THE LONDON MINING MARKET.

Hot Lakes Chronicle, Volume 3, Issue 153, 6 November 1895, Page 4

THE LONDON MINING MARKET.

The Sydney Morning Herald o? October 12, in an article on the London mining market, says:—"Nine months ago the leading English financial papers warned the public against the risk of entering on mining I usiness without adequate kuowledge of the properties. But up to that time about £3,000,000 represented the capital of the companies that had been formed. Since tiien the registrations of new companies have been proceeding at an almost accelerated pace. To the end of 1594, according to the Economist, about £0,54G,000 had been asked of the British public tor mining and exploration purposes. Since then companies have been re2i'stered for carrying on operatoina in Wes-tern Australia, with capital to the amount of fully £21,000,000. Of course all this capital is not paid up. Even if only one fifth of it were subscrihed, the amount would pe out of all proportion to reasonable expectation of payable returns. The total yield of gold from Western Australia in 1894, was valued at £787,097, and for the first six mouths of 1895 it was £411,465. Since the discovery of gold in 188G, the out-turn has been but £2,139,889. It may well be doubted whether there is any justification for the formation of companies to the extent indicated by the above figures, which are exclusive of companies formed to exploit mining properties in the other Australian colonies, of which the total figures would run into about £1,500,000.'