MINING INTELLIGENCE.

New Zealand Tablet, Volume I, Issue 11, 12 July 1873, Page 8

MINING INTELLIGENCE.

OTAGO. The Southern Escort which last arrived in town brought the following quantities of gold :— Lawrence, 1736 ozs 5 dwts ; Waitahjgte-n 430 dzs 15 dwts; Waipori, 119 ozs 6 dwts; Switzers, 653 ozs 2<flP?B^ Tokoinairiro, 424 ozs 1 dwt ; total, 3363 ozs 9 dwts. The quantity of gold brought down by the Northern Escort on Wednesday last was 7920 oz 5 dwt.

The following items of aiming intelligence are from the ' Cromwell Argus ' i— The Star of the East Company finished a crushing of 200 tons on Thursday last. The quantity of gold obtained was 67 ounces. The Heart of Onk and Star of the East companies allowed the. men on strike three days to make up then- minds as to accepting the reduced rate of wages offered them — namely, L 3 ss— and the men unanimously refused to resume work except at the old figure. From the Caledonian claim (Mr G-. T. Stephenson's) we learn that a crushing of 427 tons was finished on Saturday, at the Royal Standard battery, Quartzville. The yield of gold obtained was 429 ozs 13 dirts. Owing to the bad state of the road between the claim and the battery, no more stone can be sent down for crushing until the commencement of spring ; but Mr Stephenson intends keeping on his full comple1 njent of hands (seven men) throughout the winter. These are all ! employed in getting out stone, prospecting for new leaders, and other- ' wise opening up the claim. The Caledonian occupies the premier position among the Carrick reefs. The Port Darwin goldfielda (the ' Bruce Herald ' states) continue to exercise a powerful influence over the minds of the miners of Otago. Many have already winged their flight for the distant field, and very few Melbourne steamers leave Dunedin without taking one or two adventurous spirits bound for the tropical Dorado. According to the Alexandra correspondent of the • Tuapeka Times,' those claims which require the river to be at a very low level in order to commence operations will not have much chance of a successful season. WIST COAST. Mining- operations, remarks the Hokitika c Leader,' are being conducted throughout the various fields in this district with varying success ; but the average does not reach that of former years. It is, however, expected that when the two high level water-races at the Waimea aad the Kanieri are constructed, a great impulse will be given to that important industry, and we shall have a large accession of population. The quantity of gold exported from the port of Hokitika during the month of June was 63540z 15dwt, on which the sum of £635 9s 6d was paid for duty. The quantity of gold exported from the port of Hokitika from January Ist to Juno 27th, 1873, was 36,8120z 12dwt sgr, valued at £147,325. The total duty amounted to £3680 17s sd. An extraordinary meeting of the shareholders of the Kanieri Lake Water Race Company was lately held at Hokitika, to consider the question of increasing the capital of the Company. Although the original capital had been put down at £10,000, it had always been intended to inorease that amount, and there was no doubt but that the additional shares would readily be taken up. Mr Bonar earnestly urged upon the community the necessity of taking part in the undertaking. Only one water race in Weatland had received a subsidy from the G-overntnent, and that Company was at the present time paying off the advance at the rate of 20 per cent, per annum. He believed that before the race was half completed, there would be returns coming in, as auriferous ground was known to exist along almost the entire line of the race. There was only a certain amount voted by Parliament for water supply, and that sum was already nearly exhausted, and unless immediate stops were taken to secure the subsidy for the Kanieri race, it would be too late. He believed that if the district was thoroughly canvassed, the whole of the shares could be disposed of. He had entire faith in the undertaking as a sound commeicial speculation, and it behoved everyone who had the slightest interest in the district to take shares in the Company. Mr White said that the resources of the district were great, but undeveloped, and unless the necessary amount of capital asked for by the Company was shortly subscribed the gold would perforce be allowed to remain in the ground, inasmuch as if the Government subsidy were not shortly secured, all chance of constructing the race would be entirely lost. It was unanimously resolved that the capital of the company be increased by £10,000, thus making the entire capital £20,000, the additional capital t<j represent 10,000 shares of £1 each. 1200 shares were at once taken up. -

