Notes from. Reefton.

Otago Witness, Issue 2412, 24 May 1900, Page 21

Notes from. Reefton.

(Prom Otje Own Corssspondext.) REEFTON,' May 21. • The Manager of the Big River 'reports far the week: — '" "We have started stoping the stone over No. 6 l«vol. The reef is slightly broken, but shows a little gold. The winze from tho No. 2 level has been sunk 9ft for the week. The stone is still going down, but is small, being pboui ISm wide, and showing gold. The cor tractors have driven the No. 1 intermediate level 15ft for rhe week. The ground is improving "in appearance, with occasional lumps of quartz coming in the face." Returns: Eulier dredge, lOos 13dv?t gold foT 30 hours' work. The dredge is still opening out a new paddock. Consolidated dredge, 803 odwt Bgr gold for 113 hours' work.

THE DEEP STREAM AMALGAMATED HYDRAULIC SLUICING COMPANY (LIMITED). The follownig' is tho directors' report to be submitted to the shareholders at the annual general meeting, -which will- be held on the 26th May ■ — The directors submit tEs balance sh^t for the year ended 31st March, 1900, and in doing so express regret that it does not show such > good results as that submitted laat year. During the year SOioa 3dwt 21gr of gold have been won from the claim, of a value of £3075, as against 13130z 17dwt 18gr, of a value of £4700 won last year. The shareholders have received £1200 in dividends, as against £1750 last year. There are several circumstances which have "contributed to cause this result. First, the frost during June, July, and the gieator part of August suspended ail work; secondly, In October the manager had the misfortune to meet with an accident; thirdly, the failuie of the> water supplpy in the latter pact of February paid during March pievented more than one elevator being used; and lastly, tbe unfavourable result of ths ground opened up by the interim manager (Mr B'arr). The directors during the year surrendered, the titles to all the claims, and had them brought under the provisions of tho Mining Act of IS3B, and thereby effected a considerable saving in rent. In June last the company was put to great expense by an attempt made to jump part of the ground; but the clnectors' foresight in having obtained a protection frustrated the attempt. During the year tho company's works have on various occasions been visited by the directors, and in March Mr M'Hattie, a practical miner, who had previously reported on the works, visited the ground, and gave the directors the benefit of his opinion. In terms of the articles of association, it is necessary to appoint two directors in place of Messrs Herbert and Simpson, who retire. Mr Herbert, being eligible, offers himself for re-election. The auditor also retires, but is eligible for re-election.

RE LAST CHANCE HYDRAULIC SLUICING- AND GOLD DREDGING COMPANY (LIMITED). TO THE EDITOB. Sib, — "With regard'to the affairs of the above company, I should like one or two matters explained. Might I ask thst you will publish this in the columns of your valuable paper? The shares stood at a premium up to December last. After some correspondence which in your columns in (at the earliest) January — six months after flotation of the company, — I received a circular which stated that owing to adverse criticism which appeared in the Witness the directors had decided to have the ground re-tested, which had been done with satisfactory results. In the Witness of 10th May I notice that the Last Chance has nothing yet on the ground. May. I aak, Sir, if the directors were . asleep from July to January, or, if not, what reason there was then for postponing the ordering of dredging material? I received a post card the other day advising

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date of annual general meeting, but as the communication only airive'd the day before the meeting was held, I was quite unable to attend or appoint a proxy. I have not received or seen a report of the meeting, but leccived thiee days ago a copy of the balance sheet. This is indeed an interesting document. The assets ars wholly contained under an item, " pining property and plant, ' -6SOO. Now, Sir, the plant, since no dredging material is on the ground, consists wholly oi sluicing material, which has been utilised during the year with the result that the gold obtained does not pay bare wages. Truly, as the last circular so gravely informs Us, we possess some " valuable assets, which have had to be paid for." — I am, etc., May 12. North Island Shareholder.

CORNISH POINT DREDGING COMPANY. TO THE EDITOK. Sir, — In your issue of the lltli ins I. I noticed a par in your mining column drawing the attention of the public to the reports o:i the above claim issued by Mr Payne, C.8., and ifr John Kitto, dredgemaster of the Magnetic. Without for v moment v/ishing to disparage the reports from these gentlemen, who 1 firmly believe are thoroughly conscientious and well to the front in their respective professions, I bag to point out £> far simpler plan whereby confidence will be instilled into the minds of the public and shareholders m the above claim, and settle once and for all the strongly debated question whether there exists an old arcl deep T.ver channel through Cornish Point, or .•whether, as some of the o.dest miners assert, the bedrock is, only a few ieet below the surface right across the teriace. At present the boring rods a.re being used on the Rise and Shine claim with excellent results. lam not alluding to the prospects got, but to the fact that the bottom (pipe clay) had been reached, thus enabling the engineer to judge, per depth of bo.-c, as to the length oi ladder required cm the up-to-date dredge proTaosed to be placed on the claim by the directors. I" may Her 8 slate that by means of the boring rods this is the first time bottom has actually been reached in the bed of the Clutha River; all other attempts to reach it by the small dredges* hitherto trying to bottom having failed in this, particular portion of the Clutha basin. Now, Sir, if the promoters and directors of th 3 Cornish Point Dredging Company have the courage of their opinions, and the same confidence in their claim as the directors and promoters of the Rise and Shine Company have in theirs, they should not hesitate for a moment in engaging the boring rods when finished with at the Rise and Shine claim, to bore .light across their claim, and test, once for all, •whether there exists a deep channel in it or not. Although Cornish Point, from the surface to the river level, is over 100 ft in depth, I will guarantee that the rods will find the deep ground if it exists, and that their test is infallible.— l am, etc. Interested.