Mining Review of the Week.

Thames Star, Volume XI, Issue 3552, 15 May 1880, Page 2

Mining Review of the Week.

In last week's review the new phase of the pumping question was pretty exhaustively criticised, and that the local bodies would agree to contribute to the Pump was accepted as a foregone conclusion. We took occasion to point out several obstacles to the wanting of aid in the manner proposed ; i.e. the donation to the companies of a portion of the gold duty derived from the area drained, and ! we are glad to see that in finally dealing j with the matter the County Council took ' the same view and decided to grant a i fixed sum monthly for the maintenanc i of '■ pumping operations. The line of argu- I ment adopted by those in favour of assisting the Pump was very straightforward. It was to the effect that if pumping stopped the gold duty from the ground now benefited by the. operations of the pump would not find its way into the coffers of the Council, and then as it was not expedient to grant a percentage ot the gold duty for the reasons pointed out last week, the only means open was the granting of a fixed sum monthly. The arguments used by those unfavorable to Cr bagnall's motion, however, must not be weighed too lightly. Have not the Council established a precedent which will entitle every mining venture in the field to demand aid! A party of men working in the Hape Creek are winding water from their , shaft constantly, and as there is no real difference between * bailing and pumping, have they not got as good a claim as the Moanatairi company. We think that the question of mining aid is likely to become a very troublesome one to the local bodies, and will, in all probability, lead to the abolition of the gold duty. The gold duty abolished, the local bodies are sure to have the power granted to them to rate mining property as a quid pro quo, and then the application of public funds to aid mining ventures would be out of the question. As this state of things would not be beneficial to the. field in its present condition, we tcust that no steps will be taken rashly, and the necessity of treating this important question with the greatest caution, appreciated. During the week there has been an uneasy feeling about New Whau stock on 'Change, and the shares have receded somewhat. The cause assigned is that the quartz in the 160: feet level has not come up to expectation. Seeing, how* ever, that the Alburnia carried poor stone up to the boundary, the somewhat poor appearance of the reef in the Whau drive is not to be wondered at.