Mining Review of the Week.

Thames Star, Volume XI, Issue 3558, 22 May 1880, Page 2

Mining Review of the Week.

The ruling excitement of the past Week has been the discoveries in the New Golden Crown mine, which besides taking everybody by surprise, caused an abnormal excitement at the corner for several days. The shares went up to treble their original- value, and there appears to bo a growing feeling of confidence in the mine. Now Wliaus have also had an upwards tendency in consequence of an improvement in the appearance of the lode. At its last meeting the Borough Council decided to hypothecate 25 per cent, of its gold duty for the maintenance of pumping. The reasons which led the Council to gire their aid in this form are clearly showu in the following extract from the report subtnuted:—" Four Committee have the honour to report for the information of the Council, that as to area drained by tho operations of the Big Pump, ihoy are of opinion that it would be very difficult, if not impossible, to correctly estimate such—an opinion endorsed by the deputation waiting upon the Council on tho subject of pumping. Failing such an estimate,, the amount of gold duty .derived from the ground it is impossible to arrive at." It is very erident that the companies had no hope

of getting aid on the basis proposed by them—they simply wiabed the local bodies to admit the fairness of the principle, when they could, come and ask for assistonce in any form. Well, both local bodies are now contributing, and lot us hope the pumping question is settled for a time at least.