MINING NEWS.

New Zealand Graphic, Volume XV, Issue XXIV, 14 December 1895, Page 749

MINING NEWS.

JHHEBE has been a decided upward I tendency in values of mining stock this week, and steady buying has been done in respect to higher-priced shares in mines that are in the gold. The most remarkable advance has been made in Kapai-Vermont, which, after falling as low as 7s 9d one day, subsequently advanced to 12s 6d, and then receded to about 11s. The payment by the Waihi Company of £16,000 in the shape of dividends a week before Christmas should also tend to convince investors that large bodies of lowgrades ore when systematically worked are more to be desired than pockets of rich specimens that are soon worked out. Probably to this may be attributed the tact that attentions of speculators is now turning once more to the Upper Thames mines, and for the last day or two there has been a marked increase in the number of buyers for those stock". Waihi-Silvertons have registered a distinct advance, sales taking place as high as 555. whereas a week or two back a parcel changed hands a< low as 395. Accounts from this mine continue ot a very encouraging nature, and the result of the crushing with the new plant early next year will be awaited with interest, though of course the first run of the mill can scarcely be looked upon as a fair criterion to go by. Although prices ot stock all round continue low as compared with those ruling a month or six weeks ago, still a better feeling prevails, holders having apparently lost that feverish desire to clear out at any price. Bunker's Hill has not yet got Legge’s reef, and apparently speculators are beginning to realise that there is no reason why a four-acre patch at Coromandel should depress the whole market. One good effect of the recent depression in the mining market is that new companies are not now being rushed on the market, as the majority of investors, having quite enough scrip on hand, are not eager to gointo new ventures Atthe Warden’soffice, the clerks instead of having hardly sufficient time to receive money and applications, now have to pay a good deal of money every day for withdrawls. While the rush was on, money could be got for anything that was offered, but now the very best property would require considerable influence to float it. This is not to be regretted, a« already enough properties have been floated to necessitate considerable expenditure if the shareholders intend to develop them. The boom on the Sydney Exchange should also tend to have a beneficial result on the local market, for confidence is catching. Two English companies have commenced operations this week at Coromandel to develop the Preece’s Point property and the Kathleen. At Waihi and Waitekauri the Home Companies are now giving employment to some hundreds of men, no time being lost in getting to work to open up the mines and erect suitable crushing plant. Altogether there is a more healthy tone this week pervading mining circles, and there is every reason to believe that after the holiday season the Exchange will open to brisk business.