THE TAMBAROORA REEFS.

Grey River Argus, Volume XII, Issue 1359, 6 December 1872, Page 3

THE TAMBAROORA REEFS.

The mining enthusiasm in New South Wales has been considerably stimulated, so far as gold is concerned, by the last dividend from Hawkins Hill. The stone from the two best claims is richer than ever. One lump of Ccwt, from Beyers and Holtennan's, and of which one-third was estimated to be gold, is the choicest specimen yet produced in the Colony. An effort was made by the International Exhibition- Committee to get the Government to purchase it and send it to London. The Government was slow to move, and the directors of the company thought the shareholders would prefer to have it crushed, so it was sent to the mill and has helped to swell the dividend now declared. This dividend is 15s a share on the LI share, and of a capital of only L 72,000 the original shareholders get back L 54,000 in this second dividend. The first was only Is a share. This second dividend is the proceeds of about eleven weeks' work. Tho adjoining claim of Krohman's has already paid back 12s Cd a share in dividends, and the next to be paid out of the crashing now going on will more than repay the balance of the pound, so that in this claim the shareholders will within twelve months have had all their capital returned, aud fully 30 per cent, interest besides. These claims, however, are of course exceptions, and their success only aggravates the impatience of shareholders in the unlucky and progressive companies; Tin mining is very flat. It is now becoming very clear that many of the companies are overweighted, and it is very doubtful if some of them will be worth working at all. It will be with tin as with goldsome mines easily worked will tarn out very profitable, others will barely pay expenses. A good deal of the disappointment, however, ib unmistakably traceable to the utter incompetence of the mining managers. The number of men is lamentably small who thoroughly understand sluicing operations, and who are competent to lay out new ground for large and effectual operations without any waste of money on afterthoughts.