Our Mining Reporter.

Thames Star, Volume VII, Issue 2586, 21 April 1877, Page 2

Our Mining Reporter.

THE WEEK.

The six weeks' run of f<. verish excitement following upon the Moanatairi find has been succeeded by a decided lull. When it became known on Saturday last that the directors of the Moanatairi had decided not to sink the winze on the gold, there was a decline in the price of shares, j The market was not entirely dependent! upon this stock, however, for Piakos and ! Kuranui Hills had absorbed some portion j of public attention, but the main support \ —the feature that bad greatly contributed i to the popular excitement—<-the extra-or&inai-y gold yields from the Moanatairi, bad fallen off. It would scarcely be expected that on one level it would continue as rich as it had been % for some weeks. Ten thousand ounces from six days' work was more than could be' looked for, and when the falling off was. so noticeable it was only natural that shares should go back injudcej^Ehe market has been weak for soh^BKynMMpoanatairis have not gone so low as scimevaid they would. \Holders are buoyed up with the hope that the next level will bo as good asthe present has been, and there is some probability that their hopes will be realised, but it may be some time before that comes to pass. The marked improvement in the prospects of the Piako, and the starting of the big battery of the company, have done much to inspire confidence, and a great deal of the business done has been in Piako stock, but prices have been fluctuating for several days, showing that the market was sensitive. The Kuranui Hills have kept up at a good figure, although the low level find has.not developed any new features. Queen of the May and City of London, Waio-Karaka mines of good repute, have risen in favor, and have contributed to the business done in the market. The Queen of Beauty has advanced a stride, owing to the success of the new turbine, which promises well' to economise expenditure on crushing. The news of the Waitekauri crushing is ndmittedly satisfactory, but * stocks have not yet been much affected by the return. The month's yield when it comes to hand will probably send up shares, as the mine is looking its best according to the < manager's report and information obtained from other sources. Altogether the week's mining news is encouraging, although there-has been nothing brilliant to chronicle ; and the lull which has been experienced will give people time to recover their mental equilibrium if it will not do anything towards balancing debtor and creditor accounts of speculators. :