MINING INTELLIGENCE.

Nelson Evening Mail, Volume V, Issue 261, 7 November 1870, Page 4

MINING INTELLIGENCE.

MR. H. J. L. AUGARDE'S WEEKLY REPORT O Culliford Shares,£l 17s. 6d. paid. No transactions to record, a few shares ou the market at 80s. The machinery has reached some distance in the bush, without mishap. Perseverance Shakes, £2 paid. No business. Several parcels of shares are ou the market at par, hut there is no disposition to invest. We may calculate en a fair return of gold this month from the eighth crushing ; the shareholders meeting will take place on the 21st iust., and being the fi:st half-yearly meeting, many •questions of moment will be brought forward, the most prominent of will be the water supply. Pioneer Shares, £8 paid. Dormant. Captain Cock's report, which is favorable, will be published this week. The indications are as good as ever, but capital is required to work the miue ; this of course wa3 understood in the first instance, and foreign capitalists are to be invited to aid in the undertaking, and it is to be hoped that success will attend their efforts. Lucky Hit Shares, £10 paid. Dormant. The meeting of shareholders is adjourned till Monday(this day). OOLLINGWOOD COAL COMPANY'S SHARES, £140, paid. No pusiness ; one or two -shares on the market. This Company •have extended theircapital, and the work is •proceeding and coal coming over. Commercial Shares, £19 10s. paid. H\o business ; this Company has 10 tons -of stuff now ready for the battery. Good -specimens of this gold can be seen at Mr. Gome's. Masonic Shares, £12 lOe. paid. Nothing doing. Mount Ophir Shares, £9 paid. The meeting passed off satisfactorily; the good returns from the crushing will induce the present leaseholders to form themselves into a Company duly registered. Waimea South Quartz Crushing Company, 5s paid. Call due on the 15th inst. The atmospheric battery, alluded to long since is daily expected. The iLegal Manager sailed in the Phoebe for Auckland to purchase another battery, so as to have two batteries on the ground. Our share market .has nothing to speak -of but stagnation this week. The report on the Perseverance mine has certainly tended to this position. It has caused many shareholders to offer their shares for sale, but happily our markets are so limited that, in the absence of foreign capital, they are unable to sell and consequently must hold on. It is clear that -ibis mine, as well as the district at large, is safiericg from want of water, which, as -the sommer advances, will be more -sererely felt; therefore it becomes all parties wbo are interested to seek a resssdj for this- evil, and cot to sit down SsHs aodl fifeeonfoesied. Mining i3 a zi sE times, and is always attended •!sriiit2a Tzsks and cucertaioties, and often tsfs& hs&Tj losses. Shareholders must E©i exm.-ct s fortune at once, or immense i tsAvtbs on an outlay of £2 or £3 a *lsare ; time, patience and capital are the requisites for money ißakiDg in mining. The petition to bis Honor the Superintendent for assistance in order to bring water power on to the auriferous ground at Collingwood is a move in the right direction for the ■district at large ; it is not for the Perserance mine alone, but will benefit a large mining district. Conversation with any working miner will prove this fact. Wangapeka is looking up. Fawcett's battery is woiking well, and the look of •the plates is encouraging. Culliford's Company are pushing a-head, and the battery will soon be on the ground. Doran's Company is at work in earnest, a five stamper battery, with shafting for 10 stamps is ordered from Mr. Moutray, thus keeping Nelson money in the place. Mr. Bain has gone up to lay off tramway and water race, &c, thus no time is being lost. Wangapeka will soon boast of five batteries at work, which will give employment to many men, and be the means of opening -up an undoubtedly rich country, and restore activity to our at present stagnant trade.