THE GOLDFIELDS.

New Zealand Herald, Volume XXXIII, Issue 10033, 21 January 1896, Page 6

THE GOLDFIELDS.

I [BY TELEGRAPH— CORRESPONDENT.] J g Thames, Monday. Sharemarket.— tales 3s, buyers 3s, sellers 3s 3d; New Whan, sales 6d, 7d; Moanataiari, buyers 5s 9d; Crown, buyors 27s 6d; Puru Consolidated, buyers Bd, sellers Is 2d; May Queen, sellers 8s 3d ; Alburnia, sellers, ss; Puriri, sellers, 9d; Argosy, sellers 6d ; Monowai, sellers 4d. Sheridan. — Since the resumption of sinking operations in this mine, a depth of 14 feet has been sunk through a tight class of country, and, notwithstanding the stiff nature of the rock penetrated, the progress made is considered exceptionally good. If the present rate of progross continues, which is aboub ten feeb per week, the required depth should be very shortly reached, and the permanent development o:f the Golden Point and Sheridan lodes will eventuate. Puru Consolidated. — Owing to tho country abutting on to the hangingwall of the Rimu reef in the Russell section becoming somewhat tight in nature, it had the effect of heaving the lode into the footwall a distance of four feet. _ Prior to this the lode was pinched in feize, but where pickod up on the footwall it not only assumed its usual size, bub showed strqng coarse gold in the few pieces of quartz that were broken out. Fourteen feet were driven for the week, and it is intended to have a general breaking during the presonb week. The other prospecting works in the Uranus section are without change. Victoria.— success attending the development of the new reof at the No. 1 level, Prince Imperial sbafb, advanced another stage. The manager (Mr. T. A. Dunlop) forwarded a very encouraging telegram to Auckland, stating that upon continuing the crosscut at the level referred to above, another leader' was intersected showing gold ; while a few pounds of picked stone were also saved from amongst the quartz broken. This lode is quite a stranger to any of those originally worked by the old Prince Imperial Company, although running in a parallel course to the Mariner and other lodes situated on the south-easb side of tho shaft. Tho lode— ib is it thought ib will mean a new era of life to the company— through the shaft in close proximity to the surface, and from there underlies strongly to the westward. From what can bo gathered the original company's works were not extended in the direction of the dip of this lode, consequently it should be quite intact and unexplored in any parb of the mine with the exception of the extended operations of the adit level behind the shaft. Ib will bo seen that the present developments on this new lode are likely to lead to highly important results.

j THE QUEEN OF BEAUTY. ■ [by telegraph.—own correspondent.] Thames, Monday. On Wednesday the Minister of Mines will receive deputations at the Thames with regard to the Queen of Beauty property. Mr. Dunlop had audience with Mr. Gordon, the Mining Inspector, this evening, when the size of shaft, timbers, etc., were discussed, bub before deciding definitely on these matters Mr. Gordon agreed to meet Mr. Dunlop on the ground in question, on Wednesday, and make a personal inspection of the property. As a result of Mr. Gordon's visit, plans and specifications will probably be drawn up shortly, and the now works prepared for contracts, as the aid, which is to be received from the Government, will be available in the shape of a £ for £ subsidy. PLAN OF KUAOTUNU. Mr. James Slator, engineer and draftsman, has issued a new map of the Kuaotunu goldfields, compiled from the latest records in the Government Survey Office. The plan comprises most of the recent additions to the mining areas, and is in every respect a careful compilation. The plan has been lithographed at the Herald Printing Works, and is now on sale at the stationers' shops, etc. ROSEBERY G.M. CO.

