COLD MINING SHARES

Gisborne Times, Volume XXIX, Issue 3398, 13 December 1911, Page 2

COLD MINING SHARES

PUBLIC NOT BUYING

[Special to Times.] AUCKLAND, Dec. 12Speaking at the annual meeting of the Auckland Stock Exchange this afternoon the retiring chairman (Mr. T. Hull) said that during the past vear there had bfeon a very poor market for mining. The decline in Wa.ihis Jiad weakened all gold mining shares. Another cause for the depression was the continual labor troubles which so seriously affected shares in all industrial concerns. Tho 1000 f- crosscut at the Thames had proved that gold existed, and future finds might cause tlic present depression to be a thing of the . past. The wars and rumors of wars had i also a disquieting effect upon the mar- » ket of high-priced mining stocks. Money had seldom been more plentiful in tho Commonwealth and the Dominion, and yet gold mining shares had never bocu more neglected. Gold mining. like other markets, moved in cycles, and they must wait till the turn came round. Mr. Hull said he considered there were signs of a better market, in, the coming year, with the great possibilities of coming upon a rich run at : Thames-low level; and also until the in- ; creased outputs from tire Grand Junction and the Talisman they also eon- i tinned to pay steady dividends- Before another year the Waihi hydro-electric plant would probably be completed, which would greatly reduce the cost of . mining, and enable the company to crush low grade ore at a. profit. The j exorbitant rent charged by the Government on mining areas held for the purpose of flotation was _ enough to check any effort in that direction, specially as these area?; were of no use whatever unless there was sufficient capita] to work them,.