THE GOLDFIELDS.

New Zealand Herald, Volume XXXIII, Issue 10130, 13 May 1896, Page 6

THE GOLDFIELDS.

PHOENIX G.M.C. (NO LIABILITY).

Thames, Tuesday.

Sharemarket.— sales 4d; Cambria, sellers Is 6d, buyers It 4d; Golden Point, sellers Is 9d; May Queen Extended, sales sd, sellers 7d, buyers 6d; Moanataiari, sellers lis 6d; Stanley, sales lljd, Is; Victoria, sellers 3a Bd.

Moanataiabi.— return of 255 ozs melted gold was to-day assayed and sold to the Bank of New Zealand for the sum of £68459.

NEW ZEALAND CROWN MINES.

REPORTED SALE.

> It was stated yesterday that the negotiations which have been in progress for some time, on the part of the syndicate owning the Earl of Glasgow property, for the acquisition of the New Zealand Crown Mines Company's property, had been completed, the terms mentioned being £3 a share for the Crown shares, this, however, being left to an arbitrator to decide. The report of the Crown directors presented at a meeting held in Glasgow on April Ist states that the negotiations nad been in progress for some time with a view to amalgamation; that the Crown Mines Board had boen invited to send a deputation to Paris to meet the Earl of

Glasgow syndicate, but as ultimately ar-1 ranged several meetings for the discussion of the proposed terms took place in London. The report referred to also states that " after providing for depreciation and redemption of capital to the oxtent of £2709 2a od, and writing off one-third ot the reconstruction expenses there remained a balance at credit of profit and loss account of £4600 8s 3d. From this sum the directors recommended the payment of a divider' of Is per share on the shares 17s paid up, and of Is 2jjd per share on the shares fully paid, free of income tax, which absorbed £4390 16s, leaving a balance of £200 12s 3d to be carried forward to next year. This division was equal to nearly 6 per cent, on the paid-n" capital. During the year 503* tons of ore wine treated from which 5732 ounces of gold and 6714 ounces of silver were recovered to the value of £23,828 3s Id after deducting gold duty. The average yield was £4 14s 8a per ton. An additional head of 20 stamps and the necessary cyanide plant and buildings were in course of erection; with the new plant in operation about 960 tons of ore could be put through per month. The directors regretted the death of Mr. R. Spratt."

SCANDINAVIAN G.M. CO. A general meeting of shareholders in the Scandinavian Gold Mining Company (No Liability) was held at the office of the legal manager, Mr. W. Elliot, Bank of New Zealand Buildings, yesterday afternoon. There was a large attendance present, Mr. J. T. Julian, Chairman of Directors, presiding. The meeting was called for the purpose of empowering the directors to sell the property, negotiations for which are now proceeding in London, and for the authorisation of the execution of all necessary deeds to effect any sale. In answer to a subscriber the chairman explained that the particulars of the terms of the sale could be obtained from the manager, and that the purchasers were required to pay the sum of £500 before the end of May, the option of purchase to be open to them three months after the receipt of the plans and reports, which should be in Loudon on the 22na inst. The area of the property was stated to be over 54 acres, the shares 80,000, of which 70,000 have been subscribed and 10,000 reserved for the company. The resolutions moved by Mr, J. Thornes and seconded by Mr. Finch- were put to the meeting and carried.

An extraordinary general meeting of shareholders of the Phoenix Gold Mining Company (No liability), was held yesterday at Mr. J. J. Mackv's office, Arcade Buildings, Mr. M. Niccol presiding. The chairman explained that the object of the meeting was to increase the capital of the company, in order that they might acquire additional ground. The Ascot shareholders had

opened negotiations with a view to amalgamation, and it was thought the opportunity should not be lost, for the Ascot contained 30 acres and the Phcenix 22 acres. Then came the question of whether they should not further increase their capital, so as to be in a position to purchase other property. He moved that the capital be increased by the issue of 20,000 shares of 3s each, ail paid up, thus increasing the capital to £12,000. The motion was seconded by Mr. Hull and carried.

