LATEST TELEGRAMS.

Te Aroha News, Volume VII, Issue 450, 1 March 1890, Page 2

LATEST TELEGRAMS.

(By Electric Telegraph); (FROM OUR OWN CORRESPONDENT), LATEST FROM AUCKLAND. CALEDONIAN G. M. COMPANY. ANNUAL REPORT. AUCKLAND, Last Night. The report of the Paledonian Gold Mining Company was submitted to the annual meeting to-day, and regretted the unfavourable returns from the years crushing, but hoped better prospects were in store for the future. Another •puli’ will be made on Wednesday next. PUHIPUHI TO BK OPENED UNDER "the provisions' of Tnk mining ACT. ‘ ' " : STILL DISSATISFIED AT 1 ■* WHANGAREI. ‘ ' . NEW COMPANY’S BEING FQRRIED. FURTHER IMPORTANT DIS- " ' ‘ " WHANGAREI, Last Nig(it. The determination of Government to throw Puhipuhi open under the provisions

of the Mininsr Act bus «vius<*d gpeat surprise here, as tlie people have been told by Ministers tint speciijl jvgul itiußS woijld be framed with a view to granting leases. Quite twenty cotppanies bad been formed and had prospectors in the forest, and many have discovered re.efs. The change was intended'to secpre under thirty-acre leases. The fqct of the forest being opened under the Mining Act will give every holder qf a Miners Itighf the power to peg off one jpan’s ground and thus split the np into uselessly small area. The feeling the Government is now more bitter than ever. A quarter share in the Prospector’s claim changed hands early this wee); at Ll5O, and on Tuesday L 450 was refused for a half share. Singes in the Tamatfpvhinau syndicate, who hold 1,20 C acres of freehold land on the boundary of Piihipuhi are quoted at the same value as the Prospectors, and a Company is being formed in Melbourne with a capital of LIOQ.QOq to /operate this block. 10.000 shares have been taken up locally. Another silver lode bps been found in the Prospector’s workings, as rich as No, 3 reef. This lode is at the opposite end of the claim.

LENDING OF BALANCE N.Z. LOAN WELLINGTON, Last Night. The Colonial Treasurer declares he knows nothing re lending the balance of the New Zealand Loan, as stated in the London “Telegraph.”