Summary of the Week.

Thames Star, Volume XII, Issue 3939, 13 August 1881, Page 2

Summary of the Week.

Again we have to chronicle a very small weekly gold return, which goes to show that the field has not yet recovered from the shock caused by the flood, and not, we think, that the field is declining. In fact, the past week has proved this, as is shown by the fact of the Moanatairi mine having reopened. Though Mr Comer, the late manager, gave it as his opinion that it would take a deal of gleaning to raise a dividend in the present state of the mine, it seems to be the general impression among mining circles that the old mine is not nearly worked out, and that many a dividend will be paid to the shareholders yet. The fact of the directors having resumed operations so soon with a new manager certainly looks a roundabout way of changing the management, and is not commendable. A rise has taken place in Caledonian stook, consequent on the.discovery of gold at the No. 1 level, on a large reef, and in counjfcry which has not before been prospected. The gold was discovered on the hangingwall of the reef, and should only two feet in thickness of the quartz prove payable, an immense amount of stone will be easily procurable. As the change for the better has been gradual, and the indications of the precious metal are so favorable, it is very probable the reef will continue to improve. However, a few weeks at most wili suffice to open up the ground sufficiently to test its real value. No change of importance has taken place in the other mines during the week, but the discovery of gold, though in very small quantities, in the Bendigo United, may be the precursor of a good reef. The company about to be floated in England for the purpose of working the Fame claim, in the Waiotahi Creek, certainly promises to be a success. Active steps are being taken by its principal

promoter, Mr J. W. Walker, to get possession of the numerous claims which are inside the boundaries of the Fame ground, and so far he seems to have been very successful. We wish the adventure every success, as we feel sure it will prove a great benefit to the field.