Mining Review of the Week.

Thames Star, Volume XI, Issue 3494, 6 March 1880, Page 2

Mining Review of the Week.

During the week an event has occurred that may have a very important effect en this "goldfield in the future. The Caledonian and other of our once premier mines, offered for sale by public auction by the County Council, and the Imperial Crown, Golden Crown, and Caledonian were sold. The latter was bought by Mr Rowe, bat that gentlemen being unable to form a company to work the ground it reverted to' the vendors, who yesterday Bold it to Mr 0. J. Stone as representing the shareholders of the old .company. As a proof of the confidence of the public in this solution of the difficulty it may be mentioned that as soon as it was known ■ shares were enquired for and a . surprising figure—considering the circumstances—was offered for the shares. We would have wished Mr Ao*e had sac* ceeded in floating his company, but as it was not to be we trust that the new arrangement will be for the best interests of the district. Arrangements have been made for starting the pump, and the Caledonian will be vigorously worked, and its undeveloped resources brought to the light of day. The Tookey mine yet remains to be disposed of. The Imperial Crown has passed into the hands of Mr Comer, and the Golden Crown belongs to Messrs Dunlop and Cameron, who are already on payable gold. ~ - During the week there has been bot little fresh in the Alburnia. The drive on the lode at the 160 feet level has been carried to within a few inches of the Old Whau boundary, but the footwall portion of the reef which has been driven on has proved unpayable. There is about 20 feet of the hanging wall yet to come out. • "

The New Whau mine has been placed under the control of Mr Daykin, and the contractors are deepening the present winze to meet the drive to be put in from the Alburnia irt \>thet 160 feet leVel. -The stock hare greatly advanced in value during the past week/