MINING CRISIS AT THE THAMES

Mount Ida Chronicle, Volume VI, Issue 348, 6 November 1875, Page 2

MINING CRISIS AT THE THAMES

Mining on the Thames Qoldfields has received a decided check by the stoppage of the Bright Smile Company's pumping -works; and as stated ina telegram from "Auckland recently; some three hundred' minei'a have been thrown out of employment. More recent information from a private source states that a great number of - men have left (he field. The Bright Smile mine is situated in the Waiokaraka, a portion of the Thames G-oldfields which for some time past has been the principle source of profitable' labor, the Queen of Beauty, Queen of the May, City of London mines, being the most .payable- properties in the district.. These mines and the Bright Smile, being on the one line, of reef, one powerful pump was suficient to drain the whole of them, and the Bright Smile Company performed this work efficiently until lately, when they were compelled to stop by failing to meet their engagements, and the consequence is that the 4 water has risen in the lower levels of' the surrounding mines, and not only thrown many men out of work but considerably reduced the general yield of gold. A crisis of the kind is always severely felt on a G-oldfield. : In the case of the Thames it is particularly unfortunate, because gold mining there has become a settled industry. A large seetion of the miners are men with families ; and a large majority of the population are bound to the place by ties of interest, their capital being locked up in the field. Auckland also suffers from any falling off in the mining industry, gold being a large item in the exports of the province. The present difficulty, however, it is'not calculated to have-a lasting effect-, as it arises out of the weakness of' one company alone, and that weakness is due principally to rash speculation. The Bright Smile went to enormous expense, which their position scarcely warranted, to erect a powerful battery on the site of the mine, with the object of crushing quartz at a low grade, the transit to distant m ills being too expensive to make the crushing payable. The Loan Company are dissatisfied, and hence the stoppage; but it ia not calculated to be of long duration, and in any case the surrounding mines will take steps to secure the drainage of the district, most probably by amalgamation of the several interests concerned.—' New Zealand Times.'