NEW ZEALAND MINING.

New Zealand Herald, Volume XXXIII, Issue 10085, 21 March 1896, Page 5

NEW ZEALAND MINING.

MEETINGS OF COMPANIES IN

LONDON.

BRILLIANT PROSPECTS BEFORE THE

COLONY.

A MINING BOOM EXPECTED.

LARGE AMOUNT OP CAPITAL READY

FOR INVESTMENT. [from our own CORRESPONDENT.]

London, February 7. During the past week various New Zealand gold mining companies have held special general meetings to confirm the resolutions passed at meetings held a short time buck, altering the respective articles of association in accordance with the requirements of the Act passed last year by the New Zealand Leeislature. ' Among the companies of which meetings were held were the Royal Oak aud Tokate'i of Hauraki, Scottv's Hauraki, the Wair.iSilverton Extended, the Koinata Reefs, the Waitekauri Extended, and the Victorhou All the meetings were held at Winchester House exoe|i„ that of the WaihiSilverton, which took place at the Cannonstreet Hotel. In moat cases a brief intimation was nude by the Chairman that everything was going on satisfactorily, but the proceedings were of a purely formal nature. In the case of the VV aihi-Silverton Extended company, the Chairman mentioned having just received a cable message from the Now ZeaI land manager to the effect that crushing would begin at the end of the current month. This was received with much satisfaction and applause. The provisions of last year's Act have given a great deal of trouble to the London officers of the various New Zealand mining companies affected. It happens that the same gentleman, Mr. E. W. Fellgate, holds the post of secretary to five different companies, the Royal Oak and Tokatea of Hauraki. Scotty's Hauraki, Waitekauri Extended, and Victor-Waihou. so that he has had his hands full in geting all his companies into conformity with the now law. In conversation yesterday with one of the leading financial journalists of London, he expressed the strongest opinions as to the brilliant prospects before New Zealand in respect of gold mining. He anticipates something very like a boom in New Zealand mines at no distant date, and I believe you will see shortly some exceedingly confident forecasts in this directiou in the principal financial papers. Among the points that are dwelt upon are the proved richness of some Northern New Zealand reefs, the geological probability, amounting almost to certainty, of their large extent, the favourable conditions of climate, carriage, and labour, and the encouraring attitude of the Government toward mining enterprise. These considerations are steadily influencing the British mind, and the British capitalist is already feeling in his breeches' pocket with a view to extensive investments. Mining investors, not merely in London, hut also on the European Continent, are looking forward with interested expectation to the coming report of Herr Schmeisser. the German expert, whose report on the Rand mines did so much to enaourage South African investment, and who after investigating Westralia, is now, I _ believe, on his way to New Zealand to inspeot your mines and auriferous country and to report upon them. It is quite certain that a large amount of capital in Paris, Berlin, and other European capita is ready to be invested in New Zealand'mining property if it be favourably reported on. I hope, therefore, that every facility will bo afforded to Herr Schmeisser, as he has it in his power to do the colony an excellent turn in the wty of bringing about the influx of fresh capital. Mr. Zimans, who, as i mentioned had ratlior a discouraging experience at first through having landed in the midst of the " slump," is now, I hear, " going ahead like wild fire" with his mining properties on the West Coast of the South Island, and expects to have some big things in the market directly. With regard to Mr. Ziman's various enterprises in connection with the South Island gold mining properties, lust before closing this letter, I learn generally that Mr. Ziinan s schemes havo met with success, and that the necessary funds have been provided and remitted to the colony, but the details and the exact shape matters are to take, have not vet been decided, and still are the subject of negotiation.