Shares and MINING

Observer, Volume XI, Issue 750, 13 May 1893, Page 13

Shares and MINING

By Obadi&h, the Scribe,

Just fancy ! millions o&rtons of ore in sight ! Thns saith a Wellington correspondent. Second-sight, of course? With a considerable amount of whisky therein ! Assay 96 per cent of pure iron. Silver lode underneath. Limestone to right, coke to -the left. Furnaces sprouting. All on the Man-a-watu line. In fact they will want no man at all, from the above, as in all prbbability horse-shoes and bariron will be found ready for export. Such things are only to be found in or near our capital city of smells and stinks. The beards of Gardsherry just having had notice of this wonderful find have given notice to their hands that their services are to be dispensed with on a date to be given, as it will be impossible to compete with the MaEjawatu experts and their 9(3 per cent of pure iron with silver subsoil.

Waihi. — Mine sold their 25,000 tons of tailings value 32s per ton for .£5,000. If this is a good buy then it is a bad sell. Thirty-seven thousand pounds' worth of bullion for ,£5,000 cash, and the cost of a plant and royalty, leaves a very big margin if the cost of treatment as 3tated by the Cassell expert is to be depended on. Someone has blundered big, and time will tell who.

Silverton. — Not satisfactory. Bullion saving going on, percentage saved being small. Must be improved on, or shut up plant and try other process or Pearson.

Ceown. — Babylonish tow.er and other machinery with stone-cracker on summit just about finished. Starting point June the onoe, year not given. Reduced hands. Have lots of rock ready for reduction and dividends.

Waitekatjkj. — A philanthropic mmmg 1 speculator has visited Lawrie's ; offered to erect the plant for one half of mine, on condition the owners find the cash. Understand this liberal offer not likely to be accepted, as the last time this sort of thing was done battery collared the lot and left nothing to stockholders save the debts of the company.

Pride op Karaka. — "Breaking down lode. Average width four inches. Showing gold freely. Will soon have to erect plant to treat this body of stone.

North Star. — Twenty-five or thirtyfive tons — which is it ? Manager or telegraphist made a ' bull ' of a blunder which is likely to cause trouble in the camp.

Alburnta. — Treated ten tons by Lurick concentrator. Saved 97v per cent. This ought to be considered a success. What did the ordinary battery save from same sample of rock ? And what's the difference in cost ? Shares on the decline. Symptoms of consumption setting in, and the talent left lamenting.

Orlando. — Reporters seem to have taken quite a fancy to this mine and report good-looking sandstone, but nothing payable. Pleasant news for owners. Don't want to be told so often, as the slight reminders given by call-making is an evidence of the fact. Suppose this sort of news must be considered a successful oper ation for the benefit of Tom ?

Mat Queen. — Saving all the ribs for crushing 1 dirt. What a pity could not save balance of skeleton for same purpose, as evidently the whole carcase is wanted.

Deep Levels. — Still in the same place and likely to be, according to the present outlook, for some time to come.

KuAOTUNtT. — The heavy hand of the Abbott is to be found on Pumpkin Flat, or suoh portions thereof as the friend of the needy let him collar for cash advanced. Stamps," stumps, cans, and pans, on a future occasion.

Try Fluke. — According to Luminary, cyanided 672 ozs of tailings, (getting rather particular as to weight now) for a return of 20| ozs bullion. This with 166 ozs from the rest of the plant makes 36S ozs. Glad to hear it ! Just doubtful the Bank will buy it at those figures. Return, a good payable one, and shows what an amount of bullion has been lost in this district by the non-saving of tailings in some of the mines in the early days.

Great Mbbcury. — started with rook from Fluke reef, which, if not rich, promises to be payable. Better expected from other part of the mine. Bed Mekcttry. — Manager, as usual, looking well after contractors. Seems to have been specially invented for that purpose; and forgets that there is such a thing as a shareholder or a call-payer in existence. Main cross-cut advancing 25 feet per week. Contractor therefore must have a good thing on hand.