Notes from Reefton.

Otago Witness, Issue 2309, 2 June 1898, Page 19

Notes from Reefton.

(Prom Our Ovyx Correspondent.) Eeefton. May 28 Mid-dpy quotation? ~ Alpine Extended. 7a to Bs\ Big River, 7s tc 8s ; Bulle" Dredpe. 10s to Us ; Boatmans Exploiation. 6A to 9J ; Cumberland Extend wl,w 1 , la to 3s : ? d ; r-jilon -Extended, 9d to Is; bolder, lead. 6d to Sid ; % eep-it-Bark, 26s to 275; Xo. K 2 Dailr, i) otc 10<i ; Kirwan's Rewatd, 4s to 5s : Progres Mine* (paiT up), 22d to 25=s ; Weicoint- (pair, up), t, tc 3s ; Electric Light, 9cl to Is.

JDF.EF U'KDAM AMALGAMATED COMPANY

• ' l'fca snnusj general meeting of the Deip j totreae* Amalgamated Hydraulic Sluicing Gomj pany i Limited) was held at the registered : office >jf the company, Messrs Cook and j Gtay's, 17 High street, Dunedin, on Wedj nesday, £Dlh/ Mr W. L. Simpson, chairman jxf -direciow, occupied the chair, and a large jjnumber of shareholders were present personally and. by proxy. The annual report and balance J sheet were received and adopted. The Chairman, in the course of a brief review of the history of the claim during the' past year, mentioned that the -tottd length oP race constructed was over 10 .milea: The cost had sbmeivbat exceeded the estimate in consequence of a large amount of undisj closed rock having been ni-t with duriug the ipro'gress of the w rk. Operations "were commenced with one elevator, and a little later on another elevator was put in position. These are both, working well, and the directois have ordered a third, and" have also f uraisbed the manager with a sinking plant. The total .amount of gold won to date was 3910z Sdwt, at a cost which leaves a substantial pi ofit'to tbe shareholders. The retiring directors (Messrs W. L. Simpson and J. Hazlett) and the auditor (Mr A. Bartleman) vrere re-elected.

At the conclusion of the ordinary meeting an extraordinary meeting was held, at which it'was resolved to amend the articles of association by. the addition of a regulation giving power to increase the capital of the company. This resolutfo.ti will coma up foi 1 . confirmation at a general meeting en the 21st June prcx. •

MOUNT LYELL MINING AND RAILWAY

COMPANY.

Advices from Melbourne state that the general meeting of shareholders in the Mount Lyell Mining and KaiHvay Company passed off satisfactorily. A dividend of 4i per share was declared payable on Ist July. The directors have announced tbeir intention to issue 25,000 of unissued shares at £G to shareholders in the proportion of one to 10. The transfer books will be closed from the 15th to the 17th June. Payment is to be made as follows : — The premium of £3 on the 12th- July, with application; £1 on 12th, September, 12th October, aud 32th November. The share* are issued to provide capital to complete the erection of the second five-furnace plant, and make the profits available for dividends.

A DIGGER'S PROTEST : A PUBLIC LETTER

TO THE MINISTER FOR MINES.

<Per Favour of the Editor of the Witness.)

SIX, — You, who are aware of the limited amount of industries in this colony at present for absorbing labour, will, I hope, 3se the justice of one in your position not truckling to syndicates, capitalists and others who would and are trying all they know how to evade, crix->ple, or get abolished, the labour clauses contained in our mining leases. For instance, the capitalists are now trying, through that unrepresentative body calling themselves the " Chamber of Mines," but which is ill reality an assemblage of' vested interests, to obtain an extension of exemx>tions, "which practically means locking up and holding 1 mineral localities for speculative purposes, -and thus creating what we term unearned increment by keeping valuable land idle. Consequently these exemptions, and large leases also, unless stringent labour conditions are enforced, drive the working imp era and diggers a*\vay from.- the mineral districts, and -force these bodies of men on to the labour market and into outside competition with the un&ki'.led general labourer. It also tends to maka things worse all round, and we continually -4jnd & dearth ci employment, as great injury is clone to the many for the sake of the few, aad instead of progression we shall have stagnation in mining. I would, in conclusion, like to specially call the Minister's attention to the excessive size of dredging leases where the 2 river beaches and frcntages are included, thus depriving men now and in the future of .making a living on many of these beaches, which are payable in patches to the poor digger. Hoping, Mr Editor, you will kindly find space for these fiw lines to the Minister in the interests of diggei-3 generally.— l am. &c. a Ot.d Digger.

couthland, May 30