The San Francisco call., 1896-03-08

more for the interests of the miners them
selves than is the case in the gold regions
of the United States.
"In the colonies of Victoria and Queens
land the people resident in the different
mining districts are an important factor in
determining the value of shares. The
miners and residents generally nave and
take an active part in the buying and sell
ing of stocks. Each district has its local
mining bureau or stock board. controlled
and influenced by actual conditions as
they vary during the daily developments.
1.-THE system has proven that it is more
profitable for the many actually interested
in the mining business. In localities like
Bendigo, Rallarat, Clunes and Stowell in
the colony Of Victoria, Charter Towers,
Gympic, Croyden and marlborough in
Queensland sales are made In gold mining
stock twice day, the first call being from
half-past 10 to II o'clock in the forenoon,
and the other from half-past to o'clock
in the evening. At these times those form-
ing the representative portion of the town
meet and sell or buy as they listen to the
explorations and reports OF superlnten-
dents, owners or operatives OF the various
properties.
the mine, and they, together with the
other residents of the region, control IN
the aggregate enough stock to have a su-
is that immediate and reliable information
is publicly available regarding the daily
prospects OF the mine. Confidence is in
spired in the intending investor, who, by
means of the daily discussions, and subse-
ouent printed reports. is able to get at the
true condition OF things.
s'rhe system of local cooperative man.
agement of stock boards is the history OF
the mining industry in Australia, and 1t
has done more than all else to max e min
ing successful to the many interes ted as
opposed to the few magnates.
"In Bendigo, or Sandhurst, as 1t is some
times called the social conditions result
ing from this system are INFINITELY better
than in the mining towns OF California,
not excepting Grass Valley or Nevada City.
The. buildings, the general appearance OF
the city, the social and esthetlc surround
ings, are superior to those of any mining
town in California and ale to be compared
with Los Angeles more than with any
other place in the State. And in the other
towns referred to the miners seem to be
better off than miners in similar places in
this country. The social conditions are
superior.
''The people in such places have gone
there primarily interested in the industry
that started the town, ard the community
concerned mainly in the mines has grad
ually introduced the modern improve
ments and conveniences of well-regulated
CITY. {
The largest commercial centers like
Melbourne and Sydney have their gold
mining bureaus also, but they simply
echo the bona fde conditions proclaimed
by the bureaus in the several mining re-
gions.
1.-THE Australian colonies, particularly
through the eastern part of the continent,
are more highly mineraiized than a corre-
spending area of the United States.
THE output from many OF the mines is
enormous. The large number of people
interested in the business and having con-
fdence in the way it is conducted tends
to maintain the industry and permits of
new developments when they are desir-
able.
Il is my desire to see any gold-mining
exchange in this country operate on the
Australian system if the change can be in
troduced under existing conditions. / be-
lieve it is possible to make god-mining,
as it has been in the past, one of the lead
inc industries on the coast