Mining Review of the Week.

Thames Star, Volume XI, Issue 3500, 13 March 1880, Page 2

Mining Review of the Week.

la last week's summary the purchase by Mr Stone of the Caledonian mine was announced. This news has been confirmed during the past few days, and as •a earnest of the bona fides the purchaser, who is acting for the shareholders of the old company, is supplied by the notice of a call of 15s per share on the capital of the company. The pump has been purchased from Mr Comer by the Moanatairi, and the several companies interested are called on to contribute for the maintenance of pumping operations. According to our contemporary, the Auckland Herald, the pumping assessments are to be as follows:—Caledonian Company, £30 per month; Cure, £15; Crown Princess, £10; Don Pedro, £2 10s; Golden Calf, £25; Golden Crown, £10; Inverness, £5; Kuranui Hill United, £40; Moanatairi,, £60; Manukau, £5; Prince Imperial, £10; lied Queen, £10; Tookey, £0; Waiotahi, £25; Queen of Beauty, £10. This the compuny will have power to enforce under the Goldmining Districts Act, and ha?e no doubt that the pump being placed on a proper basis, will t'e.kept permanently at work. We have been supplied with tl.e following figures showing the reduction of the water, since the re-commencing of pumping operations. • In the Pump shaft the water is now 226 feet below the,sill, while at the last time "of measurement (last Saturday), it was i92|; in the Prince' Imperial today, it was 212, and last Saturday' 195|; Crown Princess, today 211, last Saturday 199^; Piako, to day, 196,1a5t week 196|. ;It will be seen with the exception of the Waio-Karaka the reduction. of the water has been marked and rapid. In the case of the Piako the effects of the pumping has not yet bes n fully felt, though from the fact that before the pump started tie water was rising at the rate of a foot per day, it is evident the Waio-Karaka mines are benefitted to a very great extent by the operations of the Big Pump. It may be added that with the present rate of de« crease the water will be down to the Caledonian Wo. 3 level in about a fortuight.

On 'Change, New, Whaus have been the ruling theme; and the excitement regarding this and .neighboring stock almost reminded one of the good old times. The New Whan is now working on splendid gold, and a bright future seems to be uhead for this mine. The New North Devon, AJburnia, and Columbia have each received a fair share of public patronage. Queen of Beauty shares have been quoted at a good figure public confidence being much strength ened bj the solution of the Big .Pump difficulty. Work will be started in this mine in a few days. A new venture will be floated in a few days to be called the Victoria. We have heard that the promoters' shares have been realising satisfactory prices, and tne money derived from this source, will be put to the working of the mine. This course was adopted with reference to. the Columbia G-.M.C0., which has the very satisfactory credit balance of £400 to commence work on. . j.