TAIRUA GOLD MINING COM-PANY.

Thames Advertiser, Volume IX, Issue 2251, 15 January 1876, Page 3

TAIRUA GOLD MINING COMPANY.

To the Editor of the Thames Advertised. Sib,—Certain letters having appeared in former issues of your paper signed by " Shareholder" and " Shareholder No. 2," in which my name has appeared rather prominent in connection with the Tairua Company, IJ attended the last meeting in Auckland with a view of giving shareholders an explanation of what I know of the affair, and fully expected to have met Ijhe lato manager, Mr Beeche, but he did not attend, and no explanation was asked. As I am unable to attend the meeting on the l7lh, I will reply to some of the re-, marks contained in those letters as briefly as possible. Having purchased shares I was made a director at the first general meeting held at the Thames. Being informed at a subsequent meeting of the board that the toy battery (alluded to) had been purchased and conveyed to ■ Tairua, and knowing the fallacy of erecting such machinery, I strongly urged upon the board the advisability of putting'up with tho first loss, and leaving it there altogether; but considering the company so far _ committed, they determined on taking it to the site and erecting it. This I consider was ono of the principal causes of tho company's troubles. With reference to my knowledge of the mine and the allusion to my twenty years'experience, I may state that tho formation of the company was so different to anything I had ever seen before (and I think the same-remark will apply to every one else who has seen it) Tcohsidcredithat twice my amount of experience was entirely valueless, and still consider so. But seeing tho rich prospeots ' of gold distributed through a largo body of

stuff'in the shaft, I was of opinion that it was either a quartz reef or in close proximity to one. I frequently went down the shaft when on the ground. The last time, if I remember aright, was about three weeks before the battery started and when the shaft was within ten feet of its present depth. Everything then looked first-rate, with every prospect of continuing downwards, the only difference being that the stono was much harder than at the surface. I then went to the Thames, and remained until the day previous to the battery starting, when 1 proceeded to the mine, as did also Messrs Graham and Jackson. On arriving at the mine, Mr Beeche' assured mo that everything still looked first-class in the shaft, and informed me that in consequence of the bad weather, the packers were unable to take the stuff to the battery, and that having a large nuni-' ber of bags filled ho had allowed stuff to accumulate in the shaft for safe keeping, rather than havo it exposed on the surface; that he had consequently temporarily stopped the shaft until he could get the stuff away. He had, therefore, placed some slabs on the lop, to comply with one of the goldfield regulations. Not having the slightest reason to doubt his word, I was satisfied. The day after the battery opened I again visited the Thames, and remained a fortnight. On returning to the mine I found that Mr Beeche hadopeued a drive in theshaft near the surface, and on inquiring why he had done so, he informed mo that the stuff below where he had opened was too hard for the little battery to crush, and as there was a largo amount of soft rich dirt, he had thought it advisable to open out and get sufficient gold to pay for a larger battery before doing any more below. This account of it seemed so feasible that I had not the faintest suspicion of anything wrong, and although disapproving of his style of work I did not see, under the circumstances, how ho could well avoid it. I asked him particularly if there was any change below, and he assured me that there was not, and that it was quite as good as the top. I did | not know the shaft wbb filled up, but understood that he had covered the top with slabs to prevent the stuff he was then working from falling downwards. At a subsequent meeting of the directors, at which Messrs Ehrenfried, Jackson, and myself were present, I strongly urged upon them the necessity of sinking on the lode to prove its value at a depth, but through the strong opposition raised by Mr Jackson I was over-ruled. Mr Beeche came to the mine after his discharge and still asserted positively that his former assertions were correct, in consequence of which I advised the directors to get the shaft cleaned out, the result of whioh needs no comment. I shall pass over " Shareholder's" remarks about directors'- squabbles, not being aware of them; but Mr Gillett's name being mentioned, I beg to state the company got nearly all their supplies from the Thames. lam not aware that anything the Thames directors knew was concealed from the Auckland directors, but am thoroughly convinced that the directors as a' whole did what they conscientiously believed to be for the benefit of the shareholders; and I positively assert that I neither sold a share in the company, directly or indirectly, nor received profits accruing from the sale of shares; and the motives of directors retiring are entirely foreign to that attributed by "Shareholder." If "'Shareholder" requires any further explanation, I shall be most happy to give it, but request, as a lover of fair play, that he will givo his real name.—l am, Ac.,

Walter Built.