The capital is 100,000, in 100,000 shares of 1 each, of which 60,000 shares are issued fully paid-up to D. Preddie, T. M. Preddie, D. Allan, and J. Forrest, of Macrae's Flat, and L. Hopkins and J. W. McCrostie, of Christchurch.
The company takes over the mine, battery, etc., and all plant in connection therewith as a going concern. It is stated that this mine is producing a large quantity of scheelite, which is worth from 160 to 200 per ton according to assay value.
It will be remembered that the Golden Point mine, along with the scheelite mine at Mount Highlay, was at one time the property of Messrs W. and G. Donaldson, who sold out both mines to a Christchurch company for a large sum.
The company evidently did no good, as both mines were sold within a few years, the Golden Point mine being purchased by Messrs Preddie, Hopkins, and party, and the Highlay mine by a Dunedin syndicate, consisting of Messrs Harman Reeves, R. A. Matheson, and others.
The Highlay mine is being worked with very encouraging results.
The reef, which contains both gold and scheelite, is stated to be about 5ft wide, and the battery has started crushing.
This latter company is fortunate in that it has a fine lignite deposit on the property and a good supply of water. Prospecting is going on at Barewood with encouraging results.
The scheelite mines at the head of Lake Wakatipu are stated to be doing well, and turning out a large quantity of ore. According to the Mining Standard scheelite has been sold as high as 1000 per ton in America since the outbreak of the war.
•Instances of cows having been in milk for periods covering several years in succession are not uncommon, but a well-known resident of Stirling owns a cow which must surely have established a record (says the Clutha Leader).
This animal, which is of the Holstein breed, and has only had one calf, is now being milked for the eleventh year in succession without interruption, and is at present in the pink of condition, and is just coming on to the flush of her milk.
•Satisfactory progress is reported in connection with the establishment of the Cromwell Canning Company's works.
The Argus is informed that the installation of the plant for power purposes will be put in hand this week, and the other plant will arrive in the near future. The canning plant is an entirely new one, and is being imported from Australia.
It is said to be one of the best available, and will have a minimum capacity of 30 rabbits a minute. Provision is also made for handling fruit if sufficient inducement offers.
•The Otago Land Board had before it yesterday an application from an Otago Central settler for the transfer of a holding from a vendor to himself.
The board, it is understood, refused the application on the ground that the applicant was seeking the land for his family, which consists of a number of sons eligible for active service who have not yet enlisted.
The applicant referred to already has a fair-sized holding of land.
- ODT, 28.9.1916.
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