The Charleston Four-mile Water Race scheme is progressing. Mr Greenwood has finished a memorandum as to probable cost of survey and construction of race, which he estimates at £5000. A late washing up in the Alpine claim gave 200oz of retorted

gold from 160 tons of stone, a large proportion of which came from the main reef AUCKLAND. The ' Thames Advertiser,' lemarks a northern exchange, has an article on the water supply question, in which it censures the gold fields representatives generally for not looking after the interests of their constituents. There cannot be any doubt whatever that the want •f a supply of water for crushing purposes, on the Thames gold field, makes a difference of from ten to twenty per cent, on the actual receipts ; but there is an enormous indirect loss to be taken into account as well. If there was abundance of water to use as a motive power in lieu of steam, a vast quantity of raining dirt which is now cast aside as worthless would pay to put through the crushing, mills. What is now absolutely a dead loss to companies would then pay working expenses at least, and in this way tend to raise mining investnients in public favor and value. The long-promised water supply for the Thames is apparently no nearer accomplishment now than it was twelve months ago. The delay, as we understand it, has arisen from the fact that the original plan was changed by the Government Engineer for the North Island, who determined upon using iron pipes instead of timber fluming. The material has been ordered, but when it may arrive from England is quite another matter. If the Americans had not used the products at their hands, they never could have made such progress as they have done in developing the resources of their country. At all events, no American would ever dream of sending sixteen thousand miles for iron pipes to lay them down through the heart of a kauri bush. The timber would have been used; and the difference in durability would have been more than compensated for by the saving to the mining interest, in the cost of crushing, and increased production during the period which otherwise would be wasted waiting for the iron to arrive from England. The Auckland Provincial 'Gazette' gives a statement of four companies, which have at one time, or do now stand Al on the field,'. They are the Caledonian, Golden Crown, All Nations, and Long Drive gold-mining companies. Of these companies the total dividends are : — Caledonian, £584,870; Golden Crown, £125,868; All Nations, £40,095 j Long Drive, £79,940. Total, £830,773. The total from four companies gives considerably over three-quarters of a million paid in dividends. The amounts paid in calls are not given, but itj is satisfactory to observe that no calls have been made during the past halfyear. The CorMnandel correspondent of the Auckland 'Herald,' refers to so fine a claim as the Bismarck being idle, and to the directors, though having a considerable quantity of gold in hand, making a call. He then relates :—": — " This is more than an injustice, more particularly to small shareholders. It is a cruelty, because many of these latter bought in, trusting that the mine would be fairly worked and managed, and they have found their property depreciated in value to a large extent $ and not only that, but they are actually called on to pay money on their scrip, when the company have in reality ample funds at their command. Is it any wonder that the small fry are gradually being " frozen out," or swallowed by the larger and more powerful fish. I believe that all the directors are not in favour of the past method of (non) working, but of course the minority have to give in to the majority. The Royal Oak directors have resolved to exclude reporters from the mine. Any one, observes a mining correspondent, can see that in the course of a fortnight the value of the mine might increase by £50,000 or more, and yet outside shareholders are not to be informed of what is taking place ! Bat, of course, directors (who may happen to be on the spot,) and legal managers know all about it. Well, that would be rather too much of a good thing j and I feel confident that shareholders will not place such implicit confidence in their directors and legal managers as to give them so much power to work the market. It might not be at all safe to do so. If this action is to be allowed to pass unnoticed, of course other companies will follow their example, and then good-bye to genuine speculation. If reporters are to depend upon information gained from the company's office solely, they may as •well give up altogether, as they would simply be made tools of, and I for one strenuously object to that. The Auckland 'Herald' in directing attention to the plan of excluding the representatives of the Press from visiting mines so that by personal inspection and minute inquiry they may be able to lay the true state of the workings before the shareholders and the public generally, says :—": — " Whether the shareholders will tolerate this remains to be seen." Writing on the subject, our Coromandel contemporary says :—": — " The attempt made by a local ' ring ' to take possession of the market in the matter of Coromandel nining stock will doubtless be defeated. The public will never suffer a state of things to continue. Shareholders are already indignant, and indignation will soon lead to action. They will tell directors plainly that the latter are put in office, not to get the first chance on the market, but simply to manage the financial matters belonging to the claim. We are all honourable men. So were the directors of the Green Harp, of the Caledonian, and so are the present directors of the Bismarck. Human nature is human nature after all, and viewed fzom f % mining point of view, human nature does not present its best features vi the beholder. It is a common saying, and we fear a trute one, that in mining business no man can trust his own brother. It is sad that such should be the case, there is all the more necessity that every possible check the public at present enjoys of counteracting possible fraud should be tenaciously clung to." A very numerous meeting of the shareholders of the Green Harp Co., was beld at Auckland lately, for the purpose of considering the action recently taken by certain members of the United Beach Company Committee, in appropriating to themselves some 700 shares without consulting the shareholders. There was a great deal of discussion, and some very hard things were said, so that it was difficult to get at the real position of matters from a rather desultory conversation. The substantial complaint was that the committee appointed to carry out the amalgamation of the " Green Harp," the "Coromandel Beach," and the "Venus," in trust for the shareholders, had misappropriated the above number of shares, without

