The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1890-06-26
AN AUSTRALIAN Mine
The History Of The Great Gold Mountain
Of Queensland.
Something About the Rich Vein
That an English Syndicate
Offered Seven and q Half
Millions Sterling For.


sum then f7,5O0.0OO has been offered by
an English syndicate for the Mount Nor
gan gold mine Of Queensland and refused,
Negotiations have been carried ON for the
sale of large blocks Of stock and also for
the whole property, hut so far no arrang
ment has bcen arrived at, says the Pal
Mall Budget Of May -. The authorized
capital is Gi,0O0,O00, in Al shares, LIS 6d
being paid up. As the present market
quotation is about a. per share il will be
seen that the sum offered, although large,
Is not much above current estimates. The
offer was made after an exhaustive ex-
animation by three experts sent out spec
tally for that purpose. The shares
ave been as low as ~ and have
also been as high as fl7, and
the present holders no doubt believe
they have n good property al the current
price. Over f~l,0O0,OoO was paid in divi-
dends in 1859, a steady IS per share being
divided monthly, with the exception Of
December, when the payment was Il.
The paynien was also Is for January aud
February, l. I'd for March. and Is Al for
April. Even at l. the sum divided is fJ0.-
600 per month, or at the rate of 60 per
cent per annum. In view Of the negotia-
ions that are on foot, the following
sketch of this wonderful mine will be Of
interest:
IL is rather a big thing to say that there
exists anywhere such "a phenomenon as a
mountain of gold. and yet the title is quite
applicable when describing Mount Nor
gan gold mine Of Queensland. IL is no a
mass Of solid virgin gold. but at the same
time this unique hill has such n quantity
OF the precious metal disseminated
through almost every part of il that IL is
La tal nm MI aFtFaralant IN tall .F a. .n.
tain of gold.
IL is now a little more than seven years
since wv old Queensland miners, brothers
OF the name Of Morgan found themselves
IN Rockhampton pretty well ''stonc
broke" and thought they would try and
better their fortunes by a prospecting ex-
petition. Not having funds of their own
sufficient To equip them, they applied To
MIR. Hall, the then manag Of the Queens
land national bank. and he having known
the Morgans Tor years as hariworking,
intelligent miners, agreed Ia become their
'backer." That is, he was 10 provide
funds for purchasing tools and rations
while they were out prospecting. and in
return was To have "A share in whatever
discoveries they might happen To make.
IL was some time before anything was
ound 10y the prospectors, and at last the
great discovery was made quite accident
ally. They had been prospecting about
the hills on the Dee river and had found
traces Of gold, but nothing payable, and
were about quitting that part of the
country when, one evening, one of the
brothers, returning In camp. crossed a
steep, conical hill about five hundred feet
high, and sat down on one Of the ironstonc
bouldcrs, with which IL wa covered, To
smoke "a pipe. lie had no idea of finding
gold there, for Till then no one had heard
OF finding gold In "a burnt-looking iron
stone; but while sitting there lac amused
- L.. lA.-l La.
rock lying about, ~ examining them.
All of n sudden his eye was caught 10y the
CLINT Of gold so unmistakable Ia am old
digger. lie hardly believed il possible,
hut on looking further hc found specks Of
gold in other pieces OF rock. A few pieces
were taken back TO the camp, pounded
up and washed, with the result that good
prospect of gold was obtained in zach
ease. The. lucky discoveries Of what was
eventually 10 prove the richest gold mine
ever opened IN the world lost no time In
acluaintiug their "backcr" with their
find. Mr.. Hall offered two friends Of
his, Mcssrs. darcy and Pattison, "a share
in Ill. enterprise, which they accepted. A
visit was paid Ia the site Of the discovery.
which was distant ~ miles from Rock
hampton. in a very broken ountry and
"A collection made Of pieces of stone from
various parts of the mount. These were
sent tn the Sydney mint for assay and the
return showed an amount of gold equal To
40 ounces per ton IN several instances.
The next step 10 he taken was Ia obtain
possession OF the ground ms quickly as
possible. Half OF the hill was found To
bc included In "A freehold of $40 acres,
which belonged Ia an old Scotchman
named Gordon, who had a carrying
on "A dairying farm in "A small way for
some twelve years. His dwelling place
"a hut built of split slabs, with "A bark roof
was situated on a small Hat AT the foot
of the mount. The Morgans undertook
the negotiations with the result that the
whole freehold vas purchased AT
the rate Of Al per acre.
Very seldom has So valuable "a property
been purchased for 81 small "A price. FAX
ing The present market value of the
shares, those 90 odd pounds represented
t~i.oO,Oo. DID Gordon did not live Ia
learn the full value Of the opcr lac had