THE THAMES.

Otago Witness, Issue 1325, 21 April 1877, Page 4

THE THAMES.

Not only have mining matters improved very much in the Moanataiari and Alburnia mines, but there is a decided and marked change fov the better in the Red , Queen locality and the Waio-Karaka. The latter district has been for a considerable tiiue previous to the Moanataiari find the largest gold producer, and although at no time rich, yet the large reofs and steady yields from the City of London, Queen of the May, Bright (Smile, and Queen of Beauty mines gave, until the collapse of the Bright Smile Company, handsome dividends to their respective shareholders, besides employing a very large percentage of the mining labourers of the field. Everyone is acquainted with the difficulties encountered in again starting the Smile pumps and starting the Piako Company to work the Bright smile and Bird-in-Hand ground. We are glad to learn that the prospects of this part of the field are again brightening. There is a very marked improvement in the Queen of the May and Queen of Beauty, and a fair show in the City, while the Paiko Company, which has been lately worked so pluclrily, has developed a splendid reef on the No 7 level, fully 13 feet thick, the prospects of which are ecxeedingly encouraging. Energetic efforts are being made to open out the low level, and start the big battery, not only on the stuff from nos. 1 and 2 reefs, but also from the Bird-in-Hand lodes to which a drive will shortly connect with the Paiko shaft. The Bird run of gold was a good payable one. We understand that several of the Paiko tributers are likely also to do well. The decision of the Young New Zealand and Welcome directors to accept the Waitekauri Company's terms to connect with a tramway has had the effect of stiffening their ro-

spective stocks in the share market, and gives a warrant that this part of Ohiuemuri is likely shortly to receive a thorough trial. The Young New Zealand lode has become more defined, and improves in appearance as driven on. The shares in the Moanataiari advanced most rapidly in value yesterday. In the morning the market opened with sale 3at £9, and at the close last evening there were buyers at £16, but no sellers. This price makes the value of the mine and plant £216,000, or an increase in valve of more than £200,000 within three weeks. — Thames Advertiser.