A meeting of shareholders iu the Rosebery Gold Miniotr -Company, called by request of a certain number of holders of shares, was held yesterday afternoon at the office of Mr. J. H. Harrison. Mr. H. Brett presided, and there was a large attendance. The requisition for the meeting having been read, The Chairman asked that some of those who had signed should explain why they wanted the meeting called. Mr. Earl said he had signed the requisition but was not one of the originators. It appeared, however, that the ground of the company adjoined that of the Nil Desperandum, which had turned out more or less a failure, and it had seemed desirable to consider whether the Rosebery shareholders should goon any further in paying directors, legal manager, and other officers of the company to manage a concern which did not seem to give much hope of success. Expressing his own view, he would 'like to know what had been done, what the prospects were, how much money there was in hand, and whether it was not desirable to liquidate the company ? he Chairman asked for other expressions of opinion. Mr. Earl (after consultation) said he appeared to have expressed the views of the other signatories. The Chairman said the Rosebery ground' had been taken up in consequence of the excellent returns got from assays at the Nil Desperandum, which adjoined. The pro perty had been looked upon then as of the very best. The result of the Nil Desperandum crushings, however, had not been satisfactory. The Nil Desperandum directors had now arranged that an expert should go down and thoroughly examine their pro-1 perty, and have independent assays made. Personally, he (the chairman) was confident that the portion of the quartz" in the winzo running down for over 50 feet would pay remarkably well. The other portion they were also led to believe would also prove payable, but the directors of the Nil Desperandum did not wish to say more until they had the expert's report. As to what there was in hand of the Rosebery, as far as he was aware no money had been spent except that paid to the legal manager. Mr. J. H. Harrison: And he has not received a penny. The Chairman, continuing, said what they wanted to find out was whether the Nil Desperandum was a success or not? If it was, then the Rosebory would be a good property. If it was not, then ho would nave, without being asked, called a meeting to consider whether there should not be a wind-up, and the money distributed. He thought the shareholders had acted wisely in not spending anything. If the Nil Desperandum turned out a success, it would no doubt be an advantage to amalgamate. In answor to a question, Mr. Harrison said the ground would be granted next Court day. " A Shareholder asked how it was the Company had been registered before the ground had been obtained \ The Chairman said that had been done before -in other companies, though he was not one for it,' The directors did not wish to put it on the market, but the public were anxious that it should be. A shareholder asked if the company had not been registered immediately people had asked to have their money back ? The Chairman did not know of anyone so asking. It was the duty of the legal manager to get the Company registered as soon as he received instructions so to do.

Mr. Harrison said when a person was entrusted with the formation of a company he was obliged to have a free hand in getting subscribers and dealing with them. But from the moment a meeting took place and directors were appointed, the manager had not power to give back a farthing. The money was put into a trust account and not touched until the ground was granted. No disbursements whatever had been made. A report on the property, by Mr, Clarkson, having been read, Tha Chairman said he thought it the wiser course to wait for the report of the expert in the Nil Desperandum. Mr. Earl said he did not for-a moment wish it to be understood that there was any ciuse of complaint against the directors. They appeared to have conserved the shareholders' money better than had been the caso with many other companies. Ib was'then decided to adjourn the meeting until the Nil Desperandum report was received.

Votes of thanks to the directors for conserving the funds and to the chairman for presiding were passed before the shareholders dispersed.

AUCKLAND SHAREMARKET. Business transaafced yesterday on the Auckland Stock Exchange was not by any means heavy, thouqh there .were not wanting buyers. In investing stocks there were purchasers of National Insurances at 18? 6d, and of Rircr Plates at 5s 6d. ' Offers were made, too, for Auckland Gas (ne.w) at £6 3s, with no sellers. There was a sale in Union Oils at 16s 9d. In mining stocks there were transactions in New Moanataiaris at 63, though buyers came down to the previous day's rate.

