IMPROVED PROSPECTS AT THE THAMES.

Hawke's Bay Times, Issue 1523, 7 November 1873, Page 6

IMPROVED PROSPECTS AT THE THAMES.

The Southern Cross of the 15th October, says:—

For a considerable time the Thames has been under a cloud, and hopes sustained against hope have been rapidly waning, as waned the leading stock in the share list. It was the old story of Ballarat—"the field is worked out"—was theory believed in by many, and few had faith in deep sinking, although it was still persevered in at considerable cost, in the hope that gold would be found at a lower level. Yesterday a telegram from Grahamstown, notifying that fresh and promising gold had been struck in one of the new sinkings of the Caledonian mine, had the effect of raising the shares of that company from &12 to £l7 within a few hours. There was not a little excitement caused by the news—not merely with respect to,the shares in the mine when the fresh lead of gold was struck, but on account of the prospects which, it is believed, the discovery opens for the whole goldbearing district of the Thames. It is hoped, from this discovery, that the early future will behold a parallel, with respect to the success of deep sinking, to the case of Ballarat, where gold is now being found and payably worked at depths exceeding eight hundred feet. If the Caledonian discovery proves what is hoped for by many, it will give a great impetus to the Thames, and produce a corresponding im.pK>yen>eni $ Auckland and elsewhere in 'the province,