AUCKLAND MINING NEWS.

West Coast Times, Issue 10341, 3 August 1896, Page 4

AUCKLAND MINING NEWS.

Auckland, July 27. News has been received that the sale of the Central of Waitekauri, in London, hive practically been completed. Shares have advanced in consequence. A cable was received this morning from London stating that the purchase money for the Central Pilot -will be paid over upon receipt of information to the < ffect that the transfer of the property and deeds for same have been deposited in the Bank of the purchasing company. The directors have determined to transfer the property and deposit the deed forthwith. The area of the Central Pilot is 209 acres situated next the Waitekauri and Grafton United properties. Under the terms of sale the Central shareholders will receive about Is cash and 100 shares paid up to 20s for every 200 at present held. another cable message states that the Sphinx property at Owhurod has been floated upon the terms already published. A sum of £4000 is to be spent on prospecting work. The African-Austral Syndicate is stated on good authority to have acquired from Mr Seaver a considerable interest in the option of flotation of the Broken Hills (Tairua). A cablegram has been received stating that the Waitekauri King Mine has been sold, subject to inspection, on the follow ing terms: — A company to be formed ot £J.50,0L'0, the vendors to receive £1000 it, cash and 40,000 shares fully paid np to £1 ; a working capital of £25,000 is also provided for. The crushing from the Waihi-Silvertou Mine shows an improvement this moi ih upon the previous yield. Since the last crushing 1076 tons ore have been treato.' fora return of 9670zs gold, valued v £2417. The following notice was posted oi the exchange yesterday :— A cablegram has been received from Mr H. Alan Scott notifying the completion of the sale of the Rising Sun and lnglewood properties. The terms are £1000 cash. and one- third shares fully paid up to £l The working capital is to be £25,000. Another cable me^sige receive. I i day states that the Sphinx property m Owharoa has been floated upon the term already stated, and £4000 is to be spei, on prospecting work. The Waitekauri United Company. London, has remitted £2000 with whicto commence operations. The Ptolemy Company, whoso mini ndjoins the Luck at Last, WhangamatL and comprising 219 acres, has received aj offer by cable from London to flcafc .. company on good terms — £300 deposit t> be paid do\wi, £500 to be spent forth* ■:". in ilcvolopiiig property. The Lady Glasgow (Kuaotouu) dirtc tors have accepted the following offer fo;

flotation :— Capital, £100,000 in £1 shares ; the present shareholdors to receive £1250 cash and 25,000 paid-up shares ; working capital. £20 000.

An offer has also been received to float the Albion mine, Coromandel. Cash payments on account of purchase have been declared as follows : - Alburnia, 2s 3d ; Hazelbank, Is o£d ; Pride of Tokatea, 3s 6d.