MINING MEMORANDA.

Tuapeka Times, Volume V, Issue 238, 22 August 1872, Page 8

MINING MEMORANDA.

"It is really wonderful," the " Kyneton Observer " writes, " what a magical .effect a little gold will produce on the public mind. On .Friday night shares in 'the Tommy Dodd Company could have been bdught ' for anything in the shape of coppers,' as the sharebrokers express it. At midnight on Friday the reef, what is supposed to be the western reef, was struck. The sharebrolrers and ibe knowing ones scoured the town on foot on Saturday, rode over the country, and set all the wires at work wherever shares were, to be bought up. Many who were suffering from that sickness produced by hope deferred, and who were not on the qid vive, parted with their shares for only a trifling consideration. People are often caught napping. Men who are skilled in share-buying don't wear their hearts upon their sleeves, or show their knowledge in their faces, They are pensive, childlike, and bland. One of our speculators who holds a large interest in the mine was- ati Sandhurst. A friend telegraphed, ' Tommy Dodd struck the reef. Looks well. Mind yonrself.' He had barely read these words when another wire came, stating, ' Can get 4d for Dodds. Have an order for 200. Have you any to sell ?' The answer, we believe,' was wired^ 'Not for Joe.' On Saturday night the shares that might have been got 24 hours before for 2d each were worth from 12d to 18d each." Auother instance of the luck of a»ining and of the pluck of miners has just cropped up at G-ordon, Victoria, in the case of Greed's Reef. This lode was at first discovered and worked several years ago, by two brothers named Greed, and a company was formed after that to work it on an extensive scale, but by some supposed bad management the mine did not pay, and after a shaft had been sunk some 300 ft. and two or three drives put in a long way to the north at different levels without getting the rich stone that was said to be in the lode, the shareholders refused to pay more calls and the company collapsed, and thus terminated their expensive style . of work. For the last two or three years, however, the Greeds have stuck to this reef like limpets, and had the satisfaction a few days since of striking what they say is a continuation of the orfginal reef a little south of the shaft, and very close to the surface. They are getting good gold bj washing the lpose stone, and samples of the, quartz sent into Ballarat lead to the expectation that the lode will be very rich. Some of the leading mining men here have taken the thing in hand, and intend to form a company to work it ; 100 promoters' shares are to be offered at £5 each. The diamond seekers of Southern Africa must have had their pockets i better lined than the diggers on the goldfields of New Zealand, as we see by, reference to the " Natal Colonist " that a race .meeting being advertised to take place at the mines, the site for the grand-stand fetched £920, and that ori the day following the purchase, no less than 3000 tickets for Beats thereon w6r& r sold without difficulty at one guinea apiece.