feet from No. 2 level towards. the surface, sinking a winze 80 feet from No. 2 to No. 3 level, and driving on No. 3 level to connect with the winze sunk from No. 2. This latter work has been more costly and tedious than was anticipated, and will still take about two months from now to complete, otherwise the balance-sheet would present a much more favourable aspect than at present. ■ As the reef sunk on in the winze is of great width, and runs for a considerable extent through the ground, and as the ore broken out from it when ' treated at the battery averaged 1 about one ounce of gold per ton, worth i"3 0s per ounce, we may reasonably look forward to the company being in a very satisfactory financial position in about three months from now.

A resolution, as you are aware, was passed at an extraordinary meeting held on the 7th instant, whereby it was agreed to float this company .in Melbourne or .Sydney, and, judging from some correspondence received from Melbourne in reference to this matter, we are disposed to think that there is a very fair prospect of the company being floated. We hope the company will be floated, as we feel fully convinced that it is the most valuable mining property from this country that has yet been offered in the Melbourne or Sydney market, and that it will well repay the investment of capital, and thus may possibly be the means of introducing more foreign capital for investment in mining in New Zealand. On the other hand, we will not be disappointed should it not be floated, feeling satisfied that the mine will yet repay all those who have invested in it. The balance-sheet herewith piesented exhibits in full a statement of the receipts and expenditure, liabilities and assets, and capi- : tal account. The assets, as will be observed, inclusive of battery, but exclusive of the value of the mine, are£ll39 18s lldin excess of the liabilities. In pursuance of the company's Articles of Association, Messrs. J. Dickey and J. Mucky, Jun., retire from the directory, ami Mr. K. G. Macky from the auditorship, but being eligible for re-election, offer themselves same. John M. Alexander, Chairman. Second Annual Balance-sheet of the Norfolk Gold Mitring Company, Limited, for Year ending 21st, July, 1891. receipts. £ s. d. £ s. d. Balance from last balancesheet 146 6 0 Capital culled up, 7d per share, on 49,495 shares, £1443 12s Id—Received on account of same .. .. 1,327 16 10 Gold, 2620z I7dwt .. .. 814 13 8 2,042 9 0 £2,188 10 3 EXPENDITURE. £ S. U. £ 8. d. Mine Account— Wages and contracts.. .. 1,370 12 8 ■ Timber and other requisites --'52 1 8 Cartage .. 09 9 JO Wire tramway and hopper .. 01 19 11 Rent of licensed holdings and right'of tunnel .. 91 10 0 1.90S 14 1 Battery AccountWages 73 6 10 Timber ami coal .. .. 1", 7 7 Foundry work .. .. .. 29 22 117 16 7 Office Account— Salaries, property tax, insurance, rates, travelling, and other expenses .. .. 114 0 4 Advertising, stationery, telegrams, etc 24 0 0 » 138 IS 10 Balance .... 23 0 9 £2,188 16 3 LIABILITIES. £ s. d. Sundry creditors 99 4 1 Balance 1,139 18 11 £1,239 3 0 i ASSETS. £ s. d. Cash balance.. '". 23 0 9 Balance due on called up capital .. 215 10 3 Battery, mining plant, and water r.ico 1,000 0 0 £1,239 3 0 CAPITAL ACCOUNT. Dr. £ s. d. 50,000 shares at 10s each 25,000 0 0 Cr, 5s per share considered paid up at formation of company 12,500 0 0 Is 2d per share called up on 60,000 shares 2,916 13 4 Balance 9,533 IS 8 £25,000 0 0 Examined and found correct. R. Macky. 24th July, 1891. MINK MANAGER'S REPORT. The mine manager's report was read as follows :— Gentlemen,— submitting you the annual report, I have to congratulate the company on the improved prospects of the mine during the year. The ore crushed at the company's battery was 280 tons, which gave a return of 21Soz Qdwts, valued at £3 5s per ounce. All this ore was broken out from No. 2 level: this added to £8000 worth of gold which was taken out above this level when this mine was known as the California, speaks well for getting rich ore in Mo. 3 or low level when 1 the reef is interacted.

