THE THAMES DEEP LEVELS. SALE OF THE CALEDONIAN AND ADJOINING MINES IN ENGLAND. A NEW LEASE OF LIFE.

Te Aroha News, Volume V, Issue 226, 29 October 1887, Page 5

THE THAMES DEEP LEVELS. SALE OF THE CALEDONIAN AND ADJOINING MINES IN ENGLAND. A NEW LEASE OF LIFE.

Some two months ago Mi.* J. H. Witlieford, 1 mining agent of this city, made the directors of the Old Caledonian G.M.C. an offer, on behalf of an English client. to purchase that Company's mine. Ac, how^ ever, at that time, an extensive crush" ing was being carried on to tesfc the value of the low grade stuff, the directors desired delay. The oifer, however, could not be kept open and the negotiations fell through. The directors, however, at that time informed Mr Witheford that if an offer of £10,000 was received for their ground they would consider it. In the meantime Mr Witheford secured Comer's and Turtle's claim which have the underlay of the Caledonian reef, below the 360 feet level, and communicated with another English client who had previously asked him to recommend to him a reliable mining property. The upshot of this is that a meeting of the directors of the Caledonian was held to-day, to consider the following letter from Mr Whiteford :—: — Auckland, October 24th, 1887. Secretary to the Caledonian Goldmining Company. Sir, —ln accordance with the Intimation I received from you in August that the directors of the Caledonian G.M. Company had resolved to entertain an offer of £10,000 for their mine. I have the honour to state that negotiations I at once opened have been so far successful, that I am now in receipt of a cable message, from London, requesting mo to cable through a» bank that the title is correct, and power of Attorney posted. If your Board of Directors approve I should be glad if the Power of the Attorney could be prepared without delay, that the required reply may be dispatched, assisting thereby in bringing the transaction to a speedy and satisfactory issue. —I am,, etc. J. H. WITHRFORD.

After consideration the directors decided to accept the offer, subject to the approval of the shareholders, a meeting of whom will be convened without delay. We understand that it is the intention of the purchaser of the property, who hasalso Comer and Turtle's under offer to thoroughly prospect the deep levels of this part of the gold field. Completo and accurate plans of Turtle's and Comer's drawn by Mr D. H. Bayldon, mining surveyor, Thames, reached London on October 17th, and the decision in cable just received by Mr Witheford was no doubt brought about by a perusal of the plans.