BRITISH CAPITAL FOR THE THAMES

Te Aroha News, Volume XI, Issue 1735, 1 May 1895, Page 2

BRITISH CAPITAL FOR THE THAMES

IMPORTANT MINING ENTERPRISES.,

Th 6 rapid and extensive development of mines in the Waihi and Karangahake district, is now attracting serious and widespread attention, and several visitors and experts from London and Australia have been looking round these.. districts. with a view of ascertaining' for themselves the true value of the mineral deposits there. No doubt the - steady- and continuous returns from the Waihi mine, have made the Thames district well known in mining circles and amongst mining V speculators, all over the world, whilst the returns from the Hauraki misie for the past two months have eclipsed any- j thing yet obtained from Coolgardio, and have - made Coromandel also famous. •

There seems every probability that mining will now jJje established on a .permanent basis, 1 and that the capital so necessary to open out the valuable quartz reefs known to exist in the goldfields, will he readily subscribed in’ ; London for all fair and legitimate enterprises. Some-of the recent visitors •„ are gentlemen of great mining experience, and some of them are wellknown capitalists of high standing' on the London Stock Exchange. It is reported, on good authority, that one of the mines to be taken, over and developed, is the Woodstock mine, at Karangahake, which is to be taken in hand by London capitalists, who will at once find £25,000 of new capital, and more if it should be required, to open out tbe mine and.ere ct. a large additional crushing plant to * ‘meet all necessities. The details of the arrangement are expected to be fixed in the course of a few days, when they will be published and submitted . to the shareholders for confirmation* The capital of the new company will .probably be fixed at LI 50,000. . - A new company to take over the Golden Cross and Komata mine,- in the latter of which is now included the old and'well-known Waifekaun mine, will shortly be placed upon the London market, and its successful floating is assured, as it has already been syndicated there by Mr Thos. Russell. There are some legal matters • k yet to be arranged before the prospectus can be issued in London, but the. books of the old company here will shortly be closed. Tho new company . will have a capital of -.£150,000 in shares of £1 each, and out of this amount ample working capital will be; obtained. The present shareholders are to have £ 1 per share refunded to them in cash, and paid-up shares to the amount of one-half of their .present holding will be issued to / them.. oiit of tho capital 15,000. shareware, to be reserved for future issue,'-; whilst a sum of £35,000 in cash will be immediately available for the working of the mines. Wo learn, .on excellent authority, that instructions have been . - received from London to complete forthwith all the details . that are necessary to bring together a large and complete crushing plant.—-Herald.