The New Tribute Company.

Thames Star, Volume XV, Issue 4678, 4 January 1884, Page 2

The New Tribute Company.

A largely attended meeting of persons interested in mining below.the'4ooft.'letel was beld on Wednesday at Mr F. A. White's office, Auckland, several Thames gentlemen being present, _. and resolved to form themselves into a company, to be called the Caledonean Low Level Company, under the Mining Companies. Act 1872 and 1883. The promoters have acquired the ground of the Moanataiari, Kuranui Hill, Thames Golden Crown, Old Caledonian, and New Manukau, below the 400 ft. level, on tribute, for^a term of ten years* and have determined to commence operations at once. The following resolutions were passed : — " That the capital of the company be £50,000, in 100,000 shares of 10s each, nil paid up." "That the following gentlemen shall be the directors, namely :—Messrs J. M. Lennox (Chairman), C. Alexander, John Brown, Joseph Bennett, Joseph Howard, A. Saunders, J. H. Smith, Gr. 8. Kissling, and C. J. Stone, with Mr P. A. White as legal manager, and Mr T. A. Menzies, auditor."

"That all shares not applied and paid for on or before the 15th inst.j shall revert to this company, and shall be, dealt with by the directors of this company, as they deem advisable." ;;

A plan, showing the ground to be prospected, the position of the Moanatairi slide at the surface, the tunnel level, and the 80it- below tunnel level, its probable position at the 640 ft level, and the strike of the reofs, was laid on the table. It was prepared by a .Thames mine manager, and so conclusively showed the excellent prospects of the company that all present agreed to the scheme of works " proposed therein as the most feasible. The proposal is to commence a crosscut at the 640 ft level of the Biff Pump shaft, at a point underneath Tookey's shaft, and to carry it, in lan easterly direction, through the i centre of the Caledonian ground, in the Qfcago section of which the Moanatairi slide should be struck. After determining the strike of the slide, two crosscuts will be driven parallel to it, one on each side of the main crosscut, at a distance of between 50 and 100 ft. back from the slide. It is not expected that any hard gronnd will be met with in the prosscuts, as a strata of good country is dipping in on top of the slide from the Bed Queen and Waio* tahi ground. It is estimated that between 600 and 700 ft. of driving will exit, the slide, and as the general course of the reefs is north-east, the crosscut will probably pass through several. As the Deep Level Cross workings will be connected with the Imperial, no fears are entertained ou the score of ventilation, and the boxes now in the 640 ft south crosscut could be used to convey the air in to the face. As soon as a few preliminaries are arranged, operations: will be started. The work will be let in large sections, the first of which will be put in by hand, but by the time it is completed, the Moanatairi rock drill will probably have been secured and placed in position, when better progress will be ,made r ,|t is not proposed to appoint a manager; at present, but the work will ba supervised by one of the local managers. J v Theventurestarts with erery promise of success, and the promoters; and principal .shareholders are all men who will,,not stop at a call or two, so there'Us no! doubt the ground will receive a thorough trial. Tbe sum of 3d has to be paid up on each share,so,the company will com. mence with £1250 which is about what the main crosscut will cost. Calls are also limited to 3d.

The company will be of great assistance to the Deep LevelCrosß, as it will, besides giving some money for hauling dirt, Way £50 per month for drainage, and; if pay! able gold is discovered, it will giro new life to the district.

The directors met immediately afterwards, and instructed the manager to make application to the Moanatairi Company for the use of their rock drill, so as they may at once proceed to open up the mine in a vigorous manner.