THE WEEK.

Thames Star, Volume VIII, Issue 2870, 27 April 1878, Page 2

THE WEEK.

These who haro been closely watching the course of mining events lately cannot help being struck with the number of companies which hare recently been formed to work ground at tbe bead of the Moanatairi. During the past four or fire months some three hare been successfully floated, and this week another one —the dunes—baa made its debut. The ground is the old Bose and Shamrock, and from

the demand that has been evinced for promoters' shares in tbe new company, the preliminaries of the formation should be rapidly and successfully gone through. The companies already formed and being worked are showing healthy signs, so that we may reasonably hope shortly to- see the success of the head of the Moanatairi not dependent on the one mine. The majority of these companies are managed from Auckland, which, it may be sard, causes a good deal of hostile comment here, it being averred that the companies are given to Auckland managers simply' for the purpose of giving the Auckland speculators some confidence in the mines. If this is so, it is • very unhealthy, sign, and does not evince much confidence in the mines on the part of the directors. Lately the question of the maintenance of the Waio-fearaka pump hat cropped up, insomuch as the companies interested think that they have as much rigfit to ft share of the expenditure of public money for the maintenance of the Pump,'as the U.P. A. have. It has been shown that the Waio-Karakft mines have been working at a loin during the last several months owing to the heavy tax on their resources that the raising of the water undoubtedly is, the cost per month for doing which, is about £250. The directors of the Association have waited on the Boropgh Council, but that body is powerless.to Assist them, the whole of their Gold Duty being settled on the Big Pump.^ll February next—that is unless"the existiajg.arrange-; ment is broken before then. solving' of the'problem how to Assist.bo£li inttitutions out of the\public funds' without injuring either,is a very difficult one, and ftt present it seems impossible''to indicate a way out of it. If the Count£'«ontinne the South drive from the BigPutnpshaft, in time the drainage of th« | will be diverted to it, but the question ia, will the Waio-Karaka mines be able to continue work unaided until that event takes place. '„.'; . - .