OUR MIKES.

Inangahua Times, Volume II, Issue II, 6 September 1880, Page 2

OUR MIKES.

LYKLL MINING.

(FUOM OUB OWN CoBRESPONDENT.)

A general cleaning up took place at the United Alpine battery to-day (Satur* day)} the quantity of amalgam taken frofnj the boxes and tables for the- week ended to«d'iy, was 440 oz**., the quantity of sljone being slightly under 150 ton". The 'total gold yield for the month is 542^ozs. retorted. These figures speak move! ehquently than words of the rich-" ness of the property, and entitle it to be rai.ked as one of the foremost mining rcntures in New Zealand. Tlie directors met in the evening, and unanimously de* cided to erect an additional five-head buttery, and it is more »han probable that a fnrther ten*bend will be put up by about Christmas next. The mine quite jusiiGcs this action on the part of the directors, for I can hardly venture to trust myself to tell you how well it looks. In order to provide for the pays tnent of the new battery withont causing any stoppage in the declaration of the reeular monthly dividends, it was de* cided to' deduct a smnll sum from each month's earnings to defray the cost, and tlie fust deduction on this account was made to«day, the balance enabling the direc'ors to declare a dividend of nine* pence per share, which will be payable on and after the 7th Jnstant. The quantify of stone crushJed" last week was something less than the-regular quantity, heavy rains having caused some inter*

ruption, but it can be relied that henceforth the direotors will be in a position to declare regular one shilling monthly dividends, in addition to providing for the moiety towards the erection of the supplementary plant. The success of this company has given a great impetus to mining here, and it is quite on the cards that before long Lyell will take much of the wind out of the Reefton sails.