viz., 5s 6d. There was a call for Victorias and business was done at from 33 Id to 2s lid, with farther buyers at '2s lOd.. Cardigans were done at Is 6d, and Queen of Wahis at 2s 9d. Byron Bays eased. WaihiSilvertons changed owners at 595, but at the close there were no buyers, and sellers prices were 60s. Woodstocks were firm, and Waitekauris hardened, there being buyers of the latter at 83s, and no sellers under 90s. Talismans were in little less demand. Ivauhoes were a trifle better. There were sales in Ward Proprietary at lid, with sellers at Is, Kapai-Vermonts were about the same, while Try Flukes eased. Bunker Hills fell from sales 6a 3ti to 5s 9d, and for sellers at Gs Id to sa. Hauraki No. 2*B and Welcome Finds were firm. FREE STOCK EXCHANGE. But light business was done yesterday at the Free Exchange the sales effected being in Victoriasat 3a ld.audNil Desperandumsat 6d. There were buyers in the following —May Queen, 7s 9d: Victoria, 2s JOd • Cardigan, Is 3d ; Nil Desperandum, 6d ; Waihi Consols, lOd; Young New Zealand, Is OJd; Byron Bay, ll|d: Golden Anchor, Is; KapaiVermont, Ss; Maorilaud, 8d; Midas, Is; Aurora, 'Sjsd. MINE MANAGERS' REPORTS. Jupiter (Kuaotuuu, January 18).— low crosscut in Golden City section has been extendod 23 feot. The country is improving in appearance and there are some small stringers of quartz showing in it. The east and west crosscuts in surface levels in Nonpareil section will be holed through in another 20 feet of driving. When this is completed the drive from end to end will measure about 340 feet. The low crosscut in this section has been extended about 20 feet and is now in 60 feet. The country is highly mineralised. Sooth British (Karangahake, January 17). —Have decided for the present to carry out a system of surface prospecting. Karaxgahake (Karangahake, January 18).—I hare decided to carry out a system of prospecting works for the preseut during the prevailing favourable weather. No. 1 drive is at present in 53 feet. The country is not favourable, but the lode is at present very much pinched and broken up. The main crosscut is now in 89 feot from the entrance. The country is somewhat 1 tight for working, and not what I would call a favourable class for gold. A number of quartz stringers are crossing the drivo near the face.

Waitekauri Sooth (Waitekauri, January 14).—Waitekauri spur: Good progress has been made, and the country is becoming more solid as we advance. Last night a nice-look-ing reef was cut, about two feet thick, which had every appearance of being gold beariuc. This is a distinct body from any < I have cut on the surface. The distance driven to date is a little over 100 feet.

