ALEXANDRA.

Tuapeka Times, Volume VII, Issue 371, 8 July 1874, Page 3

ALEXANDRA.

(From our own Correspondent.)

. On Monday last an accident happened to Mr. W. Hastedt, which was nearly attended by serious results. Mr. Hastedt was about to start for Clyde with a spring cart containing some furniture, when the horse suddenly bolted up Tarbert-street, and, turning sharp round Charnock's corner, the carfe upset, Mr. Hastedt being thrown to the ground with such violence as to be rendered insensible for some time; but fortunately, although severely shaken, no bones were broken. Both shafts

Of the cart were broken off short, and the

hosre galloped off, dragging them along with him, but was eventually stopped . without receiving any injury. The Molyneux is at a very low level, and a considerable number of Chinese are working on the river beaches. There are also a few European miners working on some of the old favorite spots on the river, the hard frosts liaving interfered with work on the ranges. Should the river keep at its present level, there ought to be ground available for working that would pay something over wages. Municipal matters are rather quiet at present, the supporters of the two candidates for the office of Mayor apparently reserving their energies until the day of nomination, when I do not doubt that the approaching tug of war will arouse their dormant enthusiasm. Amongst a variety of attempts to develop the resources of the district, tho proposed Steam Dredge Co. was one of the most pro- ' mising. Alexandra always had a weakness for dredging, and might have been appropriately termed the gold fishing village, as most ■of the inhabitants at one time or other had on interest in some of the numerous crafts engaged m raising the auriferous deposits of the Molyneux. Great hopes were entertained of the success of the steam dredge, and more than, one-third of the required capital was subscribed in the locality, a considerable Amount of it being by men who had an intimate knowledge of the river, and of the nature- of the obstacles to be overcome in order to work the auriferous deposits. The richest deposits had already been worked by : the hand dredges, but there was known to be a large quantify of ground that would barely , pay wages ; the gold was diffused through a great thickness of washdirt, and what was required was a quicker method of raising the stuff. The principle proposed was an ordinary steam dredge, such as might be seen any, day at work in Dunedin harbor, and the washdirt as it was lifted would have been -sluiced in the ordinary way ; but this appears to have been altogether too common-place an idea for outside capitalists, consequently 7 the- shares were .not taken up, and the affair collapsed. The scheme was not sufficiently sensational, gold mining being looked upon as an exceptional industry, not to be judged by the common rules applicable to any other, and to the ignorance of this fact shown in the drawing up of the prospectus much of the failure is to be attributed. Had the prospectus simply stated that the washdirt was to bo blown into the air by nitro-glyoerine, and the gold extracted from the flying debris and deposited in a fire-proof safe by means of a strong current of hydro-sulphate of chinanikin gas, there would have been no difficulty in disposing of the shares, and the shareholders in all probability would have been smiling otct their dividends, instead of mourning the money sunk in the preliminary expenses of the defunct company.

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