The Evening Star. PUBLISHED DAILY AT FOUR P.M. Resurrexi. SATURDAY, SEPTEMBER 17, 1881.

Thames Star, Volume XII, Issue 3969, 17 September 1881, Page 2

The Evening Star. PUBLISHED DAILY AT FOUR P.M. Resurrexi. SATURDAY, SEPTEMBER 17, 1881.

Aibeady two areas of ground have been taken up—tbe Southern Cross and the fame—the owners of which are taking steps to float a company with a large capital on tbe English market. We have frequently advocated in these columns the desirability of encouraging the investment of foreign capital, and pointed out that facilities were greater on the Thames for the profitable investment of such capital than in most other parts of New Zealand. For years large sums of money have been spent in Coromandel, supplied by English shareholders, arid we regret to say, so far without encouraging results; yet similar ventures on the Thames would, in all probability, give much more satisfactory returns. At the time the attempt was made to float the bogus Haven Company on the English market, we suggested the formation of a legitimate company by the holders of well known valuable claims, believing that, with reasonable grounds for success, money would be forthcoming in England. The idea was taken up, the resnlt being the organisation of the Southern Cross Company. Since -then Mr Walker has been active in promoting the Fame Company. We are actuated in thus referring to the ventures already in the market, for the purpose of suggesting the formation of another company to work an area of ground which we believe is second to none in value on the goldfield. We refer to the Waio-Karaka flat—the Queen of Beauty, and the adjoining claims. It is almost unnecessary to call to mind the past history of this district, to refresh readers with the mention of the returns obtained from the Queen of Beauty, the old Bright Smile, or the promising prospects of the Vanguard, the Queen of the May, and City of London, in order to strengthen our argument in favor of a company being formed to systematically work the valuable ground in this locality. Not only woujd the area already held by the Queen of Beauty form of itself a very good property for a company, but some adjoining ground might be secured, and at least 50 or 60 acres be held for gold mining purposes. So favourable inclined are the residents of the goldfield towards this locality that a great portion of the shares would be secured on the Thames, and Auckland men would be without doubt found putting money into the venture. The battery erected by the Bright Smile company is yet intact, and could no doubt be secured by the proprietors of the Queen of Beauty, and thrown in as a part of the property of the proposed company. When it could be ad?anced that the present proprietors have at great expense erected pumping machinery and successfully worked the ground with a comparatively limited capital, investors would be convinced of the genuineness of the venture/and webelicTtr Uttle difficulty would be found in securing the required capital. We trust to be able to chronicle the formation of such a com* pany as we now suggest.