THE WEEK.

Thames Star, Volume VII, Issue 2147, 20 November 1875, Page 2

THE WEEK.

soon after the unpleasant feeim'gs aroused by the stoppage of the Bright Smile pump, the "revelations" the Tairua Company's mine have not conduced to inspire confidence in mining. However much or little truth there.-may be in the general allegations levelled at the manager of the Tairua Company and one of the directors—and which are likely to be enquired into by in impartial tribunal—there is no disguising the fact that bitter disappoint* ment exists at the result of the company's Cl?ttshings,swhich have fallen so immea-: surably short of. what was expected that the disappointment is easily accounted for. But although there is no doubt good cause for the growling which is heard, there is; also room to hope that when this fdeling of dissatisfaction has worn itself out, and ' the new battery gets to work under care- ' ful management, the Prospectors' claim will, once more regain a place, in public ' estimation.- It is a misfortune that s&ch ! a rich patch should hare been found afc the^ first start, only to raise expectations | which present prospects of the mine cannot sustain. But there is also something I exceedingly reprehensiblo in the way this mine and its belongings have been misrepresented. If the present^crisis works a cure in this direction, it will be not altogether an unmixed evil. Tairua has-been; somewhat over-rated; now that this'i has been admitted, people will have to moderate .their views, and set to work in a different way, if" the undoubted resources of the district are to be developed. A great deal of the ground which was taken up on the opening of the district by the miners will, no doubt, revert* to the Crown, and be' again taken up before very much will be done to work the various claims as they should be worked. Dull as are the prospects at present, a favorable change in. one or two directions, would do wonders. The machinery for the Prospectors' and Ajax mines,. when, in working order, will go far towards a thorough test of its auriferous character. Meantime there is still a demand for roads, which do not appear -ta have been very much improved- by the paltry sums of money expended. In any other province there would have been more attention given to such 'discoveries as those made at Tairua. The poverty of this Province, however, is put forth as a fair excuse for "toot undertaking works on a large scale, and so the 'district is kept back. The expected visit of His Honor the Superintendent will, probably see something done on a scale more commensurate^with requirements. - The first step towards bringing about an arrangement for starting the Bripht Smile pump on a more satisfactory basis has been taken, and it now rests-with the adjoining mines to say whether the proposals of the Loan and Mercantile Agency Company shall be accepted. No doubt this cempany are actuated by a desire to see the work undertaken, as much for their own interest a*s for thai of the public. Some persons take exception to the fixing of a minimum price at which a Pumping Association is asked to purchase the Bright Smile pumping plant and shaft. s -iJCfoSbubttfeis was a.cos|lj^undertaking, and fe\r will be prepared to dispute the statement that the minimum referred to (£6000) is much below what the shaft and pump cost But an association, if formed, will have to deal^more with the actual worth than the cost; and that will depend very much \ipon the condition of the shaft after the soaking it has been subjected to, and the capability of (he pump to perform not only the work required by present operations, but in the future, wken lower levels are opened. No doubt the delegates of the different mines will consider these points, and act accordingly. The other scheme which was .to have been submitted by Mr Eichards has been shelved for a time, and until the proposals of the mortgagees of the Bright Smile have been fully considered it is not likely that Captain Bic'iards' scheme will be investigated. If practicable the use of a shaft already sunk, and machinery erected is most desirable.

It is something to be noticed that during these dull times nearly £5000 hare been paid in dividends since the beginning of this month. As usual the Queen of Beauty has figured prominently in this ■list, the fortnightly divide this week 'having been £100 per share. The City of. London, and Cure also were included in. the dividend list, and there is some shew of probability that: the former will be able to repeat the gratifying experiment. Tributers have not been altogether unlucky, some .excellent yields having been forthcoming of late. .