The Wairarapa Daily. FRIDAY, OCTOBER 24,1884. QUARTZ REEF.

Wairarapa Daily Times, Volume 6, Issue 1822, 24 October 1884, Page 2

The Wairarapa Daily. FRIDAY, OCTOBER 24,1884. QUARTZ REEF.

The bursting of the Perry and McKenna bubble has not dissipated a popular impression that auriferous quartz reefs exist in the Masterton district and prospecting parties are still busy. For several years past expeditions have been made to reefs high up in the bills, and we believe it has been absolutely demonstrated that the stone contains at least traces of the precious metal. Tbe explorers of this remote region have never, however, expended any great amount of time and labor in ascertaining the value of these reefs, and though their existence has been a matter of notoriety for years no really satisfactory test of them has been made, We saw yesterday a sample of stone which was brought down on the previous day by a settler who was trustworthy and it certainly bore a promising appearance. Assuming that there is reason to believe that quartz of an auriferouß character exists in the neighborhood, it appears to us very desirable that a- systematic and business-like effort should be made to develop these reefs instead of replying upon the occasional spasmodic effort of some individual settler who has neither the leisure nor the money to do the work of prospecting thoroughly. It is quite possible that certain Wellington people who have been sending out prospectors into this locality may do all that is necessary, but it would be better ifMasterton residents, who must feel a keen interest in any gold discovery, were to take up the work of exploration and give the reefs a thorough overhaul, If a strong local company were formed in Masterton with good business men as' a directory, the question of whether payable gold exists in this neighborhood might be settled economically and expeditiously. Thoroughly efficient men might be despatched to prospect and the expense divided among a numerous body of shareholders would not press heavily on any individual, The season of the year in which prospecting operations can be conducted with advantage has just set in and the opportunity should not be allowed to pass. We are aware that last year a small company was formed which spent possibly forty or fifty pounds in prospecting, but we at the time did not regard this effort as at all sufficient, The company was financially a very weak one, and the men sent out by it were not exactly the kind ot prospectors that a good business directory would employ. In connection with Terawhiti a score of companies have been formed, each with a nominal capital varying from five to twelve thousand pounds, Masterton could easily float a single company with a nominal capital of five or ten thousand pounds, With a good provisional directory there would be no difficulty in placing the shares of a company of such proportions and with a penny monthly call the directors would have ample funds for conducting prospecting efficiently, and in the event of a discovery warranting a large expenditure they would be enabled to command whatever money might be required to take advantage of it,