MOANATAIRI.

Mount Ida Chronicle, Volume VIII, Issue 419, 19 April 1877, Page 3

MOANATAIRI.

J The unvarying success which has ate tended the development of the new find in the Moanatahi may be regarded as the principal event of the week. Day after day has the shot 0* gold been proved to be prodigiously rich, without any apparent ailing off in the character Of the stone left in the face. An average of aboiit half a ton of rich stone has been broken dowfj daily, with which the companies' single stamper has been kept occupied in crush-*-, ing, but it is understood that i his operation, has not been kept up for a longer period that an ordinary working day in each twenty-four hours. Daily retortings have taken place, and the first three days' work netted considerably over 5000 ounces'. The excitement over this latest development of mining on the Thame3 has not diminished, but it has not increased sincelast week's summary. Shores have fluctuated, and business has been variable, but shares h.ive not reached a price at which legitimate speculation might he said to be bordering on gambling, because if the present shot of gold should prove to. he as extensive as present indications lead people to believe, it would not take a very long time to pay dividends to the extent of the present price of shares, and from the extent of ground held by the company, the number of payable but poor reefs, and, the possible discovery oi iurther rich shota of gold, it is reasonable to expect that dividends will be forthcoming Irom other sources than the blCck in which the rich stone has, been obtained during the last three weeks.

A later accoiint states :—The usual daily shot was fired yesterday morning, and brought down 10 cwt of rich specimens, which, taken as a whole, were as rich as any obtained before. The shot also inclined the same, and ;here was not the slightest indication of the fode giving out. Several Coromandel and A uckland gentle-* men visited the mine yesterday, and all pronounced the show to be first class. This morning, besides other visitors. Mr*. C. Wilson of the Waitekaruri mine visited the No. 9 reef, and he \vas of opinion that the best of the gold was yet to come. This morning's shot brought down 10 cwt of specimens, leaving a good show in the face. The mine was thrown open to the public between 71 and 12 o'clock to day. Is. per head being charged, for of the Hospital. Over 100 persons availed themselves of the opportunity to see the splendid show in the No 9 lode. It is. probable that the result will bring the week's return up to 10,000ozs. or thereabouts. This is not far offthe best ever obtained by the Caledonian in the same spaeo. ol time.— * Thames Star.'