THE WEEK.

Thames Star, Volume VII, Issue 2598, 5 May 1877, Page 2

THE WEEK.

The mining news of the week has on the whole beep of a satisfactory character. The month's gold returns amounted to a respectable total, more than a half of the aggregate coming from the Moanatairi mine, which, however, does not look like giving such a fine yield during this month. The mine is looking well, and its prospects are most encouraging, not only in the No. 9 reef but in several other parts where the progressive woiks have developed new sources of wealth. The gold got in the winze has had the effect of keeping up the price of shares, and when the principal run of gold is picked up—which is not expected just yet—there should be some further large returns to gladden the hearts of shareholders. The Alburnia has come again to the front with a splendid return from &■ specimen crushing, aud as there is a pretty large parcel of stuff ready for crushing and more specimens daily to hand, a further improvement in the company's stock may be looked for. A rumor that another gold-bearing leader had been cut in the low level workings of the Kuranui Hill caused some excitement, and a spasmodic rise in the price of shares, but there does not seem to have been much foundation for the rumor. The shares, however, seem to be pretty, firmly held. In the Waio-Karaka.yery marked improvement has been noticed. The Piako return was good, but it seemed to be scarcely up to expectations.- The large reef shows gold in the' face, and it should turn out well for some.time. The Queen of May promises well for a further dividend at no distant date, and. the Queen of Beauty and City of London' should soon assume places amongst the dividend paying companies. The ground formerly known as the City of York has been taken up, and if properly worked some payable stuff ought to be got out, as the cost of crushing is now very much less than it was when this piece of ground was prospected before. One very noticeable feature in mining at the present time is the disposition shown by battery owners and others to utilise the water from the big race as a motive power. It has answered so well at the Queen of Beauty battery that other companies are anxious to try it; and as the supply is almost unlimited, the only difficulty in the way of its use to a greater extent is the want of proper delivery pipes from the reservoir: If this can be got over, and no doubt it can and will, several of the large batteries should be able to economise to a great extent in the item of coal, and crush at a lesser figure than is profitable with steam power. No doubt this question will receive a large share of attention now, and if it is found that the Thames water race can be made use of to supply a motive power to the extent some are sanguine enough to believe, the money that has been expended on the work:will have been well laid out. The Waitekauri monthly return is regarded as a good one. It has enabled the directors to declare a dividend—-the first —of one shilling per share, amounting to one thousand pounds. Some thirteen hundred pounds have been voted for payment of accounts and moiety of battery payment, and a respectable sum is left to the credit of the company; while the mine itself looks so healthy that further dividends ought to follow. The progress of the tramway to connect some other mines with the Waitekauri battery is reported as satisfactory, and more activity is being displayed by the mines likely to be benefited by this piece of work.- The Waitekauri district generally looks healthier than it has done for a long time. The other outlying portions of the field are not remarkable for any particular signs of progress, Owharoa especially being at low water.