MINING NEWS.

Inangahua Times, Volume VII, Issue 1033, 9 January 1882, Page 2

MINING NEWS.

■♦ [From o_it Mining Reporter.]

THE WEEK.

Saturday, January 7. The past wefek having been broken into by the occurrence of the New Year celebrations, it wad not until nearly the close that anything like a general resumption of work took place throughout the field. For this reason then, there is but little to record, but as Monday next will see everything once more in full swing, we may safely count upon a busy time in store. During the last few months there has been a great shuffling of the cards in relation to scrip holding. Nearly every company in the field has received a strong re-inforcement of "new blood," and we may therefore expect to see works pushed on more energetically than they have been for a long time past. The diamond drill for the Golden Fleece Extended Company will probably reach here in a month or six weeks' time. When in Victoria recently Mr J. Tijennery, the manager of the company, was fortunate enough to obtain duplicates of the patterns recently imported by the Victorian Government for the manufacture of diamond drills for the Mines Department of that Colony. They were the onfepatterns of the kind in Australia, and under any other circumstances the Golden Fleece Company would have had to send either to America or England, thus involving great delay and expense, to say nothing of the risk run of probable defects in the patterns so obtained. As matters happened, however, Mr Trennery was ;able to see the manufacture of the drillstarted before leaving Victoria, and by this time the work is no doubt approaching completion. Mr Trennery will we understand, leave for Melbourne during the present week, to be present at the testing of the machine, and to superintend its shipment. Much public importance attaches to this undertaking of the Golden Fleece Company, from a belief confidently shared in on all sides, that it will lead up to momentous results. The share market has suffered a slight recession during the holidays, but this applies more to a diminution of business than to a falling off in the price of stocks generally. This it was only natural to expect. Nothing short of a mania could have survived the holidays, and it is perhaps fortunate that share interest here has fallen a good way short of mania. The present week is, however, likely to see transactions as brisk as ever.