Mining Review of the Week.

Thames Star, Volume XI, Issue 3482, 21 February 1880, Page 2

Mining Review of the Week.

;'.' Daring the week thW interest mining world hat been chiefly centred in the mines of the Moanatairi, and especially in the cluster at the head of the creek. The premier mine and its workings was fully, dealt with in oar mining column yesterday. The failure so far to get payable gold in the bottom level has had a somewhat depressing effect on the market though the shares keep up Tery well, showing the great confidence that exists in the mine and its management. The price during the week has been about £3—not at all an exorbitant price considering that there is ;a! good payable block below, the 70 feet level to work yet; and one that can fairly be expected to pay as many and as large dividends as the block above. The ; new Whau ■ shares hare appeared onthe brokers' lists this week, though but limited business has been done; The mine will.soqnjbe at work, a contract baying been let and a call of one shilling declared. Of course until the registration of the company this cannot i>e legally enforced,, but the shareholders are willingto have the mineral wealth of their claim developed, and there is. not likely to be any trouble on that score. The shareholders are; confi-; dent .of the value of their mine. The New North Devon still retains the confidence of investors, and good prospects are met with by the tributers. A new! venture has appeared before the public 'during the week in the shape of the Columbia G.M.Co., the old Titaniajlicensed holding. It appears to hare been very well taken up.; .;-vviv" ;;■:;':v.;,..;:.■ Uy-/wJ.;*-'*r\ Mr Eowe has again altered the prospectus of the New Caledonian United, con> I siderably modifying the proposals. It is to be hoped the venture will be a successful one, and would no doubt be highly profitable toinvestors—the winding engine

alone berns;:'•■ a source of considerable revenue, while there is plenty of ground that could be advantageously let to tnbuters. The only "difficulty will be the i ! matter of the pump, indeed on its future history depends m a great measure the prosperity of: this and other mines. Speaking of the pump calls for a remark on the position of this valuable property. How is the mighty fallen ?• TheJßig Pump, the pride of the Thames, and one of the lions of the North Island, is in jeopardy of being sold for old iron. Surely this is not as it should be, and w% should like to see a determined effort made to place it and its affairs on a more satisfactory footing than at present. . In a few weeks-the long deserted^VaioKaraka district will be busy, the new pumping machinery for the Queen of Beauty beiug on the eve of completion, Though hardly within the province of this article we feel justified in referring to the very unsatisfactory nature of the Government's tenure of this gold field. JNo other operations but goldmining, which necessitate the removal of the soil,

are permissible, it being in the power of the native owners of the soil to demand utu for such a gross infringement of their rights. Twice hare they levied black mail on one unfprtunate contractor, and the day may come when a man will not be able to sink a well or dig his garden without first propitiating our colored brethren with the magic " guineas." This question needs consideration, and it' would be well i f tb c Liberal Association or some of our local bodies took the matter up and urged on the Government the necessity of altering the present condition of affairs.