Notes from Reefton.

Otago Witness, Issue 2057, 27 July 1893, Page 13

Notes from Reefton.

(From Our Own Correspondent.) Reefton, July 22. Stock Exchange report :•— " The battery returns for the past week amount to U42oz amalgam from the Alpine, Globe, Progress, and Royal mines. The Cumberland and Drake batteries are also crushing, but the returns are not yet to hand. The Big River battery will start on Tuesday, and the cleaning up will take place in a fortnight, when a dividend is expected. The Al tributers intend to have a crushing shortly, but the return is not expected to equal previous results from the same claim. The Globe return' is again poor. The mine is, however, looking well, being carried down on excellent stone, and shareholders may look forward with confidence to an early .improvement in the weekly yields. The crushing by the Royal tributers gave 24dwt to thelton, which will pay both the workmen and the company well. There* ,has not been much business doing in scrip during the week. There, was a mild spurt in Lord Edwards consequent ' upon a reef having been struck, but in the absence of any definite news as to the quality of the stone the inquiry soon died away, and the shares receded to about their former price. Big Rivers have been in demand*, but very few are procurable at present quotations, and they are likely to go higher. The Amazon Company has now been registered, and two men are at present sinking oovan v a good reef carrying payable gold. The directors are all men -who have had long experience on the field, and shareholders may rely upon their interests being well looked after. It is reported that encouraging indications are being met with in the Specimen Hill, and it is hoped that the reef is now not far off. During the last few monthß several of our smaller companies have gone into liquidation, and in the majority of cases the losses will fall almost entirely upon local speculators. This will for some time prevent much local capital being available for prospecting purposes, but it will .eventually have the effect of establishing business upon a sounder basis and reduce to a minimum the chance of any claim being floated which has not a reasonable prospect of repaying those who invest in it." July 23. Battery returns :— Alpine, 2890z amalgam from 230 tons ; Cumberland, 940z from 90 tons ; Globe, 109oz from 185 tons; Progress, 2700z from 210 tons ; Royal (tributers), 1650z Bdwt retorted gold. WEEKLY RETURNS. The secretary of the Dunedin Gold Dredging Company (Limited) received the following tele-

gram from the dredgemaster on Saturday:— Dredging six days for 29J0z." Mr Jabez Burton telegraphs :— "The Golden Run washed up for the fortnight ending Friday 21oz gold. The dredge was shifted into the middle of the river. She found it deep and prospects good." ' The Dunßtan Dredging Co.'s dredge, Clyde, has struck very rich wash during the last two or three days, the gold being coarse and nuggety. The yield for eight days' work is 19oz.— Danstan Times. The secretary of the Amalgamated Waipori Deep Lead Gold Mining Company (Limited) has received the following telegram from the mine manager:— "Washed up on Saturday for 570z lldwt gold." _ . The secretary of the Jutland Flat (Waipori) Gold Mining Company (Limited) reports for the week ending 22nd July : — " 17oz gold for 144 hours' wages time ; 142 hours' actual dredging." Mr Jabez Burton telegraphs :-"The Roxburgh dredge washed up 230z and the Ettnck Boz gold for week ending Saturday." , Mr Callender reports having received the following returns:-" Sew Hoy Big Beach Gold Mining Company (Limited), 87oz 9dwt retorted gold; Matakitaki Gold Dredging Company (Limited), 9oz sdwt for three days ended 19th Mr Peter Barr, secretary United Hercules Hydraulic Sluicing Company (Limited), has received the following telegram from the manager :— "Ten days' sluicing, 89oz lldwt— value, j£3l4 15s 3d. Started to elevate." The Upper Waipori Alluvial Gold Dredging Company (Limited) obtained from No. 1 dredge 41oz Odwt 6gr of gold for 5 days 14 hours' dredging last week.

MISCELLANEOUS.

The Macetown correspondent of the Wakatipu Mail writes :— " I am happy to state that a great impetus has been given to mining, caused no doubt by the late discovery of a new and good payable reef in the mine of the Premier Company, who are now raising a large quantity of stone in readiness for the breaking-up of the winter, when it is confidently expected they will be able to keep 20 head of stampers going. The Glenroek Company (England) have sent their general mining manager, Mr W. Stanford, to open out their lately-acquired property, the old Tipperary claim. This gentleman Is proceeding in an energetic manner to place that celebrated mineiii perfect working order. Twenty men are being employed, and material is baing conveyed to the ground by tons. It is said they intend 'to form a Bteel rail, tramway from the mine to the battery (which in consequence of want of water is situated about a mile from the workings, and therefore it previously necessitated carting that distance, thus causing a great outlay. The formation of a tramway will, of course, considerably lessen the expenditure. I hear aho that it is the intention of this company to resume work at the Sunrise claim (which property, together with the battery attached, they purchased some months since) as soon as the weather permits. If this or some other equally staunch company were to open up the Homeward Bound line of reef, all things would be ' lovely,' and give employment to some scores of men. It shows what a powerful and wealthy syndicate can do to develop the resources of the country, instead of the old style of working — merely scratching on the surface for the benefit of speculators, sharebrokers, legal managers, &c, and to the great loss and utter disgust of confiding shareholders. I have no doubt that, under such a systematic and thorough method of working as is being inaugurated by the manager, the company will be benefited, besides giving employment to a great many deserving men. 'It is a consummation devoutly to be wished.' "