THE WEEK.

Thames Star, Volume VII, Issue 2063, 14 August 1875, Page 2

THE WEEK.

Another quiet uneventful week, with no single incident of a startling nature to relievo the monotony which has prevailed. There is one consolation in the fact that the gold returns have been steady and fully up to the average. The Queen of Beauty, the first lodgment of whose gold was inoluded in last week's return, came up to the usual mark for the fortnight, but the dividend from the return was nominal, the shareholders having reserved a portion of their gold for an experiment. It is no less than an effort to'defeat the combination of the banks, under which the Queen of Beauty shareholders and others have been receiving less for their jnjold than when there was competition. They have been receiving something like two shillings per ounce less since the competition was knocked on the head than ~they did while it lasted, and now they have determined to try what they can do by shipping their gold to Melbourne or Sydney. If any company can do this successfully, surely the Queen of Beauty people can, as they are the largest producers, and having been jn receipt of princely dividends for some years they shouldbe in a measure independent. Perhaps they will not stop at shipping their own gold. They may find it to their advantage to become /)«r----cfiasers of bullion, as if the shipping business can be made to pay-with small or even moderately large parcels it ought to pay better when entered upon extensively. But before that can be done possibly the local banking institutions will see reason to modify the terras of their compact as regards the price of

gold, without interfering with the terms upon which they have agreed for the transaction of ordinary banking business. At the meeting of the New Exchange Company the other night a subject of some importance to the Thames was discussed, namely the location of company offices. Althoughit was stated that themajorhyof the shares in the new company were held by Thames shareholders, they were out-voted on the question of where the company's office should be, and a* the case stands the New Exchange is to be managed from Auckland, with three out of five Auckland men on the directory. The arguments advanced in support of this, although apparently convincing to the New Exchange shareholders, would not avail in many instances. For several reasons the management of mining companies should be where the majority of shareholders reside, and if that is also near to the property to be worked, then <so much the better. It was stated that companies managed in Auckland had been more successful than companies having offices here. That may be the case, but it would not be difficult to show that the success of companies was due to some other cause—not to the fact of having the office and directory in Auckland. It is no doubt ad visablj^b. have gentlemen of experience, capital, and influence on boards of directors, but it is inimical to the interests.of the Thames to have mining company offices in Auckland, especially when the shareholders are mostly resident here. The future of the New Exchange will probably prove the wisdom or folly of the course decided upon; Encouraging reports have been received from Tairua and Ohinemuri. At the Waitekauri a commencement has been made in the preliminary work for the neir battery, a number of sawyers having arrived there to enter upon the contract for supplying the necessary timber. The Prospectors' claim at Tairua is being prospected systematically with promising results ; while the battery ia approaching completion. More crushing power for this district is spoken of, but the urgent want of roads cripples all enterprise in this direction, and until something is done to remove this drag, the Tairua will not make much headway. Already witb. the small complement of hands employed some of the companies are on payable quartz, and if crushing power is not soon available the compulsory labor they employ will be thrown away. The remedy for this state of things is a good road, but where the money to tbrm the road is to come from is a question difficult of answering.