There have been 175 feet driven east on the California reef in No. 2 level. The reef for the whole of this distance will average five feet;,there is a little gold through it, and some parts of it prospect fairly well. It was not thought advisable to start stopiug operations in this end, as the backs are limited, and in view of the low level being pushed ahead, which will give 200 feet of backs in this end of the mine. There have been 200 feet driven on the Norfolk reef north and south. There were rich prospects of gold got in this reef, and a considerable amount of stoping done on payable grade ore. The winze stink on California reef from No. 2 level is down a depth of SO feet. There has been a considerable amount of stoping done from this winze. The reef has been taken out from five to 14 feet, the whole of which has been treated at the battery, and gave a return of ah ounce to the ton. Some complex ore taken from this winze gave assays of £50 per ton. So far as this winze has been sunk, the indications prove that rich ore will be got in the low level. A rise has been put up 60 feet from No. 2 level; this rise was partly put up for ventilation and also for prospecting this portion of the ground. There nave been 108 feet driven from the top of this rise to connect with Cook's level. There have been fair prospects, both in the rise and drive, but I am in hopes of getting some rich ore here.

No. 3or low level: This level Is now driven a distance of 440 feet; there is still a distance of 180 feet to be driven to intersect the reef. This drive is now going through a splendid channel of country, and has every appearance of continuing. This level will give 80 feet of backs west of the winze sunk from No. 2, and under all the runs of gold worked in the upper levels, and will give 200 feet east of winze, along the line of reef which traverses the whole of the company's ground for 2000 feet. Missouri level : This level has been cleaned out and repaired for a distance of 225 feet. This level is 160 lower than No. 3 or present low level. There are several well-known gold-bearing reefs cut in this level which were never driven upon, and with the expenditure of a little capital I believe would well repay the outlay. The company have added a valuable area of ground to their property, namely, the Sunbeam No. 1 and 2. There is a tunnel in this property driven 1400 feet, large enough to. work a horse in. There is also a rise from the tunnel connecting the upper workings. There have been several thousand tons crushed from this property, which gave a return of from 7dvvt to loz to the ton, when treating appliances were not as good at they are now. By putting this tunnel in repair the ore could be sent to the company's battery direct from the mine. I consider there is no better, investment for capital on the Thames goldaeld.— have, &c, James McLean, Mine Manager. On the motion of the Chairman, seconded by Mr. J. Macky, sen., the report and balance-sheet were unanimously adopted. Messrs. Jas. Dickey and J. Macky, jun., were re-elected directors, and Mr. R. G. Macky was re-elected auditor. A vote of thanks to the chairman terminated the meeting. MIME MANAGERS' REPORTS. Souvenir.During the week ending tlk, 25th, we have been pushing on the eastern face on big reef. 1. he lode continues about the same size, viz., 5 feet, the whole of which we are saving. It still continues to carry favourable minerals for gold. The ohannel of country in which the reef is running is good, being a nice class of sandstone, and black mineral veins are plentiful. The quantity of quartz on hand will be about 12 loads. Crackshot. —We have driven 5 feet this week. The clay dig on the hangingwull has died out, which makes progress a little tedious: We have now driven 27 feet through a good class of country for gold, and if it only continues until we get the east and west lode, I have every hope of getting something payable. In the quartz broken this week we saw a little gold, but nothing to save. Oalliooe. —The drive is still continuing in a splendid channel of country, with a tight rib of sandstone against the footwall of the reef, with promising mineral veins intersecting it, and which are striking into the reef. The reef was broken down up to face, as I informed you by wire, and good strong dal)3 of gold were seen through the quartz,.the gold being of a very coarse description. The reef still maintains its size, being about one foot wide. The stone contains excellent minerals, and_ the appearance of the reef is improving as it is driven on. There, has been a further length of eight feet stripped, and which will probably be broken down about the middle of next week. I have completed the paddock, shoot, with approach to them, also made a new truck. The tramway in the main tunnel has ako been overhauled and repaired where necessary. Consols.—The capability of the pump has been tested for 14 hours without the tanks, and reduced water in the shaft during those hours 22 feet, the engine going at ordinary speed. ' ~.