Notes from Auckland.

Otago Witness, Issue 224, 28 May 1896, Page 17

Notes from Auckland.

Auckland, May 19.

An offer has been received by the owners of the Nevada, Ruapehu, New Caledonia, and Knipress holdings at uwbsiroa f.»r the flotation of the combined properties, for £500 cash and 26,0'UJ shares in the company, with a working capital of £30,000. Mr Gooch, agent for the ownera, wired yesterday accepting the offer. Two offers have bee received for the Golden Fleece, but the directors did not accept either at prei.eut. Miy £0. The directors of the Few y Whftu Gold Mining Cwnpafly met to-day to consider an offer received for their opinion of floating this property on the London market. Tbe turms are that' a company ia to be formed with a capital of £150,000, in £1 shai-fs, the New Whau shareholders to receive 3- ,000 fully paid-up shares and the Chines 15,000, and a working capital of £22,500 to be provided. Under these terms shareholders in both companies receive at the rate of thr.oe p%id-up shares for every 10 held in the present companies. The directors decided to accept the offer, subject to a deposit being paid towards the working capital, such sum to ha expended in developing the property. The combined area of these properties is 74 aenss. The following cablegram was posted on the Exchange to-day :— "New Tokatea underwritten. Will be floated immediately after the Whitsuntide holidays." Ihe export's report on the Sterling for the London purchasers has been received, and is considered of a highly satisfactory natura. With regard to the Talisman, information has "been received that the £25,000 working capital has been lodged ia the hankawaiting a cable from tho bank here that the deeds are all right. The deeds are now complete I. Mr Curtis of the purcha ing firm in London is expected to arrive in a few days. A<< to the Now Alburnia tho balance of £10.000 cash to be paid to the local shareholders has been lodged in the back to their credit to be paid over as soon as a meeting of shareholders to confirm the sale has been held. A cablegram has be^n received re Hauraki South stating that £600 caih payment on account of the purchase money has been deposited in the Bank of New Zealand, Auckland. A reef 9in wide has been rut iv the K*panga niins at Coromundel at a depth of 930 ft carrying splendid gold. The value of the discovery is very great to the company, and is of the utmo-t importance to deep level mining on the peninsula. There is great excitement in Coromandel in coosequence.

A meeting of the Finance Committee of the Charober of Mines was hold to-day, when the following letter wa3 rece ved from the French Consul at Welliugton :—": — " I have noted in a great many French papers that transactions art made I on the Con iuent in New Zealand mines which have only a problematic existence. If the j practice becomes general it will cause a great prejudice against ho&e^t Ventures, and it will sully the good name of the colony." I suppose you have a register of the mining companies in your province, with the shares quoted at the Exchange. 1 should lik« as complete & list as possible of all the existing companies, with the amount of the capital the valud per share and the actual price of the shares, the po ition of mine, *c. I shall send this list to Pivris and give it publicity, which will benefit your chamber, and will prevent the the Bale ; of valueless title 3." It was agreed to recommend to the council that the French Co&sul be furnished with all the information available respecting the mines registered with the chamber. The members present were of the opinion that the furnishing of this information would show the advantage of a mining company being registered with the chamber, and would, no doubt, lead to every company in the district being so registered. It was agreed also to forward information respecting those mines registered with the chamber, together with plans, to the Agent-general in London. The Great Mercury returns for the month record some 9Gooz ot gold from 500 tons. Hitherto the yield had not reached loz per ton. -■ May 22. j At a meeting of shareholders in the Monowai tha directors were authorised to dispose of the property on «iuch terms as they thought fit." Cable advice was received to-day stating that the Sphinx property at Owharoa has been floated in London by Messis F Ingltsand Kobson. The directors of the Maritana Company have received a cablegram asking that the terms of option upon which this propwty is offered for flotation on the London market be modified. This request was declined, and the property has been withdrawn, as a very much better offer has been received by-the directors. May 23. A cablegram was received from London yesterday which stated that satisfactory progress was being made with the flotation of the City of London property on very advant>gdous terms to looal shareholders. Advice^ were received yesterday in reference to the New Alburnia, stating th*t arrangements had bean entered into that no shares in the property named should be sold in the London market under ! 25s per share. As the local shareholders get share \ for share for those now held, in addition to a dividend from the £10,000 cash paid, this news caused a brisk rise in New Alburnias yesterday afternoon. The sale of the Karaka mines by Barclay, Bayldon, and Crawford to Mr C. A. Morris was completed yesterday, on terms which have not been disclosed. The negotiations for the flotation of the Car- 1 digari, property, in London, which have been pend-

f ing for soruo time, were yesterday brought to a I satisfactory termination, and the stipulated deposit has been paid into the company Tks following cablegram has been received from Messrs Incite aod Robson, dated London, May 22:— "Sphinx prosoecting syndicate ha 3 been formed. Capital .£25,01)0, already subscribed. The company undertakes to spend .£4009 in developing the firopurty. The vendors receive £400 cash and 50 ' shares (Jth) paid-up." Ihe property ia situated at Owhiroa. Mr 11. Gilfillan, jun., local secretary of the Great Mercury, gives tbe re.-ult of the recent clean-up at 2lßoz— viz., battery 360 tons, 108 <z ; cyanide 276 tons, llOpz. The return would have been laigcf had the machinery not been stopped for an overhauling. A previous statement to which publicity w*s giv..n would thus appear to b<? inco;iect. A t a meeting of shareholders of ths Talisman Extended, Cotnstock, and Rising Sun Coiup&nies, resolutions were passed authorising the directors to dispose of tho properties". - j