MINING.

Otago Daily Times, Issue 7927, 19 July 1887, Page 3

MINING.

NOTES FROM REEFTON.

(From Our Own Correspondent.) Reeiton, July 18.

Big Hiver Extended.—Tho fact 3as furnished

in last report relative to the reasons for not cleaning-up were obta'ned from one of the directors of the company. As a sequel to this, however, a panic took place to-day in shares, which by 2 p.m. had fallen below any quotable value. On interviewing the same director I was informed that nothing would be known as to the result of the crushing till Saturday next, when the boxes would ba cleaned. There was some dissatisfaction current on this becoming known, and the directors met and decided to clean-up at once, and; one of their number was despatched to Big River at 4 p.m. for the purpose. Here the matter rests for the present. Various rumours are current, but I shall wait the announcement of the return before referring to them. The whole thing is a mystery at present, and the complexion of affairs is anything but satisfactory.

Keep-it-Dark.—The extraordinary meeting of shareholders to authorise the tale of the mine

will be held to-morrow (Tuesday) evening. If one can trust the gossip of the street, there will

be some opposition to the proposed sale, but this is orly hearsay. Just-in-Time.—The battery started on this company's stone this morning.

Reform.—The crushing of 170 tons was concluded on Saturday and the returns came in to-day, the yield being 1240z of retorted gold, equal to 14dwt to the ton. The return is considered satisfactory.

The Big River scare has completsly paralysed the share market and thrown a damper upon everything. It has been the all-absorbing topic during the afternoon.

The Ohristchurch Press says that Messrs Craig and Briggs state that they have received from Ross a telegram stating that the William Tell and Swiss Republic reefs look splendid, and that there is great excitement consequent thereon.