The Caldwell tribune. [volume] (Caldwell, Idaho Territory [Idaho]) 1883-1928, 1889-06-01
AUSTRALIAN Riches.

Some Bonanzas That Make
Americans Ashamed OF the Fa-
nous Comstock Lode.
W. B. Wilson, who has been extensive-..
iy engaged in mining in New Zealand,
and Australia for twenty five years, Is
paying his second visit TO this country
says the Denver News.
In reply to the reporters questions
as to the present condition Of mining
in Australia Mr.. Wilson said:
THE Mount Morgan Gold-Miningi
company has gold property in
Queensland, Australia, which Is by
three-fo,d the biggest gold-raine In the
world at the present time. The market
value of the Mount Morgan property
is $65, ZOO, 900, divided into 100000
shares, which are readily salable at
$65 per share. This property produces
! 500 tons per week, carrying u value
of six ounces or 1920 gold per ton.
The Broken Hill Proprietary Mining
company owns mines in the Barrier
Range district OF New South Wales.
The principal mine now operating
under this company has q true assure
vein varying from 1S to l6O feet be-
tween walls. The first lot Of forty-sev-
en- tons shipped from the surface-work-
ings Of this property yielded 36,Soo
ounces of silver per tom. The vein OF
this wonderful mine is found in q hill
rising out OF an ordinary plain TO
height of 100 feet. The hill takes Its
name from the fact that 1t is broken up
moro or less in its course. The lode or
| vein has been developed three-quarters
Of mile in length by various shafts
and connections. The product OF the
mine is $50 tons per day, which il
handled by the company's smelling
plant, situated on the mine. The plant
employs three eighty-ton and five thir-
ty-ton furnaces. The output per week
| is 45O tons of lead and 100000 ounces
silver. We pay SIS per month per
share on 10000 shares, originally IS
sued at 60 or $45 per share. The aver
| age value of the vein of this great mine
is LOO ounces silver per ton. ana much
of it Is essentially milling ore, but Is
smelted by blending with ores carrying
heavy per cent OF lead. Some OF tho
| ores run Us high as 80 per cent lead.
THE Australian Smelling and Rein
ing company, whose works are located
at Adelaide, South Australia are treat
ing about 200 tons of ore per day. The
Broken Hill Proprietary company re-
Gently erected three steam stanios,
which are treating 900 tons OF orc per
day. We recently sold ten blocks In
| London for $4,000 cash. We retained
| one-third of the shares In the COM
pany, and the London purchasers place
1925, 900 to the credit OF the company,
to be expended in development "
What do you call block in speak
ing Of ten blocks?'
IA block is what is known In Amer
lea as mine, only there is vast dif-
ference in the territory. A mining
claim in Australia is forty acres and
eighty acres can be held in one block"
How do you procure titlep"
1--WE can procure title only by lease.
The title is vested in the governm ant
We lease the property for term OF
| twenty-one years, with the right OF re-
newal. Whom the lease is procured
we pay to the government survey
fee of 5 shillings per acre. and there
after we pay yearly rental OF 8 shil-
lings per acre"
"Will not the government soil the
mining land?"
mo; and so long as such lease ar
rangements can be effected there is
little desire to purchase, as there Is
sufficient title in the provisions OF a
twenty -one year lease with right OF re-
newal 1t would be impracticable ut
the present time in Australia to under
take to give title to those lands, as
they are unsurveyed and far distant in
new and unsettled regions.
1.-The Broken Hill district Is $3.50
miles inland, and perhaps little lone
" for our American friends employed,
but they are making money and seem
, to be we'll contented."
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