Mining Review of the Week.

Thames Star, Volume XI, Issue 3594, 3 July 1880, Page 2

Mining Review of the Week.

The past week has witnessed one of those unique phases in the craze of speculation—for two or three days everyone had shares to sell, and buyers were few and far between. . This, of course,'caused a depression in the market which, how* ver, towards the close has begun to pick up. The only cause to which we can ascribe these sudden lulls is the number of persons in business, with smnll capital speculating. These hare their bills to meet and cannot hold shares for any length of time, and must sell, after at a loss. . •■'■••'-•'.

During the week considerable attention has been directed to the mines working from the Caledouian shaft, viz, the Caledonian, Cure and Kuranui Hill. /For some weeks, work has been somewhat hindered by the cessation of winding operations The completion of the new poppet legs ore? the shaft has enabled operations to be rigorously proceeded with, and as all the mines are working on or in proximity to golden stone, there has been some demand for the shares.

Notwithstanding the, recent splendid returns, Alburnias are coming down steady, there being evidently a general impression, that after the exhaustion of the present specimen block there will be a season of depression in the stock of the mine. There may be, but we ,hare every confidence that the management will speedily develop other rcsoarces. When the present manager took charge of the mine, a little more than a; year ago, the market price of the shares was 18s. Since "then the mine has paid £3 15s a share in dividends, while the average price of the scrip has been about £3 per share.

Wliau shares seem to be in little demand, though during the week the mine has been looking somewhat better than hitherto. Some blame the mine and others the management—on which the fault lies time will show.

Several of the new companies are now at work, and the greatest confidence is felt that they will be the means of making discoveres in some of the vast tracts of virgin ground in the vicinity. The Victoria have cut the lode but nothing is yet known respecting its value.