MINING INTELLIGENCE.

Nelson Evening Mail, Volume V, Issue 250, 24 October 1870, Page 4

MINING INTELLIGENCE.

3TR. H. J. L. AUGAEDE' S WEEKLY REPORT.

Culuford Shares, £J 17s. 6d. paid. Shares have changed hands this week at 305., being 7s. 6d. discount. The machinery arrived at the Tadmor Hill safe and in good order on Thursday last. The works are proceeding with vigor. Perseverance Shares, £2 paid. Shares have been a littla moie active this week, several parcels having come to market, and business done at 30s. which for tbe present seems to be the ruling price. The Lady Barkly arrived on Saturday, bringing 130ozs. of the pure metal. This makes £2600 worth of gold from this mine in seven crushings. Masonic Shakes, £12 10s. paid. Inactive, as several directors and shareholders went over to see the mine. A meeting will be called this week to decide future action.

Commercial Shares, £19 10s. paid. No business; a directors' meeting will take place this week. More money is required. Five tons of stuff from the drive will go through the Perseverance battery shortly.

Collingwood Coal Company's Shares, £120 paid. One share on, the market for sale. , The meeting has been held an<J a <sall decided on of £20 per share. As this Company is registered under the Limited Liability Act, and the full amount has beep paid up,, how can they make a call ?, The "company is riot to be extended, " it ' seems, which is an error.

Mount Ophir , Shares, £9 paid. Business inactive. The ten tons of cement, spoken of in previous reports, has been obtained, and is of a promising appearance. It has to go through the Perseverance battery, and good results are anticipated. Waimea South Quartz Crushing Company, ss. paid. Nothing new to record beyond the call due in November. It is hoped that uo delay will occur relative to machinery.

Lucky Hit Shares, £10 paid. Inactive. A meeting will be held this week to arrange mutters and decide the fate of this Company.

Pioneer Shares, £8 paid. No business. Captain Cock has returned in the Lady Barkly and his report will, doubtless, be shortly published.

Our Share market has more life this week, and a few parcels of shares have changed hands, though not at improved prices still thero is more disposition for business. The £500 worth of gold on Saturday make a total of £2600 from a mine consisting of 4000 shares, on which £2 only has been paid. With economy of management, a good interest will be secured to shareholders, and this is all that should be looked for. Reef miniug is in its iufaucy iv New Zealand and shareholders must expect difficulties, delays and disappointments. The Perseverance mine which has been in existence only 12 months contrasts favorably with the various other mines in Collingwood viz. the Lucky Hit, Pioneer, Masonic, and Commercial, which have absorbed some £2000, from which shareholders see nothing in the shape of returns, machinery, or any thing else.

The news from Wangapeka is encouraging, Fawcett's five-stamper battery having commenced work on Saturday. The road between the township and the reefs is beiDg made. There is a meeting of Doran's Company to be held this evening to decide about orderiug machinery.