The Northern Daily Times.
Liverpool, Merseyside, England, 1853-11-22 00:00:00

THE GREAT ONSLOTV MINES.

We lay before our readers the following impor-

taut extracts from the Carlisle Patriot, as an intro-

duction to a few observations which we shall take

- -
an early opportunity to make respecting certain

movements now going on in Liverpool :
• •
THE GREAT ONSLOW CONSOLIDATED
- • . MINES.
(From the Carlisle Patriot, Oct. 15.)
" Bubble, bubble, toil and trouble,
" Fire burn, and Cauldron bubble.
We remember that some twelve months ago it was
whispered through Carlisle that a fortunate few in it had
been initiated into so good a thing in the deep mining way
that they were to be enriched out of hand. Pretty tolerable
things, it was said, had been done in California ; and the
Australian digoins, barring the voyage of eighteen thou-
sand miles, held out promises not altogether dark but that
the real El Dorado lay much nearer home ; to wit, in cer-
tain copper mines, "situated in the Parish of Breward,
near Camelford, in the County of Cornwall, extending
over several hundred acres of land, held under a lease from
Sir Ily. Onslow, Bart., for 21 years, from the 7th Feb.
1851, at 1-18th dues or royalty for the first five years,
and 1-15th for the remainder of the term, the small sum of
£8 being the only additional claim for rent or occupancy,
which, however, is deducted from the dues, having nothing
but the dues or royalty to pay."
The authorised statement went on to say that the mines
were worked at an expense of several thousand pounds,
in 1846, but were then stopped on account of the panic.
That,
" On the 17th of Janutiry, in the present year (1852), the
mines were reconstituted into 50,000 shares at 305.; the ,
lessees undertaking to sell 10,000 additional shares at '
not less than 30s. a share, or so many thereof as might be
necessary in order to raise £15,000, which sum, in -addi-
tion to the £3OOO already received, is to be appropriated to
the further development of the mine, and all costs what-
soever are to be paid therefrom until such sum of £lB,OOO
is wended ; the full amount of all sales from the mines
during the same period it is agreed shall go as dividends.
The mines are worked upon the cost book system, without
any liability beyond the first payment.
" The Engine Shaft is sunk 45 fathoms, and Bennett's
Shaft 50 fathoms from the surface, and is sinking to the
55. Levels have been driven about 100 fathoms at the 22,
35 and 45 fathoms, east and west. In the former level
Gozzan, the most certain and unmistakable indication of
great deposits of copper ore, has been extracted in large
quantities; in the 35 fathom level there is an immense body
of Mundic over-riding great deposits of yellow copper ore,
and the indication of the 45 fathom levels are of a still more
satisfactory and conclusive nature as to the value of the
mine."
After more in the same style, and assertions as to
the richness of copper ore produced, comes this para-
graph :
" On the 26th of May last a dividend of 2s. per share
was declared, arising from the sale of mumlic and copper

It will be seen by what follows that this statement is
false. The authors of it, however, had no qualms of con-
science ; they went on to make assertion of great prospective
profits to shareholders, and professed to quote the Daily
News to the effect that the 35 fathom shaft looked well for
copper, and that from it " some splendid specimens of silver
lead.were raised a few days a o." "An assay of the silver
lead alluded to in the report (they say) has been made by

" 10, Coleman-street, London, 13th Sept., 1853,
" THE GREAT ONSLOW CONSOLS COPPER MINE.

" Gentlemen,—ln pursuance of your instructions that I
should investigate the accounts of this company, and prepare
a balance-sheet to the 30th June last, I proceeded to Wade-
bridge, where certain books and vouchers of the company
were:submitted to me by Mr. Webster, the secretary. Having
carried the examination of the accounts as far as I deemed
essential under my instructions, and in the absence of the
register of shares, transfer book, dividend list, and receipts
for dividends, I beg to report, that it appears from the cost
book that this company was originally constituted as the
Great Mitchell Consolidated Copper Mines, in 5,000 shares,
of which it was agreed to sell 1,000 shares, at £3 per share,
it was determined on the 6th March, 1851, to call the sett the
Great Onslow Consolidated Mines ; and on the 17th Ja-
nuary, 1852, it was agreed to increase the number of shares to
50,000, of which 10,000 (or so many as would produce
£15,000) were agreed to be offered to the public at not less than
£1 lOs per share, thus increasing the capital to £lB,OOO 0 0
" The payments appear by the cost book to
have been as under :

From the formation of the company £ s. d.
to the 31st December, 1851 ... 3334 14 7
From 31st December 1851 to 30th
March 1852

1501 15 11

From 30th March 1852 to 30th
March 1853 .. .. 8829 11 2
From the 30th March 1853 to 30th