Golden Hill Extended (Coromandel, I January 17).—Have been driving on a new I leader on tlio eastern boundary of the Golden Crown portion of the mine. The leader is about 15 inches through at the bottom of the drive, and about eight iuches on top, with good walls, and carries fairly good prospects of gold. Try Futke (Kuaotunu, January 18). —Have driven south on the main reef at No. 4 level 25 feet during the week, and I am saving for crushing about 18 inches of the footwall portion of the lode. We are also rising and stoping on a block south from the main crosscut above No. 3 level, In Carbine section am working a portion of the main reef near the surface. It is low grade ore, but there is a small lead or dropper gone off in the footwall that gives really good prospects. Am driving a crosscut west from No. 1 level to cut it, and expect to have it in hand during next week. At Mariposa am underhand stoping below No. 2 level and I intend sinking on the reef to ascertaiu its value at a deeper level. In Venus section am driving on the western branch of the Red Mercury reef. It is at present very small. Am also stoping on the Fluke reef in this section of the mine and am saving for the mill from nine to 12 inches of the footwall portion of the lode, which gives fair prospects. I shall commence crushing this oro next week. Have ou hand' from the plates 40 ounces amalgam. Scandinavian (Thames), — The intermediate crosscut is now ICS feet, 16 foet having been driven for ,the week. The country has changed to a favourable brown sandstone, and there is a lot of water making in the face. No. 2 reef is being continued. The reef still keeps a good size, and gives fair dish prospects. Wynyardton (Coromandel, January 18). The sinking of the shaft has now reached a depth of 68 feet. The class of country penetrated is still of a favourable nature. Golden Anchor (Kuaotunu, January 1"). The big reef in the surface level: This reef has been rut into for a distance of 18 feet without any sign of the other wall. It is composed of a mass of quartz stringers with hard flinty stone between them, which makes it slow for progress. Though we have not 'seen any gold in the stone, I cannot get a fair prospect with the dish. limcTA (Kuaotunu, January 17).— 2 level has been extended 7 feet. There is about 1 foot of quartz, but mixed up a good deal with country rook. A few colours of gold were obtained from the last tests made. The country is rather tight which makes progress slower than otherwise. A crosscut was started at No. 1 level to intersect a new leader met with in the stopes, and has been driven 19 feet aud a leader cut, but I am unable to say whether it is the oue met with in the stopes or not. No. 6 stope south has becu extended 16 feet but no quartz broken. A new leader was met with in No. 6 stope striking in a westerly directicn, which we have followed 12 feet, and it has opened out to 2 to 3 feet of quartz, portions of which show a nice band of very coarse gold and give a very good prospect. Tararc Creek (Thames, January 11), — Norfolk section: Stoping above the intermediate level on the California reef is still in progress. A fourth stope, starting from the winze, has been carried along 20 feet. The reef here averages fully ten feet in width. It is heavily mineralised with galena ore, aud the whole is being sent to the battery for treatment, The low level on the same reef has advanced a further distance of 12 feet. A little water is now coming in the face, and a change may take plaoa at any moment. The Missouri main crosscut has been extended six feet. The drive is still penetrating a good class of country for gold. Dunedin section: The present low level on the Day Dawn reef has been carried forward six feet. The reef in the face is fully four feet in thickness, but shows no change. The tributers' level on the same reef has been carried forward five feet. The lode in this face is six feet in thickness. The haugiugwall portion is of a friable nature, and is carrying good mineral for gold. A crosscut has been started from this level to intersect the reef running parallel with that which we are now working. There are two stopes in progress above this level. The reef all through averages three feet, and the whole is being I saved for treatment. Good headway has been made with cleaning out the City of Dunedin low level, 30 feet having been completed during the week. The crosscut to intersect the California reef in this section has been extended 11 feet. Everything is working smoothly at the battery. The amount of amalgam for the week is 6t)oz 19dwt, making the total amount on hand 141oz 17dwt. Welcome Find (Coromandel, January 17). —The drive on No. 1 lode at the low level has been extended 27 feet south-west from the main crosscut. There are strong ribs of quartz-running almost in all directions at this point. The country is of a nice blue description. Ohui (Tairua, January 15).— 2 tunnel is being continued with two men working single-handed. Distance advanced during week, six feet, making total distance driven 143 feet. Country is a whits sandstone, more favourable for working, Bell Hock (Thames, January 20).—Started driving ou the fault at No. 1 level to cut the Bell Rock reef; have driven a distance of 11 feet during the week. It is a splendid blue sandstone country, mixed with fliity quartz carrying some blocky mineral. Cleaned out No. 2 level, which is in a distance of 64 feet. The course is about east and west. Shall open out on both sides of the reef to prospect it, as I saw a little gold on the tip head. Kaiser (Thames, January 18).—The drive on the reef has now been extended a distanco of 85 feet, 18 feet being driven for the week. Thee reef is fully three feet thick in the face, composed of kindly looking quartz, the country is also of a good description, the soft ground on the hungingwall has now given J place to a nice firm sandstone. The crosscut) I drive has been extended ten feet fot'_the week, thus making the total distanco driven 301) feet. The country is about the same. Haukaki Extended (Coromandel, January 18). —Have extended the crosscut west a. further distance of 20 feet, making a total distance from-the mam drive of 55 foet. The ground is sotter with detached quartz in the Zsalandia (Coromandel. January 18).— Have been driving from Steward's Crosscut a branch drive to cut a reef which we know crosses the gully. We have driven 16 feet, and expect to cut the reef iu about ten feet more driving. * Midas (Kuaotunu, January 17). — East crosscut: " This drive , is penetrating a beautiful class'of sandstone. West crosscut : This ground is of a very firm description and fall of iron veins, which makes progress very slow. Haoraki North (Coromandel, January 18).—The reef has been cut at a distance of 27 feet from the shaft. The same being a strong body of ore varying from 18 indies to 3 feet, and showing gold freely where "cut. Have now driven on the reef 12 feet to vho , south-east, and connected with old workings.

