Shares and MINING

Observer, Volume XI, Issue 752, 27 May 1893, Page 18

Shares and MINING

By Obaduh, the Scribe

Thirty feet of stone worth .£l2 per ton and sold to the Melbourne Bank busters. What will the poor Kotb.sch.ild family do now?— those lovers of mercurial holdings who at prespnt boss the whole creation in the production of this metal. Twelve pounds per ton — 203 working expenses, eleven pounds profit — and we have lost it ! This is ' even more bad ' and more of it than the Austrian invasion • of our gumfields, which promises to cause trouble, as it is evident our gu miners have not yet got educated up to the universal brotherhood business that some are preaching about.

A controversy on microscopical goldsaving is raging fast and furious on the Thames. Some of our experts stick to the old methods of platea and blankets, believing they can save more thus than by any other pr. ces?. The advocates of the old system intend dying hard, but die they must. If so little gold has been lost as some of those writer-* would have us believe, how is it they are so anxioua to peg out the foreshore and to write glowing reports as to the welfare therein contained in the tailings, smiles, and mill refuse? Surely if the wealth referred to is there, and I belieVe it is, it has come from the batteries and not, Topsy-like, ' grbwed.' The year's return will show there has been considerable increase from Ohinemuri and Coromandel di&triots, and rather a large decrease from Lower Thames. This is much to be regretted as the reduction at the Thames is felt all over oar provincial district, in the reduced spending-power of the workers and owners of our mines.

I see by the American press that our Dr. Sciidell, with letters of introduction from the Governor and a copy of the mines report for last year, has been showing the Yanks what a wonderful place and people we are— and he greatest of all ! They must be rather astonished at his leavingsuch a country. But he is only on a visit, you know. As manager of one of the largest mines in the colony, he is seeking information. He evidently doesn't know the change of ownership, so it is as well to keep him in the dark for the present, until such time as the Governor's introduction is played out.

The Glasgow owners of the Crown mine, Karangahake, in meeting assembled have agreed to use the watering-pot pretty freely, having increased the capital by 35,000 new shares. Colonial vendorsseemtothink they might have been consulted in this matter. Or that increases might have bean avoided altogether. As the crashing plant will start Ist June, weather permitting, and, from prospects, ought soon to produce bullion to pay off present liabilities, it is evident this will not suit the Cassell Company as they are getting 20 per cent of any increase in capital, and therefore seem anxious to increase the number of shares instead of going without a dividend for a month or two, or do a bit of financing. This Company must te well represented on the Crown Board, as from the firßt they have seemed to have everything their own way and the colonial shareholders and vendors have never been consulted, and mining don't pay and no wonder.

I see the shareholders of our Mount Morgan have decided to wind-up. The wonderful reports written on the Owera mine have been such as would have killed even a better property.

Kapunga. — Crushed one ton of rock for 2250zs of gold. A few tons of such rook would put heart into the owners of this much-reformed company.

Patent grinders: Alexander the Great is erecting the latest in this line. The Otts crusher is to supersede stamps and other rock reducers. The Ashcroft, the Askem, Globe, Lamberton, and some others all promised the same. But' 5 where are they gone ? — to the smelting-pot, or are re-incarnated and find themselves limegrinders in different localties.

Albtjrnia. — Taken possession of Saxon mill and intend doing their own crushing and grinding to orders.

St. Hippo. — Cleaned up their long tunnel, started driving-, got some gold. Want a lot to make up for lost timfr.