OHINEMURI. SALE of the CROWN MINE, KARANGAHAKE, and KARANGAHAKE QUARTZ REDUCTION WORKS.

Te Aroha News, Volume VI, Issue 287, 4 August 1888, Page 2

OHINEMURI. SALE of the CROWN MINE, KARANGAHAKE, and KARANGAHAKE QUARTZ REDUCTION WORKS.

Mr W, L. Mitchell reports that the directors of the Crqwn * Gold Mining Company- havje received a cablegram from their agents iri'Glasgow, announcing the completion of the sale of the Crown mining property, Karangahake. We

understand that the negotiations have been conducted on'the following 'basis,: I—That!1 — That ! the net purchase '-money to the' company,; after deducting all commission and brokerage, will amount to £16,000, to bo, paid for either in cash or shares folly' paid tip ; but that, in any event, 'not less than £2500 sterlirig shall be payed in cash. Upon enquiry of the mine manager, we learn that between five and six thousand tons of ore are ready and immediately available for treatment on a , proper plant being erected. In connection with the Crown Company, we I understand that, on Monday last, an offer was made by the Glasgow purchasers of a sum of £1500 for the Railey plant and water-rights, and that the proprietors of this plant promptly replied by cable accepting the offer. Details and further particulars regarding the sale of the Crown mine will be more fully known by mail.

(From Our Own Correspondent.) Paeroa, Friday. It would appear from recent intelligence that matters at Marototo have latterly rather changed for the worse. Mr John H. Moore, the manager of the Marototo mines, has looked the matter in the face, and hns made an accurate and exhaustive report of the mines under his charge. This has had the effect of deciding Mr Plumb, the Chairman of Directors of the Marototo G. and S. Mining Co., Sydney, to come over. Mr Plumb should arrive next Tuesday, and judging from his record as a New South Wales mining man, lie is not the man to cave in at the first appearance of failure. The praiseworthy action of the Warden in regard to manning the ground at ' Marototo and elsewhere, 13 likely to : have the desired effect of a number of hands being placed on the various claims. The Silver Queen, better known as McDonalds Silver Find, is to be started, and will be manned shortly. Mr E. Quinn has been appointed manager. Mr Quayle takes about two tons of the Arizona dirt Home with him immediately. At Karangahake it is rumoured that the Crown mine, in conjunction with the Karangahake Quartz Eeduction Works (Railey's), has been sold on the Glasgow market for £16,000. The erection of the Parkes' furnace hns been delayed for the want of firebricks and sand, which, however, arrived by the Kotuku on Thursday, and is being rapidly carted out. Thirteen tons of Tni ore will arrive at Paeroa to-morrow (Saturday^, per Maketu, from Te Aroha. The scow Margaret has started from the Bay of Islands with 70 tons Bay coal for Messrs Parkes and Chambers, and will be here in a few days. There is nothing new from the other mining centres. I nm informed on reliable authority that a sum of £1500 hns bpen sent out from England to the credit of Mr Ed. Kersey Cooper, who arrives this week. This makes over £2000 in hand to prospect the Jubilee, at Waitekanri.