LYELL.

Westport Times, Volume VIII, Issue 1156, 6 March 1874, Page 4

LYELL.

[FROM OUIt OWN CORRESPONDENT.] There lias been during the past few days no inconsiderable amount of excitement in our quiet little township regarding the claims at tho now rush— New Creek. The workings are situate about eight miles from the Lyell and five from the Buller River. Tho track leading to them follows the New Creek for about four miles, from where it joins the Buller, some 3 miles below Lyell, after which a high spur has to be crossed. The camps of the various working parties being met with soon after the summit has been reached. Some of the stone brought in last week prospected fully twenty ounces to the ton. At least that is the estimate given by parties who from their long experience in quartz reefs ought to be able to form a pretty accurate opinion of its value. Several other leases have been applied for since the prospectors put in their applications for the Maiden City. These are the Tichborne—ominous name—and the New Creek Company (Nos. 1 and 2 North) and the Star of the South (No. 1 South). If the sums asked for interests in theso claims are any criterion of their intrinsic value they ought to be pile claims, for at this early period of their existence what might otherwise be regarded as fancy prices are demanded. Fifty pounds is the amount any speculative individual must pay for a half-share in thee prospector's, or Maiden City Claim. The others are not quite so high; ten notes being sufficient to acquire a half-sharein the Tichborne —the adjoining claim—and still less in the New Creek Company. From all 1 can learn there seems to be every probability of the reefs equalliug, if not surpassing, in richness any of those on the Alpine range or the famed Eight-Mile. I shall however be in a position to give you fuller information respecting them in mj next. The present crushing for the Break-'o-Day having proved so good the shares have gone up with a rush, and it is looked upon as a pile claim. That these expectations are pretty well founded may be gathered from the fact that during the late crushing fiftysix pounds weijihtof amalgam was sent down to the Bank, taken from the ripples alone, after only 51 tons of stone had been sent through the battery. The Monte Christo Company have declared a dividend of od per share. It was originally contemplated to make it Bd, but it was deemed advisable to make it the former amouut as the difference would enable operations to be carried on without necessitating any further call at present. The telegraph is to be opened in a day nf two. This will prove n. grp.at bo< n to all parties, since, by reason of the present miserable postal arrangements, our Saturday's mail hence does not reach Westport until late in the evening of the third day, being allowed a "spell" of some 36 hours at Christy's Junction. We certainly want some live Americans in our midst to instil into the minds of our rulers the great lesson that "Time is money." We have beeu visited by some of the Nelson Executive, and they have made exceeding good promises, expressed and implied. We await results with patience.