COROMANDEL.

New Zealand Graphic, Volume XV, Issue XXI, 23 November 1895, Page 653

COROMANDEL.

BUNKER'S HILL. Shares in this Company have fluctuated remarkably in value during the last lew weeks, running from 7s 6d to 18s 31 in a fortnight, and then falling in one day from 14s 6d to 10s. The latter figure was reached at noon on Wednesday, when advantage was taken of the faet that many brokers were away at the races to bear shares. As the whole future of this mine centres in cutting the rich Hauraki lode, people naturally concluded tbut this attempt had failed. One of the directors promptly telegraphed to the manager : —’Shares fallen suddenly to 10s, has any new development occurred ’’ To which at 4 p.m. the following answer was received: * Nothing that I know ot ; people think we are past Legge's reef. I do not.’ Sales firmed again next day, sales taking p'ace at

12s 6d, but towards evening there were sellers at 11s 6d. Next day sales were re;>orted as low as 7s 9d, but an hour later transactions took place at 9s, and next day at 10a. The manager of the mine came to town at the end of the week to confer with the directors. He stated that from the general appearance of the country the Hauraki lode shou'd be intersected at any moment, as the pug which he had passed through was similar to that cut in the Hauraki mine, 20ft from Legge’s reef. He had nearly driven this distance, and he had not yet intersected the reef. Making due allowance for a slight deviation, he expected to cut the reef in the next 20ft of driving. Shares advanced in price on Monday from 9s to 12s, in consequence of the surveyor giving his opinion that Legge’s reef was still further ahead of the present drive. HAURAKI QUEEN. At a meeting of syndicate shareholders in the Hauraki Queen licensed holding held on Wednesday it was determined to form the licensed holding into a no-liability company with a capital of £9,000 in 60,000 shares of 3s each, nil paid up. Messrs W. Led Ingham. M. Niccol, Austin Walsh, A. Kobins, A. E Coatee, and Major Swindley. Mr Unas. Grosvenor was appointed manager, Mr C. J. Parr, solicitor, Mr T. F. Cahill, aud tor, and the Bank New Zealand bank to the company. HAURAKI NORTH. This Company is now sinking a shaft on the old Golconda hill. Seven or eight men are at work under Mr Bremner, and are now down about 16ft. The shaft is 12 x 4, and will thus g.ve three chambers. It will require a good deal of sinking to get down to the same level as, say, the Hauraki, but as good gold was got in the old Golconda ground, it is likely that the sinking will not at first be carried so low. Another shaft is to be sunk over the hill near the beach. The ground consists of about 90 acres lying north of the Hauraki and other propei ties in the locality. THE KATHLEEN. SOLD IN LONDON. The Kathleen Company has been successfully floated on the London market, there being quite a rush for shares. The ground is situated in London, and the capital of the company is fixed at £75.000 in 2s 6d shares, of which the vendors take 320,000. The property comprises Lynch’s paddock of 51 acres which is to be acquired for £50.000, of which £lO.OOO is payable in cash, and the balance in shares or cash. NEW TOK ATE A.

This is one of the most promising of the newly-formed companies at Coromandel. Already one or two small parcels of picked stone have been obtained, and this week the manager telegraphed : * Finished breaking down. Got about 701bs of picked stone and a few pounds of specimens.’ PEVERIL. A cable was received from London this week stating that the shares in the Peveril Goldmining Company of Hauraki, had been allotted. This property is better known as the Londonderry, and consists of 25J acres situated on . the Tokatea Range at Coromandel. Two other cable advices state that the Peveril Company was successfully floated in London on Wednesday. On the transfer of the property being completed in Auckland £5,000 working capital will be remitted. WELCOME FIND. The collapse in the price of Bunker’s Hill shares atlected Welcome Finds also, but a recovery took place when the manager notified by telegraph that he had cut another reef two feet thick which carried excellent mineral for gold.