The Evening Star. PUBLISHED DAILY AT FOUR O'CLOCK P.M. Resurrexi. FRIDAY, APRIL 9, 1875.

Thames Star, Volume VII, Issue 1954, 9 April 1875, Page 2

The Evening Star. PUBLISHED DAILY AT FOUR O'CLOCK P.M. Resurrexi. FRIDAY, APRIL 9, 1875.

In yesterday's Star we published*from the Melbourne Argus an article on the management of mining companies, in which comparisons were instituted between different companies at Ballarat—their cost of,managi?melit and results. It was shown that companies whose quartz y;elded only some Bdwts to the ton were, able to pay handsome dividends in proportion* to the gross yield, while other companies which produced quartz yielding lOdwte-to the ton- paid no divictendsat all. We fear that similar results miliJa.te .'.yeix 'seriously' against the success of mining- operations on this field. The small areas of some of the leading mines, necessitating the prosecution ©f expensive 'worTrsV •perafe prejudicially ; the remedy fer w^lnchi^as;. we? have before pointed out,

would be found in amalgamation. Then it has been frequently noticed that mining companies - starting with fair, prospects have been swamped by undertaking preliminary works on too grand a scale. Calls may come'in readily for a time, but unless very great encouragement is met witfr in, the ,star.t, the/ constant tax on the pockets of shareholders becomes too heavy. The burden of carrying on must then fall on a few;,; or be, abandoned altogether. As a remedy against, this contingency, the principle of making a large number of shares and levying calls .of a small amount has been suggested. It has been, tried in the South, andi we believe, found to answer very ..well. But there the shares hare been well distributed, and the system some time ago pursued here of allotting to! a few promoters large quantities of scrip — to be "dummied" until such? tiMe as they acquired a market value—has not been permitted. This "dummying:.'*.,process has been fatal to the success of many promisinsr companies; as by it shareholders have evaded ■payment' of calls. We have known instances where en the allotment of scrip certain prompters have had say 500 shares put down to them. They immediately make a bogus transfer of 400 shares, and pay cSlis^bn a hundred. By-and-bye the mine looks up, is quoted in the market, and the promoters sell, retransferring to themselves the dummy shares as purchasers could be found. This course is neither honest to their co-shareholderg who" pay Icalls in good faith, nor is it calculated to inspire investors with confidence/:' "in. mining ventures. If each shareholder would only accept such a. number of shares as he could manage to pay calls on, there would be more bona fide speculation, and better working of the mines. Dummyism is a more fruitful source of failure in connection with our mines than even expensive management, but when the two evils aire found together, success can scarcely be expected. There are many other causes which have conduced to the present stagnation in mining on this field, and it would be well for all those most interested to seek a remedy for them. They are too well known to require enumeration ; but until they are successfully combatted very little improvement can be expected to take place in the industry upon which we all depend. There is ample scope for the employment of capital on the Thames, with fair prospects of return. But capitalists have been so often bitten that they are shy of " touching" anything just now but dividend-paying stock; while hundreds of acres of auriferous ground are unoccupied which should be affording employment to inahy miners, and producing a fair return for capital invested. If the Thames is to be galvanised into new life it will be done by offering inducements to parties to extend the circumscribed limits within which active mining operations are at present carried on, and by a practical reform of the system under which some companies at least are worked.

The Southern Jockey Clubs are making it warm for dishonest jockeys and trainers convicted of unprofessional practices on the turf. At first thought, it may appear rather"a severe sentence) to disqualify a man for ever for "pulling" up a horse which, in,the opinion of others, had a fair chance of winning a race; but when it is considered that other interests are involved than those of the rider or owner, it becomes at once evident that nothing but severe penalties will deter some professional racing men from perpetrating every species of roguery, by which, the smaU remnant, of respectability left to their calling would be forfeited. Several instances have occurred in the South lately where jockeys have been convicted of acting unfairly. In every case they have been dealt; most severely with; and we believe that the decisions of the Jockey Clubi hare been upheld' by

other bodies. In one case the owner was very nearly being censured. The discussion indeed took such a turn that if he had a fair share of those gentlemanly instincts supposed to belong exclusively to persons of his caste (He was a "Casing," jrev^ancy) He must hare felt that the course adopted by the Club was a reflection upon his character, although not definitely recorded. We rejoice to see that our Southern friends are determided to mete out stern justice to those who transgress the rules of the turf, . It has little left to boast of, but as "a national sport racing is not pas-t redemption, and each sentence of ostracism will strike terror into the hearts of wrongdoer* Jand make' them 1 hesitate before attempting any of those tricks which bring discredit v [fan the turf" and afford a handle to the enemies of horse-racing to coiidenm it. If r members, of other professions were amenable to a tribunal similar to that which keeps a watchful eye over the conduct of racing men, we should hear of fewer breaches of that unwritten law which ought to regulate the* conduct of men in their relations with

each other. It may be a * severe sentence to drive a man from a profession to which he has-been trained, but the possibility of such a sentence would keep many men from wandering from the paths of rectitude, although the temptation might be as glittering as that which soEftetinie? induces jockeys to'enter upon nefarious practices. -■ ■ ■ • : J:.*.J -•■■:'■ "" '„. ■

