Notes from Grey Valley (W.C.).

Otago Witness, Issue 2430, 10 October 1900, Page 21

Notes from Grey Valley (W.C.).

(From Our Own Correspondents.)

BRUNNERTON, October 3.— The great demand for coal has evidently harassed the people of this locality. For the past few weeks several business men largely interested m coal mining have been busily engaged collecting plans and information in coimectio/i with the reopening of the old Wallsend mine, and are nip king every preliminary arrangement with the view of having it opened at an early date. The matter ef calculating the necessary outlay for up-to-date machinery has been placed in competent hands, and the plans of the underground workings show a considerable area of coal m sight. In fact, the coal proved and unworked bids well for a large output for a number cf years to comei

GREI RIVER

Machinery is being placed on board the Dobsoii dredge with all possible speed, and providing all goes well, it is expected the dredge- will commence work in a week or so.

The return from the Grey River dredge, wliioh was 9oz, was nothing to be compared with what was expected by a good many people about here. Most of the Brunner folk expected at least 15os or 20oz, while some of the Greymouth people were sure of lOOoz for the first washingup. Notwithstanding these expectations, tho return of 9oz is considered by experts to be very fair indeed, as the spot where the dredge is at present woiking is not a favourable one by any means, being just below a point which juts out into the liver. However, it is the general opinion of the mining community that her returns will greatly increase, and that in three weeks' or a> month's time the Grey River dredge should be giving as good a return as she ever will. The following paragraph fiom the Grey River Argus speaks well for local shareholders : " The return from, the Grey River dredge has not lowered scrip a little bit. If anything, it has hardened."

NELSON C'BEEK,

October 4. — The Nelson Creek Company's dredge i& almost completed, and as far as I can gather it will be working in about three weeks. The Nelson Creek miners have wonderful faith in this company's claim, there being no two opinions about its value. All appear to be thoroughly satisfied that shaieholders will reap great profits in the near future.

The Pactolus dredge has a quantity of her machinery now on board, and as soon as tho balance airives work will be pushed on with all possible speed. Mr J. Cowan is the company's dredgemaster. Like the Nelson Creek Company's claim, the Pactolus is considered one of the favourite claims on^he Coast.

THE GIBB'S BEACH (MOLYNEUX RIVER) G.D. CO. (LIMITED). TO THK EDITOR.

Sir,— A notice recently to hand infoinis me that the directors arc asking shareholders to increase the capital by instead of j£2500, as proposed about a month ago. The object now in view is apjiarently the same as formerly — viz., the purchase of the Bengerburn Company's claim. I hope on the 11th inst. a majority of the sfcarekolders will vote " No 4 "

with a great big N. The Bei gerburn people recently sold their dredge, and to clearly do not intend to work the claim', therefore they cannot hold it. In these enlightened days the odds are probably a million to one against another company being foinied to take up this giound, and it seems nonsense foi our company to give 500 phares for a pioperty of such doubtful value. If it is true that tho.=e who wish to sell the Bengeiburn ground are piaclically the s?me people tint sold the Gibb's Ee?ch property, then, it they have any sense of equity they will gladly transfer the pclditlo.ial ground without any fmther consideration, for surely , even in the mad-headed times of a year ago, £1600 was an extraordinary loading for a claim of the Gibb's Beach calibre. — I am, etc., Shareholder.