IMPORTANT SALE OF MINING PROPERTY.

Thames Star, Volume XI, Issue 3460, 27 January 1880, Page 2

IMPORTANT SALE OF MINING PROPERTY.

The mines and batteries mortgaged to the County Council as securities for the Government loan of £50,C00 to the Pumping Association, were offered for sale, at the instance of the mortgagees by Mr W. Carpenter, at the Academy of Music at 11 o'clock to day. There was a large attendance. The auctioneer read a description of the property, together with the conditions of sale; also the clauses of the Immigration and Public Works Act, under which the mortgages were transferred to the County Gouncil. He then put up the first lot, which comprised the contents of the building known as the Central Smithy. The first bid was £20, and it speedily rose to £35, at which price it was passed to Mr R. K. McGregor. Lot 2 was the Caledonian mine, comprising about 4 acres, with | pumping and winding plants and buildings. The bidding started at £1000, and then bids of £1500, £2000, £2400 followed each other in quick succession. There was a brief pause, and then £2500 was bid. Eventually the lot was knocked down to Mr W. liowe for £3000. This announcement by the auctioneer created a hearty round of applause. The Tookey mine was the third lot put up. It was started at £100, and rose by £100 bids to £1300, at which figure it was withdrawn, not coming up to the reserve placed on it. The Golden Crown mine was next put up, but also passed in. - The Imperial Crown Licensed Holding company, 50 men's -f^ttndr^ra-thtrfiffchrtot; —It was knocked down to Mr Comer at £170 after-«>aM»~ spirited bidding. The Imperial Crown, Tookey, Golden Crown and Caledonian Batteries were put up separately but failed to find purchaser's. We believe it is Mr Howe's intention to form his purchase into a company of 10,000 shares of £1 each.