Our mining prophet

New Zealand Illustrated Sporting & Dramatic Review, Volume VII, Issue 330, 19 November 1896, Page 5

Our mining prophet

A slight improvement in business on ’Change was noticeable towards the end of last •'week, which improvement has continued up to date, the market showing evident signs of recovery. The excellent ret urns from the Hauraki, Waitekauri, and other leading mines cannot fail to have a beneficial result, both at Home as well as locally, and it is safe to predict that before long things will be booming again. One good featur e > however, of the present dullness will be the weeding out of a number of the ‘‘ wild cats,” which will be compelled to <io into liquidation, for investors cannot fail t f recognise that in a great many mines it is hardly worth their while paying the calls that have been made. When the long list of mines has been reduced by the process of liquidation und amalgamation, we shall have left the more legitimate ventures, and matters will assume a more permanent character. To lead my readers to a right selection in this matter is what I now have in hand, and hope to succeed in doing so. Tha' the field is a good one is without doubt, and it is only a question of time for this to be proved. Broken Hill and Cornstalk. — There is every prospect of these properties being taken over in March by the English syndicate that has the option. Apart from this, the shares are worth holding nt the present low figure. Buy a few and put them by for a time. Cardigan.—This mine is splendidly situated, and must, ultimately come to the front. The shares are worth twice their present value. Clunes. —A cheap shot at sevenpence. Golden Point. — V good stock, though very much depressed. 1 have previously advised my readers to buy, and I again counsel them to do so. Great Barrier Gold and Silver —Still falling, and no wonder, for the tremendous rise these shares had taken was only due to sheer booming. The shares might be worth the money, but we have little evidence of that fact at the present time. Putting a fictitious value on stock in this way only does harm, and effects good and bad stocks alike. Hazelbank. —Don’t be afraid to buy at 6s. No calls in view, and an early prospect of dividends. May Queen. —Sales took place during the week at 10s. Quite safe to buy at that figure. Moanatairi North and Extended. —Two of the best of the cheap Thames stocks to buy. Orlando. —If the shareholders have had no dividends, they have at least had the pleasure of paying plenty of calls. The shares are at present 2s 5d paid up, and can be bought for 6d. A fair thing for a Hutter, but take care you do not strike a call. Byron Bay.—The prospects of this mine have improved considerably during the past fortnight, and the shares are well worth securing at ruling prices. Heitman’s Freehold. —Take what you can get for them and be thankful. Liquidation time is fast approaching. Golden Lion.—Several thousand of these shares sold by auction at a half-penny and a farthing. I pity the poor folk who conscientiously paid the full penny. Let the idol be at once sacrificed. . Grace Darling and Portsea. —Put a few pounds into these shares. They will see double the money during the next few months. Imperial.—Not to be overlooked. Hold fast to your stock. Star of Wathi. — Dependant greatly upon the Waihi South. Cheap at 2|d. Ajax.—A very good name for a mine, but the shareholders do not uphold it, or they would never offer to sell at 3d. Aurora. —Let it die in peace. Phoenix. — About time it took another lease of life or made a second call. Bunker’s Hill. —Considerable business has been done in this stock during the past few days. The mine is said to be looking well. Recent developments in the Hauraki also warrant a rise in Bunker’s. Quite safe to invest in a few, but don’t expect too much. The anticipation is always greater than the realisation. Eureka.—Not vet found out. A few penny calls might assist the shareholders. Welcome Find. —My remarks last week about this stock were not long in being confirmed. There has been a smart advance from 2s 6d to 3s, and better prices may reasonably be looked for. New Golconda. — Worth looking after at anything under Is. Zealandta. —This mine is being systematically worked, and good results may shortly be expected. My advice to shareholders is to hold. Al.—Tn name only. Gladys.—The directors will find it difficult to get the first call paid. Maori Dream. —One of the best Kuaotunu properties for investment. Midas. —“ Like Midas, all he touches turns to gold.” This can hardly be said of the shareholders in this company, many of whom bought at three times the present, value of share. This property is, I think, much over-rated.