A BOGUS BOOM.

Auckland Star, Volume XXV, Issue 145, 19 June 1894, Page 5

A BOGUS BOOM.

THE MOUNT HUXLEY MINE

SECOND REPORT BY AN EXPERT.

"SALTED FROM END TO END."

Hobart, June 18. The geologiab senb to make a further examination of the field, telegraphs to the Government that the Mount Huxley Tunnel is " salted " from end to end, and he has proved beyond doubt there is very little gold in the virgin country.

A telegram from Launceaton, to the Sydney " Morning Herald," on bhe 6th instant, says : — The Government Geologist's report upon the Mount Huxley mine was tabled in the Legislative Assembly this afternoon. It states thab there has been foul play, as bhe samples were salted in order to assist crushing. The Government Geologist employed two men working on the mine, who carried out the work with a pestle and mortar, and a hammer on a plank. There were always good results when one man was present, bub the working was poor when the geologist waa absent. The Government Geologist took some lumps of atone and placed them in an unsealed bag, which was senb to Hobarb to an assayer, with instructions to wash the samples thoroughly before crushing. The crashing samples were evidently tampered with before reaching Hobart. The Government Geologist scraped the lumps, and thoroughly examined them for gold before bagging them. None was visible, bub on washing a quantity of fine water - worn alluvial came off, not reef gold. The matter washed off the lumps weighed about five hundred grains of gold, the yield being at the rate of from 80oz to lOOoz per ton. On crushing the lumps only gave colour. Foul play has vitiated all the tests, and the Government Geologist cannot tell the value of the deposit, if any. He believes a little gold exists, bub nob enough to make the working payable. He exonerates Mr Samuels and Mr Tin Buren, stating thab they gave the fullesb information. The revelation bas created intense diegusb. On the report being laid on the table, Mr Fenton moved the adjournment of the House to urge that Ministers should officially expose the greabesb swindle ever perpetrated. Mr Lewis, the leader of bhe Opposition, asked the Attorney-General if any steps bad been taken to sbeeb borne the fraud. The Attorney-General explained that the report had only jusb been received. The Premier said that action with a view to bhe punishment of the perpetrators would be taken at the proper time. HOW SHAREHOLDERS STAND. Shareholders, it is said, do nob stand b° lose more than £25 in any case. The agree* menb between the promoters and shareholders provides for thab. There are 100 shares at £250 each, 10 of which, divided into 100 of £25 each, were reserved for issue in Tasmania on conditions which also rendered them practically safe. The money paid for those shares is held by a wellknown firm of Hobart solicitors until the shareholders shall have expressed their satisfaction with the report of any mining expert, or experbe, cent by the Sydney subscribers to Mount Huxley for thu purpose of reporting on the sections. Should the subscribers be digsatistibd with the report, they will be entitled to receive buck their purchase money less the sum of £2 for every £25 share in the interest, that sum to be deducted on account of preliminary expenses. Provided that such preliminary expenses do nob bobal £2,000, a reduction will be made in bho charge in the proportion of 8 per cent, of the sum of £25. In a word, shareholders Htand to sink only thab amount, whilst I they have an opportunity of making a fortune.