THE SHAREMARKET.

Thames Star, Volume XXIX, Issue 8605, 9 March 1897, Page 2

THE SHAREMARKET.

An improved tone pervades the share market, and there are buyers of low-priced stocks. The chief feature, is the smart rise whioh has taken place in lonas, situated at the Great Barrier. These shares sold in thousands at 2d. and 3d., and to-day, at the noon call, Bales were i*ccorded at Is. 9d. Some of the shares nre well hold, and the show iii the mine, which I referred to a few days ago, is a thorough genuine one. I ALBURNIA EAST.

The development of the footwall Vale of Avoca reef is being vigorously carried on, and since the first breaking down of the reef took place a rery large amount of the same quartz body has been stripped and broken down. Gold was very freely seen, whilst from amongst the general ore a few pounds of very fair stone was selected. The advancement of the drive north upon the reef will henceforward be the chief point of development. Of course the other works in hand will also be proceeded with. GLOUCESTER (Karaka) Work in this English company's mine is being steadily pushed ahead, but at present it is only of an exploratory nature, pending instructions from the London Advisory Board to proceed with the sinking of a main shaft at a point where the whole of the wellknown auriferous lodes traverse and which yielded up large deposits of gold in the past. The instructions to proceed with this work are expected daily. ORION (Purn.) The exploiting operations are being vigorously proceeded with in this mine, but considerable difficulty has been experienced in opening the reef near the north boundary, owing to the very heavy subsoil which exists at thi3 point, tnd which couipels the work of trenching to be carried on at a considerable depth, so as to keep the solid country in view. Some very encouraging loose prospects of gold have been obtained, which the manager is of opinion lias shed from the reef somewhere in this locality. OCCIDENTAL.

The chiei point of development in this mine at the present is that directed to the extension of the crosscut in the North Star section, which has for its purpose the intersection of the whole of the lode system, but the chief point to which this crosscut is arriving is the interception of the celebrated Loyalty reef prior to its junction with the Hague-Smith crosslode. But prior to meeting with this, the Occidental lode should be passed through. ' Both quartz bodies are reputed for # being gold producers of considerable importance in the past, and if a payable class of ore is met with in either of the lodes mentioned, it is anticipated that large blocks will be available to operate upon. The stopes in operation upon No. 1 leader although small, is still productive of a fair grade ore.

OMAHU GOLDFIELD. A fine sample of sulphide ore was ou view to-day at Mr \V. S. Styak's o!fice, Exchange Buildings, Albert street. The ore waa brought into town by Messrs Laurie and Stevenson f om their mine known as the Energetic, situated iv the above district, and is without exception splendid looking quartz, highly charged with sulphides and silicious matter. It also carries a spleadid wavy grain very similar in character to the rich ores met with in the Up-Country districts. Men are now engaged opening up the reef so that in a few days the full dimensions and general value of the ore will be determined. Mr Laurie informs me a fair prospect of gold can be obtained by pounding and washing off, and a large parcel of the ore is now undergoing treatment by assay the result of which will come to hand in the court* of % day or so.