OUR COUNTRY CORRESPONDENCE.

Evening Star, Issue 3385, 26 December 1873, Page 2

OUR COUNTRY CORRESPONDENCE.

U Pi’Er Shotover. —The deputation appointed by the residents here at a recent public meeting have conferred with Messrs Turnbull and Bastings on the commonage question, and appear to acquiesce with the views of the Government, as large reserves for commonage will still be left in the vicinity of the principal gold workings. The neighborhood of Skipper’s Creek, where the quartz mines will certainly be worked on a large scale in future, and become the backbone of the district, in a mining sense, is, at the request of the deputation, provided with an extensive and good area for depasturing •stock. Pleasant Creek and adjacent terraces, which comprise all the most important workings on the west bank of the Shotover, are well provided for, while the whole of the eastern bank from Arthurs Point, near Queenstown, to the Shotover branches is reserved. The final arrangements of the Government in these matters will be reported to the district in a few days, and meetings will be held to have them submitted —In the Shotover Company’s claim the. principal work of importance which is being carried on is that of driving a tunnel 1,200 feet to connect the main drive with Pleasant Creek, in order to provide an adequate supply of water for sluicing the large quantities of dirt which, under the new arrangement, will be raised. This tunnel, with the head-race ox connection with it, will cost the company a large sum—about L4OO ; it will, however, be of immense advantage in the development of the claim, as it is driven entirely in new ground, and valuable discoveries over a large extent of it may be fairly anticipated. At the time of the formation of the company a tunnel was in existence which would have served this purpose of conveying water, and had the claim then been laced in the hands of a skilled engineer, it would have been utilised. Unfortunately it was allowed to fall in and go to destruction in the same manner as other valuable portions of die claim to which communication will have again to be restored. A far less expenditure than is now necessary, if made then, would have enabled the claim to pay satisfactory and steady dividends from the first, and would have secured the workings and kept them open and m good order. The other works now being carried on consist of improved arrangements for bringing dirt to the sluice, and the underground workings will soon assume the appearance of a miniature railway sytem, with main and branch dues, points, turntables, and trains of trucks drawn by horses in place of single trucks, pushed along by men. Perfect ventilation will cake the place of the stifling atmosphere, which lately so seriously retarded and increased the expenses of working, and the sluicing arrangements will be greatly improved. The disappointment which has resulted to this company trora the mistaken policy of grasping at iminehate dividends by postponing the expenditure necessary to place the mine in a permanent di-vidend-paying condition should be remembered, as the best mine in the world may be brought to stagnation by such a policy. While referring to the subject ef mining management, f should like to suggest the desirability of the publication of detailed accounts of the revenue and expenditure of all companies whose stock •s dealt in by the public, as a mine may not be [laying dividends, yet realizing large profile, which are being capitalized ia the purchase of machinery or the liquidation of previous liabilities. I know one case in point where a company here—the Nugget Beef—which is not thought to be doing more than paying expenses, has disbursed over L 3,000 on capital account during the last two years out of revenue, in spite of numerous breakdowns of machinery, and yet only those immediately concerned are aware of its prosperous condition. The balance-sheets of banking and insurance companies are published in the daily journals, while the affairs of mining companies are shrouded in mystery, too often for sinister purposes. Thefault does not always lie with the up-country management, but is often blameable to the sharejobbing tendencies of those interested who reside in the cities, and thus doubt and discredit are thrown in the way of the development of an important industry. The summer so far has been siormy, and the rivet is keeping rather high, so that it will be late before the river workers get a start. The principal claim in the river is that of the New Channel Company, who have commenced paddocking, and whose workings I hope to visit in a few days. Fair accounts continue from the claims at the branches and the tributaries higher up.—Christmas sports will be held thla year at Skipper’s Point.