THE WEEK.

Thames Star, Volume IIII, Issue 1747, 8 August 1874, Page 2

THE WEEK.

The first week in the August month has been most monotonous in its course, so far as mining news is concerned. With few exceptions the mines hare kept on their even tenor of stone and gold yielding. There is no change to note in those mines on the Waio-Karaka Flat that are in active operation as mines sending stuff to the mills. The City of York Company's shaft is being sunk rapidly, as is also that of the Queen of the May and the Vanguard. The latter company have been singularly fortunate in the choice of a shaft site ; the country it is in being easy and dry. The Karaka Creek this week has made little or no sign, only three and a half ounces of gold—so far as I can learn— baring come to hand. The Hape Creek people seem all alive making preparations for a good start in the spring. They are making no probationary preparations but are in real earnest in the construction of their preliminary works ; Mr. Sprague in one direction and Mr. Cameron in another taking the lead. The Exchange Company hare, during the week, suffered a slight reverse, the reef having run nearly out; but it has made again in so unmistakable a manner that it is now beyond doubt a well-defined and permanent lode. The Grahamstown flat mines—l know no other nams for them— have held their own—the Crown Prince especially. The reefs in this mine are looking most favorable for the shareholders. Towards the Shellback the Don Pedro has come slightly to the fore. I have nothing new to tell of the Pumping Association, the works continuing so smoothly as to require no notice, only for their excellence. By the way, Mr. Box is the successful tenderer for the further sinking of the shaft. The mines in the Moanatairi Creek continue to yield good stone, noticeably the Old Whau, thu Alburnia and the Coliban. Whore the stuff comes from in the former mine must be a puzzle to the manager himself. The Central Italy has changed its mine management. The newly-elected should, from his knowledge of the mine, prove an efficient man. The Manukau people still continue crushing, but do not, I baliere, intend to wash off just yet. A great deal of importance is attached as to where the Manukau will strike, whether through »nd beyond the Imperial City and into the Hand and Band, or strike more to the seaward. The tributers on the field have made their mark this week, and seem most indefatigable in their efforts to bring gold to market, and they are most successful, parcels of more or less amount coming almost daily to hand. One party —the Shamrock—got most vexatiously sold during the week. They banked what was thought to be sixfy ounces of gold; on smelting it was found to be nearly half let,d, some one haying (not intentionally) caused a lot of that metal to be mixed with the crushing stuff. " There is still the old complaint on the Thames of want of coal, and as our necessities arise for more steam power the want will be most severely felt. I heard yesterday that forty shillings per ton had been asked for Bay of Islands slack. It is famine price, but will hare to be giren unless the market is more freely supplied. This must act most detrimentally to the field. The danger is that if fuel continues at so long a price mine owners will think whether it is not better to knock the mines and wait for more favorable times. The coal owners say it is not for want of coal, but want of wharfage ; they cannot afford to let the ressels lay idle-so long in discharging. The brokers have been singularly short of business during the past week, holders being either satisfied that the stocks in hand are good as investments that will bear interest on the money laid out, or that the people have so bought in and in amongst themselves that all their capital is locked up. It is certain that there are almost as few sellers as buyers, and that those who do so sell with a half doubt as to the wisdom of their proceeding. As to the yield of gold for the week, I do not expect a very heavy return, as it is a kind of a by week with the Thames companiesj few of them washing off. Still the amalgam is steadily accumulating at the usually fair average. A thought struck me during the week—that; as the tunnel scheme up the Moanatairi has seemingly been abandoned, a new plan could be adopted, namely, running a tunnel from the 400 ft level in the Pumping Association's shaft, away to the Bright Smile ground. Most of the reefs between Tookeys, I find, run in a diagonal course from the hills to the beach. The tunnel if carried in would intersect the lot, and all the companies whose ground it would cut through are in a position to contribute to carrying it out. One thing ia certain, it would most effectually settle the much vexed drainage question, which from a glance at the Warden's Court cause list is about as far from being settled as the date of the millennium. The scarcity of horse power for draught purposes is not so great as it was some time since, consequent perhaps on horse food being cheaper and more plentiful, bringing the horses more up to their work. The item may seem a trivial one, but everything that affects the costs of the working of a mine or its product effects the shareholders and the public. The only-but district news that I hare heard of during the week came to hand yesterday from Tapu, when Holt Brothers brought in a parcel of 10 ounces of gold from what they represent as being almost surface working.