THE WEEK.

Inangahua Times, Volume II, Issue II, 5 September 1881, Page 2

THE WEEK.

Satubdat, September 2

The depression in mining matters, which we had to record some months ago, has now given place to a condition of steady advancement and improvement upon all sides. Mines which had almost faded from public notice have'eome once more into popular favor, and the symptoms of a general revival are^unmistakeable on every band. The improvement is very significant in tbe Boatman's district, where jlate developments in tbe Jus tsin- lime mine have opened up a very hopeful prospect not alone for tbat company but equally so for its neighbors both north and south, and tbe best feature of this improvement is that it is likely to extend to the whole of tbe ventures in the locality. The South Hopefol Company adjoining has already felt the impulse, and on Thursday last 10,000 unallotted shares lying in the custody of the directors were placed in good hands at a figure which gives the company a nice little credit balance with which to follow up its good fortune. As we mei>« tioned last week tbe turn of the tide has also set in for the Fiery Cross Company, which wilt no doubt be favourably heard of during the summer. The iesolve of the directors of the Golden Fleece Ex» tended Company to immediately procure a diamond boring machine for the more expeditious prospecting of the present unexplored northern portion of (^the mine is an auspicious omen for the future of the Murray Creek district. One parlicu* lar reason why the company have arrived at this determination is because it has been found] that the country l^ thereabouts is traversed by a " dyke," which, as is invariably the case, completely divides and alters the geological formation, rendering the experience gained in the workings on one side off it wholly at faultjon the other. This difficulty the boring machine will readily meet, as a bore 'put in for a dis« tance of 500 feet on each side of the org : nal course of the reef cannot fail to pick up tbe lode either on one side or the other, and (bus save an immense amount of speculative driving. Those who have seen the diamond drills at work, and thus able to fully appreciate (heir usefulness us prospectors feel confident that the example of the Golden Fleece Company will be quickly followed by others, and should this prove the cace the development of the field will receive a wonderful stimulus duriug'tbe comiag"summer.

We subjoin the returns for the past week : —

WELCOME : 13(?loz7d>t of retorted gold for the month. Last weeks amalgam was 1030oz. UNITED ALPINE: 3760z amalgam from 246 tons of stone. WEALTH OF NATIONS: 58jz of retorted gold.