MINING NEWS

Inangahua Times, Volume VII, Issue 1185, 27 September 1882, Page 2

MINING NEWS

THE WKfeK,

— w [From ouk Minuto I?EroRTEH.]

The vory bad weather of the last week had a most unfavorable eJFoct on tlio mining industry of tho cjistrict generally, and there is nothing neW really special to report, or to specially particularise. The chief excitement of the A-et,k has been the stone brought in from tne Great Western, which is exceedingly good, and shares have risen in consequence. A rumor that the reef had been struck |n the Pactolus, proved to be incovroci, i\\<\ shareholders have yet to wait, for tKo good fortune that, sooner or later, jfjigis' them. The Golden Treasure contract for the main shaft, is being vigonnjejy carried on, and has, already attained jj«^optli o f between 80 and i) 0 feet., this & the work of about two months, and will pay tho contractors well, at the rate they have undertaken it at. The Golden Fleece xtended is continuing its crushing of about 130 tons of stone, and will probably clean up about Thursday next. The Keep-It-Dark returns are hardly up to the usual mark this week, but the stove has been taken from all over the mine, and the result cannot be accepted as a fair average, there was nothing picked amongst it, and the yield i 3 vory satisfactorily accounted for. The sinking of the main shaft in this mine is going on as well as possible. The brokers have had rather a bad time of it lately, for the "spurt" is temporarily over, money is scarce, and stocks hang heavily on hand. There are very few investors about, though a number of the newly granted leases are being prosecuted vigorously. The Globe reef still holds a leading position, and the Surprise has advanced, rather than retrograded, there is however, a general dullness both in the mines and in mining speculations, and there is little to report from any quarter, v change for the better must shortly set in, for the weather seems to have taken up, and another buisy time will almost certainly follow.