THE MOANATAIRI CLAIM.

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

THE MOANATAIRI CLAIM.

A correspondent writing from Auckland Under date 29th March, furnishes us with a few items respecting this claim, which will be read with some interest by scrip and mining speculators. The history of this company is another instance of the uncertainty of mining ventures, and at the same time shows the chance which occasionally awaits the player at the quartz reefing game of a "trump card " of the utmost value suddenly being found in hand. Our correspondent writes that "The company was floated with 13,500 shares about 8 years ago, during the first excitement about Hunt's claim and the Long Drive, and the shares were not long in the market before they were run, up in value to £14 per share, but as the practical work of mining was then all before them the price receded with the times until the shares became unsaleable at from 10s to 13a per share. They had a flatter during the Caledonian excitement, and managed at that time to pay dividends of 5s to 10s, amounting in all to about £20,000, when the crushing stuff again became poor, and for the past four years the shares have not been known above 15a to £1 each. About four weekß ago they stood at these prices, when the present rich run of gold was discovered, which has enabled the directors to pay cne dividend of 303, or over £20,000 sterling, and they have already in hand for last week's work about 8000 ounces of gold. Price of shares ex div. are steady at £18 10a, which represents a value, with last dividend, of £270,000, nearly all of which has come into existence in little over three weeks. At present the rich run is lasting of equal quality, but there is no excitement in the share market, the dealing being in the hands of a few who have paid dearly for their experience in former times. Of course there are many lucky ones. Two merchants hold about 1300 shares each, and are supposed already to have made £25,000 each out of it. A family who lost their father last year, had at the division of property about 1400 shares, which were valued at £7000, and were divided amongst the children. The fortunate young people can now Bell out for about £28,000 between them. An architect has made £10,000, or over, and of course th»re are many instances of good fortune in a smaller way. A humble farmer came to town on a visit three weeks ago ; he bought £200 worth of shares, and resold them for £1,200; taking the cool thou 1 with him, as a little present to the old woman, who probably had cautioned him before starting to be careful with the saxpences. Mr Wilson sen., the late proprietor of the Herald, who died last year, left 600 shares ; most of these have been sold at high prices, realizing over £10,000 at present values," — West Coast Times. ,