THE LaMONTE FURNACE.

Thames Star, Volume XVII, Issue 5168, 10 August 1885, Page 2

THE LaMONTE FURNACE.

[By Telegbaph.]

[PBOM OIJB OWN COBBESFONDENT.]

Auckland, This day.

The Herald writes, regarding a meeting of the directors of the Smelting Company, held on Saturday :—"lt was decided to appoint a competent assayer to make tests and examinations of tho ore and tailings likely to be treated by the company at the Thames. Mr Johnson, of the Onehunga ironworks, an analytic chemist of considerable experience, was appointed to the position. Mr Lane, who was sent from Australia by Mr LaMonte to superintend the erection of the furnaces at the Thames and Karangahake, had a long consultation with the directors, and upon his "advice

certain matters of detail,were arranged to facilitate the startiog of the furnace about tha first week in October. The furnice is then to be run for two months by Mr LaMi>,-t(e, and it is estimated that it will ■pufily ; put; through 120 9 tons of ore per week, upon a consumption.of 15 tons of coke. After two months' run, if the furnace is found to fulfil all the guarantees giveu. Mr La Monte is to be paid for itand tho potent rights, by the company. We regret, however, to see at this preliminary stage a considerable amount of injurious and foolish specu lation in new companies and " ventures; many are the veriest ' wild-oat.' arrangements, and are got up by promoters who come to Auckland with specimens to trade away a few original shares in the newest and best things out. At the present time there is nothing whatever to justify a 'boom' in raining, and prudent men will wait to see tbe results of the experiments with the LaMonte's process before rushing into all kinds of new and risky ventures. We have every hope that the furnaces will be made to pay, and will increase the gold yield of the district, but that they will make rapid fortunes for anyone is extremely improbable. Mr LaMonte himself uttered a word of caution to speculators when he was negotiating for the sale of his patent rights, by reminding them that his furnaces cannot extract gold or silver from barren stone."