Mining Review of the Week.

Thames Star, Volume X, Issue 3419, 6 December 1879, Page 3

Mining Review of the Week.

Mining matters have improved bo much lately that we have actually been able to raise two dividends, the result of the Alburnia company's months crushing, having given 17« 6d per share for distribution among the shareholders, while the Waiotahi ha? declared one of 2s 6d. The Albnrnia mine has continued without particular change, though tho yield of specimen stone has not been so large recently. During the week, men have been making preparations to extend the 160 feet level westward, to cut the downward continuation of the shot of gold. About 60 feet will require to be driven before the point is reached where the gold should be obtained. Tho Moanatairi Company will in all probability declare a dividend next week, and should the Alburnia- pay another about Christmas, the unexpected circulation'of such a large amount of cash will give speculators, and others who dabble in mining stocks, a little surplus money for the holidays. One event of the week has been the annual meeting of the Queen of Beauty Company. This company, which had been hibernating for some months, some time since decided to renew operations, and preparations are now being made. The company, though it has been in a state of inanition, is on the right side, of the ledger, having a credit balance of £1506. In a few months it is expected to have the works in full swing, when from the prospects obtained at the present bottom level, the shareholders hope to enjoy an era of golden prosperity. The proposal adopted by the County Council the-other day re the Ohinemuri gold duty was only fair. It is not just that the gold duty raised at Ohinemuri should be spent for the benefit of mining operations 30 miles away, as was the case when the Big Pump was partially kept goin.' with County gold duty. The new arrangement gives 30 per cent, of the gold duty for the encouragement of prospecting in the Ohinemuri Biding. Care should be taken that the money will .not be thrown away, but that prospectors only be paid in proportion to the amount of prospecting work they do.