THE CROMWELL REEFS.

Mount Ida Chronicle, Volume II, Issue 59, 18 March 1870, Page 3

THE CROMWELL REEFS.

This week we have little to report from the reefs. The water supply for the Aurora Company has fallen short,, and the result is, that only four heads* of stamps have been kept going. The shortcoming is creating uneasiness, and as yet we have heard of no remedy having been suggested. The stone taken out of Logan and Co.'s Golden Link claim is looking remarkably well, but in consequence of an irregularity of the conterminous water rights, work at the battery has been kept back. The , success which has attended the trial crushing of the Carrick range stone has attracted; considerable attention, and the probabilities are, that machinery will be put upon the ground before long. There is one advantage the Carrick reefs will command over those at Bendigo, viz., a plentiful supply of water. During the last week or two, specimens from the different claims were freely exhibited in Dunedin. Deep interest was taken in them, still there was not by any means an active desire manifested to invest. A few shares sold at pretty fair prices, but the prevailing opinion was, that instead of purchasing o upholders, the capitalist should have a certain interest allotted to him, proportionate to the sum he might advance for erecting machinery. From the information we have obtained we are strongly inclined to believe that this is the only kind ot* co-operation that will be entertained by the Dunedin capitalist. It was "the principle adopted by the Duke of Edinburgh Company at Macraes Flat, and, so far as Ave have ascertained, both parties to the arangement are mutually satisfied. In the meantime the want of crushing machinery continues to operate as a serious drawback.—-'Guardian...' j