any monetary consideration. It was resolved :— " That this meeting condemns the action taken by the directors of Associated Beach Companies, in disposing of the property of the Green Harp shareholders without first consulting them, and in appropriating to themselves a large amount of shares j- that they be called upon to resign and disgorge the misappropriated shares." (Cheers.) The yield of the tributors' crushing (15 tone) of the Prince Imperial claim, Thames, promises to be the best yet obtained by them. > 301 b of specimens 7 are included in it, and produced 130oz of amalgam — a heavy yield for the quantity of stone, and indicative of the good yield! of from loz to l£ozithe pound weight. .The company has very Liberally granted the applied-for extension of the tribute area downwards on the underlie of the vein. The accession was deserved, the tributors having worked the ground faithfully and well. The leader (the old Beach vein) carries a very distinct shot of gold, about 60ft wide. It seems to improve as depth is gained. AUSTRALIA. A writer in a Victorian journal says : — " When I inform my readers that Mr J. B. Watson of Sandhurst is in receipt of the trifling income of £4000 a week, or £208,000 a year in gold, they will see the reason why Mr Watson has invested £130,000 in Melbourne property and intends to live there, at which the Sandhurst people are fearfully wroth. The 'Observer' Hillend, .N.S.W. says— Ohappell's battiry has just completed a crushing of 41$ tons from this claim, and the result has been 5262 oz. already banked, in addition to which some 200 oz. are expected from the tailings. At Jeffree and Gellard's they still continue to grass quartz of very great richness. Jeffree' s Rose of England has just cut the same vein, and come on really splendid stone, believed to be something like 100 oz. to the ton. 137 tons from Beyers and Holterman's yielded 434 oz. Another grand crushing from claims Nuj. 7 and 8 south, Monk* land, Gympie is thus reported upon by the ' Gympie Times ' :— On .this occasion 520 tons have yielded the fine return; of 3510 oz. 1 dwt 18 gr of retorted gold, ou an average of nearly seven ounces to the ton ■ being very considerably in excess of what was anticipated by the holders when stone was first commenced to be put through the machine. This is the ninth crushing which has taken place from this splendid mine since the beginning of 1871 ; the total number of tons of quartz reduced up to the present time has been 4037 i which have yielded 29,913 oz. 3 dwt 18 gr, or over 5 oz to the ton.

Two Northern Territory claims — the Melbourne and Port Darwin and the Nina — have already produced 250 oz. gold. At Burnt Yards, Carcoar district N.S.W magnificent stone has been struck in large quantities, which it is estimated will yield 1,000 oz gold per ton.