CITY OF LONDON.

Thames Star, Volume VII, Issue 2111, 9 October 1875, Page 2

CITY OF LONDON.

The crushing of No 1 reef from the bottom level of this mine has proved itself to be superior to anticipations, the yield may be fairly estimated at 1 ounce per ton, which frem the facilities afforded by the management, would leave a good profit upon operations for the benefit of shareholders, and from the height, length and depth of this lode -would lead to the conclusion that this property had a long career of prospe- . rity before it. This, however, is cut ! short by the fact that the water has gained possession of the lower workings, there being 1 foot of water on the entire floor, rendering further operations in a very short time impracticable, and, as a consequence, the level will be rendered snug by securing the works ; so that the probable inflow will be comparatively harmless. The manager, Mr Hicks, proceeds to Auckland this day, with the view of conferring upon the subject of drainage, and if practicable, to bring about an equitable arrangement for subscription to the Bright Smile pump. It is to the interest of the thi'ee corporations, namely, the Bright Smile, as held by the Loan Association, the Queen of Beauty, and the City of London to speedily arrange this business, outside companies cannot be expected to take the initiative, but doubtless would be willing or otherwise could be compelled to contribute their fair quota. Failing such desired arrangement, the prosperity of the district suffers, as in a short time the Queen of Beauty will be water-logged, the difference being about 10 feet; when both the City and Queen will be thrown back upon their upper level resources, these may last for a limited period, but in the mean time, the Bright Smile property will most assuredly suffer the. most. It is doubtful whether the City of London will clean up on their usual day or not.