OHINEMURI.

Waikato Times, Volume XXXI, Issue 2496, 10 July 1888, Page 2

OHINEMURI.

Mining Summary.—With the advent o£ spring, matters mining appear to be taking a decided .step forward. Both at Marototo, Karangahake, Waihi and Waitekauri there is a high probability that more capital will bo expended, and, what is better, that something will be got for the money. We do not merely want foreign money to be expended here; we want also to see that investors are recouped, for their outlay. The shortsighted fallacy of spending money for the sake of making it "go round " does not need to be expounded here. It has been proclaimed from the housetops. To commence with Marototo, the Arizona claim has been all but placed in Sydney by a number of gentlemen headed by Messrs Qiiayle and Jvorry, the prico paid to the local owners being just under £2000. At Karangahake, the Crown is likely to be the next claim floated, and scrip is already in demand. The prospects of this district are also greatly improved by the erection of the Parkes' furnace here. At Waihi, Messrs W. P. Wilson, of Broken Hills, accompanied by Mr J. McCcsh Clark, has been inspecting the Martha and Silverton mines with a view to purchase. As these are bona ride properties with good records and firstclass prospects, they should pay splendidly the investment of capital judiciously expended. The Waihi Gold Mining Couipauy's ground is being thoroughly opened up, and in the Rosemcnt tunnel some grand ore is being obtained. The hopes of many people here and at Sydney are centred in Waitekauri, Here there have been no less than four splendid mining properties sold and floated during the past few months. The Jubilee stands first on the list with a capital of £100,000, Mr Edward Kersey Cooper being the New Zealand promoter, and the mine being placed in London. The ton tons ore sent home are said to have realised in the gross £500. Mr Cooper should be In New Zealand about 20th July, having left London in June. Mr Witheford has also succeeded in floating the Mariposa claim at Waitekauri, and the old Waitekauvi'e clnim (which daring the past few years has yielded over £82,000 worth of gold), lias been sold for £8000, including the tramway, water-race and battery. The Saxon (late Eclipse) is another good property which stands every chance of being floated. It will most probably be bought by the Mariposa people, as it is really the key of their ground, containing all the workings and a large portion o£ the reef.