NOTES FROM REEFTON,

Otago Witness, Issue 1816, 10 September 1886, Page 17

NOTES FROM REEFTON,

f (From Oub Own Oobkespondent.) ( _ Reefton, September 8. Fiery Cross. — A dividend of Is 6d has been ; declared payable to-morrow. Globe. — A call of 3d per share in this com- , pany is announced. The Minister of Mines has consented to waive i the claim for arrears of lease rent in the matter ■ of the Morning Star Company (in liquidation). ! This concession will greatly facilitate the efforts i now being made to close the estate without fur- • ther recourse to law. ) Just-in-Time. — There are some inquiries this evening for shares in this company, but no t reason is known here for the sudden de- , maud. The tributers' parcel of 25 tons i has been put through the battery, but the^ ; returns are not yet to hand. The Walhalla* tributers will now have the use of the stampers. Lone Star. — Subscriptions for shares in this company are going off rapidly, and the whole of > the shares apportioned for allotment in Reefton ; will, one of the company's brokers informs me, { be disposed of before the present week is out. Hopeful Extended. — This company have re« > cently made overtures to the Fiery Cross Com- , pany with a view to bringing about the amalga* , mation of the two properties. A reply from the Fiery Cross Company is now daily expected by , the Hopeful Company. South Hopeful. — Still following the track o£ a little gold-bearing stone and in good country. The share market is again a little brisk this .evening, business being done in a number of ' lines. It has now been raining incessantly for nine hours, and there is every prospect of a considerable flood. (Per. United Peess Association.) Hokitika, September 8. At a meeting of the Ross No. 2 Company last night over 13,000 shares were represented. The report and balance sheet were adopted. Messrs Michael Rae, M. Jack, Sammons, and D. Healey were elected directors. It was resolved to push on the works with all despatch. Great confidence was expressed at the satisfactory prospects of the mine. It has been raining heavily. Sluicing companies are well supplied with water. Irrigation in SontU Canterbury. (From Our Own Correspondent.) Timaku, September 8. The Geraldine County Council met to-day. After a discussion on irrigation, the chairman said he thought it would be wise to take up the provision of the Government loans to local bodies, as under that act money could be borrowed from the Government at a much lower rate of interest than from other source*. The act also applied to their irrigation proposals. With reference to taking land for irrigation purposes lie said he would like a committee of the council to go into the matter thoroughly. • Mr A. Perry, solicitor for the Australian and New Zealand Mortgage and Investment Association, attended to object to the council taking a portion of the association's property for irrigation works. He brought with him Mr H. T. Faulkner, civil engineer and surveyor, who was examined at some length, and stated the objections the association had to the council taking its land for the construction of a water race Mr Moody moved and Mr Barker seconded—" That m the opinion of the council it is expedient that the proposed irrigation works through the land of the New Zealand Mortgage and Investment Association (Limited) should be executed, and that no private injury will be done thereby for which due compensation is not provided by the ' Public Works Act 1852,' and Ihat the land of: the association proposed to be taken shall be taken in the manner provided by the ' Public Works Act. 1782.'" In accordance with the chairman's suggestion, Mr Moody moved, Mr Barker seconded, and it was carried — " That a comnjj^ee, consisting of the chairman and Messrs Moodyfrncl Postlethwaite, be appointed to at-

tend to all the preliminary steps in regard to obtaining funds from the Government for the purpose of carrying out the Seadown and Kangitata irrigation schemes with as little delay as possible.