MINING INTELLIGENCE.

Nelson Evening Mail, Volume VI, Issue 109, 10 May 1871, Page 2

MINING INTELLIGENCE.

0 ' sir. h. j. l. augarde's weekly report. Culliford Gold-mining Company, £10 Shares, £3 10s. paid. The second crushing and washing up have taken place and resulted in disappointment both to directors and shareholders. That the present returns will never pay is obvious, but it rests with the directors to say when they consider the mine has been fairly and sufficiently proved. Let the reef be thoroughly tested by putting through the stuff from whence the 1^ tons came, and then the shareholders will be able to form an opinion of the value of their property. The call of £1, making £4 10s. paid, is>made in order to pay off the debts for which the shareholders are liable, whether the mine pays or not. Perseverance Goldmining Company. £5 Shares, £2 10s. paid. Nothing new. Work progressing. ; Pioneer Shares, £8 paid. Lucky Hit Shares, £10 paid. Masonic Shares, £12 10s. paid. Mount Ophir Shares, £9 paid. Commercial Shares, £21 15s. paid. Dormant. , . Collingwood Coal Company Shares £125 paid. Nothing new. All progressing in the right direction. Sutherland Gobdmining Company, £1 Shares, £l paid. Nothing important this week. , . _ „ - , , Doran's. Gold Mining , Company, £5 Shares, £2 10s. paid. Call of 10s. this week. Beyond this, nothing new. Shares inactive. Our mining world. -is .decidedly ,:at.: a low ebb this week, as all have hitherto looked to the Culliford mine as the basis of future operations, but the second crushing has proved an undoubted failure^ The directors have, been cautious, andY have hot gone into heavy expenses, and' now comes 1 the difficult question' for them to decide, oiamely, has the mine beeu tested sufficiently ? Would it not be better to wait and see how Dorau's turns out, seeing that two reef's have already failed in the Wangapeka district ? We ir«ustTemernber v that we haveihad nothing' but specimens from Wangapeka yet. ' That mining,; in; ; , -Nelson -..is" a most ' speculative matter is ; beyond , a * doubt;! owing X) the patcb.y..and, mixed nature of the grounds. Indeed,- .it becomes a ..question^ whether coin panics <; wjill- pay,;, > jSmall 'partiea'of men, with capital, might j'^o well, bfli '4Uk Success of c'otnpaii ilelf is -"•ver j x4oubtf u 1 .... f ( ; ;>i t j,t ,;iI j:ct;sic>i«'A ,