THE WEEK.

Thames Star, Volume VII, Issue 2099, 25 September 1875, Page 2

THE WEEK.

It cannot be said that the record af the week's mining is "the most encouraging that could be wished, for although the returns have been pretty well up to the average certain indications have not been wanting to show that there has been a retrograde movement. Tairua mining has not been so much in the ascendant, while as for Ohinemuri, with the exception of the Waitekauri, things have been at the lowest ebb, and appear likely to remain there. Only one claim on the Karangahakc spur has been taken up, it is said, although the period of protection for several has expired, and the one in which a show of manning has taken place is but partially worked. This is a very bad state of things for a district from which so much was expected, and on which so much* money and labor and talk were thrown away.' Tairua is stagnant for want of roads. Unless the mine owners bestir themselves very soon, the best portion of the ground taken up will have to revert to the Government. By those competent to judge it is said that the money now being spent in some of. the leases is absolutely thrown away. It would be better to spend the money in making a road than to keep a number of men pottering about doing what is by courtesy termed prospecting. In some of the licenses it is farcical. The mine manager makes a point of coming in at least once a fortnight. He has to leave on Saturday, and of course he does no work on that day. Then M onday is spent in town and a fresh start made for the field on the Tuesday. Thus three working days are lost. In some instances it has been remarked that this course has been followed every week; and this is what shareholders, are paying calls for. In a slightly different form the abuses of the early history of the Thames are beingrepeated. Caledonians have gone down this week—at least they haven't gone up until yesterday, when there was a little more enquiry and a slight .rise. The next crushing ought k> be a good one with all the rich stone reported during the last two weeks. The Inverness (Schofieid'a tribute) has shown up splendidly again, and the holders of scrip will next week have the pleasure of receiving a "div." from the company's percentage, If the tribute system more frequently resulted in this sort of thing, it would be more generally appreciated by shareholders. With the usual regularity the. Queen of Beauty paid a handsome dividend, larger than the next one will bey as crushing has been knocked off at one of the batteries. It is to be hoped that this diminution of crushing power will not be for long, as the Queen of Beauty is looked on as a standby for swelling the gold returns. The Bright Smile too — owing to an influx of water, it is said, which prevents the company from opening out at the lowest level—have considerably reduced the number of hands employed in the mine, about 50 having been knocked off at the beginning of the week. Ten head of stampers at the battery have also been hung up. These circumstances must tell seriously upon the gold returns and upon business, for there is not such a demand for labor just now that 50 or 60 men can be absorbed in a few days. There is a probability of the Bird in Hand being resuscitated, an energetic manager having undertaken to float a new company to pay off old liabilities and resume operations. The success of the scheme depends largely upon the co-operation of Auckland men, Thames investors having agreed to subscribe liberally. A good piece of ground like that held by the Bird in Hand ought to be valuable. Tookeys is in low water just now, and judging by the report of proceedings of a meeting at head quarters, the Ballarat men are pretty well sick of their venture. It seems a pity they can't come over and see this district for themselves. Some of them would undoubtedly see something good in it, and a faithful report from a reliable man would tend to dispel the suspicions of Ballarat men regarding the capabilities of this field. Th^y are evidently shy of the place, and certainly their venture in Tookeys has not been of such,a character as to inspire confidence. Coromandel has been looking up lately, the Union Beach and Tokatea both keeping up their credit. A piece of ground next* the Union Beach, has been started working under fair auspices, and the promoters of the venture are sanguine of success.