MINING.

Te Aroha News, Volume XII, Issue 1767, 4 September 1895, Page 2

MINING.

The mining boom in Auckland, shows no signs of abatement, and judging by the number of companies being floated and the scramble for promoter’s shares we do not think the boom could suddenly subside. Of course, the excitement may cool, but there is one feature in the present mining matters which must guarantee the stability of mines which are floated. The fact that a large portion of the money subscribed by the public goes into the working of the mine secures investors in our opinion for many years to come * It is not anticipated even by the most -sang) i ie that all these mines will pay, but if one mine in every. ten in * the lbng run proves a Crown or a .Silverton the'goldfields of ourpeninusula will come a good second in the goldfields-of the world. In time to come the host of smaller claims will amalgamate and become one, probably dozens, of names: by this means will drop out and the ‘duffers’ or unprofitable areas will thus be submerged* We can thus foresee that the future of ,our nUrifei'ouepf’uinsula will be dbtted. bv the names of claims all gbld-p.ro-duciirs, and there will be no duffers to seri iusly hamper aud hurt the ipteret'>f our goldfields. . ' In local mining matters syndicate •shares in the various stocks are changing hands daity. Te Aroha has not as yet seriously moved jn the direction of floating any of the.. claims; but we are confident when they are floated they will be good ones The syndicates operating the -dozen or so loc i 1 claims d , not intend put ing any ii different stuff forward. In the case of the Stone3 r Creekhow under floatation the ‘number of ounces to the ton’ will, we are confident, surprise the Aucklanders.-. ; V The Starlit-Dell is put forward as the second claim for the favours of investors, and it is intended to float this mine in Auckland next week. The syndicate who own the mine have done a lot of work in driving, and their • reward is an extensive reef running through the property carrying" good gold throughout. The Euglish speculator is the kind of visitor who turns up occasionally and, meditatively walks, our streets. He generally hears much and says little; We are always happy in re- | ceiving visitors of all sorts and con- | ditions, but in case of a;‘ foreign capitalist,’ we simply indulge in more frantic speculations as to his intentions; and so forth, than we do in promoter’s shares. The latter article is getting rather numerous at present, and the former—the gentleman with the £1 a day for looking around—well, we imagine any hew visitor with a high hat and stick to be another capitalists gent, and still the genuine ones come ! In the'case of treating with the touring foreign capitalist the Te Aroha syndicates a; e not eager to deal Nor areTe Aroha goldmine owners at all anxious to pop off th* ir c'aiais in the l : proverbial;* quarter, of an hiur.’ We believe in doing legitimate business—even goldmine business —in a steady happy-go-lucky sang-froid kind of way and we are going to come out trumps in the case of all our mine flotations while the English capitalist is looking on. Meetings-of syndicates in Te Aroha are at it at least six days a week—and not seven days as somebody affirmed. This field and Jhis mountain of ours must be looked after, and our syndicates are doing the thing properly. If the boom increases in density and intensity the various syndicates operating in this town had better amalgamate and in the .panning-out process to follow—-divide.