The Yellow Dirt Industry.

Observer, Volume X, Issue 603, 24 January 1891, Page 7

The Yellow Dirt Industry.

(By Obadiah, the Sceibe.)

New Moanatairi mine is producing first-class stone, with specimens, from different reefs ; shares likely to rise further, so holders should not let go just yet. May Queen has improved slightly, and shares ought also to advance soon. Looking into old workings has had a good effect. Trenton is paying its way, but buyers seem funky. Cambria in a fog ; the Mystery Man has given no sign. Saxon continues in a weakly condition, and is now working on an overdraft. Shareholders ought to veto this sort of thing. Sylvia has started crushing with the finest plant ever erected on Auckland Goldfields. If the mine is as good as the machinery, it will be a splendid property. Norfolk is still paying expenses. Waihi. — The Grand Mogul is ooming out from London to improve the valae of the reef by looking at it. Meantime, I expect the shares to recede ; they cannot maintain present price. Silverton mine, in Waihi district, is a good property, but will never be able to pay divs. until the shareholders fork out the price of a battery. At Karangahake they have come to the conclusion that the Cassel plant and Crown grinders are erected in the wrong place, and they will have to be removed. Nothing like British talent for costly blunders of this sort. From Kuaotunu I hear that several mines are giving better results. There will soon be crushing power in abundance, while there is neither supply of ore nor roads to transport it over. The l&ts tr.'al of five tons from the Bed Mercury mine shows the ore to be w onh over 2oz per ton. The Try Fluke is also crushing better. No doubt there are some good mines in this district ; but there are also a lot of wild cats to be avoided.