MINING INTELLIGENCE.

Nelson Evening Mail, Volume V, Issue 179, 1 August 1870, Page 2

MINING INTELLIGENCE.

MR. H. J. L. AUGARDE'S WEEKLY REPORT. Our share market cannot boast of much business this week. Buyers have been somewhat shy owing chiefly to absence of news from the Perseverance, relative to the next crushing. Culliford Shares, £1 17s. 6d. paid, at par without business. The rumors of uncertainty of action relative to machinery tended to stop investment, and caused shares to come on the market for sale. The half-yearly shareholders' meeting takes place on Thursday next. Perseverance Shares, £l lOs. paid. The market has been dull, and the dispositiou to sell, consequently shares changed hands at par. The call ot* 10s. per share, due on the Ist August, with the possibility of the remaining 10s. being called up in September, added to absence of news from the mine caused shares co be thrown on the market. Lucky Hit Shares, £7 10s. paid. No business to record this week. The result of the drive lately put in, not being considered satisfactory the directors have decided to send a competent person to inspect the reef prior to taking further action. The show of stone is considered good. Masonic, £11 paid. Shares heavy on hand. Call of 10s. just made. A fair show of gold came over as far as specimens can be depended on. The proximity to the Perseverance mine gives hopes to the shareholders, but future action is as yet undecided. Pioneer Share?, £7 paid, inactive. Call of £1, due next month, added to the contract for further sinking not yet being taken, is sufficient reason to account for the inaction. Commercial Shares,. £l6, no business. This little company so long in the back ground, has had a small crushing effected by the Perseverance battery, which gave a small return of 7dwts to the toa, which put the shareholders in good, spirits. Whether such an average aided by economical management will pay, remains to be seen ; still it is a better return than was anticipated. Our share mark t has gradually recaded this weak. The many meetings in the various companies added to the cills dur! and under paym3iit, necessarily tend Lo make things dull and shares heavy. As there is no likelihood of any returns from the 4th crushing of the Perseverance, for another 10 days we have nothing to look up to as all our hopes are centered in the practical working of this mine at present; shares of all other mines are affected by this standard. The prospects of the Com ueroial and Masonic improving give hopes of better things, and lead us to believe that in tini3 CoUingwooi will show to the front with regard to the mineral wealth: it is to be hoped that the Pioneer company will soon test their land by further sinking. Oar Wangapeka reefs are looking wall, and before long we shall have Fvwcstt's battery at work. a. the machinery is nearly all on tha ground. The Culliford Cjmpany anticipate having their four-stamper battery in three or four monfcli3. This long desired event will give great satisfaction to the country afc large, as by this means we open up our interior, cause roads to be made, give employment to our laboring population, and an impetus to our* iat present almost utterly stagnant trade.

The Annexation Commission. — We have every reason, says the Grey River Argus, to believe that the report of the Commission will be as favorable as the most ardent supporter of Annexation could desire, and that the evidence which has been produced has fully borne out the allegations which were made by the petitioners in the documents they forwarded to the Nelson Government. It is announced that the International Exhibition to be beld in Sydney, will be opened on the 16th of August and will be closed about the 18th of September. The articles eligible for exhibition are divided into seven classes, the first comprising wool, wine, farm, garden, aud dairy produce, manures, aud implements; the second, materials, applications, and productions connected with the liberal arts; the third, furniture and " plenishing" generally; the fourth, clothing aud its correlatives; the fifth, raw and manufactured products of mining industry, forestry, &c; the sixth, apparatus and processes used in the common arts; and the seventh, food in all its forms. We trust that the whole of our industries will be suitably represented at the exhibition, which may possess a special importance iu connection with the Intercolonial Conference, for some of the strongest arguments which can be found in favor of free interchange betweeu the whole of the colonies will be supplied by an exhibition demonstrating the diversified products of each, and the extent to which all the members of the group are interdependent for the supply of many of their respective wants. To Be Let. — Some young swells' faces ; they are generally vacant. For remainder of News see Fourth paye.