THE AUCKLAND GOLDFIELDS.

Otago Witness, Issue 2310, 9 June 1898, Page 19

THE AUCKLAND GOLDFIELDS.

(Fjxom Otih Own- Correspondent.) Auckland, June 1.

In an interview with the Minister for Mines a Herald press representative said to the Hon. Mr Cadnaan : "After your recent inspection of the goldfields of tbe Hauraki Peninsula, what is your impression as to the future of the industry ? Are you satisfied with the result! obtained and the prospects of the fuiure ?"

" Ifc is easily seen," answered Mr Oadman, " that the boom has gone and that the reaction has set in, but the field generally gives promise of becoming a bullion producer, and wh<xt I might call all the legitimate ventures are doing well, and give promise of improving. Bat though the boom has fizzled cut we iiavs had a mild boom compared fco other places, and consequently the reaction will be milder. Some of the pioperfcies placed on the market should never have been floated, and many claims owe their existence simply to the faofc that they happened to be close to such mines as the Waihi, Woodstock, Crown, and others. The same tbing applies to Coromandel, and, in fact, any place afc all where a mine is doing well. On the East coast claims have been pegged off and companies floated where one would think no sane man woa)d-look ! for a gold minß ; and this has gone on right down-to the water'B edge The companies* wore ] surely never intended to live, atid therefore we i must not ba surprised if many of thesa — I wcin'fc ;Call them wild cats, I would rather say these foolish schemes,' cannot mamtaio &n existence and gradually die out. ..Some of tha companies own property upon which no man would look for an outcrop, and where there are not the slightest indications that % reef exists. They have been floated .simply because they could be ! floated, and because they ' are near to a good [ property. But the industry shows signs of improvement, and several of the lonafide claims give every indication of proving valuable pro- : perties."