THE WEEK'S MINING NEWS.

Otago Witness, Issue 2240, 4 February 1897, Page 18

THE WEEK' S MINING NEWS.

M. Jules Strap, who is at present visiting the West Coast for the purpose of investigating outlets for the investment of French capital in mines, Ac , is a member of tho French Institute of Civil Engineers, and special representative for i Australia and New Zealand of a wealthy and highly influential association, La Binque Franpaisa de l'Afrique dv Sud. The "bank which he represents has, he informed the West Coast Times, a paid-up capital of no less than .£2,000,000 sterling, and its directors include gentlemen who j are members of the most influential financial circles in Paris and the provinces. Founded originally with the intention of confining its operations to South African mines, it has now extended its scope, and bas representatives in the j Western States of America. It has recently equipped and sent out a special prospecting expedition to the Island of Madagascar, and is moving in other directions with a view of discovering profitable investments for the capital which at present cannot find sufficiently remunerative employment in Franco. "While to ; some extent working in conjunction with ' capitalists in London, the main object of the bank is to open up connection direot with the ; British colonies possessing goldfields, and to put ; the properties acquired directly on the French j market without any expensive intervention on the part of the London financial " middle men." M. Strap proposes to make a lengthy stay in New Zealand, and he will take up his headquarters at Breymouth, and make a thorough investigation >f the facilities and opportunities offered f>y the West Coast mines for the employment of capital irovided by his principals or by the companies ■ they might float or finance. Another representative of the bank, M. Gascoel, is at present engaged ' In making a tour of inspection of the northern goldfields, and as a result of their joint labours, should their investigations prove satisfactory, it is extremely probable that before long a very substantitl amount of capital will be invested iv New Zealand mining enterprises. M. Strap's instructions include tho investigation of other fields for financial enterprise besides tho niiuing industry. Wherever he can discover a profitable outlet for the investment of French capital, ' whether in mining or otherwise, he will report ■ thereon. , Messrs A. Spencor, Ellatn, and Mr Q. A. '■ M'Connell, representatives of the London and > New Zealand Finance Cosporation (Limited), were making inquiries in Southland concerning miniDg ,' properties, when Mr Ellarn was recalled to Auck- ' land on urgent business. Mr M'Connell is ! visiting Preservation Inlet, and If his report on j some mines there is favourable Mr Ellam will j return to make further inquiries with a view to ; purchase. j The Tuapeka Times states that owing to scarcity of water for carrying on operations at the Consolidated Company's claim, Blue Spur. Mr i Howard Jackson, general manager, has dtcldedto | shut down, and that for the same cause the Island Block mine will temporarily suspend I work. ' I The same paper says that the Dunedin Gold Dredging Company are applying next court day for a special claim of about 4ti acres, section 37, block I, Teviot district, 'ihe sum of £7500 is proposed to bo invested. The Oamaru Mail says that a body of men are, and have been for tomo little time, busily engaged opening up the Balruddcry reofs for the inspection of the representative of the English syndicate, who is expected Bhortly. As to the gold-beaving cl-ar-cter of the re fs, no test hsis been made since that of Professor Black, and it is probable that no reliable test will be applied until ] after the arrival of the pyndicate's representative, j That there are reefs on the Balrnddery estate, and ; many of there, and that Professor Black's analysis showed them to contain gold, are facts chronicled months ago. What has yet to be seen is whether or not they are rich enough to encourage the English syndicate to acquire the land and work them An application for a special claim by Mr Matthews of 50 acres at the Deep Lead, Bannockburn, has been granted by the wardeD, conditionally o-i Mr Matthews carrying out the purchase of the claiuiholders' properties, together with the water light?. Two years were given Mr Matthewe to do this. The Kiverton District Mining Association having applied to the Minister for MineS for the services of a Government espsrt to examine the gold-bearing areas of the district, especially the Longwood range, with a view to the finding of reefs, have received a reply to the effect that there is no officer of the department whose services are available for examining and reporting upon the gold-bearing areas of the Kiverton dietrict, but if the geologist to the department, who is at present engaged in an examination of the Thamee-Hauraki district, is able to finish his work in that locality this season he v/ill be instructed to vint the -Kiverton and Lopgwood districts as early as weather will permit next spring. At a meeting, on Tuesday night, of minere in the Maerewhebiia district it was resolved to ask the Government to set aside £8000 of the £200,000 voted for mining development for the purple of bringing in a water race from the Otektike to work Uie hospital and borough council reserves at Maerewhepua, which, it is suggested, ihould be acquired so as 'O extend the area of land available for mining purpose?, ihe Hospital Trustees and municipality of Oamaru having endowments of equal value set aside for them. It is the or>in on . f the Waipori Miners' A'sociatinn tb»t the -Iktr'et presided over by Mr Warden Hawkins i- too lirgo, and application to the Government is to be mauc to have it divided iuto two court di.stricls. The Grey Argus saya that the Keep-it-Dark claim, Reefton. has returned 64.6550z 3dwt tter of