The Effort Trent to Auckland fo-day.. It h doubled whether she will return to the Thames trade. l^B learn that a number, of men are prospecting at Hikuttua. '/A- few kave beon there for Borne time pas'". - The members of the Shortland Volunteer Fire Brigadeare requested to attend practice to-night at the usual hour., . ' . His WofiSHip ike Major has, at* the' request of a number of inhabi ants, called a public meeting to devise means for (ha relief of John Wimd^or and hisi wife and family. Windsor, it will be remembered, met with an accident at the Bright Smile tramway which, necessi'ated amputation iofhi.s left artij. He * is therefore v: able to follow his business, as a carpenter. He has a wife and four children, and his troubles have been aggravated by sickness in his family. Windsor wasi a violinist too, and in the habit cf augmenting his ordinary earnings by accepting enpiagerivnt* at balls, frc. j but the loss of his lingering hand precludes the .possibility of Iris ever doihsf anything oiore in that line, either for his o*n pleasure rv for pay. ■». The meeting will be held at the Mechanics' Institute this, evening, at half-past seven o'clock. I /

A cash heard in the RM. Court this mOrnrrig:~pre*ented quite a"Oome3y:o*f .jßxrrrsr The Antipholous brithren were impersonated by Messrs K. N". and T* Smith. Tne" former was charged with allowing his horse to wandor, and'he'denied that his horoe had been loose, or, ■■ in flat contradiction- to the poundkeeper's statement, that he had released the horse in question from the pound. The official presiding over the pound then expressed a doubt as to the identity of the defendant, ai he had a brother so very much like him ; and a lurking suspicion Chat the brother might be the culprit began to take a firm hold of the official The Sub-Inspector asked for a remand, btit Antipholous the First saved further trouble by pleading guilty and paying the fine for Antiphokms the Second.

".Bltje Bell " writes t» suggest that young ladies should " let themselves " on lease for a term ©f years, af er the manner of house property, with liberty to dispose of the lease to a more appreciative tenant in case the husband became crusty, or otherwise un« manageable «n the subj ctof pin monty and duckß of bonnets, or! snappish when mildly thwarted, orfancTing himsielf thwarted, which in " Blue Bell's " opnion often amounts to the pame thing If the " leasehold husband " exhibited any of these trying sviuptoms, t.be property could be put up to auction with the goodwill, fixtures, crinoline and belongings, the o.'t-going tenant paying, of course, handsomely for dilapidations. In "Blue Bell's" opinion men (as a rule) are such tyrants that they are not fit to be trusted with the precious freehold of woman's affections. . .

In this age of measles, and other: diseases, persons nevrr know when they may be ia the presence of infection. A young man recently met an acquaintance in tbie street, and after walking some distance without particularly regarding his companion, aafced him how he did. To tliis the, other jrejoinad, '" O! I've got the meatles; I got out of bed to-day." And the young nan referred to was horrified to find, on looking up, that the other's fice bore the marks of the disease unmistakeably.

Thb trains between Wellington and the Hutt are said not to run us smoothly as could be wished. A correspondent writes to the Tribune that a. keg of cream put on board the train at the Hutt wan recently found to have been converted into butter on arrival at Wellington. "Possibly,* 1 says the Tribune, "we may yet hear of the Wellington and Hutt Churning Company (Li . ited.) "

Captain Best. Harbour Master, receired a telegram rom Wellington to-day warning him of a sudden fall ia the barometer, and predicting bad weather. The condition of the atmosphere on the Thames to day is any thing but promising, an.l we may now look fOy, an entire change in tho weather.

In a mining case, lately heard before his Honor Judge Gray, (since dead) at Queen stown, a newly-fledged l*gal aspirant—Mr Finn—said if he keld a claim he would hang miners who came poaching on it. His Honor thought feuch remarks were disrespectful to the Court—law should be taken cold, not hot. Mr Finn agreed, but would be glad to see another Eureka riot here, to show the Governireht the iniquity of the present mining law. His Honor said such rerrarks came with bad taste from so new a practitioner in this Court, pnd he would nob listen to such remarks being thrown out against the law.

The rew system of shipping telegrams will como into force on the 12th proximo, from which date the entire responsibility of telegraphing arrivals and departures to and from each port will "devolve upon the agents of the respective steamers, who will be required to report arrivals and, departures at the earliest possible moment. In return for this informa 1 ion, the telegraphist receiving Buch telegrams from another port is.instructed to send out at once a copy 16 the" local agent; for the steamer telegraphed, in addition to posting it up for jiublic information. Circulars to this effecfc,,have been forwarded to the telegraphists at tho various ports, and also to the agents for all the steimers trading to or on the NeW Zealand coast. The alteration appears liktlj to be a marked improveraeat on the existing system, and to ensuie far greater accuracy than at preient.—-Post.

The Lyttelton Times states that a Wailio Gold-mining Company is projected. In their prospectus tbe projectors state that the prospecti- g claim, about two.square,miles, ei<mile on the" Waiho riveir, is jifo*: iheldiby shureholders;; under, fchoi Canterbury. Temporary Mining Act, 1869; abo that the works have been visited by men of large experience in reefing who have expressed a very decided and favourable opinion as totke prospect,and that grout confidence in the ultimate r/suU is held by all mho have seen the samples of gold procured in following the leader.