MINING NEWS.

New Zealand Graphic, Volume XV, Issue XVI, 19 October 1895, Page 492

MINING NEWS.

IN response to th© numerous requests received from readers at a distance, who are now largely interested in our goldtie ds, we have decided to furnish in future issues of the New Zealand Graphic the latest mining news. We feel that no apology is required for this innovation, for the mining industry lias now a-sumed such proportions that the majority of our readers are either directly or indirectly interested in our goldfields. It is intended that the mining columns of the Graphic shall become a special medium for imparting information on all matters connected with this newly revived industry, and it is hoped that they will also be an advertising medium for the same.

There can be little doubt now that the revival in the mining industry is not a mere evar.e cent boom,but the genuine outcome of the systematic development of several now famous mines. El-ewhere will be found the returns obtained last month from the principal mines, which speak volumes for the future possibilities of our goldfields now that confidence has been revived. with the result that capital is forthcoming to work the auriferous ores which abound in the Thames and Hauraki districts. Foreign capital is now flowing in to work the mines in a way it has never done before, a guarantee that the mines taken over by English syndicates will be thoroughly developed. Of the results in the future we have no fear. The magnificent returns obtained nearly a quarter of a century ago, with the expenditure, comparatively speaking, of but a small amount of capital in a restricted area, augurs well fur what may be expected as the outcome of the present revival of interest, for prospectors are now pushing into districts hitherto untouched, being encouraged to do so by the knowledge that money will be forthcoming to work any genuine venture. It is true that new companies are being floated daily, but as these are distributed over a wide area of ground, and as each one starts with a good reserve capital in hand, it simply means that every new company floated becomes a prospecting association, with this advantage, that insteid of inen wandering, perhaps some what aimlessly over the country, searching for pockets, a certain number are located on fixed areas, and are backed with sufficient capital to systematically test each holding. Apparently the public have decided that systematic mining will pay a better rate of interest tor money than can be secured on fixed deposit’s at the present time in banks. Of course it takes time to see what the new mines are really worth, but the results of the operations in the older companies for the past month were most encouraging, the Waihi, May Queen, and Kaipai-Vermont mines having all had record returns. When the new English companies get properly to work with large crushing plants economically worked, there can be little doubt but that satisfactory results will be obtained.

Cable advices received from London are of a very encouraging nature, pointing as they do to the probable early floating of mines situated at Coromandel. Waitekauri, Waihi, and Kuaotunu. Within the last week or two the Gladstone, Grand Junction, and Victor mines have been floated in London, and negotiations with regard to several other properties are also approaching completion. Meanwhile, the energy of individual prospectors results in fresh discoveries in new districts, all of which go to prove that the payable reefs are spread over a large area, and point to the permanency of the mining industry. It i& on account of all these facts that arrangements have been made for supplying through the columns of the Graphic the latest goldmining news, and with the most complete and trustworthy information, whilst special attention will be paid to the latest discoveries in all centres, and to the newest claims for public patronage. Th® miner ami the investor will each find clearly, yet concisely recorded, important and reliable information respecting the localities and transactions in which they are interested, whilst it is also desired to make the paper a medium for giving publicity to all oflicial notices of importtance to the mining interest.

Recent scientific discoveries in gold saving are of the utmost importance to the mining industry, therefore due attention will be given to these and other topics bearing on the economic development of our goldfields. The results of the latest scientific and practical research will be given, with a view to drawing attention to their applicability to local ventures. In fact, it isotir intention to bestow on the consideration of all matters affecting the mining interest the attention which i»s importance demands; and at the same time, whilst no etlorts will be spared to render these columns a faithful record of passing events in the mining centres, requisite facilities will be atlorded to advertisers, and those connected wi hour mining interests will find

the columns of the Graphic journal a most desirable medium for their announcements.

The Stock Exchange has been well patronised during the past week, and the business transacted has presented the peculiar feature that while low priced shares were almost entirely neglected, those commanding higher price with few exceptions maintained their value, and in several instances steady advances were recorded. A new feature was introduced this weuk in the shape of the opening of what is termed a Free Exchange, at which calls were made publicly three times a day in the presence of large crowds of specu'utors. Three firms are also holding auction sales of scrip almost daily, so that there are ample avenues for transacting business in mining stock. On the Exchange itself there are now many outside brokers who have not yet joined the Association, but it is rumoured that several gentlemen are likely to be admitted shortly. Shou'd this be the case, of course it will have the advantage of transactions being reported, which at present are not heard of, as the outside brokers do not, as a rule, issue lists. The principal sensation during the week was the fluctuations in the value of Bunker’s Hill shares, which advanced from 7s 6d to 12s, and then receded to 9s 3d. This was due to the cutting of a leader in the mine, which showed gold freely. The find was important as tending to show' that should the famous Hauraki reef be cut in the present drive, it will at all events be still in a gold-bearing channel of country. Shares in the Welcome Find Mine which adjoins participated in the advance. The fact that the sale of the Waihi South mine was supposed to have been completed caused those shares to ri*e on Satuiday, and for a similar reason May Queen shares were well held throughout the week. News from Waiomo is to the effect that the English expert is confident of successfully treating the ore from the Monowai district. Should this prove to be the case, it wi.l mean a great deal for that section of our goldfields,, as the reefs are large, and give good assay returns. Although many new Companies have already been floated, the rush for new ground is as keen as ever. At Kuaotunu. miners are eagerly awaiting the opening up of the blocks of land belonging to the Kauri Timber Company, and at Whau Whau pegging out is proceeding bri-kly. Another rush took place at Coromandel to peg out the Karaka Block, which is said to be within the mining area. It is evident from this that the revival in the mining industry bids fair to be of a permanent character, and a proof of this is the fact that unless a holding comprises 50 or 100 acres it is not readily floated, the aim of the investors being apparently to secure areas large enough to warrant the erection of big crushing plants to economically’ treat ore in great quantities. One of the bast signs of the permanent nature of the mining now being done is the fact that t here is a general tendency to unite small holdings and form strong companies to work the combined areas.