Notes from Auckland.

Otago Witness, Issue 2201, 7 May 1896, Page 19

Notes from Auckland.

Auckland,. April 28. A second corrected cable 'has been received by the directors of Waitekanri No.,4irom 'London, .which reads: "in regard to your -.cable (dated 20th, contract signed on 21st April. Propose to .'issue ,wi .hin next few days." At a tmeeting ,of the Cardigan .shareholders resolutions were passed 'empowering tho directors to dispose of the property upon such terms as the board deemed advisable At a meeting of the Golden Tokat«a shareholders, the chalrcuau stated that reports and .plans ia connection >witb tbeftnating of ithe.com> p»ny were tent Home by the last mail. There was every prospect of satisfactory nows in this connection being received shortly. A icable has ibeen received that the KuranuiCaledonian • 'otupany is being formed in London. The new company has a capital of £170,000, in 170.000 shares, of >whicb number 150,000 *to to be .issued, the other 20.000 to be resetved for the future. The working capital to be .provided its JE25.000. Uuder the terms upon which .the property is sold Hazeltunk. shareholders will receive Is par share gash. They also get '85 shares fully paid up to a pound in the new company for every 100 held at present. As Goomer's Kuranui is a private. syndicate^the terms paid for the property have not transpired. The combined area secured to fchenew company is .30 acres, which includes tho famous CaWdonian ■ground, with Kuranui stamper battery acquired. April 59. At a meeting iof the Star of Tokatea (Goro■mandel) it was stated that a power of .attorney and all documente had been forwarded .in response .to -a cablegram from a London .syndicate who 'Were negotiating for the sale of the property f At the half-yearly meeting of the "£ion .Gold .Mining Company, the director* stated that step 3 .had been -taken to place the property oa 'the .'English market. A second brokers' association has been formed, the entrance fee to which ib £50. The.Tarawera took to Sydney £6000 worth of ■bullion for th«t National Ba.uk. April 51). Messrs J W. Walker and C. M'Lean .have com. <pletedithe purchase of the Maratoto property from -Nicnoll and parky, £2000 cash beiDg paid tothe [■vendors. The area is 70 acres and a -milling tplant. plans of the property are Already in the hands >of Mr Walker's London agents for .the pur* pose of floating the mine on the market. ■ At a meeting of shareholders of 'the .Princess (May resolutions were passed -authorising 'the 'directors to dispose of the property. v May 3. Important developments have taken place in .the Waihi mine. The developments on the (Martha lode in No. 2 level are proving of a .highly .satisfactory nature. ° A crosscut has been ,put •through the lode, and the width proves to be 52ft, some 80ft of which gives an average assay of over loz of ipure>Kold to the,' ton. The' mine manager's explanation of the great width of theilode at this ipoiut is that probably the right band branch of the Welcome lode ' has functioned with the Martha. The result of the month's operations of the May Queen is the crushing of 100 loads for llOoe retorted gold. 'The output was small owing ■to tho Btaff being kept' to the lowest in view of the flotation of the company, but the yield is slightly ,above the average. Waitekauri King.— A cablegram was received that everything in reference to the flotation has been gatisfactorily arranged. A proposal has been made to the directors of the Central Cnmpany for the purchase of the property, local shareholders to receive £5000 nash and 75,000 ;paid-up shares in a company of 200,000 £1 6hares with a working capital of £25,000. Cable instructions have been received from London for the immediate completion of the legal documents necessary for the tran*fer of the property of the New Alburuia, when .£BOOO cash wflf be paid and the shares transferred to local shareholders. May 2. The market for mining stock was decidedly better on the Stock Excnange to-day than for gome time past, more especially for high repriced shares, which points to outside buyers operating. Waitekauri shares were inquired for at £i 15s, and Woodstock at 21s 6d. Tali«m»ns were firmei in price. These shares were freely offeied ye»ter< day At 10< 3d, but to-day's sales were made up to 10s 9d, -with further buyers at *10s 6d, and- no sellers * under ' lls. Buyers of Crown shares advanced their offers to 355, but holders declined to sell under 365. Victoria sold at 3s 2d, while WaihiConftoHdated sold freely at Is and Is Id. . Yount 'New Zealander share* were vsry firm, and sold at 1b 7d. Waihi Extended were alßo in demand, sales 1 being made as high as Ud. Centnla -and Jewels also 'firmed a little in price. Goto* mandfl shares were rather neglected, the only salt reported being HaurakiNo. 2at Is 7d. Although Kuaotunu stocks were firm no transactions wera reported. Lower Thames ihares were in good demand, but with little change in values beyond an advance in the price of Album ias, which sold at sa9d,,a,nd Moanataiari at lls 2d. A cable was received from London to-day notifying the successful floating of the Waita- • A cable message has been received by tha directors of the Waitekauri No. 4 Company stating that the has been successfully Seated, and -the shaws for .the local shareholder* ■would be handed over to the solicitors ef th« company. -At a meeting of the directors of the Alburma Company the solicitors fully exnl<"«ea ♦*

position of affairs, showing that the property was absolutely floated. It was decided to call an extraordinary meeting of shareholders to wind up the local company without delay. After this being done the distribution of £10,600, cash purchase money, will i aka place. .The directors of the Waihi Consolidated Company (Favon's) and Bi illiaut Company hive to band £1000 .as the' second instalment of the working capital. Highly important developments have occurred in the Kapanga mine, Coromandel, in which operations on a very large scale are proceeding by an Knglish company. Good gold has been discovered in the leader cut in the main shaft below the 909 ft level. This is the moat important find yet made, proving a richness of hitherto untested ueep levels. The market generally is very firm ia mining stocks.