THE INANGAHUA QUARTZ REEFS.

Nelson Evening Mail, Volume XIII, Issue 133, 5 June 1878, Page 4

THE INANGAHUA QUARTZ REEFS.

[From the " Inangahua Heriald," 21st May.] In our present issue we publish the Mining Returns for the y?ar ending 31at March, 1878, showing the quantity of gold obt lined from the quartz workings in the Inangahua district, the number of toDB crushed, the amount of capital called up, aad the dividends declared. Tbe calls made exhibit a Blight increase over the amount of the previous 'year, but they bear a smaller proportion to the amount of dividends declared, so tbat the increase in this respect may be regarded se a healthy indication rather tban otherwise, since it shows that the number of progress companies in operation haa increased, thus laying the foundation of future dividend-paying mines. With respect to the gold yield, tbe most noteworthy increase is in the retarns obtained from theKeep-it-Dark, Just-in-Time, Welcome, and Caledonian Mines, which collectively yielded 11,661-r-zs., as against 1697 ozs. for the previous year. The Energetic Company also shows a marked improvement. The Hopeful, Golden Fleece, and Wealth of Nations, show a alight diminution, and the No. 2 South a large falling off. The average yield from all the mines is somewhat below tbat of previous year, notwithstanding the splendid yields from the Caledonian, Welcome, Hopeful, and Just-in-Time, bet this may be explained by the very unsatisfactory results obtained from the crushing of the Dauntless, Extended, ftpd„ Anderson's Extended Companies' Stone, which gave an average of about 2^dwts per lon, a result which it is needless to add was not payable. The yield from Rainy Creek, ami from the alluvial workings of the district is not included in the above returns. The Phoeniy, Alexandra, Victoria, and Vulcan Companies do not appear as producing mjnea during the past twelve months, but better hope is entertained respecting them. The Perseverance Company will be crushing in the course of a few weekp, and of the Union Comphny at Devil's Creek, for which machinery is at present in ouree of »rect iftn,:-** very . favorable opinion? 'are entertained. The Victory Company, whose mine formerly belonged to the Band of Hope Com pauy, which some years ago passed into liquidation, will crush a email parcel of stone at the Energetic Company's battery in the coarse of a montY, and they are rather sanguine that the stone will prove moderately payable. Looking at the entire yield, however, we think it is doubtful whether the dividends during tbe current year, or yield of gold will be so large ac during the past twelve months. The return referred to is as -*■* follows : — Return of Quartz crushed and yield pf Gold ie the Inangahua district for the year ended Slst March, 1878 : — Tons. Ozs. Wealth of Nations ... 9589 5011 Golden Fleece Extended 4140 6122 Energetic ... 11,600 5952 Keep-it-Dark 8141 5123 Hopeful ... 3187 6975 Welcome 720 2619 Just-in-Time 1652 3148 Caledonian 120 771 Fiery Cross 427 263 Italian Gully 240 254 Nil Desperandum ... 230 127 I^o. 3 South Larry's ... 244 52 Anderson's Extended ... 45 0 61 Inker man ... ... ... 787 155 Dauntless Extended ... 420 48 41,947 36,691 Dividends. £ a. d. Wealth of Nations ... 7800 0 0 Golden Fleece Extended ... 13,200 0 0 Energetic ... " 6300 0 0 Keep-it-Dark 6583 6 8 Bopeful ' ... ... ... 15,675 0 0 Welcome 8250 0 0 Just-in-Time ... ;.. 4200 0 0 Caledonian „.. 1500 0 0 £83,508 6 8 In the above return the figures are chiefly for melted gold,, but some was reported gold only. The number of tons is in some cases only approximate, where the power of the battery is wellknown and the proprietors of the mine and mill are identical. During the twelvemonths the amount of capital called up was £28,703, divided among 85 companies. The average return per ' too of quartz was, for 1876, 14 dwr. i,6grß. ; 1877, 18Jwt. 7grs. ; .nd for 1878, I7dwt. |gr. The amount of dividends- disbursed during the five years ended 31st March, 1878, was respectively — ■ £13,000, £27,515, £56,612, and £63,508. The above ■tatisties are very conclusive of the progress of bur quartz raining industry, and that the future prosperity of the district rests upon an assured basis.