IMPORTANT SALE OF MINING PROPERTY AT TE AROHA.

Waikato Times, Volume XXX, Issue 2450, 24 March 1888, Page 2

IMPORTANT SALE OF MINING PROPERTY AT TE AROHA.

» i.. i Tub Herat! announces that Air W. R. Wilson, of Broken Hill fame, to whom we referred in last issue, has concluded negotiations for the purchase from Messrs Firth and Clark, of the valuable mines and batteries owned by them at Waiorongnmai. These properties include the New Find mine, and the splendid battery at Waio rongomai. The price paid is £25,000 cash, and one-fifth interest, in paid-up shares, hi a company to be formed to work the property. Mr Wilson has also purchased the Silver King mine, in the same locality, for £1000 cash, and a further area of land, comprising some 30 acres, was pegged out in the same locality which it is understood is to form a portion of the new mine. In the whole enterprise Messrs Firth and Clark secure one-fifth share, and this is probably the main consideration which induced them to accept the offer of Mr Wilson, it is understood that they have expended upon the New Find mine and the battery from £35,000 to £40,000. Mr Wilson desires to contradict the statement, which has been published, that he has made this purchase on behalf of the Brokon Hill Proprietary Company. He has bought on behalf of himself and two or three friends. Mr Wilson had intended to leave on Thursday, but on intimation being made to him that his offer had been accepted he deferred his departure, and will now remain in Auckland till next week. This is a matter for sincere congratulations, and will, as we earnestly hope, be the dawn of a brisk revival of the mining interests in the upper Thames. It ia the intention ot Mr Wilson, and those associated with him, to send over men skilled in the treatment of ores, and to expend a considerable amount of capital, of which they have an abundance at their command, in the development of the mines they have purchased. Tβ Aroha, Friday. Great and important changes have just taken place in the ownership of a large amount of the mining property at Waiorongomai, Mr W. R. Wilson, who left here a few days ago for Auckland, having just completed the purchase of the greater part of the interest held by the battery proprietors on that field, and likewise the Silver King claim. Telegrams received here state that Mr Wilson has paid £25,000 for fourfifths of the Battery Company's property, the remaining fifth to be held by the original proprietary in paid-up shares in any company that may be formed. For the Silver King claim the former owners are said to have received £4000 in cash. The change of ownership is very favourably regardod here, as it is likely to be the means of bringing about a vast improvement in mining matters generally by introducing into the district a large amount of outside capital, together with men of varied knowledge, whose energy and enterprise havo effected such wonderful results at Broken Hill and elsnwhere in Australia, and which, it is hoped, will be no less fruitful of good here.