THE SOUTHERN CROSS COMPANY.

Poverty Bay Standard, Volume IX, Issue 996, 8 November 1881, Page 2

THE SOUTHERN CROSS COMPANY.

Considerable interest is attached to the last report from the Southern Cross Company’s works, from the fact of the second bore having struck good solid rock, it is a light-colored schist, and the contractors state that there are laminations of calc-spar. There is a plentiful supply of water with petroleum, which rises eighty feet in the tube, with an abundance of gas ; as this flow is, of course, from the lowest depth attained, all other sources being cut off by the tube, the evidence is pretty clear of an approach to the oil-yielding bed, which we sincerely hope is not far off. Owing to some reason the contractors had not tubed as far as the solid, and a slip of gravel or stoney mullock, caused the loss of the hole. A delay of about a week will be caused by this accident. The Bosina will take the new footpiece to-morrow, and will, in return, bring the paraffin mineral for the Melbourne experiment which is so anxiously looked forward to by shareholders. From private advices the shareholders in Melbourne have expressed great satisfaetion at the decision of the Board relating to this practical test. We understand that Mr. Stubbs goes over with the mineral to be operated on, by the next steamer for the South.