gold since its registration, valued at £251,425 6s lid. Gold to the value of £74675 17s 5d was obtained from this mine during the past year. The sum of £111,416 13s 4d has been declared in dividends by the company. It is repovtod that Mr Charles Lempfert, of Wcstport, is to proceed to England shortly with tho object of floating a company to work the Beaoonsfield mine, Waimangaroa. Some extraordinarily rich gold has beeu found from time to time in the bed of the Waimangaroa, but curiously enough, nob a speck cvi bo found above the line of the Beaconefield reef, and the fact that the gold is largely intern: ixed with quartz points to ihe fact that a rich reef existsin the vicinity. Mr Lempfei "'•■■ lined a pocket of magnificent specimen. . o locality. Mr Jabez i, ..m, of Roxburgh, reports : "The river rose laM vmek about 10ft, and consequently ia too high roi- drodging. The Ettrick and Roxburgh dredgph will not probably be able to work this week." I'ho Sfcr^t.ry of the Barewood Quartz Mining Company i Limited) reports a return of 570z ydwt returned gold for tho past four weeks' woik ; actual crushing time, two weeks. Mebsrs Neluon and party are now engaged in sinking a shaft at Glenore with a view of striking the true bottom of the wash in their dredging eLuin. So far the dredge has been working on the false bottom of the wash. There is no doubt, provided Ruificient water and fall can be obtained, that hydrauHcini; will be found the best, the most economical, nud thorough method of working the various ruiuing claims at Glenore.— Bruce Herald. The North Otago Times says :— " The mining industry develops perhaps more individuality and enterprise than many other avocations. Every miner must depend for the most part upon his own exertions for making headway. SonJe undertakings that are going on at Maerewhenua are highly commendable to tho skill and industry of the miners. One of the works, of a character that is seldom undertaken, is being prosecuted by Mr Win. Bailr y for Messrs Butt and Kennedy. The work is the tunnelling of a hill to foini a tail race from Mr Howe's old place to Bushy Creek. The cutting to the approach of the tunnel ia already 60ft beneath the surface. Some 10 more feet have to be blasted away, and the tunnel itself will be seven chains long. Mr Bailey ha< the contract for this work, and when it; is completed a considerable area will be able to be washed and tailed off through the tunnel." The following items are from the Tuapeka Times :— The continuous dry weather has made water for mining purposes very scarce. The Consolidated Company's mine had to suspend operations on We.d ne;) day through scarcity of water. It is a bad job for the men employed, as every day lost means shortness of pay at the end of the month ; and it means in addition lews money to be circulated in the district. It ia to be hoped the much-needed rain will soon mako its appearance, and that full time -ngain will be the older of the diy. — The Munro's Guily Company are busily engaged in Btrippiug off the top dirt, preparatory to fixing their elevators. They havo a tair supply of water, sufficient to enable th6in to work about 12 hours a day. They have sent s me men to the head of their races to enlarge them so that they can bring in a better supply of water. — Tbe Local Industry Company, who have the advantage of a very large storage 'dam, have not as yet felt the w.iot of rain. They are elevating their usual time— viz., nine hours a daj'. They are also at present erecting a new line of boxes.— The Gabriels Quartz Keef Prospecting party are working steadily away. They have a very expensive undertaking in hand. They are in with the tunnel about 700 ft. I fee their application to the county couucil for a Government subsidy was received without dissent and a committee appointed to inspect tha works and leport— it is hoped favourably. The party who have undertaken the prospecting of the reef are engaged in a work that promises to be of great v^alue to the district, and they are certainly entitled to some consideration at the hands of the Government. If successful, and present indications give high promise in that direction, the opening up of the reef will be the means not only of employing a large amount of our surplus labour, but of attracting the attention of investors to the district with the view of further exploiting our unexplored auriferous wealth. I trust, therefore, the county council will make a serious effort to aspist ths undei taking. We (North Otago Times) have to apologise to the pevson who made the. statement that a reef five miles long had been discovered at B»lruddery. We aro not aware of his name, but we were informed yesterday that the statemant is quite true. A clearly defined and true reef has bean traced for that distance, but more than that we cannot say. But we have heard it said that thoso exploring the country are more than hopeful of the result.