THE MAY QUEEN G.M.C.

New Zealand Herald, Volume XXVIII, Issue 8670, 12 September 1891, Page 3

THE MAY QUEEN G.M.C.

TO THE EDITOR. Sir,—lt is rather unfortunate that a largo number of the Auckland shareholders in the above company have formed too high an estimate of the value of the ore which is now being broken out from the No. 2 level. They value it at 4oz or soz tier load, whereas th'o general opinion on the Thames is that it will not go more than L'oz, and if it does average 2oz it will be the cheapest mining property on the lnames at the present prices. The shareholders above referred to were very much disappointed because there was not a haul of picked stone when the reef was broken at this level, and a sudden drop in shares showed that very plainly. As there are a large number at the present time engaged in speculating or investing -in mining stocks who know nothing of the peculiar nature of the Waiokaraka reefs where the May Queen is situated, I would like, with your permission, to givo them a little information on the subject. In the good old days the claims situated on the waiokaraka were the Queen of Beauty, City of London, Bright Smile, Queen of the May, and Bird in Hand. These five claims employed about one thousand hands, and kept about two hundred stampers continually employed, and specimens were the exception, not the rule, indeed I never remember to have seen a wire reporting picked stone, and yet they paid dividends, and I have no hesitation in saying that the May Queen will also pay dividends even although they do not get specimens. I would certainly prefer a good average reef, which I am satisfied they have got. lam not, and never have been, a shareholder, but I do like to see energy and perseverance rewarded.— am, etc., Ax Old Thames Miner,