OUR MINES.

Inangahua Times, Volume II, Issue II, 17 October 1881, Page 2

OUR MINES.

(FBOM OT/B MIKING BKPOBTEB.)

THE WEEK. Saturday, October 15. The promoters of the Diamond Drill Company have so far matared their project that the venture !has been fairly placed npon the local market, and the amount of encouragement received from the public leaves'little doubt of (he company being succsssfully floated. A question has been agitated during the week, which has a very important bearing npon the project. It is as to the power of directors to take upfshares in the Drill Company in a corporate capacity. The number of shares required to be taken up to float the undertaking is 16,000, and it must be* evident that unless those interested in mm ; ag' !r B,tep forward either privately or collectively as directors, and assist the proposal, much time will be lost in canvassing. Business people who can be only indirectly benefitted by the Drill Company cannot be expected to take as lively an interest in the venture as large shareholders, and it is to be feared that unless the latter do come forward more liberally tug scheme may miscarry. It is said that the directories of several of the companies have the matter under consideration, and it is therefore likply that ?om.e general action will shortly be taken. Mining gossip has been singularly scant during the past week/and the,"? operations of the sharemarket have been uneventful. The following are, the returns for the past week :— WELCOME— 9O3cz3 amalgam, fro-n say 60 tons. DNITED ALPINE-250023 ama.lffam, from 200 tons. No other company scraped plates this week.