Gold Mining Speculation.

Manawatu Herald, Volume III, 24 February 1891, Page 3

Gold Mining Speculation.

f^v^he Post gives the following in- ; vi teresting example of the ups and downs of gold mining speculations. . The sudden rise which is referred to in our telegrams from Auckland today as having "occured in the price of shares of .-^feba* Waihi Silver and Gold Mining Co., reminds us of the peculiar experience oi a Wellington resident who formerly lived on the Thames goldfield. A few years ago when the Waihi gold field, which ia situated about 40 miles ■ from the Thames wasopened,'heboughta num--ber of shares in the Martha Co., at 2s each. After a time the company found that operations could- not be successfully continued and shares became unmarketable. The Wellingtonian endeavoured to dispose of his scrip for a song, but was, unable to do so, and he actually could not induce any of his friends to take them as a gift. A powerful company, promoted by the Hon. Thomas Russell, was formed in London to work the ground and each person who had held an interest in the Martha property received a certain number of shares in the new concern. The success of the Waihi Silver and Gold Mining Company has been wonderful. The most modern appliances (of which a discription lately appeared in our columns) are being employed to treat the ore, and stuff which was not Temunerative under the old methods of treatment is now paying handsomely. Our Wellington friend still retains his interest in the property, and now naturally congratulates himself on having done so. Shares last night were firmly held , at 80s.