(From onr Correspondent.)
CHTLLAGOE. Jnly 1.
Sinoe the re-Iormatlon or the Chilla- goe Proprietary, under the name of the Chillagoe Railway and Mines Com pany, matters generally have improved greatly. Several new syndicates bav<
been formed, and prospecting partier equipped. One of the local syndicate*, the Chillagoe Central, with a capital of £750 in 100 shares at £7/10/- each. £5 called up. has acquired two or three properties situated within a few miler of the proposed railway line.
'Several very fair lodes have beer discovered lately, one of them by M T. Leahy, assaying 3Goz. of silver, anil 31 per cent of copper Of course it goer without saying that this sample is not an average one. Two more lodet were discovered by Messrs McLellaad Bros, and sold to Mr Herbert Daly, of Melbourne, who is prepared to buy al1 shows offered him, on the following terms, viz., a certain sum down, Mr Daly to spend a certain amount ir
developing the mine, and if worth : working, cash according to value 1 This is a very fair way of doing busi ness, and Mr Daly's offer Is likely to be very largely accepted. Mr Daly is very cautious as to any remarks lie makes as to the value of the field, anc1
| places the very lowest estimate upoi I properties ; yet as he is said to b<
ready to buy into most companies o< syndicates about here, it is considered that he Is favorably Impressed wltli the future of the field.
Work out at Arbouin is being push ed rapidly ahead, about sixty mcr working for Linedale's West Chilla goe. Five shafts are being sunk or. the Lamington, others on the Lost Watch and Turn Back lodes. Tbt majority of the mines are looking Ten well, and each foot the shafts are sunk ' show a narked improvement in thr width of the lodes and the quality of
the ore. Up at the Top Camp, a mark-j
ed improvement is noticeable in the
Spaniard and other mines. Mr j Charles Roes, one of the prospectors for the Linedale Syndicate, discovered two fair copper lodes, about four milet from the main camp at Arbouin. Mr Boss is one of the most successful pros pectors up this way. He had been away for a short spell, end returned tc Arbouin on Monday: going out or Tuesday he found one lode, and anoth er on Wednesday. Dozens had been all over the country prospecting, but could not discover anything with enough copper in it to make a half
Work is practically at a standstill on the various mines of the Chillagor
Railway and Mines Company, as it I is the intention of the Company to sink all shafts by contract Tenders are called for the sinking of shafts, each 100ft-, on the Glrofia, Griffiths
PP-A. No. 1, P.P.A. No. 2, and Harper, leases. Tenders dosed on the 4th j but the successful parties are not yet ,
The Linedale West Chillagoe art
also calling tenders for the sinking oi I shafts a similar depth on some ot i their properties. Scrip in this com- i pany is now available. ;
Mr Randolph Bedford arrived faer* i last week, and proceeded oat to ISuxi