Notes from Wakatipu.

Otago Witness, Issue 2325, 22 September 1898, Page 19

Notes from Wakatipu.

(Fbom Oub Own Cobbespondent.) 'Arrowlown, September 17. — The Hooley disasters are not without their lesson to New Zealand mining companies in so far as the disclosures touch upon the overloading of companies. If an analysis of the successful mining companies is made it will be found that with very few exceptions prudent financing counts as a very large factor in the element of success. Of all the reckless financing none is more pernicious than overloading any company in so far that when the error is once committed it cannot be remedied except by reconstruction, which but too often aggravates the fault. The coming four or six weeks will in all likelihood bo a trial to dredges, and the meltIng snow with an occasional shower will keep up the water level of the rivers. However, from the frozen nature of the snow it is not to be anticipated thai it will come away in bulk, but will be paid out gradually, thus avoiding high, floods. The Achille3 mine is now undergoing a thorough inspection by the newly appointed managers, who arrived upon the claim this week, and it is expected that work will be started as soon as a plan of prosecuting the exploitations in the mine has been decided upon. The Arrow Flat Hydraulic Company are losing no time in making a start with their race. The contract for construction has been given to Mr W. Parsons, of Waikaia, who pitched camp upon the ground on Thursday last, and was ready to start work the following day. It is expected that everything will be in working order before the back of the summer is broken, and that the claim will give a good account of itself in the shape of returns before winter sets in. However, it is not likely that the company will be much interfered with on account of frost, as the creek (Roaring Billy, or Soho Creek) is an open and sunny one, and the race lies upon the sunny side of the Arrow Valley, so that frost cannot get a strong grip on the water.

Notes from Central Otago. (From Ottr Own Correspondent.) September 17. The prospects at Nenthorn are looking brighter just now than for some time back. There have been some small crushings, which, have turned out very well — from loz to 2oz to the ton. Sligo Brothers continue to exploit the old Croesus mine with satisfactory results, and "Callery and M'Connel, working on the north side of the township, are raising stone which, if as good as the last taken out, will leave a handsome return. The Bonanza has changed hands, and is now 'owned by some Dunedin people, who have been to a very considerable expense to connect the low level with the old battery level. This work should be finished in a fortnight, when they expect to take out stone. From what, I can learn there has been little stone met with in the rise, so that a good deal of development work is yet before the owners before it can be said that a large body of stone is in sight. If the price which I hear has been paid to Messrs Phelans is correct, they are to be congratulated on receiving a good sum for the mine. 1 hope the present owners may be as fortunate as their predecessors. On Macraes Flat a strong effort was made to bottom a shaft in deep ground near the Chinese quarter, but the inflow of water proved too much for the appliances — " a whip and canvas bucket" — so the shaft was left at 60ft. When a steam pump is procured we may learn what the bottom contains in the form of "the precious metal. At Golden Point good scheelite is being mined and shipped to London. I understand there are a large number of inquiries for the ore, among which niay be mentioned Krupp, the great German gun manufacturer. At Dunback Glover and party are developing a reef with a five-head battery, and the results are eminently satisfactory. I believe there is a likelihood of Mr Sutherland erecting a crushing plant in the same locality.