46

C—3

This company practically holds the outlet to the whole of the back country, owing to their having an adit-level running back into the range for about 3,100 ft. in length. For several years a considerable amount of money has been expended in prospecting the ground, but it is to be regretted that, up to the present, the company has not met with financial success. In former years a rich patch of gold was obtained underneath the floor of this level, which is known as the Point Russell adit. After going down for some distance the lodes get broken up, and are found to be unpayable. There is, however, still a great probability that, if a modern pumping plant was erected on the field with the object of testing the deep levels, auriferous lodes would be found below the depth at which this mine has hitherto been worked. Although the mine has not proved a success, it cannot be ascribed to any faults of management, as the manager, Mr. Clark, is one of the most energetic men in the Thames district, and is to be congratulated on the manner in which he conducts the workings of the mine, although the revenue derived from the gold is scarcely sufficient to meet the expenditure. It is to be hoped, however, that better times are in store for this company. New Alburnia. —This is the only other principal mine in the Moanataiari section. During last year twenty-two men were employed, six of whom were tributers. The latter obtained 1,441 tons of stone, which yielded 3280z. sdwt. of gold, whilst sixteen wages-men obtained only 1,100 tons of stone, which yielded 6570z. of gold. During last year, however, this company incurred considerable expenditure in sinking a shaft and opening out a level, also extending an aerial tramway in order to get their quartz taken to the crushing-battery in Tararu Creek. This has been one of the dividend-paying mines of the Thames, and, from what is known of the present working, it is likely to continue so in future. The mine is at a high elevation, and was formerly worked from adit-levels, but these became so long that it was considered more advantageous to sink a shaft and carry on operations from it. Formerly it cost a considerable amount for the transit of the quartz from the mine to the Saxon crushing-battery at Grahamstown; but the company purchased the Dixon's battery at Tararu Creek, and now sends down the ore from the mine by an aerial tramway. A shaft has been sunk on the top of the hill, from which the quartz is now hauled, and thence emptied into the hoppers to be sent down by the tramway to the battery. The last annual balance-sheet shows the company to be in a very prosperous condition. In addition to paying £4,966 10s. in dividends, the sum of £1,431 2s. lid. was expended in the purchase of plant. The liabilities of the company, after paying this money, were £365 18s. Id., but to meet this there was a sum of £250 in the bank. The former cost of crushing, when the quartz was taken to Grahamstown, was Bs. 6d. per ton, but the cost of crushing is now reduced to about 3s. per ton. The balance-sheet for the last year shows the receipts and expenditure to have been as follows :— Receipts. £. s. d. | Expenditure. & s. d. 900 loads of quartz and 5701b. specimen Mme — stone = 3,8660z. Bdwt. gold .. .. 9,735 3 8 Wages .. .. .. .. 2,019 12 0 Tributes ~ .. .. .. 189 3 3 Requisites .. .. .. .. 293 16 11 Tailings sold, 176 loads .. .. .. 189 9 3 Formation .. .. .. .. 231 17 7 Crushing and tramming .. .. 17 13 2 | Tramming and carting .. .. 156 18 3 Battery— Saxon battery-pipe .. .. .. 153 2 11 Requisites .. .. .. .. 185 7 5 Crushings .. .. .. .. 199 8 0 Company's battery wages .. .. 135 4 4 Requisites .. .. .. .. 24 18 2 OfficeSalaries .. .. .. .. 104 0 0 Pees and travelling-expenses .. .. 100 4 0 Stationery and advertising .. .. 37 3 7 Serving and legal expenses .. .. 21 15 0 Miscellaneous accounts .. .. 8 10 Plant Purchase of Dixon's battery .. .. 1,224 16 6 Purchase of steam-engine .. .. 184 14 6 Foundry works .. .. .. 21 11 11 Insurance .. .. .. .. 5 2 0 Dividends .. .. .. .. 4,966 6 0 £10,131 9 4 £10,074 0 1 The crushing-battery purchased froui Dixon's Company consists of twenty heads of stamps, seven berdans,and two Watson-Denny pans. Included in the purchase was an aeriel tramway connecting the mine with the battery. During the year ending 31st March last the returns were not so good as for the previous year. There was 1,100 tons of quartz obtained on behalf of the company for a yield of 6570z. of gold, and the tributers obtained 1,441 tons of stone, which yielded gold to the extent of 3280z. sdwt., making the total return of gold 1,1870z. ldwt., as compared with 5,9910z. 15dwt. for the previous year. This falling off in the returns has led to the reduction of the number of men employed. Last year only twenty-two men, including six tributers, were employed, whilst during the previous year thirty-three men were employed. Grahamstown. In this section of the workings is included the Victoria Claim, &c. During the year forty-one men were employed, eleven of whom were tributers. The latter obtained 568 tons of quartz, which yielded 7090z. 19dwt. of gold, whilst the wages-men obtained 45 tons of quartz and 350 tons of