The north-west end has also been driven on for a distance of 10 feet. The reef here is intact so far and .■ looks well. There are several other reefs east from.the shaft, which have in early days turned out a lot of gold. Since the above I have obtained some very nice stone, better than anything I have seen before here. Waitaia (Kuaotunu, January 17).—N0. 3 reef, low level: Drive going north has been extended 11 feet since last report. The footwall portion of reef is split up into stringers. The liaugingwall branch, which is from four, te six inches in width, showed strong blotches of gold last breaking down. The rise south of flatsheet is up 76 feet; the ground still requires securing with frame sots.' The reef is from six to fourteen inches in width, the quartz being low grade stuff intermixed 'with country rook. Gladys (Kuaotunu, January 17). Started on the 7th instant on a reef which varies from six inches to one foot six inches wide. It prospects equal to ioz per ton. The face of drive north is the best, and should it keep its present course, will run the whole length of your ground. In the south face the reef is very small, and the are poor. This reef has no connection whatever with leader reported in the trench. HAZBiiBANK (Thames, January Work confined to driving on the cross reef at an intermediate level started from the top of a rise that lias been put up from No. 1 level, and stoping on Kelly's lead. The drive on the cross reef has been extended a distance of 10 feet this week. Tho reef is not as compact as it was further back, it being more mixed with the country. Still, the footwall portion iscarrying excellent mineral, amongst which a little gold was seen in breaking it out yesterday. In the stopes on Kelly's the lead varies from three inches to one foot in thickness. The country is of a very tough nature. Victoria.— mine manager telegraphed yesterday I "ltfcontinuiug crosscut at No. 1 another leader was cut showing gold; a'few pounds picked stone saved." Maori Dream (Kuaotunu, January 17). Crosscut still in a nice channel of country. Progress is rather slow owing to the large quantity of iron veins running through the ground. The drive on the course of the . reef has been extended six feet: it is about, one foot wide and prospects equal to loz per ton. The trench is still being extonded and a- nice reef about 15 inches has been cut worth about 15dwts per ton, New Tokatf.a (Coromandcl, January 18), —The low level has been extended for the week nine feet, the reef improving very much as work progresses. In breaking down the reef yesterday afternoon 1 could freely see strong blotches of gold in the stone of a much higher colour than the gold previously obtained. Tho rise has been risen for a further distance of three feet. The reef looks much about the same. The winze: No. 2 stope has been driven four feet for the week, the reef improving. I am still getting strong blotches of gold in the ore, also really good prospects of loose gold by panning off. The crushing dirt coming to hand from here ought to be of high grade. Southern Cross (Coromandel, January 18).-The country is good and likewise the stone, One reef is about 12 inches, and the other is about four inches. The one of four inches appears to me to be tho best. I think that they will come together soon. '* * Prospector (Kuaotunu, January 17).— Resumed miuiug operations on the 6th, The drive on the reef lias gono very small, and so poor that it is not worth saviug._ The crosscut has been driven 12 feet, and is in a splendid class of sandstone. Great United (Kuaotunu, January 17). — The country in the crosscut has got much softer during the week, and is of a splendid description For gold, being full of silica veins and miueral heads. Britannia (Coromandel, January 17). — The shaft has been sunk a further depth of four feet, through a favourable class of country. Harbour View (Coromandel, January 17). —Extended stope on Simpson's reef at No. 4 level seven feet, making a total of 46 feet from the rise. The ground is still very tight. To-day cut a cross leader. The leader is making bigger, about six inches, and very tight on the wall. The country is well miucralised, The directors of the Waitekanri King have lost no time in carrving out the wishes of subscribers, expressed a few days ago, as to registration and development. > Four men have been engaged to proceed with the opening up of the four-foot reef already reported, and it has been decided to make further tests to prove assays. Tho notice of registration appears in another column.