THE MOANATAIRI CLAIM.

Nelson Evening Mail, Volume XII, Issue 94, 23 April 1877, Page 4

THE MOANATAIRI CLAIM.

■A correspondent writing from Auckland under date 29th March, supplies few items respecting this claim which will be read with some interest by scrip and mining speculators:-^ The history of this country is another instance of the uncertainty of mining ventures, and at the same time shows the chance which occasionally awaits the player of a quartz-reefing game of a " trump card " of the utmost value suddenly being found in hand. Our correspondent writes that "the company had floated 13,500 shares about eight years ago, duriog the first excitement about Hunt's claim and the Long Drive, and the shares were not long in the market before they were run up in value to £14 per share; but as the practical work of mining was then all before them, the price receded witb the times until the shares became unsaleable at from lOs to 13s per share. Tbey had a flutter during the Caledonian excitement, "and managed about thafc time to pay dividends of 5s to 10s, amounting in all to about £20,000, when the crushing stuff again became poor, and for the past four years tbe shares have not been known above 153 to £1 each. About four weeks ago they stood at these prices, when the present rich run of gold was discovered, which has enabled the directors to pay one dividend of 30s, or over £20,000 sterling, and tbey have already in hand for last week's work about B,ooooza. of gold. Price of shares ex div. are steady at ,£lB lOs, which represents a value,, with last dividend, of £270,000, nearly all of which has come into existence in little over three weeks. At present the rich run is lasting of equal quality, b u^fc there is no excitement in the ehare market, the dealing being in the hands of a few, who have paid dearly for their experience in former times. Of course there are many lucky ones, Two merchants hold about 1300 shares each, and ore supposed already to have made about £25,000 each out of it. A family who lost their father last year had, at the division of property about 1400 shares, which were valued at £700, and divided amongst the children. The fortunate young people can now sell out for about £28 000 heiween them. An urchitect bas made £10,000 or'over, aud of course there are many instances of good fortune in .a smaller way. A humble farmer came to town on a visit three weeks ago; he bought £200 worth of shares, aud resold them for £1200, tokicg tbe cool thousand with him as a little present to the old woman, who probably had cautioned him before starting to ba careful with the, saxpencea. Mr Wilson, eeo., the late proprietor of tbe Herald, who died last year, left 600 shares Most of these have been sold at high prices, realising over £10,000 at present values." [Since the above was written the prices have again receded to about one-third of tbe highest rates reached.]