OUR MINES.

Thames Star, Volume X, Issue 3377, 18 October 1879, Page 2

OUR MINES.

REVIEW OF THE WEEK.

The week past, like many of its predecessor*, has been undisturbed by any event of great importance in the mining world. The gold yield continues at the low average that has recently prevailed, and the list of returns is chiefly made op by a large number of small parcels, - indicating that, notwithstanding the com- - paratively small product of gold ? a good , deal of work is going on. This is reas-. suring, and when coupled with the fact' that there are very few of the mining class unemployed, it shews that the'cry of hard, times and great depression is louder than is warranted by the circumstances of the field. Indeed, the return of so many Thames men recently who bare been round the colony seeking to better their condition, shews that the Thames is not iv a worse state than other districts iv Kew Zealand, and perhaps better than many. The first incident that comes before oar mind in looking over the events of the past few days, is tha resumption of operatious by the Moanatairi Pumping Association. After considerable delay in endeavoring to repair the submerged plunger.. „. a.suggestion that a portion of the smaller |J lift should be used to reduce the water "% was adopted, and the pump is - now working away in a satisfactory manner. ' While on this matter, it may not be out of place to refer to the rumors that have • been current during the past day or two regarding the intended action of the County Council respecting the companies whose properties are mortgaged. The last occasion on which the matter came before the County Council, in meeting assembled, was early in September, -when ; the following resolution was adoptetft — " That,the Council do instruct the BegiV^ . trar of the Supreme Court to offer for sale by public auction, the freehold land upon which the Big Pump and its machinery is erected, together with the aforesaid Big Pomp and the machinery ■ connected therewith, and that this com* mittee be empowered to make all the arrangements necessary for carrying into . effect the provisions of this resolution." ', This is, so far as we can learn, the present condition of affairs. It is understood that on the terms of the deed of mortgaged, the Pump and machinery has to be realised on before the other securities are touched. During the week there has been a slight improvement at tiio Caledonian and Alburnia mines. With reference to the former, we may say that the improvement cousists iv the discovery of some payable stone 'at the So. 3 level. This level, on which gold has been found in various places, it but little prospected, and further developments may produce something good. The yields from the Moanatairi mine are showing an improvement. The company continues tipfcbaorb the greatest part of its profits in prospecting operations, but at yet nothing remunerative of any importance has ibeeo discovered. Several •' ■■ / ■ • ' ,: •" -»'