LYELL MINING NEWS.

Inangahua Times, Volume X, Issue 1621, 2 November 1885, Page 2

LYELL MINING NEWS.

I (From the lyell Timet.) The Half yearley meeting of the j United Alpine Compmy, held at the j office yesterday was very largely i attended, — there being seventeen shareholders, holding 28,677 shares, personally and by proxy, oot of a : possible 32,000, present, and the ' j number of new arrivals in the township together with the stir caused, and the interest manifested in the proceedings which the event occasioned, all tended to betoken a greater degree of activity than that which has prevailed on similar occasions in connection with this com pany's business, for some years past I The mining, battery manager's, and ) Directors' respective reports, and the j balance sheet were each re:»d, discns ! sed, aud adopted ; all of them being highly satisfactory, aud disclosing a promising and most prosperous condition throughout the whole of this company's affairs. During the past six months, an amount of £7,600 was paid j in dividends, (exclusive of the probable I sum for this month, .£I6OO. Between ths 24th of April last, and the . 6th October, instant, 4,284 tons of tons ! > were crushed, yielding 10,6010zs of . amalgam, which gave 3,8850zs of re torted gold, and during the current crushing, now in progress, (which started on the 6th inst.) up to yester day, — 540 tons more have Ihh-h milled, the yield of which is estimated at about 14540zs amalgam, bnt as the battery is to be kept running, probably until Tuesday next, — the day for retorting, both these latter items will be increased. There is a slight change in the new directory, Messrs Fennel I and Feddersen representing Lyell, — Messrs P. Butler and Hugh Graham, Reef'on (where, we nnderstand, a considerable number of the shares have been placed within the past few months) and Mr C. S Saxton, Nelson, Messrs M*Coy and Campbell, were re-elected Auditors, and a vote of thanks to the Chairman, Mr Saxton, terminated the proceedings of the meeting. The necessary permission from the United Alpine Company having lieen obtained, and all arrangements made, j regarding the construction of a cross ent from that Company's No. 6 level, by the Lamach Company ; active operations are to be commenced by the latter, on Monday next Messrs | Anderson and Dykes, two of the Directors, visit the ground to day, for the purpose of selecting the site for the branch level , aud otherwise laying-off the work. I Mining matters are improving, and it is not a difficult matter to perceive, that the coming summer is safe to bring Lyell a return of some of its' de. patted psosperity. There is an increased healthiness in the aspect of affairs, generally, md we are glad to hear, that business matters are also being materially benefited thereby. During the week, two fresh leases of ground situate at Eight Mile have been j applied for, and this furnishes another instance of the activity which is 1-eiog displayed in reefing circles, — the item being all the more noticeable, from tbe | fact that the applicants are such, as j will not let ground lie idle aud unwrought, as is too often the ct.se, when I a little exta prosperity is expected. The Eight Mile must soon take a more prominent place as a gold-producing locality ; and tbe result of former and recent operations, go to show, that the mines there more than warrant a plan and scale of operations of a somewhat more lasting and extensive character than those followed for some time past We shall have sohiethiug to say, in an early issue, regarding the necessity for increased crushing power at this particular locality. Oar remarks upon the more flourishing aspect which district matters generally are assum ing, must, of necessity, be limited on this occasion, but. the. JeadiugJeatures, ~^*c*Mtlk WW mVfim mtm

with its steady yields and nnlimited extent of stone ; the Lyell Creek Extd., — with the lowest level, the key to more country than any other undertaking yet started in the district ; the highly encouraging prospects of the d*fferent mines in work at Eight Mile, and the fare-arable nature of tbe indications so far met with iv the alluvial prospecting operations being earned on by the Mn.uka Fiat Company, an* stu-li, we think, as should justify a hopeail anticipation or real general progress, sod a farewell to doll times