THE WEEK.

Thames Star, Volume VII, Issue 2129, 30 October 1875, Page 2

THE WEEK.

A very dull week in mining has the past been, with a fall in stocks,, mostly brought about by the stagnation caused by the Waio-Karaka crisis and the disappointment which prevails from the failure regarding Tairua claims. Expectations about the latter were very high, and the Prospectors' especially • led people to look for more than results have realised. The forty pounds of stone from this claim, it will be remembered gave six ounces of gold. f*"oon after a couple of tons of stuff were brought down which yielded forty ounces to the ton. JS'o wonder people were excited over such magnificent results, neither is it to be wondered at that a reaction has set in when the average yield f om ihe stuff is raorelike four than forty ounces to the t>n, especially us the two ton* crushed here we c said to. have been taken indiscriminately—not picked. If that were true the character of the reef must have altered considerably. However good judges say that with adequate crushing power two ounces to the ton will pay the Tairua shareholders a handsome dividend, but that the present toy battery is a mistake. There is no doubt much of what is true in thi*, but it does not excuse the representations which led people to expect forty ounces to the ton. while the falling off fully accounts for the depreciation in scrip. A scheme has been propounded, which will shortly be laid before the "parties interested, for relieving the stoppage in the Waio-Karaka. Circumstances have occurred to prevent its t'eing made public, but the scheme embraces a proposal for a pumping association in the Waio-Karaka district, the details of which appear to b" most feasible Ir is proposed to utilise the water supply for pumping purposes, which would very mum reduce the cost of pumping—a gr at, consideration. Before another week elapses the details of this scheme Trill probably be before the puhlic, until which time this bare reference to it will suffice. The gold returi s for this month will probably show a marked decrease. It is only what may be expected under prevailing circumstances With such a large number of skilled miners idle it would be surprising if the returns came anything; near the average, t'oromandel is forging ahead rapidly. Recent discoveries in the Union B< iach (the Green Harp of former notoriety) show that extraordinarily rich deposits exist in that portion of the pen:nsula. A gentleman who has recently been through the workings of the Onion Beach, and who is no mean authority, reports most favorably of the mine. He states that the specimens will go three ounces to the ton, and some of them are so rich that the metal is in greater proportion than the quartz. The Bismarck and Tofcatea also show up well for a prosperous future, and Coromandel is just now attracting a large share of attention. Waitekauri has come to the front with new discoveries, reported as of a most promising character. While the present is a most critical time and sufficient in its influences to account for the depression which prevails, there are signs of a prosperous future and promises of better times, which ifc is to be hoped will speedily bo realised. .