THE LONG DRIVE.

Mount Ida Chronicle, Volume II, Issue 56, 25 February 1870, Page 3

THE LONG DRIVE.

As many persons are interested in this claim, the stock of which has suffered such a serious depreciation, without, as far as we have been able to learn, any assignable cause, we abridge the following article regarding it, an article evidently written in good faith, from the ' Auckland Herald

After a period of prosperity almost unparalleled in the history , of quartz mining, the shareholders in : the Long Drive have commenced the. new year under a cloud, and many of those who have invested in this company without any previous knowledge of the risks and'uncertainties of gold mining, must have felt no little dismay on finding their shares depreciated to the extent „of 50 per cent, in two days. - Not without at all wishing to set himself up for an authority on mining matters, the writer may' perhaps be permitted to state that in the face of some very extensive experience he acquired some years ago in quartz mining elsewhere, he recently deliberately became a shareholder in the Long Drive, not for the purpose of speculation, but because that he considered that the shares afforded a perfectly safe and profitable -investment. Looking upon it in this light, the writer felt no great uneasiness when the late panic arose, but in order to be satisfied that he had made no mistake in his estimate of the value of the property on several former visits he had last week a thorough look over the mine, and what was seen and heard of it, is detailed for the information of those shareholders who have*" not leisure to go and see for themselves, and for the benefit of all those interested in the prosperity of the goldfield, who must feel more or less the depreciation in value of such claims as the Long Drive. The writer proceeds to describe the claim, and concludes by saying that, taking into consideration the extent and value of. the lode already proved, the fair prospect of further valuable discoveries, and the fact that an immense mass of material can be turned to profitable account on a cheaper system of management, we may fairly

conclude that in the Long Drive we have a safe and. permanent investment which will continue to afford profitable returns for many years.