WAIRARAPA REEFS.

Wairarapa Daily Times, Volume 2, Issue 607, 29 October 1880, Page 2

WAIRARAPA REEFS.

To the Editor of the Wairakafa Daily. Sir,—lt is iiliout two months since the prospectus of the Caledonian lJuldmilling Company, Limited (Brandon's claim), was first issued, and yet, stran«e to Bay, the applications for shares from Tasmania exceed by hundreds the number received fmrn the whole of the North Island, whilst several thousand have been disposed of here! If the reef were worthless, we could well understand the laxity in taking up shares, but that gmind payable mine should find, little supWt from reud.en.tß of the surrounding districts is bejiqnd our entire comprehension • except there be some truth in the reports that have reached us to the effect iliat many are writing Qnt ji fl w lmlc | u . ''eiy'3o.itlie«rotj|idbefurei(puiviiwfor mm, ' '

Although we can scarcely credit the veracity of auch rumors, wo think it advisable to disabuse the minds of the public on. that point by the statement of a few facts.

According to advices received, the machinery may be expected about the middle of December, The site for it is already prepared, and there are over 200 tons of stone ready for crushing. Other operations will commence as soon as the share list is closed, but if ■» a.nffi o j en t number of shares have not hep diapoaed "fbytlwHfflatheranoJiineiyOTWeajthe m Mil be worked privately. If the latter- course has to be adopted, all applications for shares will be cancelled, and goodoare taken that the people of the district shall in no way benefit by the working of the mine, as men, provisions tools, and every other requisite will be sent from here, even though the cost be greater, for the capitalists who will then take the matter in hand are determined that their ip.qn.py shall not circulate amongst a coinmuiiity who are so blind fo their own interests—a result that they will have themselves to thank for, unless the penny wiso and pound foolish policy ut perceived and thrown aA before it is too late,

Say wha.t they will, times are not so bad aj to. prevent almost every man in the district from taking 25 shares, at least, lhe first two payments are the "UinQonsideration, the liability for calls being a mere bagatelle, and the required number will thus be speedily obtained. lo claim uuselfish motives in sending note of warning would be contrary "to truth, for we of course desire to be able to announce the successful floating of the Ooinpny, but, at tlio same time, uiir chief aim 13 to Qi)rre.s lhe erroneous idea W serins tq have, gut abroad on the uiiui{ u.reyi.m.sly alluded tu. Par years mwe have liwd (do term "Sleepy Mmi applied tu the Wellington hi* VluQ'i Jt now remains wilh the people tJ pmvo iiii.linputably that (ho assertion is H jjl'iiss libel ut, ..ii their spirit of enterprise.

J'lmnkiii» you, sir, for the sj.ace kindly granted us, and trusting shortly to | wvo favorable ie r ,its froi|| Oreytown, Qa.rtj)iK Ifeatlmrsuiii, and » ajlingtuu agents.

We are, Ac, DlluOlSifc Co., Brokers of i,h e Qm> m Dunediii, 2oth Oct., 1880.