WAKATIPU MINING NOTES. (From Our Own Correspondent.)

Otago Witness, Issue 1854, 3 June 1887, Page 12

WAKATIPU MINING NOTES. (From Our Own Correspondent.)

Arrow, May 31. Winter is asserting itself, and washing-up is the order of the day.

The Tipperary Company, at Macetown, have reduced hands to their winter complement, and sinking to a deeper level will be proceeded with so as to make more stone available for next summer's work.

• The .Premier is still keeping on good stone, and things in the mine look well.

Much speculation has been indulged in here anent the recent surveys in 1 the neighbourhood of the Premier, which I mentioned in a former note. Parties apparently in the "sunrise" are buying up all loose shares floating about the market, and as some of the workmen in the mine are also eager buyers, it is presumed that whatever change is in the wind it is founded probably upon improving and permanent prospects of a long run of payable stone. I hope shortly to be able to let in some light upon present movements, which, in view of the advertised meeting of shareholders in this company (to be held on the 18th of next month), ought to be welcomed by all interested. It is anticipated that the next cake, which may be expected in a few days, will clear off all the liabilities of the company aDd leave the shareholders free to move in any direction they may prefer. For this satisfactory state of affairs the shareholders are chiefly indebted to Mr William J. Farrell, who, besides regularly visiting the mine during his professional _ hours, has often pledged his personal credit in order to keep the mine going, without which it would have been stopped and shut up long ago. Something similar was also done by Mr James Hazlett for the Tipperary, and it is a noteworthy fact that the Premier and Tipperary mines are the. only ones which have survived Dunedin management. General mining news is likely to be scarce for the next few months.