MINING NEWS.
THE STOCK EXCHANGE OF PERTH.
The following are yesterday's quotations: — Gold. — Central, sellers 17s,
buyers 10s; Central Extended (pro.) sellers 1s; Fraser's, sellers 5s;
Fraser's South (pro), sellers 2s 6d, buyers 1s 9d; Hope's Hill (con),
sellers 1s; Waterhall (pro.), sellers 2s, (con.) sellers 6d; Yilgarn,
sellers 2s. Tin — Bunbury (pro.) sellers 5s; Spring Gully (pro.) sellers
9d, (con.) sellers 6d. Investment Stocks — Perth Gas, sellers 27s.
THE SPRING GULLY T.M. COMPANY.
The following report, dated Spring Gully, August 8th, has been handed to
us by Mr W. E. Clifton, legal manager of the above company: — Yours of the
20th July came duly to hand, in which you state tin bags and tools were
forwarded: none have arrived here to date. Re Barrow wheels: I have
managed to get on with what I have got, and don't think will require any
more. The assay returns you state, are certainly very low. However, I
may inform you the tin in the lower face I recently knocked off, is of
very inferior quality and sheelite being very plentiful with it, which is
not possible to separate from it, by ordinary streaming. The tin in the
face at present working is more free from it, and will give a better assay.
The bags obtaining the inferior will be duly marked. I am not by any
means getting on as satisfactorily as I would wish. I have been stopped
washing the last few days, through the box man and others leaving; they
having taken a tribute on their own account. I, therefore, had to confine
myself to stripping.
A large quantity of wash is now uncovered and ready for sluicing. I will
have the necessary quantity of hands on Monday. Washing will then be
continued forthwith. Since starting Mulligan's face, I had only one days
washing, which turned out six buckets of dirty tin. This is undoubtedly
far better ground than the face I last wrought. However, I may inform you
the best ground on the mine, so far as I know of it up to the present, has
undoubtedly been wrought out. I do not say, but there may be better tin
on the mine than any yet found, for I notice very little prospecting has
been done. It appears to me every manager that has been here, devoted his
attention entirely to rooting out a bit of tin in the gully where they got
the best prospects. I must say I cannot see my way clear to give the
Company satisfactory results, and I consider it is only wasting public
money and employing the class of men that are here as miners. In my
opinion the most profitable way for those concerned would be to let their
ground on tribute.
I am sorry I am under the necessity of giving you the usual month's notice
from the above date, and tendering you my resignation as manager for the
simple reason above stated, and it is not my desire by any means to stop
on a mine from which satisfactory results are not forthcoming.
I will dry the ore on hand and weigh it is as soon as possible. The
ground I have already stripped should turn out two tons of tin. However,
I will write you weekly the results.
(Signed) W. J. SHEPPARD,
Mine Manager.
THE RUBY G.M. COMPANY, KIMBERLEY
ACTION IN THE VICTORIAN LAW COURTS.
[ BY TELEGRAPH.]
(FROM OUR CORRESPONDENT.)
MELBOURNE, August 14.
Mr Justice Hodges, of Melbourne, and Mr John Stanley, of Kimberley,
Western Australia, shareholder in the Ruby Queen Mining Company, have
brought an action against three of the directors, Major Fitzgerald Moore,
George Bullen, and Russell, as well as the English and Scottish Bank, and
Mr W. G. Mennell, liquidator of the company. The Bank holds a judgment
against the company, which is being wound up under an order obtained by
the bank. Mr Stanley is the vendor of the mine, and and [sic] received
11,000 shares as payment for it. He brings a series of charges against
the defendants. The directors, it is alleged, obtained an overdraft from
the bank, and use the company's money in connection with other mines and
acted in collusion with the Bank by allowing judgment to be recovered and
liquidation to take place. The plaintiffs have asked for an injunction to
restrain the liquidator from selling the company's plant. An adjournment
was granted for two months to enable the answering of affidavits from
Kimberley.
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