MINING INTELLIGENCE.

Nelson Evening Mail, Volume VI, Issue 61, 13 March 1871, Page 2

MINING INTELLIGENCE.

ME. H. J. L. AUGARDE'S "WEEKLY REPORT. CULLIFORD GOLD-MINING COMPANY. £10 Shares, £3 10s. paid. The notice issued by the company calling up arrears without delay, or else legal proceedings will be taken, tends to bring shares into market, and they will therefore change hands at a very low figure. There is no doubt that the company cannot go on without funds, and every shareholder was quite aware of the responsibility he undertook when he either applied for or purchased shares, and it is more legitimate for the directors to make a call when money is required than to run up overdrafts at the Bank, for why pay interest and thereby lose money when they can draw on their own bank, i.e., the shareholders? Mr. Binney has returned, having finished putting up and arranging the machinery. There remains only a small matter relative to water, as well as a little cash required, and then the shareholders will see the first act of a drama that will, it is hoped, run for many years to come. Perseverance Goldmining Company, £5 Shares, £2 paid. The , shaveholders meeting resulted in the election of Mr. Joseph Harley, as a director, in lieu of Mr. Sclanders, resigned. A call is announced for the 10th of April next, making £2 10s. out of £5. The Legal Manager has been to Collingwood relative to the contracts for the extension of the waterworks, which has been taken for £938. Notwithstanding the large amount of paid-up shares on the market, there are a few purchasers at £l per share of £2 paid. It is hoped that the new works will be vigorously carried out, and that the shareholders will derive a substantial benefit in the shape of dividend and bonus at no distant date. Pioneer Shares, £8 paid. Lucky Hit Shares, £10 paid. Masonic Shares, £12 10s. paid. Mount Ophir Shares, £9 paid. Commercial Shares, £21 15s. paid. Inactive. Collingwood Coal Company Shares, £120 paid, £20 per share called. The gentlemen belonging to Nelson who were nominated to the direction have agreed to serve. Mr. '"M. M. Webster, one of them, wont over to" Collingwood, to arrange matters, and we may soon hope now to see one of our natural resources opened up and fairly worked. Sutherland Goldmining Company, £1 Shakes, £10 paid. Nothing new, directors confident, and anticipating good results. Doran's Gold Mining Company, £5 Shares, £2 10s. paid. The Legal Manager has returned from Wangapeka. The contract is taken by Wordsworth for conveying the machinery from Nelson to the machine-site for £16 per ton. This ia a low figure, and shareholders will see that the road-making done by Government tends to a great reduction in the price of carriage. Waimea South Quartz Crushing Company, £1 Shares, 10s. paid. Call on

2lßt instant of ss, making 15s paid. Beyoud the confirming of the appointment of the provisional direction, nothing of any moment occurred at the shareholders' meeting last week. Our share market is dull and inactive, calls, &c, tending to make it so. The Culliford Company are nearly ready for crushing, machinery all ready, and tons of quartz at the machine site, so we may shortly look for active operations. Money seems the only drawback, and all overdue calls are required; as thestf will soon be obtainable, we may eaj^ect to hear of the expected first cabining very shortly. Donm'a contrac^for conveyiug machinery to (he site is taken, so this company will soon be U work. The "Wairaea South are getting along, thus our auriferous country will be tested, and although a deal of time has elapsed since these companies started, still, when the difficulties of conveying heavy machinery over mountains, which some years since were looked on us impassable, except to roughriders and stockmen, are taken into consideration, shareholders must not be impatient, nor desponding. Who can tell but what we have a "Caledonian" in the Wangapeka ? From Collingwood we have good news. The Perseverance contract has been taken jit a fair price, and the Col ling wood Coal Comp'auy likely to go a-head. Thus our mining news is on the whole favorable, and it is to be sincerely hoped that our speculations will be remunerative eventually.