MINING NEWS.

Te Aroha News, Volume V, Issue 212, 23 July 1887, Page 2

M I N ING NEWS.

WAIO It O N U 0 M A I, A coui'i.ii of weeks back Mi* John Abbott, the well Known Auckland fmancier, paid To Aroha und Waiorongoiuai a visit, rumour slates, in connection with the proposed float ing of a largo mining company on the London market, to include liio New Kra QuarU Reduction Woiks, ami the special claim taken up by Mr 1\ Ferguson at tlio beginning of the present year. We do not know to what extent Mr Abbott is interested in the. proposed company, or (He arrangement-; entered into with Mr Ferguson, but the fact remains tint, Mr Ferguson sailed far ftondon in the mail steamer Zealandia from Auckland on Monday last ; with the avowed object of floating a company, as already lefeired to. The property comprises a very valuable area of auriferous land, and the New Era Q. l\. Works, lately orevtod at a cost of about £10,000, has comuiuiiicition i>v giound tramway with all parts of the \V.iu>rongoiu ii gold Held; ami the one thing neede 1 to start work on an extensive scale is capital. With some fuither outlay and improvements the company's property should } rove- very valuable. We wish Mr Ferguson success in his mission. Battery Returns. — The returns from lust monthly clean up at Messrs. Filth and Clarkes batteiy was as follows : — New Find : 150 trucks, 2030hs ; Colonist : 21 tnu-k*. Ooji.j Total, 21i2 oh*, retorted gohl. 'I he New Plant. — The erection of the new revolving furnace plant, and acces voiles thereto, is being pushed ahead rapi lly. Tue tonsti action of the coudei sing chambeis is now practically completed. Dm ing the j>reaent week t ie l»ody of the luinace has been put together, and plami in position, resting on four friction rollers attached to th^i shaft, the revolving of which sets tiie furnace m motion. Theiv aie also fiiction i'ollcis fio'it and tvir. Oncr«)\v of bi'V lans have already bom reuiovetl fiom die batteiy house, and the second row will shortly follow, and in the t»pace they occupied will be constructed tailing pits.

TK AHOII A. Tiding aie now iviriLr anviously looked lor by every mail horn London with aspect to the lloatiug of m.nos at Tui. Both (he promoters of the Cuampion lodes, Mini other northern claims ; and aloo of several claims further south (the two piopo^vd companies U'imr quite dihtinetj have had iiiioimatioii iccently of an encouraging natme x but fuller details with respect to the prospects of the proposed companies should ceitainly soon be to haul. The W.irdeu, being fully aware of the eft'oits that are being put forth by tho;>c who have the mat* or in haul, and of tlu cable messages received, has renewed protection for a fuither period of three months to thcut? claims ; after the lap^e of which time, men will ha\e fo lie jiuton lo work the ground, whether these proposed companies have been formed or not ; although no doubt at the exp'uation of the picsent teim of protection, the Warden will take into consideration the position and prospects of Engli-h capital b'tiiig introduce I, with reference to the number of men that will have to be put on. From information received within the past few days we believe a very few weeks now will decide as to whether the proposed companies abuve referred to, will be successfully formed.

V/AITOA. "With respect to the auriferous deposit, frequently refeired to in tlicso columns as having 1 been recently discovered in this district, there is no fresh news to. report. Mr. J. B. Smith, on whose property the principal deposit exists, is at present from home, having gone South with | Professor Uutton. On his return no ! doubt he ill make known what course he proposes to adopt with respect to j developing the discovery.

The amount of gold purchased by the Bank of New Zealand for the month of June, Iso to 30th, amounted to 29290z5. JSdwts, which is made up as follows : — Thames County, 1243 ozs Bd\vts ; Ohinemuri County, 17'Jozs 13duts ; Piako County, 3420 as fulwts; Thames Borough, llGtozs ]2il\vts.