THE AUCKLAND GOLD FIELDS

Grey River Argus, Volume XII, Issue 1233, 11 July 1872, Page 2

THE AUCKLAND GOLD FIELDS

The gold fields; both of the Thames knd Coromandel have made a decided start, and whatever relapses may occur there is no doubt now both of the stability land extent of' the mines.. ' The old claims so long sinking money, such as the Moanataiari; have taken rank as dividendpayers, while the new claims are being worked/ with vigor and every indication of success. The spirit displayed is also different to that of paist. years. People no longer go into mining with the idea that they are to make rapid fortunes at a blow. They have learnt that it requires capital, skill, and patience .to develop! the richest ground.: Hence shares in new claims do not sell for a tenth of what they did ; but on the other hand, the buyers are prepared to: pay calls to work the. claims with a willingness and to an extent j that would have been incredible a year ago. At the Thames there is a good ; list of actual dividend-paying claims, while at Coromandel, the Tokatea, oreen Harp, Golconda, and Bisuiarck indicate an extent of . country which would in itself make the fortune of a Provincei Within the area bounded by these claims several hundreds have been marked out to the grea* profit of the Government— or rather, it should be said, of the Maoris — to whom the lease money is paid. But beyond that, these claims, as a rule, continue dead letters, for excepting in wellorganised companies with a fair visible prospect before them, either from the possession' of surface reefs or the neighborhood of well-known claims, no shares are saleable. Looking at these changes, one may safely conclude that, while the scrip market will be comparatively quiet, the gold fields will be more energetically worked than ever; The line of. reef from the Tokatea to Kennedy's Bay is now the favorite, and the works going on along the reef and its neighborhood are exten-

sive. The Tunnel Company is continuing with vigor its tunnel through the hill to connect Kennedy's Bay with Coromandel. The township at the Coromandel aide is already large, and growing daily. Of course, the cases occasionally occurring of men to-day poor, and to-morrow rich, create excitemunt, and giy.er spirits 4 to speculation, but .there is . ., no longer the fever formerly attending it. The work to be done is better understood, and many Sober, steady people, who would not at one time look at shares, are glad of favorable opportunities to take part in developing the hidden wealth" of which such brilliant specimens are being constantly broiight to light.