NEW ZEALAND MINING.

New Zealand Herald, Volume XXXIII, Issue 10080, 16 March 1896, Page 5

NEW ZEALAND MINING.

[FKOM OUR OWN CORRESPONDENT.]

London, January 31. COMPANIES REGISTERED.

New Zealand mining matters are beginning to brighten up considerably, and I hear of several new enterprises being likely to appear next month. Since last I wrote the following new New Zealand companies been registered. New Zealand Exploration Company, Limited, registered by Phillips, Cumminga, and Mason, 14, Sherborne Lane, E.C., _ with a capital of £125,000, divded into 125,200 shares (of £1 each, 200 of which are founders'. Object: To acquire all or any of the properties, mines, mining, water and other rights, grants, leases, claims, concessions, options, metalliferous land, etc., the property of the New Zealand Syndicate, upon the terms ot an agreement, made January 9, between the Compagnie PranQaise des Mines d'Or et d'Exploration of the first part, the Banque Internationale da Paris of the second part, the West Australian and General Association, Limited, of the third part, Baron James do Hirsch of the fourth part, and G. G. W. Hay ward, on behalf of this company, of the filth part; to develop, work, and generally turn to account the said properties in'such manner as the company shall see fit, and to carry on the business of a mining, milling, smelting, and metallurgical company in all or any of its branches. The first directors—of whom there shall be not less than four nor more than ten—are : Baron James de Hirsch, Le Comte de Camondo, J. luilp, R. G. Levey, J. ]!• Lukacli, and E. May. Qualification, i 250._ Remuneration, £100 per annum each and 5 per cent, of the net profits, divisible. Shamrock Gold Mining Company, Limited, registered by Ashurst, Morris, Crisp and Co., 17, Throgmorton Avenue, E.C., with a capital of £100,000, divided into 100,000 shares of £1 each. Object: To adopt and carry into effect an agreement expressed to bo made between John Morison and Thomas S. Marshall of the one part and this company of the other part, and to acquire, work, dovelop, carry out, exercise, and turn to accent any gold mines, mining rights, and auriferous lands, etc., in Autralia or elsewhere, and to carry 011 the business of a mining aud smelting company generally. Thames Hauraki Goldfields (Limited), registered by Morgan, Price, and Mewburn, 33, Old Broad-street, E.G., with a capital of £300,000, divided into 300,000 shares of £1 each. Object: To acquire certain mining property, mining, water, and other rights, interests, grants, leases, claims, concessions, benefits, licenses, etc., relating to mines at Hauraki, in the Aroha district of the colony of New Zealand, 111 accordance with an agreement expressed to be made beween tho Austiufriars Finance Syndicate (Limited) of the one part and this company of the other part; generally, to get, win, work, raiso. crush, manipulate, and prepare for market gold and other metals and minerals. The signatories are: —A. E. Mitchell, Lubbock Road, Chislehurst, Kent; if. Casse, Alma Road, Wandsworth; G. T. Luptou, 272, Upland Road, East Dtilwich; V. D. Phaii-,9, Perncllffe Road, Da la ton ; W.J. Hiam,B, Scarborough Road, N. : 15. A. Wilkinson, 69, Caledonian Road, N.; C. F. Shackel, 15, Austinfriars, E.G. The first directors of whom there shall be not less than three nor more than seven—are to bo elected by tho signatories. Qualification, £200. Remuneration, £150 per annum each; chairman, £250.

WAIHI GRAND JUNCTION. The first ordinary general meeting of the Waihi Grand Junction Gold Company, Limited, was held at Winchester louse, E.C., on Wednesday last. The chairman, Mr. Lennard Welstead, said that although this company was brought out when markets were in a bad condition, the capital was subscribed several times over. He went on to say, "No doubt you would like to know something about one Board in New Zealand, Mr. Morton and Mr. George, two of the members, are well known and highly respected business men of Auckland, who have acquired great knowledge of mining, and the former gentleman is not only widely known in New Zealand but also in England. The third gentleman, Mr. Chambers, is a membo.' of the firm of J. Chambers and Sons, one of the best known firms in Auckland; in fact these gentlemen are men of high standing, on whom every relianco can be placed. I may mention that the late manager of the mine, Mr. Walker requested to bo relieved and this was done. The syndicate to which the property originally belonged have transferred the property, machinery, etc., to the company, and everything is going oil satisfactorily, I think that the shareholders have a very valuable property, adjoining, as our property does, such claims as the Waihi and \Vrtihi-Sil etc. Shafts have been sunk 011 our property and the surface matter was found to be the same as that of the Waihi and the Waihi-Silvcrton properties, in fact, nearly all the reefs in the surrounding properties seoni to be working their way towards ours, and there is no reason whatever to doubt , that these reefs will, when our property has been sufficiently worked, be found on our property, and that they will be as rich as those struck on the Waihi and Waihi - Silverton. I may also mention that the Welcome reef just found on the Waihi property is also making its way towards the Waihi ground. We have at the present moment 42 men at work, and everything is being done to make the company a success in as short a timo us possible. No questions were asked by the shareholders. A vote of thanks was given to the chairman, who acknowledged their kindness, but said all the credit was due to the syndicated Board. Up to only a day or two ago, he having been in the position of vendor, had 110: been allowed to join the Board. MINKS AT COROMANDEL.

