Gold Mining News.

Feilding Star, Volume XVII, Issue 272, 22 May 1896, Page 2

Gold Mining News.

The booming of New Zealand .minings properties which we foretold ,ioino '. '''Wftika; ;'.••; : ; ago, says the Londop San of filarch' 6lh^ showe signs of beginning/ a^d iseveriii * companies with substantial capitals f^avo ; appeared within a ehprt period; This ; : morning, appears the Southern Star \ Mine?, Ltd., fiauraki, New Zealand j with a capital of £15,000 iri 600,000: shares i of? 2s 6d each. It has been ; formedv»o acquire and develop the property known a» ■ '" the Southern Star Licensed Holding, containing about 15 acres, situated in tiiisCdro:^ mandet Goldfields.New Zealandy held as a licensed holding under the usual cbndi-" tions, and comprising about onerhaU of the original Success' mme (< and immedi' 1 ately adjoining the Try Again and 'West Try Again mines^ The purchase piiee has been fixed at jesO,()pO, payable as to £37,500 in fully-paid sKareß,li»pSitf^t!ttr-;r balance in cash or shares, or partly in' shares, at the . option of the, directorß^ The present issue: is oj£ SOO.OOjpr^sHaws; ■ of which 200,(X^ are to be appropriate^ : to working' eapital. t .^Z] : ' %v -^ ■ !,'.' \lV^ - (Per Press Association.) ' f. :A : '" V ,'"• : Auckland, May 20. - ' The directors of the New Whau Goldmining Company met tb^day "to consider f an option of floating the "property! od tbe> ; London market. The terms, are that a Company is to be formed with,^ a capital of i' 150,000 in £1 shares, the New Whau r share holders to receive 30,000 fully paid > up shares, and the Clunes shareholders ;/> 15,000 shares, a working capital oVi£2f£i' 500 to be provided;; Under these terms. the share holders in both companies^ r»»; ; ceive ar the rate of three paid-up shares^ for every 10 held in the present companies. The directors decided to accept tba offer subject to an offer being -paiill to* wards the working capital, each , sum. U>. b« expended in dfivelopibg the prope^t^. The combined areas in these propertiea are 74 acres. ' / _.. „.., . 'y. - : -, '^,^ ' The following cablegram was posted |» the Exohange to-day:— "New Tokatea underwritten. Will be floated immedi" ately after Whitsuntide Holiday s." ■ . ; As to the New Alburnia prbperty^ the balance of the £10,000. cash to be paid to the local shareholders has been lodged in the Bank to their credit, tp be A paia over fas soon as the meeting of 6hareholders to confirm the sale hby been; held;- ;: ■■