THE TAIRUA BLOCKS. Mr. James Mackay bas been in correspondence with the Hon. Mr. Cadman in reference to the position of the Tairua leases. Mr. Mackay has wired as follows" You are in error in regard to Pakirarahi. That blnck is included in the proclamation of April 8, 1875, so, therefore, it is under your jurisdiction." Mr. Cadman has replied to this" Pakirarahi is included under the proclamation, but that does not confer the right to mine on it. It was not Crown lands, or lands ceded for mining purposes when that proclamation was issued.' To this Mr. Mackay has replied" That block was included within the proclamation, which gave the right to mine on it. As to its being ceded to the Government, it was ceded. It took several months to complete the agreement of March 9, 1868. The natives then gave me Pakirarahi, both inside and outside that agreement. When Dr. Pollen, in 1875, asked me to draw the proclamation I did so, but before doing so I went to Hohepa Paraone and to the other natives interested, and asked them if I should include within the proclamation their lands which they had previously ceded to me. They gave their assent, and the lands were included. They have drawn the miners' rights' fees since."

MAY QUEEN EXTENDED. Yesterday Mr. J. J. Macky posted a notice at the Exchange, Btating that a copy of the contract for the option of sale of the May Queen Extended had been received from Loudon by the directors in the following terms Capital of the company, £150,000, in £1 shares; 40, shares to go to vendors; working capital of £30,000 to be provided; flotation to be completed by Juue 13. A deposit of £250, it was also stated, had been paid in London.

SOVEREIGN. Mr. Duncan E. Clerk has, it is stated, declined the optiou for the flotation of the Sovereign property, there having been some misapprehension as to the boundaries of the Sovereign and Young New Zealand properties.

GOLD PROSPECTING AT MARAETAI. Our Maraetai correspondent writes The gold mining industry of Maraetai is now being pushed rapidly ahead. No fewer than 12 men, under the foremanship of Mr. J. Sutcliffe, storting work this week on the block of land recently leased by Messr». L. 1). Nathan and Co. from Messrs. Keane and McGinty. The result of recent assays of small parcels of stone nrove that Messrs. Nathan have acquired a very valuable property, and there is every reason to believo that the work now started by them is the commencement of a new era of prosperity to ilaraetai.

AUCKLAND STOCK AND SHAREBROKERS' ASSOCIATION. There was a slackened demand yesterday at the calls of the Auckland Stock and Sharebrokora' Association. In investment shares there were sales ofSouth British at 49s 3d, and of Devonport Steam terries at 30* 4d. The Thames mining list was a little more in request. Cardigans closed firm with buyers at Is 4d and sellers Is 6d. May Queen Extended advanced, while there were sales of Moanataiaris at lis 3d and lis, with buyers at the latter and sellers at the former figure. Kapai-Vermonts Baw business at 8s 3d, but eased off. Maori Dreams were hard at Is 3d, Try Flukes were iu demand. In the Upper Thames list Talismans were in call, and there were sales at from 12s 9d to 13s 3d, with, however, a falling off at the clone. There were buyers of Crowns at 345, and no sellers below 365. Alphas were steady after sales at 4s fid. Woodstocks advanced from sales at 25s to transfers at 28s, with buyers at 25s 6d. _ Bunker's Hills changed hands at 7s 3d, with again a weakening tendency. Four-in-Hands and Zealandias were wanted, and there were ex changes at fair rates.

WARDEN'S COURT AT COROM ANDEL. [IV TKLKOKAPH. —OWN CORRESPONDENTS.] COROMANDSL, Tuesday. At the Warden's Court to-day the following applications were granted :-M. Davie?, Foreshore special, 100 acres; Gem of Hauraki licensed holding, McDonnell; New Queenof Beauty special claim, recommended: Rachel special claim; Vanderbilt special claim, O'Brien; Exchequer special claim. Cahili• Gordon special claim; Standard special' claim, Greville; Alameda special claim, Swindley; Observer special claim, W. Lang; New Hauraki licensed holding, Luhrs; Lucy special claim, W. Lang; McIsaac special claim, Mclsaao; _ Waipiki licensed holding; Moa special cltim, Wiseman; Dolphin special claim, Richards; I Charleston special claim, Carey; Ligdfc I Brigade licensed holding, Fitzgeraid; Last I Chance special claim, Hand; Avondale I licensed holding, Moore and Siddle; n^ r ' I bile No. 1, special claim, Argall; # Pacific I special claim, Blasch; Warrior special claim, [Siddle; Gi&borne Extended special claim,

