MINING.

Otago Witness, Issue 2394, 18 January 1900, Page 34

MINING.

There has been quite a revival in speculation since the holidays, and shares in the various concerns placed on the market are being freely asked for. From what I can find out the Cardrona is fasi coming into favour as a dredging field. The Rollingstone will start dredging soon, and if she gets good returns we may expect to see Cardrona stock go up like .a balloon ; but even if &he does not get Hartley luck, investors must remember that one dredge working for a lew months does not prospect a whole valley many miles in length; and this should cut both ways and prevent a» undue inflation in case of success and an unwarranted depression in case of failure. But judging from the accounts I. get from, trustworthy soiirces, there is veiy little fear of the latter alternative.

Wliivt no one in Cromwell can properly, underfliir.d is the'lethargy in which Upper Clutha claims are wrapped. I lately viewed every foot of the river from Albsrtown to Lowbum, and was really astonished at the amount of fossicking that has been done all along the whole distance, somewhere about 30 miles. Every point has been cradled or sluiced. Here and there one passes the remains of wing darns built in the old days to divert the water and to allow acce3s into the river bed. All this fossicking and wirjg-dammiHg was not done on the blind, but to get goM, and before wing-damming a rivar the miners must have traced the gold at that point into the 'stream.

Mr Roberts, the engineer, in company with Mr Kyle, visited the Luggate in order to inspect the water rights held by the White brothers in order to see if it was possible to generate power enough to work several dredges by electricity. The coal question" is "a big "one on the TJpper Clutha, and a siipply of electric power would mean a great«eaving.' Ido not know what decision was arrived at. The race was visited and levels taken, so that the x'roblem will be solved by this time.