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Inangahua Times, Volume VIII, Issue 1298, 17 September 1883, Page 2

Encouraged by the success attending' his recent " washing up" over the Sydney races, " Nugget," of Hokitika, announces a similar undertaking on the approaching Melbourne Cup. Full particulars may be obtained on reference to our advertising columns , In the last "washing up" the first and third dividends fell to rssidfents of Hokitika, the second going to Westpbrt. The members of the Presbyterian denomination in Reefton and the surrounding district have decided to take immediate steps to erect a church building, and provide for regular ministrations. A meeting with this object in view was held last week, when it was resolved to make a canvass of the district for donations, and we learn that a sum exceeding one hundred pounds was shortly subscribed. The fearful mortality now going on among the "wild cats" of the Inangahua marks another epoch in the history of quartz mining here. Ten months ago the rage for mining leases was at its height. The whole district from end to end was parcelled off, and the country fairly bristled with pegs. One could hardly walk a hundred yards in a given direction without encountering an application notice posted up, and on certain courses it would have been possible to go for miles without losing sight of them.' The Gove/nment must have reaped *ff nice harvest over all this lease excitement, for each application meant the deposit of £12 10s., to say nothing of the rent of £1 per acre, which was also paid upon nearly every area. How many leases were taken up from first to last ;we ]hav"e no, present means of knowing. But Kwo* thousand would probably not be far wide of the mark.- Nearly the whole of these leases too had a marketable value the moment the pegs were driven into the ground, and in the form, o^ shares and subdivisions of shares passed readily from hand to hand at steadily growing prices. Locally the craze for this form of investment was all-prevading, and under the exciting stimulus of the hour it is feared, many snug, " stockings " and " nest eggs." were immolated, which, under more prosaic conditions, might have gone on accumulating like the proverbial snowball rolling down a hill. But the day of retribution has -6omei 'tThe, i Com-, missioner of Caown Larifts is abroad seek--* ing whom he may devour, and the end is not jet. It would be easy to moralise upon all this unfortunate and untimely wreck of enterprise, but it seems to be an inseparable element in the growth and develop Mien t of quartz mining . com muni- . ties. It is growth by flux and reflux, and its reflux's innings. : ? • , -> •. We notice that the Inkerman Company are advertising in the Dunedin papers for a battery manager. The advertisement doesn't say that none but. Scotch are to apply. The Globe company's works attract a great number of visitors from Reefton, being situated within easy walking distance. On Saturday and yesterday, the weather being fine troops of people went out to see the novel tramway; of. the company, and watch th^-' passage :ofpthe; huge buckets along the line. "*" "■ Hop Bitters has restored to sobriety and health perfect wrecks from intemperance. Peruse all.