St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-03-18
THE BROKEN HILL.
stories About an Australian Tin
Mine Which Read Like Ro-

Stories About an Australian Tin
Mine Which Read Like Ro-
nance.
AT the end of 1887 passing traveller,
knowing nothing about the colonies ex-
cept what he learned from the conversa-
ton he heard in railway carriages and
dinner tables. might have come to thel
conclusion that nearly the whole of the
prosperity of Australia was derived'
from its gold Ond silver mines, says The
Contemporary Review. Men we're tell
ing stories about Broken Hill, which
were wilder than the stories of ro-
nance.
There was a young man, for example,
on station in South Australia, who,
three or four years before / heard the
tale, was receiving 20 shillings week
and his tucker" as boundary rider.
He was playing euchre with friend,
who, after he had lost all his ready,
money, staked an original share, which
he had just purchased for 41OO or e12O,
in new silver mine. The boundary
rider won.
A few months later he and another
friend went up to the mine to see how
it was going on. AS they were return
ing to Adelaide they caught danger
Gus fever, and they were nursed by q
stranger. The friend died; the sue
cessful euchre-player recovered. When
he was better he said to the stranger:
''You have rendered me the greatest
service one man can render another; for
you have saved my life. You ought to
have share of my luck. l will divide
with you. Here's a check for G15, 1000.
My share in Broken Hill is worth $780,
OOO."
was telling this story at the table Of
friend of mine in London a few
months after my return to England,
There was only one guest besides my
self, and he was well-known stock.
broker from Melbourne. When I had
finished he said:
Yes; 1 know the boundary rider
very well and did business with him.
The story is quite true. He held his
share for time, and sold out at an
enormous price, but if he had held
till now he would have been worth
9600.000.
People talked about Broken Hill as
we in England used to talk about ths
Tichborne trial. 1t was on everybOdy's
lips. They quoted the last price of
shares as we quote yesterdays returns
during general election. Reports
founded on private information from
sure hand about the wonderful yield of
a new lode" were as common, and
were listened to with as much interest
as reports in a London club about di-
visions in the cabinet when ministry
is in trouble.
Not only was everybody talking about
Broken Hill; an extraordinary number
of quiet people. who, in England, would
never touch Speculations of the sort,
held shares i'll it. The excitement
was sufficiently intense when 1
was in Adelaide. After l left, so the
correspondent wrote to me, it became
more intense still. One professional
gentleman, who usually leaves the city
for two or three weeks during the heat
of Christmas, spent his holiday at the
'cOrner" where the brokers meet, and
claimed to have made $4,000.
You remember" writes my friend,
"Sitting next to Mr.. - at Mr.. IS
luncheon. He had held very good po-
sition, but had been very unfortunate;
just before you had met him at lunch
eonh he had been obliged to call his cred
ltors together. He has gone into Broken
Hill, and is now worth e150.000."
l lunched with this fortunate I'M
fortunate gentleman in September; the
letter was written, | think, in Feb
ruary.
The seven forty-acre blocks which are
included in Broken Hill proper were
purchased in 1888 by seven ''stationo
hands, who each contributed a70 to
buy mineral lease of the land, and to
start the mine and work it for tin. The
capital was soon exhausted and no tin
was found. Some of the members Of
the little syndicate lost heart and re-.
tired, and then it was determined to en-.
large the company from seven to four
teen.
In 1884 fourteenth section could
have been purchased for 9120; share
was actually offered to a friend of mine
Of that price; some of the shares were
sold for less. The whole value of the
mine was therefore less than e1.700.
On Jan. 1, 1888, the shares were worth
in the market sS,000,00o. They rose
still higher, [ believe, for time, but
have declined. Whether they have
quite recovered do not know.