WELCOME.

Inangahua Times, Volume IX, Issue 1414, 16 June 1884, Page 2

WELCOME.

During the latter part of tho week there was a considerable scare amongst outside shareholders in the company, and shares were reported to have dropped to £4 10. How the scare got in circulation or from what source it emanated, it is hard to say, particularly as the local shareholders did not appear to be at all put out about it. It was known on Tuesday night that the reef in two of the leading stopes bad pinched out, and it was stated that owing to this cause the battery would not start crushing . till the following (last) Friday. The fact of the reef pinching out in one or two stopes is not, however, so uncommon an occurrence as to fully account for tho alarm manifested over it in Dunedin or elsewhere. There are a groat many stopes open in the mine, so that if any one or two happen to hit a thin place in the reef, the supply of stone can in general be kept up pretty well froni the others, until such time as the lode makes again. The stopping of the battery from Sunday till Friday no doubt heightened the alarm abroad, for the reason that according to the weekly returns of "stone crushed the quantity run through weekly for some time past only ranges from 60 to 80 tons, and with the large number of hands employed in the mine it was no doubt supposed that if such a quantity as this could not be wot out, things must have, been worse than they were l'epresented. The cessation of crushing must therefore have been tho principal cause for the alarm, more particularly as this was the first time that a. stoppage has been attributed to such a cause. The sequel would, however, go to show that the panic, if such it may be termed, was unwarranted, as on Friday last it was stated that the reef had made again in the stopes to the full dimensions and showed better gold than ever. The battery was set going on Friday, and the manager says he will be able to keep the stampers fully employed! As far as is known no shares were parted with locally during the week, and the only reported sale is a small transaction through Dunedin, the figure being £4 10.