THE CALEDONIAN MINE.

Auckland Star, Volume III, Issue 638, 27 January 1872, Page 2

THE CALEDONIAN MINE.

To tho Editor of the Evening- Star Sir,—The present depressed state of the Caledonian mine is such as not only to call for the greatest amount of energy on thepart of the directors and mine manager, but a matter of very serious import to the welfare and solvency of a large portion of the community. It is, therefore, high time, with a view to restoring public: con, fidence if possible, that a survey of the* mine be made, say by four independent S managers of acknow edged abibt£ , and a report thereon furnishea to tiu, , Sareholders, so that they may have the means ofdetermining whether the present unaccountable state of the mine and mar--1 et i due to concerted actions on the part of tie capitalists,^-, the "riggers ;or whether t arises from the natural decay of the gold producing powers of the mine. That it can be the latter, one can scarcely believe, especially when it is remembered that it was authoritatively stated by the directors at the last annual meeting that they might co i gratulate shareholders that rich yields from the Caleaonian might be expected for years." And yet a few months only have passed, and the> nune is barely paying expenses. If we are to accept current reports, and indeed I might say results, it presents every indication at the present time of being worked out, at any rate as far as the rich run of gold is concerned. One thing is very clear, that if the high-fainting report of the directors was issued unadvisedly, or for a ourpose, a very serious responsibility lies Keirdoor. result of it has been that hundreds of persons are absolutely ruined, and not through their own cupidity, but from the action of unscrupulous speculators and others. So far from the 'rich yields" continuing, the expenses of working the mine are barely met oat of the returns from the crushing stuff sent to the batteries. I am not at all surprised at that, looking at the expense of management as at present worked. It is also a fact, I believe,that hundreds of tons of crushing ' stuff are sent monthly to Tararu to be crushed, the proceeds of which about five pennyweights to the ton) will not ' cover the cost of carting; indeed the : tailings that were disposed of the other day will give a far larger return. How is this ? If the sandstone is to be crushed, ■ why is it not held back until the company _ have their own battery erected, tailings as i well. A suggestion, too, was made some . time back by two able gentlemen, who . reported on the mine—that portion of it > that would not give a return of over halt • an ounce to the ton should be let on 1 tribute. I think, with a view to the more : economical working of the mine, the t suggestion, as far as practicable, might be f adopted. Moreover, I think the directors r might waive their salary, now that their I duties are only nominal, like their honorarium should be. My only apology, sir, to you for trespasssing on your space " is the interest felt in the subject of my I letter, and your known fearlessness in ' giving admission to any matter calling for 1 exposure, if not enquiry. Yours, &c, Argus.