Noble: Mount Morgan special claim; Shotover licensed holding, Noble; Pegasus Extended special olaim, Swindley; Aldershot licensed holding, Fraspr; Una special claim: Fortuna special claim, Clements; Altai licensed holding, Rhodes ; City of Melbourne spebi&l claim. O'Brien; Speedwell Surplus licensed holding, Gentile; Wedge licensed holding, Gentile Waikororaiko special claim, Lillis. KOAOTDNC. The following applications were granted Hansworth licensed holding; Antelope special claim; Deep Leads special claim, Thomson; Otama No. 4 licensed holding; Eastern special claim, Regan; Kuaotunu Extended licensed holding, W. Meikle; machine site and water-race, Mahakirau, MoPherson; water-race, Partridge; waterrace, F. Meikle; water-race, Abbot; waterrace, Home; water-race, Richards ; waterrace, Stone. A number of residence sites and applications to work with fower than the required number of men were also granted.* The Court was still sitting when the telegraph office closed.

GENERAL MINING ITEMS.

The following telegram was received yesterday " Woodstock, No. 3 level, Maria lode five feet wide; average assay value £9 el ' ton." . r, TTA notice' in reference to the Sea View Gold Mining Company, in liqidation, appears elsewhere. An extraordinary general meeting of the Monovrai Amalgamated Gold Mining Company will be held at the New Zealand insurance Buildings, on the 22nd inst., at 2.30 p.m. A notice to mine owners and raining companies, by Mr. Duncan E. Clerk, appears in our advertising columns, stating that he is open, within the next ten days, on behalf of one of the best groups of financiers in the City of London, to purchase really good mining properties. Notice is given by the African Austral Syndicate (Limited) that Mr. Leopold Meilzincr Myers, of Johannesburg, is the duly appointed attornoy of the Syndicate, whose head office is at Barnato Buildings, Johannesburg, and the office, or place of business in New Zealand is at Colonial Bank Buildings, Queen-street. The demand for properties to float in the Home market seems upon the increase. Mr. Duncan E. Clerk received power of attorney by the last mail from the firm which floated the Talisman to acquire properties, and he states that he has already from 18 to 20 in hand.

MINE MANAGERS REPORTS. Hell Rock (Thames, May 11).-Drive on reef in No. 1 level: The reef in the face is three feet in thickness, intersected with ribs of quartz and sandstone. Saw a little gold in the last breaking clown. No. 2 level: The reef is three feet in thickness, and the quartz is of a very brown nature. We see a little gold in pounding. No. 3 level: The reef averages six feet in thickness, and up to now lias prospected better than anything we have had yet. Golden Link (Kuaotunu, May 9). The drive on the new reef at the low level: The reef is three feet wide and still prospccts well. The big reef ou the west boundary has been & little smaller this week, but is now opening out again and is now about five feet wide. The whole of the stone broken gives small prospects. Phcenixl Kuaotunu, May B).—Have taken down four feet of the reef, which has shown a little gold every day, also some fair dish prospects of coarse gold. The reef is fully two feet wide: the greater portion of it is composed of a flinty quartz. Western crosscut : The country is of a first-class description both for gold and speedy progress. Occidental (Thames, May 11).—No change in the nature of the country to report; it continues a good firm class of sandstone interlaced with ininoral veins. The leader during the week has been split up into stringers with bands of sandstone between, but now appears to be making more together in the eastern end of the drive. Victoria (Thames, May 11).—An intermediate level has been started on the lead from the western side of tho winze between Nos. 1 and 2 levels. A little gold has been seen in the quartz. Four stopes are in progress on the lead on the back of No. 1 level. Gold has been seen in all the atopes, but beyond a few pounds of picked atone that have come to hand from the fourth stope nothing of importance has been met with this week.

