THE ROMANCE OF BROKEN HILL.

Evening Star, Issue 13002, 22 December 1906, Page 14

THE ROMANCE OF BROKEN HILL.

Tbe first person to <1 is cover gold at Mount. Morgan was the late Mr W. M*Kiniiiy, hot ho had no conception of the vast possibilities of the find, neither had the Cordons. Mr Donald Morgan sold (ho freehold to Mr Fred Morgan for £1 per aero. To the latter is due the credit of appreciating the value of the mineral wealth which lay buried in the hill that, then rose to about 1,200 ft above tbo sea. level, and 500 ft above the Dee River, and was no different from tly? many other peaks in the Razor back Ranges. Tbe first battery was erected about February 90, 1833, and it is commonly reported that the first day’s crushing more than paid for the plant. A second battery was erected in the latter part of the same year. Mr Fred Morgan had charge of the first battery, and was succeeded by Mr F. Mnycnberg. is 188? the late Mr Wesley Hall became manager. The chlorination process was started in 1886, Mr Trencar being the first to complete the barrel system, which was afterwards superseded by the present manager, Mr G. A. Richard, for the open vats, which have proved such a success, and without which it would have been impossible to treat the low-grade material. Oxidised ore can be treated for 3dwt and sulphide ore for 6dwt of gold ; the cost when smelting takes place on a large seal© cannot yet be ascertained. From September, 18S2, to JTuno 1, 1836, before the formation of tbe company, no records are available of the gold obtained, and it has been variously estimated at between two and three hundred thousand pounds sterling. Since June 1, 1836, to May 31, 1905, the returns have been Ore chlorinated, 2,439,236 tons, for a, yield of 2,862,2080z gold; total receipts for the nineteen years, £11,729,919; paid in dividends, £6,531,105; paid for material, machinery, and working expenses, £4,865,112, of which there was paid directly in wages £2,839,265, and £740,339 indirectly; the share to the State was £463,699. The capital of the company is in one million shares of 20s each, fully paid cp The totai dividend per share paid up to September 1, 1903, was £6 bis 7d. The highest monthly dividend paid was 2s 6d per share, in 1888, and the largest amount for one year was £1,100,000, in 1889- For several vears the dividend has been £150,000,*0r 3d per share per month, free of dividend duty. The area held by the company is 640 acres freehold sad 122 acres leasehold.