BULLFINCH BOOM.

Nelson Evening Mail, Volume XLV, Issue XLV, 8 November 1910, Page 5

BULLFINCH BOOM.

VALUE OF THE MINE. Pkess Association. —Copyright. (Received 9.30 a.m.) PERTH, Tuesday. Mr. Doolette values the Bullfinch mine at £1,500,000. ' THE RICHEST KNOWN" MINE. Extraordinary excitement and .speculation still mark the Bullfinch mining boom. The big mine is- how -regal ded by some authorities ; as> "the richest known.'' Southern 'Crosshas experienced many famous booms, but nothing to equal t'he frenzy t'hat now prevails-. 'Crowds of people 'have collected, and were, at latest ad* vice.-?, according to -a Sydney paper, ''madly rushing- about with pegs, urgent telegrams-, and bundles- of o-p----■■tion. papers." The boom is elcctrif-y----ii.g the ei'ty. Properties- are changinij- hands freely a.fc prices 200 per cent above 'tiio.se of three months "go Tiradesnien, particularly builders,, cannot cope.with th-e increase in business, and as for hotels, they aro I-ticked. Meanwhile, the 'Situation at. the Bullfinch mbine becomes clearer, and there are now grounds for aiitho-iita-tive statements. To understand : he position clearly, it is necessary to review t'lie mine's brief history, Six in onth-s -ago, Doolette, Jones. and Shallcrass applied for a- lease of 140 acres of 'wh-a-t they regarded as promising l;in-d. Jones offered a.n eighth siiare for a few 'lumdired pounds, and Sdiailcraps. a ' particularly " 'cute'' ! -ari. sold seven-sixteenths of h-:s -! are to Doolette for £IOOO. Later, when 'the mine began to .prosper, the dealings of -t'he partners- chamged. r>cliallerass was lucky to gab back i,i!' , -six-teen.th at the price Ire had re?ceived for seven, and a sixteenth inI cvest was recently sold for £IO,OOO. Six great lodes have now been lo- : : ! .ted. iFrom No. 1 324 'tons .'have ' een crus'lied for a yield of 23040z5., .vorth £7753. By work done, -'t'he •iwners claim that this lode will produce fully 15.000 -tons of ore, worth £('00.000. ' assuming a lOoz yield. Crowds of people visit the mine, i, here' everybody is entertained roy■illv by tile lufkv proprietors. The excitement in Adelaide is so great that brokers' clerks a.re commanding a salary of £1 a day.