Notes from Wakatipn. Notes From Wakatipu.

Otago Witness, Issue 1966, 29 October 1891, Page 15

Notes from Wakatipn. Notes From Wakatipu.

Abrott, October 24.— 1t is rather surprising that none of the miners' champions have taken up their cudgels on behalf of the Hon. Mr Seddon's wellmeant attempt to raise the price of gold in New Zealand. It teems that with that objeot in view he sent a number of samples of gold to Australia, with the result that they fetched X very much advanced price compared with hat paid by New Zealand baaks. He then laboured. It must be admitted not very successfully, to make out a case by trying to show the profltableneis of suoh a transaction, quite overlooking the fact that if our gold was worth a certain price in another colony, it ought to be worth the same price lp TSew Zealand There oan be no doubt, but that Hew Zealand banks have made a good thing out of the gold-baying branch of their business and that In their ehorttighted gteed they are killing the goose that lays the golden egg. It may be argued that the high price ruling in, Sydney is owing to the existence of a mint in thac city, and If that be " the cause there can be n > reason why New Zealand also should not have suoh au institution. This colony produces more gold annually than does New South Wales, and in proportion to its population circulates for more oath than does the mother colony. Indeed, it may well be questioned whether the circulation of cash Is not equal in eaoh cue independent of the difference in population. However all thii may ba, it must be as oiear at the day that increasing the price of gold is equal to glv)ng a bonus for prospecting, that the increase wil give a new incentive to mining that must produce the most beneflolal results, more than repaying the cost of the establishment of a mint, and the co«t of working it at a lots du>iag tba first stages of its existence. The Gallant Tipperary Company's mine and plant wa» visited and inspected by Mr H. B. Smith, of Arrowtown, the legal manager of th* company, last Tuesday and Wednesday, and he speaks very favourably of the prospects ol the mirier. Tbe-otone looks well, and is improving at exploitation progresses. Good headway has been made in opening tho mine during the close portion of the winter season, and the improvements effected in the crushing plant will enable the manager to put through more stone and save more gold per tod than formerly, and altogether the shareholders are to bs congratulated upon the healthy state of their property. There is still a certain quantity of poor stone that will have to ba removed, but at the end of a fortnight all tbis will be disposed of when all the facet will be upon fairly average quartz. Indeed in two of the faces a very promising improvement is already noticeable in the •tone. There are 15 men employed in and about the mine, and 60 tom of quartz are at grass. The Sew Hoy Oo.'s dredges are still doing well, as Is proved by the weekly returns, and there being no calls, shareholders are apparently content or some one of them would air hit virtuous (?) Indignation in the Daily Times, as is the fashion with so many correspondents, who are ever ready to blame anybody or anything else but their own weaknesses in yielding to the blandishments of prospectuses. The Enterprise (late Frankton Beaob) dredge will be at full work next week. Shareholders would do well to moderate their expectations, as success depends muoh more upon the effiolenb working of the machinery and the gold-iaving plant than upon the riobnest of the ground, if, indeed, this term is not a misnomer in the present ease. The Talisman dredge (Tucker Beach, Shotover) it to be taken to pieces, shifted, and refitted for work at Walkaia. The Wakatipu Dredging Go. contemplate! liquidation ; and the Shotover Co 's dredge is offered for sale. All these symptoms of miscarriage and decay were so palpably plain to local residents generally from the very starting of those companies that the result surprises no one except the unfortunate victims of the delusion. Never did promoters, experts, et hoc genus omne, find more gullible dupes than has been the case with dredging the Kaiwarau river. At the Grown Terrace rush things are pretty muoh In statu quo. It U repoi ted that Jiomaru and party nave bottomed at l2ott, which would be about 30ft too shallow, and which accounts for no wash being met with upon the reef, though the gold was p e•ent in small quantities'.