THE BULLFINCH FIND.

New Zealand Herald, Volume XLVIII, Issue 14586, 24 January 1911, Page 6

THE BULLFINCH FIND.

A FORTUNE QUICKLY MADE.'

The Bullfinch initio in West Australia .-is now a famous concern. When this property was pegged off by Charlie Jones and his em-ployers—Dook-tfo and Shallcross—it was divided into 16 shares; seven of these wore held by Doolette, seven by Shallcross, and the remaining two-sixteenths by Charlie Jones.'

Shalleross was not nearly so impressed, or so sanguine of the future of the property as were the other two, and accepted an offer of £1000 from Doolette for his full interest (sever. 'ixteenths). However, after a crushing of some 200 tons for a return of some £54- to the ton, and the improving value as they sank on the lode, he wauted to buy back his interest. The best lie could do was to secure one-sixteenth, which sixteenth Doolette let him have for the £1000 ho (Shallcross) had taken for the sevensixteenths, and lis also bought one-sixteenth from Charlie Jones for £10,000. The shares then stood as follows:—Doolette, thirteensixteenths; Shallcross, two-sixteenths (costing him £10,000); and Jones one-sixteenth (plus £10,000 in cash). They then put this into a company of 500,000 shares, 100,000 of which they sold at 20s per share to a London syndicate, the amount to bo pub aside for working capital. This leaves the original holders with 25,000 shares for each sixteenth. These shares are finding a ready sale at from 52s to 565. Added to this, Doolette has largo interests in many other of the new finds, some of which aro highly spoken of.