PURIRI, Tho manager reports s—" Since my re port on the 19th inst, wo have extended the now level a further distance of 12fcct, thus making the total distance driven, since commencing seventy-four feet. Tho country through which we are driving is of a very tight formation, in which very slow progress can be made, but I am in hopes of getting into a more favourable class of sandstone in a few foeb of driv ing.—John O'SUIUVAN." GOLDEN POINT (Tat-u). Under Mr John WillionW enperin tendenco the works in hand are oil facing vigorously prosecuted. Tho mnin enpim shaft, being sank with three shifts o handp, is progressing most satisfactorily Up to the present orer 40 feet hnve beet punk from the collar of the shaft. Tin first 15 to 18 feot of sinking passed througl a sedimentary deposit usually met will lying on tho permanent rock formation • After the solid country bad been penetrate* ! a trouble set in l<y the influx nf eurfac soikage water, In order to keep tin , shaft dry tho manager had to resort to th< usual method of eecurely timbering am puddling of the shaft, and I am pleased t< say that it has had the desired effect. Th country being penetrated is of a voryfirn description, being thickly interlaced will quartz stringers and silica vein?, It bear a very kindly appearance but is very diffi cult to break. I am of an opinion that a lirr hard-class of country in a shaft is th cheapest in the long run, inasmuch as tho it is everlasting standing rock, and doi-s nc require tho same quantity of timber the would hate to be used if the ground was oi a soft nature, Mr Hnslett, representing Chambers and Sons, arrived at the mine during the week, It is the intention to proceed with tbo erection of the winding and poppet legs at once, A scow has lot! Auckland and probably has arrived by this time with the first load of machinory. Ii will be soon by the fore-going that the Golden Point Company mean business and from my long acquaintance wi'h Mi Ilaslett I can safely say that the work to bi undertaken in connection with this plant i in tbo bands of a thoroughly practical trades man who has acquired a wide and variei experience in all classes of work,

THE SHAREMARKET.
