THE Thames Guardian AND MINING RECORD. MONDAY, OCTOBER 23, 1871.

Thames Guardian and Mining Record, Volume I, Issue 14, 23 October 1871, Page 2

THE Thames Guardian AND MINING RECORD. MONDAY, OCTOBER 23, 1871.

“ A heavy blow and great discouragement ” awaits a great number of people calling themselves “ sharebrokers.” If the “ Sharebrokers’ Act, 1871 ” becomes law, of which there seems every probability, a large number of the existing fraternity will have to go to the wall. In future every “ sharebroker ” will have to pay down a yearly license of L 25, and must also enter into a bond of L 2,000 for himself, and two sureties of L2OO each, that he will not buy or sell for himself. They are also to keep books of account, in which their transactions are to be entered, and these entries are to be shown on demand to persons for whom sales are made under penalty not exceeding L 100; and are also to be disqualified from ever afterwards acting as sharebrokers in the colony, These and other stringent provisions, which we published in our issue of Saturday, are calculated to make a great alteration in the manner in which mining stock is to be dealt with. Hitherto anybody could take up the business, and as a great many started on the great principle of having all 'to gain and nothing to lose, a vast amount of curious business has been done. Transfers have been negotiated without their being properly filled up, and property has often changed hands half a dozen times without much trouble as to the stamp duty supposed to be payable at each transaction. At the corners of streets, in public-house parlours, on board the steamers, and in all sorts of queer places has the business of sharebroking been carried on, often in a very loose kind of way. Many of the socalled sharebrokers have admitted in the witness-box that they have no office or place of business, and pick up their customers in the streets, or anywhere they can find them. The new Act will be a wholesome check to this noble band. Not that we suppose for a moment the new bill will make everybody honest all at once, or that it will entirely keep away all the “ lame ducks ” from the community. Where the carcase is there will the stockjobbers be gathered together —for stockjobbing and sharebroking are not identical, and where there is the chance of making a shilling easily we may be sure there will be plenty ready to take advantage of it. Among the manifest advantages, however, of the new Act will be these, that the bona fide seller or buyer will be able to know the legally licensed practitioner from the outsider. Everyone knows how, in all professions, there are outsiders who follow in the wake of the “regular dustman.” Thus, in the law, the writ that is served by Spinks is issued by Jinks, and in the medical profession the quack, on a large scale, is often in partnership with some one who has a diploma licensing him to physic and poison according to law, and so it is throughout almost all trades and professions. To expect, therefore, a flock of altogether pure marinos amongst the crowd of sharebrokers would be ridiculous ; but as there have always been respectable men amongst them, so we believe there will be tor the future, and the guarantee which will have to be given will be some sort of security to the public. The respectable broker, we believe, will hail the new Act as a useful measure, and one which the present state of things on the goldfields imperatively calls for. It may not do all that is expected of it. Few, if any, Acts ever do. But it is, nevertheless, framed in the interest ot the public, and of the honest, straightforward man of business also. The establishment of Stock Exchanges, with rules framed in accordance with those of the London Stock Exchange, which is provided for by the Act, is also calculated to be of great benefit. Upon the whole, we look upon the bill as one of the best measures of the present session, and hope it will become law. Under this bill we hope to sec an improved state of things introduced in sharebroking transactions, and although, as we have intimated, we don’t suppose it will turn a rogue into an honest man, or effect miracles of any kind, it is a step in the right direction, and is an indication that the attention of the Legislature is being drawn to the subject, which is a most important one to this goldfield. Upon the good management and proper development of these goldfields much of the future prosperity of this province, and, indeed, of the whole colony depends. If we can establish a good name also in other colonies and countries for the straightforward business-like manner in which our mining affairs is carried on, we shall have advanced the trade and commerce of this place in no slight degree. The richness of the Thames Goldfield is attacking the eyes of many, who now hesitate to invest :.u its claims on account of the uncertainty of tenure, and the loose way in which business is transacted. The new Goldfields Bill and the Sharebrokers Bill are calculated to work a change for the better, and for this reason we hope to see them assented to and become embodied amongst our statutes. If they tend also to lessen the great amount of litigation on the field, they will effect a very beneficial change, but upon this point we are not very sanguine. .As we stated in our issue of Saturday, it is our intention to publish these Acts in full, when the public will have an opportunity of judging for themselves of the merits of the proposed measures, and of the probability of their working for the good of the public generally.

The contractors for the extension of the tramway in Tinkers’ Gully are now in full working order. A large number of men are at work making the cuttings and building the culverts over the creek. The first incline is a very steep one. being at the rate of 1 in 0, but from that up the gradient becomes easier: This work, when finished, will greatly assist in opening up a really good district, from which some returns may soon be looked for.

We understand that the Naval Voluutecr Band will lend their valuable assistance at the temperance meeting this evening. A large gathering is expected. A case will be brought before the R.M. this morning in which a husband prays for sureties of the peace against his wife, in consequence of her violent conduct towards him. A youth was taken into custody yesterday and will be brought before the R.M. this morning, on the charge of stealing a watch from a house where he had to leave a newspaper. Mr. Sub-Inspector Bullen left for Coromandel on Saturday morniug by the ‘ Challenger,’ on business connected with his department. Mrs. Colclough (Polly Plum) delivered a very interesting lecture on “ Marriage,” at the Young Men’s Christian Association Rooms on Friday last. It was well attended. The Marlborough Express publishes an interesting letter from its Havelock correspondent, from which we make the following extracts : A serious epidemic is at present raging amongst the Maories, which lias proved fatal in one case, and several are now down with it; it is a sort of swamp fever, no doubt greatly increased by the wretched manner in which they live. I have much pleasure in communicating the fact of a railway in the Kaituna Valley. The road is. nearly completed from Mr. Brownlee’s saw mill to the Kaituna River. The mill is situated about one mile to the south side of Havelock. The steam engine, although not very ornamental, is a very useful one, and works almost to perfection, and far exceeds what was anticipated. It passed me on the road the other day with two trucks loaded with timber, travelling at the rate of six miles an hour ; when empty it can travel at ten miles an hour. The rails and sleepers are cut from the timber growing close to the mad, where no engineering difficulty arises. The roadway was constructed for about £3 per chain. A meeting of the finauce committee of the Thames Engineer Volunteers was held on Saturday cveniug. We understand that the funds of the corps are in a very satisfactory state, aud that several prizes have becu promised for competition by the compauy during the ensuing season. The Wairarapa Mercury of the 7th inst contains the following : —Among the yarns told of Mr Vogel is one too good to be hidden under a bushel. Among the passengc-s from San Francisco iu the steamer with Mr Vogel, was an innocent looking youth, with whom our travelling Minister commenced to play 100. To the surprise of everybody, the innocent cleaned out the Minister, aud when that operation was finished, he thus addressed him Well, I guess some of our public men are not first chop, aud if you want anything done you must pay for it, but if one of our Ministers gambled as you do, he would not do very long even for us.” Look for Mr. Lcwisson’s advt., the pionee of Colonial made jewelry.— ADVT.