Shares and MININC

Observer, Volume XV, Issue 892, 1 February 1896, Page 10

Shares and MININC

By Obadiah, the Younger,

TO COUNTRY SUBSCRIBERS. I can recommend the following sharebrokers tothoae of my subscribers and readers in the country and at a distance who are investing in ahares and who wish to have their commissions executed by reliable and trustworthy men: —

James Reid, Insurance Buildings John Churton, 106 and 107, Victoria Arcade JQ. A. Levy, 26, Coombes' Arcade J. Aleck Walker, 27, Shortland-street Joshua Jackson, Stock Exchange, Auckland W. A. Prime, 25, Insurance Buildings. Allen & Co., Wyndham- street. J. M. Shera, Seldon Chambers, 97, Queen-st. W. H. Shakespear & Co., Queen-street. J. H. Colwill, Queen-strpet (opposite 8.N.Z.) R. Burns, 306 & 307, Victoria Arcade. R. Woodhouse, 306 & 307, Victoria Arcade. D. E. Clerk, 37, Insurance Buildings. Alfred H. Gentil, Kapanga Rd., Coromandel. Ryan and Smith, 109, Queen-st., Auckland V. J. Lamer, 35, N.Z. Insurance Buildings. Morris & Edwards, B.N.Z. Buildings, Auckland, and Wharf-street, Faeroa. J. M. Dargaville, Chamber of Mines. Richards <fe Angus, Queen-street. Jos. Smales, 7, Govt. Insurance Buildings. H. Ellison, No. 6, Coombes' Arcade. J. Me rea Brigham, 111, Victoria Arcade. Aitken Carrick*, rihortland-street.

It has been a very dead week on the Exchange. There has been little or no speculation, and most stocks have dropped a trifle in value, showing that tbe bed rock of the ' slump ' had not been reached. Even the Waihi-Silverton stock failed to maintain its value, though the machinery is now approaching completion and the first crushing will be underweigh within the next few weeks. News from London is of a more reassuring character. There is every prospect that the market will be prepared for and will absorb quite a number of Auckland properties within the next few weeks. This is good news, and I sincerely hope to see it realised. The successful floating in London of a few such, mines as the Try Fluke, Talisman and May Queen would do the local market an immense amount of good, and would put new heart into speculators. It cannot be ex;>ected that all the properties sent to Engand will be floated, and neither can it be expected that all the mines in which local people hold shares will become dividendpaying. Indeed, not to put too fine a point on it, after three months the majority of the companies floated with such a flourish of trumpets will not be heard of again except in the way of liquidation.

Queen of Beauty. — No time is to be lost in starting work on this property again. It will be a glad day for the Thames when they see the winding plant over the old Queen of Beauty shaft again. Victob-Waihou. — Great expectations formed of the property at the first ordinary general meeting in London. It is to be hoped the shareholders will not be disappointed. Mr Seaver has been in South Africa seeing if there are any new wrinkles to be picked up in connection with the cyanide process. ■Waihi Proprietary. — Boring has stopped at 330 feet from the surface — rock too hard to let it get any ' f orrarder.' Bore penetrated some purple and brown country— this was the best. Now, it is proposed to put down a permanent shaft near the Waihi Company's boundary, and the management are satisfied they will get the Welcome reef if they don't get the Martha. Kapanga. — Shaft is being sunk to a depth of 1000 feet owing to good prospects from boring, so that Coromandel is to have mining at very low levels. Reef cut through in the bore-hole will be cut in an- , other 60 feet at 930 feet. Victoria. — The new reef is still looking better, and stock is fairly firm. This reef promises to be a good thing for the May Queen people, into whose property it strikes. Carnage. — Large roots of trees are preventing the manager from getting out the gold. Terrible. Wynyakdton. — Shaft is in a sandstone country at 72 feet, with good mineral indications. This augurs well for gold. May Queen. — Negotiations towards the flotation in London are going on prosper* ing. So a cable tells the directors. But were we not given to understand that the May Queen was floated months ago. Only underwritten again, eh ?

Wahh-Silverton. — Getting ready for the start, which will take place within the next week or two. Waihi-Mint. — Money returned to the purchasers of promoters' shares. Is this property not next door to the Monument ? But no * share money will be returned from the Monument. - Grace Dabling. — They have still a fonr feet reef in hand, and claim to see gold frequently, but if they have gold-bearing ore to crush why do they not crush it? Why is the battery still standing idle ? Teutonic. — The full distance of three hundred feet has been driven without meeting with any reef. This will be the experience of a good many companies. Now they are going to drive at a lower level.. Save your money. Mangakara. — I hear that arrangements have been completed for an amalgamation of the Mangakara with adjacent sections, to make in all 225 acres. The northern section will comprise the Mangakara, the Mangakara Surplus, and the Right Bower, which have been included in one special claim. The southern section comprises the Band of Hope, the Golden Gate, the I Golden Cross, and the Great Extended I applied for also as a special claim. The Company, it is officially stated, have sef cured the whole of the water rights of the Western Waitekauri.ineluding the battery, nine head of stamps, two berdans, waterrace and tramway. Hauraki No. 2. — Splendid five-feet reef in hand. The only thing about it left to be desired is gold. Aukora. — Eleven tons have been taken to the Thames foe treatment. The mine is looking well, and this stuff should crash very profitably. Leading Wind. — This property passed through the Court at Coromandel on Friday, so that operations ought to be commenced at once. The Leading Wind starts with good prospects. There are at least three gold bearing reefs on the property, and the company having already acquired a serviceable little battery, with good water rights, the Leading Wind will soon be a reproductive mine, with every prospect of speedily paying dividends. Imperial. — Two crosscutsare to be driven in the United section. This is where the best prospect of getting gold lies. Maobi Dream. — Still dreaming. Wake up. Puru Consolidated. — Chairman Tom Morrin travelled from Auckland to see thtm breaking down two barrow-loads of quartz, in which colours of gold were found. ' Ahem ! There are some things that do not stimulate the demand for shares. Young New Zealand. — So they have cut an unsuspected reef showing gold freely. But why don't they make some effort to get crushing power? That is what is wanted there. Golden Point. — Directors' fees and travelling expenses, £103 3s 6d. Is this gold mining ? Monowai. — That process still hangs fire. Some little improvements were being tried this week, but the people in the know seem to be none too confident. Alburnia. — The sale in London has been fixed by a deposit of £1000. This is good news. Moss Davis will get more credit by-and-bye from the Alburnia than from the Waihi Proprietary. Bunker's Hill. — What has become of the recent outburst of renewed confidence ? May Queen. — Hayes's leader at the No. 6 level in the Saxon section is being opened up east and west. This is an important work. Talisman. — Where art thou, where art thou, beam of light ? Cable and ask Byles. The time for which the property was under offer having expired, the directors have refused to renew it on the terms asked, and vigorous work is to be commenced at once. The directors are appointing a battery manager, and laying in a stock of firewood, so that we shall soon see what the Talisman is capable- of.