NEW ZEALAND MINES ON THE AUSTRALIAN MARKET.

Te Aroha News, Volume V, Issue 254, 11 April 1888, Page 4

NEW ZEALAND MINES ON THE AUSTRALIAN MARKET.

Auckland, April 9. Wi, learn on good anthoiity that Mr James Anderson, one of the directors who was sent down by the shareholder of the Marototo Company to report upon the mine, ha:Wined the most sanguine opinion of its hiicee^. Hecabled to hispiincipalsthat the two ton-5 of stufi taken to Sydney by Mr H. >S. Mo^ei*-. and u Inch caused no small excitement their, was not picked s-tuli ; that there aie 25 tons of the stuff ready, also 75 ton*- of medium quality ore, besides a laige quantity of the nche&t gi.ide of ore in sight. Mi Andei-ion intends to ship twenty toti> co !-'ydnu} tv be tieated by \aiious pi oci'*>.c«- and Mr Me>ei-> ha-, also recoimnended that a pai eel be tested here by the Molloy pans. The Maiototo South, which was taken up by anothei syndicate piomoted by Mr Meyoib, contain;- fifteen acres adjoining the original Maiototo. It was floated in Sydney at L' 45,000 in two hours., which lea\e-. CIO, OOO fur woiking the mine, the balance beiny dmded among the syndicate. Mr McMillan of Sidney, chairman of the M'aiototo Company, will be the chairman of the Marototo youth, and Mr C. U. McMillan of McAithur and Co., Auckland, will lepienent the interest of both companies heie. Tlie giound on the other side of the original Marototo, called Marototo No. i and No. 2 E s. tended, has also been purchased m conjunction with other properties, and will most lucely be foimed in another company at some future date. A veiy favourable tepoit has been made by Mi Sea\ er upon Crawfords lease of 75 acre* at llraham-town. He is o/ opinion that .Mime ol the lichest ot the famous reefs of the 'lhamc& lun through this ground. Negotiations aie now being carried on with Mi Meyers for the acquisition of this property. Auangements have been made with Mr Meyers by the propnetors of the Paroquet claim to obtain a leporfc by Mr Seaver on their lease with a \ iew to floating it in Australia.