MINING.

Te Aroha News, Volume XII, Issue 1766, 31 August 1895, Page 2

MINING.

This Te Aroha mining has been attracting a large amount of interest during the week, and a considerable amount of business has been done on the local suaremarket. Mr Snewin s notice board containing the latest quotations has been eagerly watched by speculators and others. On Wednesday. last there was a fair demand for Golden Crown’s, but tbe demand has eased off. The Cadman received some notice, and several • shares changed hands at £4O each. Yesterday Stoney Creek stock was in demand, several sold at £lO, the market closing with sellers at £l2 10s, A large number of new claims have been pegged out and applications lodged. All the available ground between Karangahake and Te Aroha trig, and from the Rotorua Gorge to the Tui has been pegged out.

' HOT SPRINGS No 2 , The shareholders of Hot Springs No. 2 L.H. held at meeting in Mr P. Snewin‘s office last evening. Mr Smardon occupied the chair. Mr Snewin was appointed clerk to syndicate, and Mr Knock treasurer. Mr Roycroft was employed as a prospector for one month, and will commence work on the Association s property immediately, with a view of testing the ground. It was decided to enlarge the company and extend to SO promotors shares, 20 of which are now to be had on application at £lO each. The money thus obtained is to be spent in developing the mine. ; WAIORONGOMAI The new company at Waiorongomai have put on several men during the past week, and are still pushing forward their drive through the main lode. Their prospects are considered highly.satisfactory. .

IMPORTANT FIND AT TE AROHA For several months past two local miners have beon prospecting in the vicinity of Te Aroha, and as a result o| their patience have discovered a, good looking reef, which gives excellent prospects. A small syndicate of Auckland and local gentlemen have determined to secure as much ground as possible on the lino of reef, and a meeting is called at Suewin’s office for Monday evening. The list is full, and a great many applicants have been refused. i STONEY CREEK. .-A

f, A-meeting of shareholders in the Stoney Greek -Syndicate was held in Mr Snewin’s office on Thursday last, Mr T. Gavin was voted to the chair. After considerable _ discussion it was decided to place the property on the market- at once, on the following terms. To form a company of 80 share of 1000 scrip each, 35 to be offered to the public at £25 each, 35 go to the pi-omotei-s, and 10 shares to be reserved for the company. The whole subscribed capital, less expenses, to go to the development of the mine.

’ i WAIHI SOUTH MINE SOLD IN ; " . LONDON. . AUCKLAND DIRECTORS’ TERMS \ f ‘ ACCEPTED. Auckland, Thursday. About* 2 o’clock this afternoon, the following copy of a cablegramjrece ved frdm London was posted on the- 6 ocv Exchange: “Waihi-South, Auckland, -■—Directors proposal accepted.’! The terms to which the directors agreed were Auckland shareholders tojreceive 67,000 fully paid-up shares, and £25,000 cash for working capital in a new company, -to have a total capital of £175,000. Shares immediately advanced again to 3s 3d. Tauranga, "Friday.

Considerable surprise has been expressed here at the action of the Government, when extending the boundaries of the goldmining area, in drawing the line at Waipapa stream, which is! half way Tauranga and Katikati, thus excluding Kaimai and Te Puke, both, known to be quartz-bearing. The boundary should have been extended , at least- to the Kaituna River, east of Te Puke township. Had this been done, several licensed holdings would be applied for.' "

News has been received here that a claim has been pegged at Katikati, behind the Woodlands Estate. ;; H^TE; TUKE and katikati. Rumours have been current for some time! past regarding gold being found in tbe neighbourhood of Te Puke. It is stated that Mr Tilsley, the wellknown prospector, has found some large bodies of auriferous quartz, with splendid water power available for theii development. The property, which consists of r OO or 600 acres, has been purchased by Mr M. Fleming, one of the late owners of the Earl of Glasgow mine, Karangahake, on behalf of a wealthy syndicate, who intend to develop its resources with the advantages that an ample supply of capital can offer.

ANOTHER NEW FIND

REPORTED DISCOVERY OF THE MARTHA AT MATAURA The continuation of the now worldfamed Martha lode has been repeatedly sought for, but up to the present no person has been fortunate enough to pick up outside the Waihi Company’s property this steady bullion producer. On Thursday, however, in.o rnation reached Paerea tsp’a lodej

had been discovered at Mataura Valley by a party of prospectors Jnamed Long and others, and as its bearings is a direct north-east and south-west course from Waini, the party claim they Kaye now got possession of the Martha in the locality mentioned. Mr Hollis one of the party, states that the blow of the body of quartz found is from 70 to 80 feet wide and gives good prospects, while he also had assays made, but information concerning this he did not wish to divulge at present. The news naturally caused great excitement in Paeroa, and we understand a good deal of pegging out is now going on at Mature, in view of the reported discovery of the Martha.