AUCKLAND VIEWS,

Dominion, Volume 4, Issue 1014, 2 January 1911, Page 5

AUCKLAND VIEWS,

COMPLAINT NOT JUSTIFIED. (By Telegraph—Press Association.) Auckland, December 31. Mr. Charles Rhodes, local attorney for tho >Wnihi Company, interviewed regardingl - the drop in Waihi shares and the cabled statement by the "Financial News" that the.company is the prey to rumour, largely becauso the directors do not publish progress reports, said, that there was no justification for complaint as to lack'of information regarding development work at. the mine. The company published more details concerning operations at the mine than any conccrn ha knew of. Mostly reports giving full particulars of work were banded out, and quarterly reports were issued, to shareholders, Ho knew of no other conr cera that- issued quarterly reports. Taking the monthly "reports and annual reports, which contained nothing mora than was in the former; an.-. engineer could, by spending a little time, work out "a correot statement of assays, _ yields, and everything else useful, without going near the mine. Ho knew this was done in London at tho present time. The drop in the quotation cabled he admitted was staggering, but he could offer no explanation aa to. the causa.

THE PATJ/. IN WAIHIS. The fall in Waihis is due development work at the No. 9 level not coming up to the anticipations previously formed. Tno last report on the work at this level was issued by the local director (Mr. C. Rhodes), on December 27. It stated: ■ "No. 9 Level: The Edward lode, south from Pcrch crosscut, has b?en driven 3Gft. in ore valued at 6s. 6d. per .ton. In tho lode north from the crosscut 40ft. has been driven, the values aveoaging £11 12s. Gd. per ton. In the crosscut at- 150 ft. tho first 45ft. was through ore valued at ,£1 ss. 6d. per ton. .-Martha lode: In the south section west of No. -!■ shaft crosscut 36ft. has been driven, and ore being valued at 4s. 6d. per ton. In the crosscut at 800 ft., the first 15ft. shows values of ifil 6s. Gd. per ton, and tho next 15ft, ss. 6<l. per ton. The crosscut south from the Royal lode (Reptile crosscut) 20ft. has been driven in ore valued at .£1 os. 6d. per ton. Tho width of tho lode is.about lit. Tho courso of prices in Waihis since the normal level was left is roughly indicated by the following - table, which gives tho opening and closing sales on. the Wellington Stock. Exchange each month since March. Opening Closing Month. . price. price. ifi s. d. £ s. d. March 9 15 G 9 9 9 . April, ..... 9 9 9 .8 1 0 May 8 '1' 8 9 6 June .• 8 9 6 8 2 0 July 8• 3- 0-.: 7 17 6 August 85 0 1 712 0 ■ September 7 10 0 G 5 6 October fi 6 0 ' 610 0 November ' 6 11 6 6 0 0 December 6 0 0 5 14 . 9 The December closing price is for Do. ccmber 22, when, the local Stock Exchange closed for the holidays.