REEFTON MINING.

New Zealand Mail, Issue 938, 21 February 1890, Page 20

REEFTON MINING.

(FROM OUR OWN CORRESFONDENT.) Reefton, February 15.

Battery returns :—Globe, 1520 z of amalgam from 185 tons; Inglewood, 103 oz of amalgam from 85 tons ; No. 2 South Dark, 750 z from 30 tons ; Progress, 171 oz from 100 heads of stampers, plates only ; Welcome, 2610 z from 29 tons with 5 heads of stampers, working since Wednesday. The batteries are not working to their full extent on account of the scarcity of water. The following are the ruling prices of shares on the market:—Argosy, Sd to lOd ; Big River, 2s 6d to 2s 9d ; Golden Lead, Is 6d to Is 7d ; Globe, 19s 8d to 20s ; Hard-'to. find, 8d to 9d ; Inkerman, 169 6d to 17s; Inangahua Low Level, 5d to 6d ; Justin Time, Is to Is 3d ; Hercules, Is 8d to Is lOd ; No. 2 South Keep it Dark, 2s to 2s 3d ; 0.K., Is 3d to Is 4d ; Progress, 26s to 27s ; Reward, lOd to Is ; Supreme, 2s 2d to 2s 3d; Scotia, 2s lid to 3s Id ; United Alpine, 27s 9d to 28s 3d ; Wealth of Nations, 3s 6d to 4s. With a few sales in some of the mines that are crushing, business in the town at present is in a good way, and house rent has gone up to 20s a week for a four-roomed cottage in some places, and there is at present not a house to be had. People are arriving every day, principally from Auckland. Reefton, February 18.

The prospects of some of the mines at present are good. The Inkerman have sunk to 182 ft, and taken about 48 tons of stone out of the winze, which is believed to be highly payable, and in a week or sp they start crushing. The United Alpine are only waiting for rain to Btart on their crushing, which is expected to be a very good one on the prospect that is shown on the stone. They have about SO tons in the paddock. The Sir Francis Drake has driven north, and the reef has opened out to 9ft, and shows good gold. The Golden Head have opened up connection with the Drake battery, and are sending down about five tons of stuff per day, and the trial crushing of their parcel of 100 tons is expected to start in about 16 days. It is believed that it will not be difficult to treat as there is no foreign matter in the ore. The share market is very dull at present, and the Progress and the United Alpine are the only ones that are showing any activity, but it is only a move on the part of big holders not to sell in the Progress. In the Alpine the prospects are good. There were a few sales in some of(the other mines, but the prices cannot be got of any bona fide sales as there have been no meetings lately.