I learn that the block of ground, containing 83 acres, adjoining the Ktipanga township and the Taumatawnine and Success blocks, and known as the Otamoho Kauri Block, has been secur*"! by a London syndicate, whose intention is to provide ample working capital for its speedy exploitation. I understand that the great Tokatea reef strikes right through this block, due north and south, the outcrop of which shows in several places, where lingo blocks of tho reef have broken off. The reef, it is stated, dips oast, and ranges where seen from 40 to 100 feot in thickness, while on the eastern or footwall side it carries a comparatively soft channel of country, varving from 20 to 30 feet thick, and many small lodes atriko into this channel at various angles. The ground, I am told, is admirably situated for mining operations on a largo scale at a very low cost, as it is deoply indented with gullies, which will give openings for adit levels of from 200 to 500 feet depth from tho surface. It adjoins the New Hauraki property. KAPANGA AND HAURAKI.

Special general meetings of tho Kapanga Gold Mining Company (Limited), the Hauraki Gold Mining Company (Limited), and the Blagrove's Freehold Gold Mining Company (Limited) wero held to-day at Winchester House, Old Broad-street, Mr. Henry Wilson in tho chair, to pass certain resolutions rondered necessary by tho recent Act of the Legislation of Now Zealand requiring every foreign company to make provision for tho registration in the colony of transfers of its shares and the execution and issue in

the colony of scrip certificates, or documents of title, in respeot to shares. The resolutions were put to the meeting and passod unanimously in all three cases, Mr. J. H. Witheford addressed tho meet* ing; and spoko kindly of both the Kapanga and the Hauraki. He said the former proporty in his opinion had Bomo of tho richest reefs in the world; but, of course, that had not been found yet. They certainly had been put back for want ot machinery and men, but now that was got over everything was going on in a very satisfactory manner. The Hauraki mine had produced £87,118 4s in less than a year. This return he thought a very good one. Ho was delighted to be able to teU them that the Now Zealand Government was giving every facility to mining industry, and New Zealand, unlike South Africa, was not handicapped by Boers, their Boers were the Maoris, and they only required a royalty of £1 yearly for every man working at mining, so they would have no fear of any such trouble as is now going on in the Transvaal. In fact, a message was recently sent to the Quecu, informing Her Majesty that tho Maoris would be willing to go to Africa'and fight the Boers. The Chairman said that as regarded the Blagrove's mino, this company was in its infancy, so that nothing of much importance had been done. They certainly had sunk one shaft down to a depth of 200 feet; this was, of course, all that could be expected in the time.

A shareholder In nil three companies proposed a vote of thanks, which was seconded by Mr, Witheford, and passed unanimously, and the meeting closed. About 50 shareholders were present. Tho first ordinary meeting of the Kathleen Gold Mining Company was held last Monday,, Mr. Henry Wilson presiding The Chairman gave an encouraging account of the position and prospects of the company, and the resolutions rendered necessary bytile recent New Zealand Act were duly passed. MISCELLANEOUS. MISCELLANEOUS.

In an early issue of tho Statist you may expect to find an interesting and instructive article on New Zealand mining. The mining editor of that well-known financial journal Spent all this morning in your London office carefully studying the New Zealand Herald

and other Mew Zealand papers, with the object, as he said, of gleaning the fullest and latest information on the subject. Ho has Bince been interviewing the Agent-General with a like purpose. I quote the following remarks from the Society Attention is being given to a new enterprise entitled East Hauraki, whose shares are quoted at 5s 3d. The company's mines are well reported on by several high authorities in the colony, and Capt. Thomas, as mining engineer, who has been familiar with the ground for 17 years, affords testimony as to the immense richness of the area acquired. Ho states that it is intersected by at least 20 reefs, most of which are rich, and all gold-beariug, the largest having a lode of upwards of 70 feet in breadth— lode which yields four ounces of gold to the ton. He calculates that if only 400 tons of stone per month are won (the winning being by levels and not by shafts) tho net profits should not be less than £5000 per month, or £60,000 a year. As a matter of course, this relatively small output will be largely increased after the first year's development, for in the second year at least double this profit may be reckoned upon. These mines compare favourably with others, in a district famous for its gold production— and such is the character of the East Hauraki property that Captain Thomas states that millions of tons of rich ore can be won by adits, and that practically the quantity of good stone is inexhaustible." From a prominent, member of the London Stock Exchange I'have just received the following latest quotations:—Waitekauri, 3? to 3J ; VVuihi, 5 1316 th to 51516 th ; Hauraki, 8s to 8s Gd; Woodstock, 1 to 1}; Kapanga, 8s 9J to 9s 3d; 'Waitekauri Extended, 5-lGth to 7-16 th ; Triumph, Hauraki, 4s to ss: Scotty's, Hauraki, Is (id to 2s. Other New Zealand mining quotations this afternoon, are as follow :—Blagrove's, 2s Oil to 3s 9d ; Hauraki East, 4s Gd to 5s Gd; Hauraki, new, 3s to 4s -, Kathleen, 2s IJd to 2s4sd; Royal Oak, 2s 3d to 2s 9d ; Taratu, 4s to ss; Tokatea, Is 9d to 2s 3d; WaihiSilverton, 21 to 3|; Union Waihi, gto 3 premium : Gleurock, Is IOJd to 2s ljd.