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OUR GOLDFIELDS.

Champion Lode Mining Company Registered Capital £75,000. (UY KXKCTUIC TIir.HGRATH. —COPYRIGHT.. London', April -1. New Zealand Beach's (Union B>-ach ?■ Gold Mining Company, with £00,000, .an-1 the Champion Lode Gold and Silver Mining Company of New Zealand, £75,000 capital, have been registered. [ow.v CORKIvSI'OXI>KNT. | Tio Akoiia, Monday. Very great satisfaction is felt here with regard to the floating of the Champioi. Lode Mine on the London market, news of which was made public on Saturday. It is looked upon as an event almost equal in importance to the purchase recently made by Mr AV. R. Wilson, at Waiorougomai, and its beneficial influence will quickly be felt in the fresh impetus it will give to mining throughout the entire district. In referring to the above most important news, the effects of which will soon be felt in the better tone that will pervade all business circles, the Te Aroha News has the following in last Saturday's issue:—"lt is with very great pleasuie we direct special attention to an announcement which appears in our column" to-day of a most important character, as intimately affecting the interests of Te Aroha, viz., the registration of the Champion Lode Gold and Silver Mining Company, with a capital of £75,000. Great hopes have long been entertained respecting this portion of the goldficld, and mouth after month have the tidings been watched for what have come at last. Tin importance of the news to this portion of the gold field can scarcely lie over-esti-mated. We heartily congratul-ite all concerned. To Aroha and Waiorongomai will now, we trust, together steadily progress and prosper, and each soon be the centres of a largo and thriving population. We have always had, and time after time expressed groat expectations of the future of the Te Aroha goldrield ; it appears as if our most sanguine expectations are about to be more than realised, and that speedily. Advauco Te Aroha ! Mr E- B- Walker Prospecting. Mr E. B. Walker, of Moanavale, returned home from a prospecting tour on Saturday, and left again yesterday morning. He has found traces of gold in many parts of the country he has been in, but speaks with great reserve, and declines to say if he has struck a patch or not. He must, however, think he is on the right track, or lie would not be away agiin so quickly. Thames Mines in the Australian Market. The " surplus ground," now the Marototo Company South (Limited), was a portion of the property, namely 15 acres, pegged out by Mcßrinn, the proprietor. The warden, however, would not grant him more than ;>0 acres, consequently the surplus ground reverted to the late proprietors, from whom it was subsequently purchased by the Sydney syndicate, represented by Mr H. S. Meyers, and to show the high estimation in which this property was held by the public of New South Wales a proposal was made to the syndicate to float it into a company with a capital of £45,000, and this was accomplished within a few hours without expense or advertisement, the property beiug considered, as good as the original company's. This belief in the excellence of the ground was founded on the careful examination of the strike of the reef made by Mr Seaver. The board of directors of the Marototo Company South will be the same as those of the Marotofo Company, the chairman being Mr William Macinillau, M.L.A. It is anticipated that great advantage will accrue, and that unnecessary expense will be saved to both companies by the amalgamation of these ollices. The syndicate have made it a stipulation that £15,000 shall be the working capitalof the Marototo Company, and that at least the sum of £10,000 will be devoted to work the surplus ground. It is not, however, anticipated that anything like these amounts will be required. The directors believe that after a reasonable time the mine will be self-support-ing. Shareholders as a rule in the Australian colonics are not so eager after dividends, although glad to receive them when available, as they are to see their properties developed in a thorough systematic manner. And this will at once be done with the ground recently purchased. Mr Meyers during his recent short trip to Sydney has disposed of several other properties in the Marototo district, lie is now in Auckland to see the purchases carried through, which means the distributing of between £15,000 and £'20,000, in addition to the large amount which it will take to open up the ground. Mr Jonathan Seaver, M.L. A., lias reported favourably upon the whole of the properties purchased by Mr Meyers' syndicate, whilst several others have, been rejected, consequent upon the unfavourable report of Mr Seaver. The syndicate will not accept any mining ventures which do not stand an undoubted test. An Opinion of the Hauraki field(BY TKI.KC.HAI'H.) Wklun'oto.v, Saturday. A hakvkst of gold for Auckland is anticipated by the Press, the opinion of which is just now of more than ordinary value. It lias undoubtedly aecoss to the very best expert information that is at present available. Tt concludes one of its leaders this evening as follows Noor.e can tell how much gold lies hidden in the ranges from Coromandel to Te Aroha. All we do know is that a mere fringe of it has been touched, and that everywhere on that fringe gold has been found. The difficulty hitherto has been that it has hardly been in quantity to pay for the working, simply because the methods were antiquated, and were not scientific. This will be changed. Science has been brought to bear, and if only Auckland will not rush the thing, but set her face against the slightest attempt to float fraudulent companies or spend her resources without the most careful survey, and the utmost precaution possible against failure, we feel satisfied that she will find a source of wealth, which will teach her to ridicule Protection, and make her wonder she strained so much after impossible industries."— Herald. Important Decision. Upon the application of Thomas Crawford for a special claim of 100 acres in Moa iatairi and Waiotahi creeks which cumo before the Warden's Court on Thursday last, Mr Northcroft said it was his intention to visit all these areis of ground before granting special claims. He would not grant them unless it could be dearly shown (1) that a large amount of capital was required to develop them ; (2) that expensive machinery needed to be erected ; or (3) that the ores were very refractory and required treatment by improved methods. This decision is of considerable importance to the mining community, and will prevent a goldfield being locked up for speculative purposes.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/WT18880410.2.18

Bibliographic details
Ngā taipitopito pukapuka

Waikato Times, Volume XXX, Issue 2457, 10 April 1888, Page 2

Word count
Tapeke kupu
1,115

OUR GOLDFIELDS. Waikato Times, Volume XXX, Issue 2457, 10 April 1888, Page 2

OUR GOLDFIELDS. Waikato Times, Volume XXX, Issue 2457, 10 April 1888, Page 2

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