Kaiser (Thames, May 11).—The country encasing the lode is of the best description, and on breaking down the reef, which is fully two feet six inches in thickness, a fair quantity of favourable minerals, indicative of the near presence of gold, is being continually met with. Moanataiari Extended (Thames, May 11).—No. 9 reef has been disturbed and split up, forming sandstone and ribs of quartz fully six feet in width. In the face of the drive it has the appearance of becoming more defined. '

Tandem (Coromandel).— Old level: At the last breaking down I saw nice colours of gold in the stone. The leader is broken at present, but both branches carry gold._ In No. 2 level the reef improves at every sight.

Crescent (Karangahake, May Orient Section : We have cut a flinty leader, about 9 inches in thickness, which is heavily charged with mineral.

Ivanhok (Karangahake, May 9).—A reef two feet in thickness has been intersected ; the country on the haugingwall side is rather hard. The footwall is full of small leaders.

Imperial (Karangahake, May 9).—United section : The country is still of a hard nature.

Adelaide (Thames, May 11).—Have suuk the main shaft a further depth of 11 feet; total depth below the adit level 17 feet. Puro Consolidated (Thames, May 11). The drive upon the trend of the Rimu reef. The quartz body had a tendency to diminish from its usual size, and although we saw gold, it was not as frequently seen as hitherto. The last few shoots reveals the lode again assuming its usual size. Napier (Coromaudel, May 9). Very little chance to report, reef looks as well as ever, no gold seen in the stone yet. Asteroid (Karangahake, May B).—Since the leaders came there has been an improve-

ment for the better. South British (Karangahake, May 9).— The crosscut: The class of country is very favourable. I may state that six feet have been driven across the Glasgow reef by that company, and no appearance of wall yet. The stone is of a very kindly nature, and the country in the vicinity of this lode is excellent. Karangahake (Karangahake, May 9).— No. 4 level: Quartz is mot with every few feet, Have driven seven feet on leader from which I forwarded sample to Auckland, aud still continues to prospect satisfactorily. N Zealander( W aitekauri, May 9).— 2 reef, No. 2 level: The reef is nine feet wide, and seven feet of it are taken dowu, the quartz looking well, showing excellent mineral, with some fine colours of gold showing in the centre of it. Kapai-Vermokt,—Main level, south of the main rise: Lode averages two feet, the principal portion of which is of very fair quality. First intermediate south reef: Also two feet thick, whole of good quality. Nos. 4, 5, aud 6 stapes: Reef varies from three to five feet, all very fair crushing ore. North end of mine: Lode varying from one to three feet in width, only a portion of which can be termed low grade. Winze: The lodo is four feet thick at the bottom, the whole of which is good in quality. _ New low level: Have pounded several nieces of stone out pf this face aud in all instanoes obtained gold in ; washing off same.

The regular meeting of the Otahuhu Mutual Improvement Association was held on Monday evening. Mr. W. P. Hunter chairman. The business of the meeting was a paper by Mr. G. B. Hutton, president of the Auckland Agricultural Association, on " Fruit Diet, from a Health point of View." "Tho chairman apologised for the absence of Mr. Hutton, who had not yet returned from the Fruit Congress at Wellington. Mr. A. Sturges kindly read Mr. Mutton's paper, which waß an admirable instructive and full of suggestions. After the paper bad been read, a lively and interesting discussion ensued, i:i which Dr. Rowley, Messrs. W. Lippiatfc, IS, Porter, E. Allan, A. Sturjjes, Luke, Macdonald, Douglas, and otners, took part. At the close of the discussion, a vote of thanks to Mr. Hutton was carried unanimously, and the chairman was requested by the meeting to ask Mr, Hutton to allow his interesting and useful paper to be printed. The chairman said he folt sure that the proprietors of the Herai.d and Auckland Weekly News would be pleased, for the B».Ke of the health of the people, to publish such a paper, either in tho regular issue of the Herald, or in the columns of the Saturday supplement. The Alexandra-street Mutual Improvement Society held its weekly mooting on Monday evening. The subject for tho evening was, " Our Favourite Authors and their Works." An enjoyable evening was spent, many of the members taking part. The president, Mr. Burton, occupied the chair. " To gild refined gold, to paint the lily To throw a perfume on the violet , To smooth the ice, or add another hu» Unto the rainbow, or with ftoble words To try and tell the splendour of the Waterbury Watch I Ib wasteful and ridiculous exce^ta. 1