Notes from Auckland. Auckland, March 31.

Otago Witness, Issue 2197, 9 April 1896, Page 17

Notes from Auckland. Auckland, March 31.

A notice was posted on the Exchange to-day by Hr W.H Churton as follows:—"C able received from London stating that Puriri Gold Mining Company's property sold. Terms not yet transpired beyond the fact that the introduction of j£2o 000 working capital vs provided for." The following cable was received to day by Mr A. D. "Douglas from his agent with ' regard to the ©ceania-Huanui propsrty at Waitebauri :— " I can Bell. Price, £40,00^; £1 paid up; shares, »£2500 ; cash deposit to be p»id, £<JuJ ; capital of the company, £136,000 ; working capital, £25,000 Transfer ot property within three months. Local board of. four. Telegraph, reply . immediately. Must makt it binding on colonial shareholders." A mretiDsr of the directors of both, companies was held this morning, When it was resolved to accapt the terms offered. • A cablegram wag received from Mr Neville asking for a short extension of time for floating the fiazelbank mine. Ihe request has been granted. At tbe Monowai mine the crushing by the new process of Mr French has been cleaned, after an experimental crushing. He inteuried, he states, to put through 100 tons with 10 (.tampers. Owing to the dry weather five only c uld be used, and then intermittently. Up to March 28 46 tons' were crushed, of the assay value of £3 10s per ton. Mr French has brought with him to Auckland a wedge of fine gold, valued at £4 per ounce, of the total value of £93, and the silver actually recovered from solution was worth £10 moie, while the total amount saved -including that given and the gold and silver leftin the solution —brings the total saving np to within a few pence under £3 per ton. Ihe quantity of ore treated was lower than would otherwise have been the case owing to an experiment having been made to see at how low a cost the ore could be broken and brought out. This was done at 10s per ton, but a proportion of mullock which would not be ustd was put through, and brought down the average. Mr French states that a large daily output of the value of £4 10- per ton can be relied upon directly the rain comes. Mr French will proceed to demonstrate that the metals can be extracted at a price which, for breaking out and treating, should not exceed 26a per ton. The property is beinß negotiated for by a financial ayndu cate io Glasgow, and their Australasian agent has arrived in Auckland at the invitation of Mr French, and has proceeded to inspect the property and investigate the results. April 1. The May Queen crushed 405 loads of quartz and «501b picked stone for a yiold of 3020z retorted gold. The option, which expires to-morrow, is extended to, the Bth inßt. to the London syndicate. The property will be definitely withdrawn on that date unless negotiations are completed The directors anticipate the property will be floated before that time comes. The Kuraoui is to be Associated. with the Hazelbank for floatation on the London market. April 2 The following cablegram was received to-day by Mr F A. White from London :— " Maou Dream and Alpine contract signed today. Will telegr»ph full particulars." The terms upon which the Maori Dream property wa< floated are that the neW cdmpany shall hay« a capital of £100,000, in 100,000 shares of £1 each. The local shareholders receive 22.500 paid-tip shares (net). The working, capital is £25,000. The Alpine property referred to in tbe cable is situated at Otumui, Thames. In this case the capital is also £100,000, in 103,0(10 shares at £1 each "■ ocal shareholders receive 22,500 net fully paid-up shares, or £1000 Cash less 10 per c»nt. The working capital to be provided is £25,000. At the Wnodst ck mine 220 tons of ore yielded Bullion worfch £1149. April 6. The Waitfckauri return from the Golden Crags Bection oaly for the four weeks ending March 88 vim 6740z gold from 136 tons oro crushed. TThe Hauraki, at Coromandel, cleared up on Wedn-Bday for the excellent return of 2U9oz lOdwt gold, worth £3 per ounce. The Kapai. Vermont, Kuaotunu, crushed 330 tons' for 4700z. The mine is looking welL