Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1889-02-21
THE BROKEN HILL.
Stories About an Australian Tin Min,
Which Read Like Romance


Which Read Like Romance.
At the end Of 1887 a passing travelar
knowing nothing about the colonie,
except what he learned from the Con
versation he heard in railway carriage,
and at dinner tables, might have coma
to the conclusion that nearly the wbos
of the prosperity Of Australia was ds.
rived from its gold and silver mine,
says the Contemporary HeUiedC. Men
were telling stories about Broken Nm
which were wilder than the stories n
romance.
There was young man, for exam.
pie, on a station in South Australia
who, three or four years before heard
the tale, was receiving 20 shilliugss
week and lis tucker as a bouudar7
rider He was playing euchre with
friend, who, alter he had lost all bis
ready money, staked an original Share
which be had just purchased for 9lOJ
or fl2O, 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 uursed by
stranger. The friend died; the sue.
cessful euchre-playerr recovered. When
he was better he said to the stranger.
"You have rendered me the greatest
service one man can render to another
for you have saved my life. You ought
to have a share of my luck. | will
divide with you. Here's check for
4l5,000. Ny share in Broken Hill ia
worth 100000"
| 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 | had
finished he said:
Yes; know the boundary rider
very wen aud 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,.
900.
People talked about Broken Hill as
we in England used to talk about the
1 3
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
new lode were rs common, aud
were listened to with as much interest
as reports in London club aboutd iYi.
sions in the cabinet when ministry is
in trouble.
Not only was everybody talking
about Broken Hill; an extraordinary
number of quiet people, who, in En-.
gland, would never touch speculations
Of the sort, held shares in it, The e1.
element was sufficiently intense when
was in Adelaide. After 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 whore 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
position, but had been very uufortun'
ate; just before you met him at lunch
con he had been Obliged to call bic
creditors together He has gone into
Broken Hill, aud is now worth ESQ
900.
lunched with this fortunate unfor
tunate gentleman in September; the
letter was written, / think, in Febru'
AIRY.
The seven fortv-acre blocks which
are included in Broken Hill proper
were purchased in 1868 by seven "sta.
ton hands, who each contributed
go, to buy a mineral lease of the
land, and TO start the mine aud work
1t for tin. The capital was soon eI'
hausted, and no Tin was found. S0me
of the members of he little syndicate
lost heart and retired, and then it was
determined to enlarge the company
from seven to fourteen.
In 1854 a fourteenth section could
have been purchased for f120; share
was actually offered to a frien' ofmne
al that price; some of the shares were
sold for less. The whole value Of the
mine was therefore less than tl,7OO.
On Jan. /, 1883. the shares were
worth in the market 9S,0JO,000. They
rose still higher / believe, for time
but have since declined. Whether
they have quite recovered l do not
know.