MINING NEWS.

New Zealand Graphic, Volume XV, Issue XXV, 21 December 1895, Page 780

MINING NEWS.

\• j ORE business was done in mining iVI stocks during the last week, Lhu demand being mainly for shares in proved mines with batteries either at work or in course of erection. Wood stocks, after being neglected tor a while, suddenly came into favour and advanced within the fortnight from 26-4 to 325. There have also been steady buyers of VVaihi-iSilvertons at about 50s, wnile many other Upper Thames stocks have had fair inquiry. No doubt the buying now taking place is due to the fact that many keen business men are of opinion the New Year will open to brisk business at higher values. Just before the holiday season many young speculators are prepared to sell for small profits in order to have more cash available, and advantage is taken of this to secure shares in good properties at cheaper rates. After the holi days when people settle down to business there will be less disposition to sell, and as the slightest demand causes hoders to ack higher prices, values soon advance. A cable received from London towards the end of the week stated there was every indication of a better feeling there as far as New Zealand mines were concerned, and gave strong hopes that the improved tone now apparent would be continued. The gold returns this week are of an encouraging nature, the Hauraki mine having yielded £7,206an increase of over £lOO upon thatof the previous month. That out output of gold is steadily increasing is shown by the fact that the export returns for October places Auckland well ahead, being £57,490, as against £243 in 1894. Greymouth also shows an increase, being £22,873, as against £12,964 last year. Hokitika exported £9,364 this mouth, the total export from the colony for October being £90,292 as against £42,608 same date last year, and all but £32,802 comes from the Northern goldfields. When it is borne iu mind that large crusting plants are now in course of erection in various sections of the goldfields, and also that many of the new English companies have not yet had time to get to work, it most be concluded that 1896 should see a much larger output of gold from thia end of the colony, with still further increases tne following year. Crushing power is what is now wanted all over the helda, and it ha) been suggested that a large public battery of say 200 head of stampers should be erected at some cential point in each district, where the quartz obtained from the various mines around could be crushed either at so much per ton, or by being bought outright at the assay value. This would enable small companies with little capital to employ all their cash in developing their property. Many mines have payable quartz lying outside their drives, but have no means of crushing. If a public battery existed within a reasonable distance this quartz could be crushed, and thus capital raised to further develop the mine. Although mining matters have been somewhat dull*of lute at Coromandel, stid there is a good deal of substantial work iroing on all the same, which no doubt will result satisfactorily.

At Te Puke the prospectors have every confidence that a payable goldfield will be opened up. At Burrell's Find, which is situated on a tributary of the Wairoa River, about eight miles in a direct line from Tauranga, loose gold is found in small creeks on both sides of the spur, on which is a blow twelve feet wide. A drive is now being put in to cut the reef, which is expected to be done early next week. Stone has also been got from both Fleming’s Freehold and the Te Puke special claim, which gives good gold after pounding in the mortar.

Accounts from the Monowai mine at Waiomo point to the ultimate f-uccess of the new process now being adopted for the treatment of refractory ores ; in fact, holders are firm in their faith that the right method of treatment has been tried. With ihe exception of steady sales of KapaiVermonts and J upiters this week, Kuaotunu stocks generally have received little attention, but as an amount of prospecting work is being done in the new mines, no doubt discoveries will be made and once more direct attention to that district. Here as in other parts of the goldfields there is a great want of crushing power considering the number of companies now working. At Waihi they are progressing very satisfactorily, and a project is now on foob for a syndicate to lay down a tramway from Paeroa to that township.