The Ashburton Guardian. Magna est Veritas et Prævalebit. SATURDAY, OCTOBER 15, 1887. THE WAITOA GOLD FIND.

Ashburton Guardian, Volume VII, Issue 1688, 15 October 1887, Page 2

The Ashburton Guardian. Magna est Veritas et Prævalebit. SATURDAY, OCTOBER 15, 1887. THE WAITOA GOLD FIND.

Our readers will remember that a few weeks ago considerable excitement was occasioned m Auckland and other parts of the colony by the reported dis covery of payable gold at Waitoa on private land belonging to Mr T JB Smith. After several assays had been made with satisfactory results a com pany was formed m Christchurch for the purpose Of working this auriferous sand. After allotment of shares, still more encouraging assays were reported and the shares went up rapidly m value They were originally we believe 20s but they rose to £3 and more m a few days. We are afiaid the unfortunate holders will not like the news wired from Auckland last night which is of a startling and sensational character lhe news is to the effect that at a meeting of the Waitoa Prospecting Association held on Thursday, Mr Pond, analyse, gave a detailed report. , The results of the tests of stuff from Smith s and other properties, all showed traces of gold and silver but only one i had gold m any quantity, pecks from ! the latter were examined under the microscope. Experts declared that these were not wash gold, and all were convinced they looked decidedly suspicious. Mr Pond said, it was evident this was not naturai gold. Its character ! was m every particular similar to filings and borings, as if a sovereign had been turned on a lathe." There could be no doubt about it. The absence of silver was most significant. | He would not advise the Association j to prospect further. Mr Smith had' given every facility for prospecting his land. Mr Wills, the owner of the adjoining property, who was employed to test the stuff for the Canterbury Company asserts positively that no " salting » took place to his knowledge. Mr Smith's character stands too high to admit of suspicion being entertained that he has lent himself to a gigantic j swindle. It may be remembered that the " discovery » of gold at Waitoa was 1 made soon after the time tha: the cele-, brated finds at Hikutaia and Cambridge took place, and when the public showed j symptoms of " gold fever " of a virulent type. We think that the true solution of the affair is that "some persons or persons unknown" at present, took advantage of the then existing state of feverish excitement, and played a practical joke upon the good people m and about Waitoa. But u this might be easily ascertained by analysing the gold which Mr Pond says looks so like j filings or borings, for we do not remember any instance of gold m its ' natural state having been found mixsd wuh copper. If copper be found m the filings or borings we fancy it would settle the question. No doubt many m Christchurch will have been " hit " pretty hard, especially those who bought shares m the Canterbury Company when they stood at too per cent premium.