Untitled

Otago Witness, Issue 1952, 23 July 1891, Page 15

TO THE EDITOR.

EM

Sir,— The utter disregard to all feelings of justice on the part of the directors of this company calls for the severest condemnation. The entire management of the company's affaire appears to have been left solely to the chairman of directors, who, through circulating highly coloured reports of this •• El Dorado," induced many to become shareholders. But this we will excuse; possibly he was just over sanguine. But surely it is now the duty of himself and co-directors to endeavour to extricate the company from its critical condition. Sharps are unsaleable. Contributors have already paid I 7s for them, and are liable for a further 3s per share. The only signs of life is the striking of calls with the greatest regularity— presumably to pay away in wages. But how are th« hands employed? The directors seem to have no knowledge of what is going on, and the secretary appears to be in the same position. Just reverse the positions — say these gentlemen were in the position that the shareholders of the Eureka Company are in— would they quietly submit to the concealment of the affairs of the company ? I think uo>). Well, if they find the position of director too irksome, why not adopt the honourable course of resigning, and give others a chance of averting another " wind up."— l am, &c, Dunedin, July 18. Anti-Dakkness. TO THE EDITOR. Sib, — I was pleased to see she outspoken, straight hitting letter in your puper of to*day over the signature of " Anti-Darkness." It is quite time something was done to dispel the clouds and very ugly rumours in circulation about this company and its management. I have called three or four times lately and interviewed the secretary with tbe hope of getting some information, but he either cannot or will not afford any. If he cannot then themscager, who will not apparently report, should go ; i£ he will not, then his valuable services should be dispensed with. I wish other unfortunate shareholders would insist on one of these alternatives. Sufely the directors tor their own reputation's sake, if for nothing else, should make something or somebody move on. — I am, &c, July 20. A Shareholder. TO THE EDITOE. Sir, — It seems to be the general wish of the contributing shareholders in the above company that a general meeting should be held. Surely the directors and secretary can have no objection. I sra quite sure a visit by some disinterested expert whose report could be relied on o would allay the acrid feeling that now exists as to the management of this mine, and ttia sooner this step is taken 6lie better for all concerned. Due allowance must be made for want of water, hard frosts, &c. But what the shareholders want to know is, What has become of the 600 tons of quartz stated fco be at grass, how wide the reef now is, and does the stone pay to raise ? Before another call is struck these; questions should be answered. — I am, &c, July 21. A Contributing Shareholder. P.S. — A committee of local shareholders, who have paid their calls, might be appointed to inspect and report on the mine by order of the directors. THE MOANATAIAKI TUNtfEL. Thames, July 21. A proposal to extend wbafc is known as the Moanataiarl tunnel is being advocated by those here who are desirous of helping on the ■ systematic development of the mining industry. It is proposed to ask the Government for £20,000, the expenditure of which would be extended over I some years, and the interest, ou winch bhould be I partly paid by those who worked the ground opened up by the extension, which would add largely to the available quartz-bearing area of the field. The Miners' Union, a body representing about 800 working miners, is taking fche matter in hand, with a view of preising It upon the consideration, of the Government. BOXBUBGH AMALGAMATED MIHISfCJ- ATSD SLUICING COMPANY. j The manager of the above company reports for the ] week ending 11th inst. :— " Both elevators have baen running steadily duriDg the week, less a few hours .Stoppage occasionally for removing stones, cleaning bottom, and extending nczzle pipes. I raay state that I have had the by-wash at the dam planked up co that it will now hold 3ft more walor than before, the dam being sufficiently low to admit oi it being done. I have also had to cart up what spare timber I have onto the race as there has been several small slips from under the flumlng when the thaw cefc in. I should certainly recommend a load of timber to be placed along the race in different and suitable points. as undoubtedly it will be required eoou'er or later. I intend washing down both lines of boxes next week, weather permitting. I may say thal> the weather ia very severe here ar, present. When a gsueral tiinw nets in we should have a good 3upply of water for some time as there is a gre&t quantity of snow lying •in the vicinity of the dam." MISCELLANEuUS. Operations at the Commissioners Flab Company's claim are ( says the Tuapeka 3 imes) being vigorously Sushed forward under the capable management of lv John Watson. There was a bad break in the race, on which all hands have bpen engaged since Mr Watson took charge, until within the last few days. The elevator has bean suok about 10ft below the sluicing level reached by the late manager, so that they are now sluicing almost on a level with the river. The stones are not quite 60 plentiful down below as they are at the surface, which means a saving of both time and labour. A sbutb w&s made with the elevator on Monday, and everything appears to be working smoothly. A few leaks ■howed themselves about too riveting, but they will ■ soon stop, and are not likely to give any trouble. One manifest drawback in connection with the claim is the scarcity of plant* v/bleh would ba found very inconvenient in case ot anything going wrong or getting out of gear. The manager has been opening out during trie last few days, an<l expects to commence sinking abouh the middle of the ureneut week. There is just vow mars r/ator iv the race then can be used, though the jeL is running 16 hours a day. Mr Callender, secretary of the Se*.v Hoy Big Beach Gold Mining Company, received a telegram that 590z 4dwfc lOgr retorted gold was obtained for last week. A correspondent of fche Dunataa Times writes : — " The Melbourne companies tbat have taken up the special claims on the Molyneux, below Alexandra, fco be worked on the pneumatic principle, sire evidently determined to loie no time. A quantity of timber and material for the construction of the pontoons has already arrived at Alexandra, and tho machinery for the same has been ordered in Dunedin. There is no doubt of the richness of many of the beaches in these gorges, which can only be worked by some such method an that proposed, and with good management the investors should be well repaid for their outlay. lam also informed that the New Zealand Dredging Company, which put on the unfortunate Welman dredge, has merged into the Glen Bock Company, and that fche machinery tor a eteacn buckefcdredge, to work their special claim on the Molyneux, is now on its way out from Knglsnd, and is expected to arrive In August next." The manager of the Roxburgh Amalgamated Mining and Sluicing Company wires Mr Leary, the* secretary, that he washed up No. l line of boxes on Wednesday, obtaining Bloz I4dwt ot gold, the result of 128 hours' work. He proposes to wash up No. 2 early next week. The secretary to the Wskatipu Dredging Company reports having received a telegram from the company's dredgemaiter to the following effect : - "Twenty-one and a-half ouuees amalgam for the week ; 125 hours' dredging." We (Cromwell Argus) learn that the Cromwell Company have dropped on a block of good atone In the old workings. The reef at the new level, we hear, does not carry payable gold so far as it has yet been followed.— The Hancy Lee party at Quartz Beef '

Point last week managed to get a few shovelsfal of washdirt from the bottom, snowing rich prospects. This claim has 11 men working and an engine driving a large Californian pump to keep the water down. When worked in the old days the crevice yielded a pound weight of gold to the rnnning foot. The secretary of the Dunedin Gold Dredging Company received the following telegram from the dredgemaater on Saturday :— " Dredging six dayi for 1290z gold." _ The Upper Waipori Alluvial Gold Dredging Company obtained 7oz ICdwt of gold for three days four houra' dredging last week. Mr Callender, secretary of the Sew Hoy Big Beach Gold Mining Company (Limited) has received a telegram that 58oz lOdwfc 7gr gold had been retorted for last week.