CONDITION OF THE GOLDFIELD.

Waikato Times, Volume VIII, Issue 431, 20 February 1875, Page 5 (Supplement)

CONDITION OF THE GOLDFIELD.

The Advertiser in its monthly summary for Europe says: — "We need scarcely say that in the midst of this excitement and expectation regaiding the new El Dorado mining matters have been neglected here. It is a natural consequence ; and although the opening of Ohinemuri will eventually benefit the Thames very greatly, its piesent effect is to draw off public attention from this older portion of the goldfields. Speculation is at a standstill. There is no market for stock, nor has theie been for some time past. In fact many of our mines have been shut down (tempoiarily of course) because the shareholders, in their eagerness for the new field, neglect lo pay their contributions towards the working expenses of the mine ; and in exact proportion to the increase of confidence in the mineral wealth of Ohinemuri is the want of energy in developing the mines on this field. In several instances which have come within our knowledge .large sums have been expended in public works, opening up mines and reefs, and just as these were completed, and there remained nothing to do but stait stoping the lodes, the work was suspended. But although there is now a very great depression existing in our mining affairs at the Thames we have no doubt a revival will set in, and it may be caused by the development of the resources of Ohinennui. There are many now on the field who prefer taking their chances on the Thames, whose confidence in the resources of the Thames are unabated ; and -with the examples befoie us of the many revivals and depressions we have alieady experienced here, and the sudden transitions which have occurred in many of the Victorian gold-mining distiicts, there is certainly no reason to despair, although there is a present depiession." The total yield of the gold field foi the month from January 21 to February 17 was 7,853 ozs. 19 dwts. 6 grs. from 5,978 tons of stone, as compared with 3,313 ozs. from 2,730 tons for the previous month.