MINING NEWS.

Te Aroha News, Volume XI, Issue 1708, 23 January 1895, Page 2

MINING NEWS.

Mining matters on tlie Ohinemuri goldfields are reaching alarming proportions. Eight along the ranges from Karangahako to Waihi the stuff from most of the mines is giving Temunerative returns, consequently the shares are rising by leaps and bounds. Prospectors are at work on all sides,. , and applications continue to be made at the Warden’s Court for licensed holdings, special claims, water-races, etc. It is currently reported that McLean, a well-known prospector, has struck the Waihi reef beyond Waihi.

SILVERTON—FLOATED IN GLASGOW.

The negotiations for the disposal of this mine to a Glasgow syndicate, which hayebeen pending for some time past, have now been completed. A cable has been received from Glasgow advising the floating of tfie company’s mine, on the following terms .-—The allotment to the present shareholders of 18,000 fully paid-up £1 shares, and £4500 cash net, with £25,000 to be subscribed for working the mine, the shares not to exceed 60,000 in all. The shares have been underwritten by a strong company, and the directors here are asked to cable the names of two gentlemen to form a consulting committee. WOODSTOCK UNITED.—PROPOSED INCREASE OF CAPITAL. An extraordinary general meeting of this company is called for the purpose of placing before shareholders a resolution authorising an increase in the capital of the company by the issue of 95,000 new shares of 10s each, 5s per share paid up, thus making the of shares in the companylso,ooo. It is proposed to offer 55,000 of the new shares to shareholder, pro rata, on payment of Is per share ; the remaining 40,000 to be reserved. The meeting is to be held at the Chamber of Commerce, on Tuesday, sth February, at half-past two p.m.