NEW ZEALAND MINES.

New Zealand Herald, Volume XXXVII, Issue 11367, 9 May 1900, Page 6

NEW ZEALAND MINES.

. LATEST LONDON NEWS ' Londos i»'-i ? A special meeting of the BW '• Gold Mining Company was te 4l) ' ago at Winchester House \T, n fc presiding. The Chairman fe>* ing was called for Urn purpose of .*»* ■ tho advisableness or' otherwise of -Sh 1 further call of 3d per fee, in oS "*« 1 on the business of tho company"'> * opinions were heard, and the lottL('» i manager and consulting engineer 1 After some discussion.it was .„J" 9 'tad 1 ft further call of 3d per •htMfe'S I provide about £5000 to continue MffS **H ■' : and a resolution to that olfeet *»; ''' "An Old Shareholder''oSiVl?*' ' pany has written tho following £ 'Vi " ; financial Times:-" As a fharchoU '°'^• ' good many years' standing, in the W?. "I» I s ;;; Mining Company (Limited) I SjM terestcdmtlie loading article in &> ± week, you brought it prominently forT* I 1 readers. It is not surprising tl>,f pl *Mu l| sight vouid-bo buyers aro indisnL' 8 1 vest in a mining sharo at present ls% ' I turning 5 per cent, on the mai-W - r » 1 £10. You have therefore ?s%&s ! I in.cxptynmg that much larg c r&«- ; : 1 might even now be paid, TO * in tk r| future will certainly bo forthcoming ?S 3 I your readers may be interested t 0 u' &S ; ofthe World,' his ' Survey of the {(£s?s* of the World,' after careful tion of tho property, wrote as t« 1 value of|the Waihi. His report &• - ' me, and »s it may not be accessihh' >** ' moment to all, I ask permission £ A«• brief quotation: ' The Waild i, ■■£&& I greatest gold mines of the world ?TT-7* no doubt that shareholders can to lb. "I* upon 1,000,000 tons of payable iSSfe I Una was! written two yean ago «ni - ■"' 1 then exploration work 'has beon'carriJI*'1 *' to an immense extent. 'Rut the ; crushing rapacity of the mine,' Mr W- I goes on t, only 7000 tons per month |» 8 is utterly Ridiculous for a. mine liko th wv' 5 which cannot be considered working i"- 1 ' •' I full capacity until it is turning out V"' " 20,000 ton, per month. I n other O ,T I present 190 stamps should bo at once \Z, * HI by 210 more, making 400 in all' pS I f is this advice your correspondents d'M t view when recommending the erection nfwj- Is less than 500 stamps: and when it is W'- p in mind what vast discoveries of tie* J? If have boon made in the course of the mum l N year, their contention does not seem \Z i ■ tho mark. At the present moment ftjS pany is adding 100 stamps entirely id £i I out of revenue, and tho directors prolaKJ '■ consider this sufficiently trood work for & - current year, and excellent work it „, ' 1 deniably is; but we must not rest canleei ■ ■ ra with anything under 400 or 500 stamps, fi'-■: order to do justice to the magnificent proptrt} " : i' wo possess. It will not bo long, I connta I believe, boforo we shall he in receipt old*. ' double our present dividends, and ultinuM '"■ l in view of latest discoveries, of very |iij£ l ' enhanced ones. Possessing, thotefore, u* i ■ V do, a mine which returns us sufficient ssj lV regularly paid dividends in tho present, x& H in the future, thanks to its vast rearm ■•'T'■ promises to bo doing very profitable work fj 111 into tho row century, we should be &;']|f| indeed to part with our holdings at anrftiaj - I like present prices, while at the. same limtn I believe tint fresh buyers will not fail to tew :.Ka rich reward; only let them understand,u :|f we do, that tho Waihi is rather a gold 6$ I' than a gold mine." I

Among tho list of new companies remittal recently. I notice that of tho AmalpmiW (*4old Mines (Limited). It lias a capital)} £200.000 in 10s shares, and was registered V Mr. W. H. Drown, of 34-36, Graham-sired, London. >'•■:/.•

For three hours on Monday, March 26, tli shareholders in the New Zealand Talisma Company discussed a proposal to retrioTi Lord Ernest Hamilton (chairman), Sir Robed Dasbwood .and Mr. ifaures Horner (directw! from the Board, in consequence of delay it carrying out the amalgamation with tlieTifc man Extended (which had been carried on i poll) for the purpose of considering a sue,cested amalgamation with the Woodstock. The chairman alleged the existence of "rot. spiracy." The motion was made hvMr. W. F. Turner, of tho Anglo-Continental. Gold Mining Company, who, however, first proposed an adjournment for two months. For tho motion, 30.036 votes were cast,' and 28,05 against it; this not being a requisite threefourths majority, the motion was lost, P. On March 30 another Talisman meeting was held, lasting over two hours. Th.s was to consider a, resolution that Mr. Ford bo authorial. to sitrn the agreement for amalgamation with the Talisman Consolidated. On being put to the vote. 15 voted for and 12 against the motion. A poll was thereupon demanded, and this was fixed for four o'clock on Mot' day next. Tn reply to a question as to (It terms offered by tho Woodstock Compwr, the Chairman. (Lord Ernest Hamilton) sail that tho Talisman would divide all accurallatod profits as dividend: then the Woodstock would take over the whole of the undertaking, giving the Talisman 150,000 fully-paid slum in a company of 300,000. This Colonel Nilbet (the chairman of the London and Xe«' Zealand Exploration Company) termed '!«■ posterous." ■ .;!:;

QUOTATIONS.

Throughout Hie week there has ken littla stirring in tlio Now Zealand section of lie mining market. At the closo yesterday Waitekauri shares were up a fraction, at a 'quotation of 2, but all other movements mere in tho downward direction, among those 'raid lost a turn, being Waihi, Kauri Freehold, and Hauraki share?. Latest quotations stand thus: Consolidated Goldfields of New Zealand, li to li; Hauraki, Is 6d to 2s;,Kapnnga, 9d to la 3d; Kauri Freehold, U to & 6d: Komata Reefs, Is IJd to Is 4jd; London and New Zealand.Exploration, 7-16 to 916; New Zealand Joint Stock and Genera! Corporation, 7-16 to 9-16; do. founders', 'l\ to 3i; Progress Mine of New Zealand, lj to 11: Royal Oak, 4Jd to 7Jd: Union Wafti. 1 7-16 to 1 9-16; Waihi. SJ to 9?: Vfißu Grand Junction, 1| to If; Waitekauri, 1 15-16 to 2 1-16; Waitekauri Extended, 3jM to 4s; Woodstock, 3s 6d to 4s 6d. •