MISCELLANEOUS.

Otago Witness, Issue 1950, 4 April 1889, Page 13

MISCELLANEOUS.

I Captain Pearse, who was entrusted with the i floating of the O.P.Q. mines on the London market, is expected to arrive in Duiiedin towards the end of nest month. The Captain's mission I has been a very successful one ; for it is under i stood that he has succeeded in floating the Austral Gold Dredging Co. at £50,000, as well as 1 the O.P.Q. mines.-— Tuapeka Times. The great desideratum of New Zealand (says an exchange) is foreign capital, and yet everything is being done to drive English investors from these shores. Take the three most recent instances : The Quayle Gold Mining Company was floated only a short time ago ; the great wealth of the mine, as represented in the prospectus, was discovered to be a huge myth, and now the company is in liquidation. Then there was the New Zealand Antimony Company, another notable instance of reckless dealing, to speak mildly. This company ha 3 sued the original owners for loss and damage (sustained owing to false representations made in disposing of the property. It was stated by the owners, in the prospeotus issued, that there were 1500 tons of good ore at grass awaiting treatment. It turned out, however, that there was only an accumulation of dirt and matrix, though the confiding company in London had actually chartered a ship specially to bring home the ore so as to expedite the anticipated profit. So sanguine, indeed, was the, company that it entered into a contract to supply an English firm with 2000 tons of ore from the mine for five years under heavy penalties for short delivery. The company, of course, could not carry oat its contract and had to ' pay £2500 in the shape of penalties for non-delivery. In discussing the matter at a meeting of the shareholders Sir Walter Buller made some very damaging remarks in reference to the dishonest means by which some New Zealand mines have of late been foisted on the English people. An action claiming £8000 damages has now been entered by the Antimony Company against the original owners ; and the latter, on the other hand, have entered a cross action for £5000 purchasemoney kept back by the new company. Need another instance be cited in proof of contention that English capital is being driven from this colony? For if so, we might cay, the objectionable list is not at all exhausted. The North Johnson's mine at Sandhurst yielded for one week's work lately 15350z of gold from 412 tons of stone, and a dividend of 3a per share was declared. Since the discovery of the reef upon which they are now working the company havejpaid a total of £65,650 in dividends, besides improving the machinery and plant. The new explosive " safety dynamite," which has been invented by Baron yon Dahmen, has been proved by competent authorities to posses all the good qualities of ordinary dynamite with ont any of its defects. The majority of accidents with dynamite have; been caused by; the freezing, but this compound will not freeze, and it is not necessary to thaw it under conditions which entail great danger. Comparative experiments have established that, while No. 1 dynamite has frozen so hard that it was impossible to make a hole in it, or to explode it by means of a cap attacnedto the side of the dynamite, the " safety dynamite," after similar exposure, remained soft and plastic, and was as easily exploded as under ordinary temperature without loss of power. The maaner of prepaiation of "safety dynamite"' is comparatively simple and safe; the cost of production 1 also compares, favourably with the present "wellknown process. Onr Arrowtown correspondent telegraphs : — "The Gallant Tip cake weighs 2720z sdwt, from 501 tons of stone.' This is a very^good average considering the low .expense at which the stone was raised." - . ' Our Portobello correspondent writes : — •? The Harbour Cone Gold Mining Company 1 has started operations again. AMr John Reiß has taken out a patent for: a gold-saving machine, and intends to try experiments at the battery.

He has sunk the tables 3ffc iowef iti front 6f the stamper, so as to give room to his m&ffiiqe, I cannot give fuirpartioulars at present, but will in a'fdture letter, as Mr Reid will give further information wnefa he .has everything in fall working order." . ./,.**. The Dunsfcan Times undefstaflds the pro* motors, who have taken in hand the floating of the Tinkers mining properties into one consolidated company, are quietly but earnestly working to that end. Mr Beal, mining engineer, has been on the spot obtaining all information, and Professor-Black is expected to pay the locality a visit immediately on his return from the Tasmanian tin mines. The Greenstone Blueing Company, formed at the beginning of the year, had for the first washing 760 a, valued at £290. T"he Hokitika shareholders are greatly pleased at such a satisfactory result," and anticipate >cry large yields when they get in proper working Order. As soon as a large dam is completed the company have 60 Government heads of water for sluicing. A meeting of delegates from the several mining district* throughout Otago is to be held at Clyde on the 17th inst., for the purpose of formulating proposals with reference to the gold duty.