THE SHOTOVER TERRACE GOLD MINING CO.

Evening Star, Issue 3337, 30 October 1873, Page 3

THE SHOTOVER TERRACE GOLD MINING CO.

W r e have b.eou requested to published the following ; The directors of this company at Queenstown and Dunedin, after the most careful inquiry and consideration, ami looking to the comparatively small yield of gold which Las been obtained from the claim during the last few weeks, have uuanimouvly resolved very materially to change the system of working it. With this view they have entered into an engagement for three mouths with Mr Frederick Evans, mining engineer of the Arrow, whose report on the mines, previous to the company’s purchase, was circulated with the prospectus. Mr Evans undertakes within three months to make such arrangements and alterations as will enable'the company to bring to the surface at least three times the quantity of auriferous ground hitherto brought out, and this without increasing the present amount ot wages. To enable him tu do so, the dime tors have given him the necessary powers, and have already ordered the immediate construction of the additional trucks, &c, required, H0 that no delay will take place in commencing ami in carrying on most vigorously the operations proposed. Previous to the arrangement being entered into with Ml Kvons,’ that gentleman visited the claim, and made a most careful survey of the whole workings, audit is gratifying to he able to announce to the shareholders that he continues to entertain the high opinion of its value and capabilities expressed, iu his foimcr report. ; Hb is 'sanguine that the shareholders, within the time named by him, will Lave abundant reason to be satisfied with their property, and with the returns wlncn he believes will shortly he made from its The 'Directors are bound to state that while they greatly regret the unexpected delays and disappointment which the shareholders have experienced in the distribution of dividends, they continue to have the same coulidtiiee in the great value of the Company’s property ; and that they believe

the means now to be adopted will, in the moat effectual and economical manner, develop its undoubted wealth. They think it necessary to add that, had these means been adopted from the first, as was originally intended by the promoters and Directors, the present position of the Company would have been altogether satisfactory. They were, unfortunately, however, induced to alter the proposed mode of working by the strong, and as they believe perfectly honest representations of parties largely interested in the prosperity of the Company, whose representations, however, have not been realised.