MINING INTELLIGENCE.

Evening Star, Issue 3200, 23 May 1873, Page 3

MINING INTELLIGENCE.

Cromwell.— A three weeks’ crushing for the Star of the East Company, finished one day last week, resulted in a yield ot 107o*s. of gold. We hear that tho directors have it in contemplation to drive a new tunnel, at a level of 140 feet lower than the present main tunnel.—The crushing-machinery and plant belonging to tho Alta Q. M. Company, Bendigo, was submitted to auction by Mr G. Fache on Thursday, at Mr M’Kellar’s office, Cromwell. The bidding reached L4OO, at which figure the property was bought in for the company. At the same time and place, the dredge Salamander —which lies sunk at her moorings in the Molyneux, opposite Hartley’s Beach—was sold by auction for L2l 10s to Mr M'Kellar. Two small parcels of quartz-mining shares were also offered: Heart of Oak scrip was withdrawn at 455, and Star of the E;ist bought in at 75s.—The crushing for the Young Australian Company was completed on the 13th inst., and the gold was brought into town on the day following. From 207 tons of quartz the product of gold was found to be 1500z5., the averageper ton being ILJdwts. The value of loOozs. at E3 18s is L 585, from which is to be deducted for carting and crushing (at tho rate of 12s per ton for each item) say L 250 ; leaving the very substantial balance of L 335 for working expenses and shareholders’ profit. —A General meeting of the Colleen Bawn Q. M. Company, Registered, was held at the Manager’s office, Cromwell, on Saturday evening, 17th inst. Holders of 900 shares were present. The attention of the shareholders was chiefly occupied in considering tho present position and prospects of the mine. The working manager reported that he had sunk the monkey shaft to the depth of ninety feet from the main drive, and that gold-beanng stone of (as he thought) a payable nature was carried all tho way down. It was resolved to sink the main shaft to the same depth, and afterwards to workthe stone from both main and monkey shaft. Eight shifts could then be put on if desirable. It was also unanimously resolved to make a call of two shillings per share to defray current expenses. —Argus. ■