77

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with the new development scheme. The extension of the water-race is about completed, and the sinking of the main shaft from below No. 5 level is being carried on ; also other development-works on various lodes. The Imperial Gold-mining Company is still endeavouring to secure ore of a payable quality, and it is said there is a prospect of this being obtained. A considerable quantity of good work has been done on this property, but the owners have received nothing up to the present for their labour and capital. The Waverley is being worked with about eight men in conjunction with the Comstock, but the work has not proceeded far enough to enable one to express an opinion as to whether the expectations held with regard to the quality of the reef are likely to be realised. There are a few other claims in this part of the district in existence, but these are either under protection or being prospected with a very small number of men. There is one small river claim on the Ohinemuri, taken up with a view to treating the tailings in the river which have escaped from the various batteries. Whether this will turn out a successful venture remains to be seen. It is doubtful if the results will prove remunerative, as only a very small percentage of gold is now lost in the tailings, so small that the tailings are not worth saving. The only chance of obtaining anything lies in the deposits of the tailings that may have escaped prior to the cyanide treatment being adopted, but in those days only smali quantities of ore were treated as compared to what is now going through the reduction-works. The Komata Reefs Company have again commenced crushing, and the initial return was £1,560 of gold from 980 tons of ore. This is not up to what was expected; probably there will be an improvement. The Hikutaia Syndicate properties have only been partially worked during the year. The test plant erected has not so far satisfied the owners that a large expenditure of capital is warranted on their property. The future is under consideration, and it is stated a considerable capital, will be provided to thoroughly develop these properties. Maratoto Gold-mining Company. —This company's property has not so far proved remunerative, although when the battery was erected it was anticipated four returns would be made. This company has been reconstructed with a view to pushing on its development. The Alpha is another mine which so far has proved disappointing. The battery erected is doing nothing. Thames. The Thames-Hauraki Company, which was taken over by the Standard Exploration Company some twelve months ago, had to apply to the Warden's Court for protection; and, as the other companies working had applied to the Drainage Board to work at lesser depth than 500 ft., there was no reason for refusing this company the concession asked for, to enable the arrangements in progress with the Standard Company being completed. Some hitch, however, arose in London owing to another company there with which the Standard was connected finding itself in difficulties, which evidently prevented the assignment to the Standard being registered ; and the ThamesHauraki found itself still holding the license without sufficient capital to continue sinking and pumping, the result being the protection referred to. The drainage assessment seems unsatisfactory. In a recent appeal from the assessment to the Warden's Court, it appeared, though the Drainage Board had existed since January, 1886, it had not yet arrived at any fixed principle for making the assessment, even with the assistance of assessors. It was deposed that the assessment was made by mutual consent. In the event of a company objecting to the assessment, the Board was not in a position to explain how it came to assess that particular company in the amount it had. Until the Board devises some practicable method of making this assessment it is likely to find itself in this peculiar position. The principle of allowing companies to intimate to the Board the depth each desires to work makes the task of assessment much more difficult than would be the case if the Board fixed the depth at the maximum which its pump can drain. Something of the kind is necessary to protect mine owners who seek to sink deeper from becoming prospectors for others who desire to lie by and reap the benefit of the discoveries without contributing towards the same. New Moanataiari Gold-mining Company (Limited). —This company's ground has been mostly manned by tributers, only an average of nine wages-men being employed. In the Cambria section the reef was driven on up to its junction with the Bed Queen leader, and a small block of ground stoped. Payable ore was here met with and 70 tons taken out, which on treatment yielded £203, but the ore gradually decreasing in value work was stopped. In the Eeuben Pass section considerable work was done in driving a crosscut from the Reuben Parr reef to the hanging-wall of the Golden Age reef, but nothing payable was found. The Point Bussell level has been extended for 145 ft. through a good class of country, but nothing has been discovered. The tributers (fifty-six) have done fairly well. I understand that an amalgamation of this company, Kuranui-Caledonian, and May Queen has been effected. Kuranui-Caledonian Gold-mining Company (Limited). —Fifty tributers have been employed in this mine on the sliding-scale system. These men have confined themselves to the small reefs and leaders, and many of them have done well. There are several large reefs in the mine, but the ore is of too low a grade to pay tributers, so nothing has been done on them. The men engaged seem well satisfied with the system on which the tributes are let. Waiotahi Gold-mining Company (Limited).— -This mine has been paying dividends regularly for the last twenty-three years, during which time £37,800 has been divided. The mine, which is still looking well, has been carefully and systematically worked under the management of Mr. J. E, Smith. It is a great pity that we have not a few more such mines in the district.