OUR MINES

Thames Star, Volume XI, Issue 3547, 8 May 1880, Page 2

OUR MINES

Mining Review of the Week,

As a matter of course from the vast interests involved whenever the Big Pump crops up it is for the time the main point of interest to the mining world. When the pump was sold by the County Council to a company of such wealth as the Moanatairi, doubtless many.thought all past troubles were over. However such a state of things was not to be, as we find that the companies interested in pumping operations, from the great cost of pumping in addition to the large expenses eutaikJ by entering on the prospecting works which the development of their mines require, find tht are quite unable to stand the racket, and are by force of circumstances compelled to seek aid from the gold duty accruing to the Thames, local bodies. We would not be prepared to advocate such a one sided arrangement as the one in vogue during the previous time of the connection of the Borough and County Councils with the Pumping Association, but tbink that the companies are fairly entitled to receive what they now demand. Tbe gold duty from, the area drained. It is a self, evident fact that without pumping no gold duty from the deeper levels of the field would find its way into the exchequers of the local I bodies, and consequently, as the companies assert they will have to cease pumping unless such a means' of revenue is obtained, it is very probable the local bodies will see fit to accede to the request. In considering the effects of the granting of the request, two questions arise for elucidation. The first is how will the parties interested be able to say what amount of gold duty comes from the area, drained and what does not P The Moanatairi Company may be taken as a notable instance of a mine in connection with which this difficulty will crop up. This company obtains the bulk of its gold from portions of the mine not benefited by the operations of the Pump, but as the whole produce of the miue is massed together how^are the local bodies or the Pumping Association to say on how much the yield of a crushing is the contribution of gold duty leviable ? This seems to us to be a difficult -problem to solve, and in our opinion far better would it be if the local bodies would agree to give a fixed contribution from the entire gold revenue, or let say 10, 15 or 20 per cent, of the total duty be hypothecated for the maintenance of pumping. The second difficulty referred to is this. The financial position of one of the local bodies at least is such that its bank credit is not of the best, and all monies accruing whether from gold duty or otherwise are collared by the bank for the diminution of the overdraft, and we doubt very much the ability of the local body referred to to contribute, no matter, how willing it may be. We allude to this latter difficulty to prevent the companies building up schemes on expectations that perhaps cannot be realised. Some may on. reading this be inclined to quote the thread bare aphorism " Sufficient unto the day is the evil thereof," in reply to which we would say the people of the Thames in times gone past and in connection-with the same property Gave got themselves into a hole by neglecting the teaching of a little proverb about " Looking before you leap.' 1 We trust that a means will be found of surmounting the obstacles referred to, and that the maintenance of pumping will be assured without compromising the interests of the taxpayers of the district.

With the exception of the pumping question mining topics have been very scarce during the we k. The share list of the New Golden Crown Company has appeared, and from it it would appear that the shares have been pretty equally distributed between Auckland aod the Thames. It is rumored that the publica-, tion of the list has'been delayed by the .disgraceful actions of certain "gentlemen" by which they unfairly obtained large interests in the mine.

the intermediate drive from No. 2 winze. The reef is of good size, but the footwall is not yet reached. The hanging-wall leader has been driven on about 80 feet and continues to produce remunerative crushing dirt. Up to a day or so ago, the drive was carried on the footwali, but the country being hard, the lode wa3 crossed, and the hanging wall is now the ! first stripped. 'In the c stope the leader is six inches -thick, and has a promising appearance.' A much better class of country has been met with in the 160 feet west drive and a great improvement is noticeable in the reef. The manager hopes to take some re* munerative quartz from this portion of the - mine, and all the present indications favor the idea that gold is not far off". I forgot to mention that in the face of the eastern intermediate drive from No. 1 winze the reef was almost pinched out. To-day, however, it was evidently making again, and will be as strong as ever in a few feet. The contractors for driving the Sons of Freedom tunnel are making good progress, but the reef does not show gold. In a short time this tunnel will be the main entrance to, as well as the outlet of, the mine, indeed the mine office will be moved from its present location at the Whau level to a point near the mouth of the tunnel. At the battery the stuff is showing up for a satisfactory yield.