BUNKER’S HILL MINE.

Gisborne Times, Volume VIII, Issue 511, 26 August 1902, Page 2

BUNKER’S HILL MINE.

OBTAINS A NEW LEASE OF LIFE.

Among tho Auckland gold mines, thcro aro few claims that have seen so many ups and downs as tho Bunker's Hill Gold Mino at Coromandel, and, although tho shareholders have never had the pleasure of receiving a dividend, they have always lived on, filled with hope of tho riches that tho mino was likely to produce. Tho mino adjoins tho famous Hauraki, at Coromandel, and tho total area is less than four acres. Tho richest reef in the Hauraki is supposed to dip right down into tho Bunker’s, but tho fates woro always against striking it; and, although it could be traced to tho boundary of the one mine, it could never be picked up again in the adjoining claim. A little gold, however, soon infuses life into the Stock Exchango, and although a week ago Bunker’s Hill shares were valueless and the shareholders woro faced with the certainty of a liquidating call, tho mino is to-day in a flourishing position, and valued, if we take the selling price on the Exchango yesterday, at .£25,000. Thoro are 100,000 shares in tho mine, and there were a number of sales yesterday at 5s per share. Last Wednesday Bunker’s Hill shares could have been obtainod for threepence, but on the following day sales were made from is 3d to is gd, with steady buyers at is 6d. The sensation was caused owing to tributers in the mine coming across a gold bearing reef, from which they secured several parcels of picked stone. The tributers commenced operations on Monday last, and had the good luck to find what the Company had failed to discover for the last lour or five years’ work. Further hauls of picked stone infused considerable life into business on the Stock Exchange on Thursday afternoon, the paid-up shares sold at is 7d, is Sd, is 9d, and is 1 id. Another 33lbs of picked stone were, however secured by the tributers, with the result that on Friday morning paidup shares sold from 2s 3d to 2s ud. and contributing from 2s 3d to 2S 4d. At tho afternoon call sales took place as high as 3s 3d, and on Saturday and yestorday tho shares continued to advance, sales being made yesterday afternoon at 4s lOd and ss, A wire received by a gentleman in Gisborne from Coromandel yesterday stated that there was good reason for tho sharp advance that had taken place in the prices of shares, between 200 and 3001 b of picked stone having been secured by the tributers in less than a week.

Quito a numbor of Gisbornites aro fortuuato holders of shares, although several of them have been rather unlucky iu regard to their transactions with their Auckland agents. Iu two cases brought under our notice yesterday, shares hold in trust for the shareholders aro alleged to have been quitted without instructions, the first intimation that tho shareholders in Gisborne received being telegrams announcing the salo of tho shares. The transaction has in each case been denied by the owner of tho shares, and unless tho shares aro replaced, civil action is likely to follow.

The Bunker’s Hill Company was formed during tho Auckland boom, shareholders paying 2s each for their shares. On the following day there were buyers at Cs 6d, and tho shares jumped day by day until they reached 18s ; a few transactions being recorded at £l, a gentleman in Gisborne selling a hundred at that figure. The shares went up and down rapidly, and transactions being numerous the mino provided a regular harvest to the sharebrokers, who iu dull seasons could always make good money out of Bunker’s. Then came the period of calls, and although these were of a substantial nature and made nearly once a month they were paid with great promptitude. It was always safe to pick the shares at a few pence and sell them at a few shillings, and we believe we are correct in stating that more money has been made and lost out of Bunker’s Hill than in any other mine in New Zealand. The success of this mino would mean for Auckland another mining boom, but we are not amongst those who believe that such is likely to result.

SHARES STILL RISING. 3241bs SPECIMENS AND PICKED STONE FOR WEEK. EXCITEMENT ON STOCK EXCHANGE CONTINUES. (Special to Times.) Auckland, last night. A telegram was received to-day by Mr C. A. Stubbs, legal manager of the Bunker’s Hill Goldmining Company, informing him that the tributers in the mine had secured a further haul of speeimeus and the parcel won being 311 b. This brings the total amount of specimens and picked stone secured by the tributers’ party in question as the result of seven days' work to 3241 b, viz., specimens 1041 b and picked stone 2201 b. Gold is still showing in the ore. The excitement on the Stock Exchange consequent upon the run of gold struck by the tributers continues unabated, and sales in Bunker's Hills are daily brisk with a steady upward tendency. To-day tUe prices paid ranged from 4s 2d at the morning call, and os 2d in the afternoon, though it was reported that business was done on the floor at 5s sd.