THE SILVER BOOM IN AUSTRALIA.

Otago Daily Times, Issue 8077, 12 January 1888, Page 2

THE SILVER BOOM IN AUSTRALIA.

GREAT EXCITEMENT. rßr KLEOTBIO TELEGIIAPH.—OOPrKIGHT] (Per Press Association.) Sydney, January 11. (Received January 11, all. p.m.) There is a great boom in the silver market here, and also at Melbourne and Adelaide. | The excitement here is most intense, nothing like it having been known for years past. It was considered an extraordinary thing when, some time ago, the Broken Hill Company's shares went up to £200; but yesterday they reached £223 here, and at Adelaide they went £10 higher. The greatest proportionate jump is in the Central; other mines, however, especially the Junction, sharing the rise. It is known that holders have made splendid profits during the last few days, and brokers in Sydney have not been so busy for years as they were yesterday; whilst at Melbourne one Stock Exchange firm did the largest business ever effected in one day. Considerable excitement was also caused here by the publication in the papers of the news of the discovery of the silver deposit at Fairfield. It appears that the existence of the deposit has been known fcr sorno time, but the discoverers kept the fact to themselves until they secured a lease of the ground. Tho average of 93 assays is 185oz to the ton. A mining expert from Silverton thinks that there will be 20,000 people on the ground in two years. Fairfield is situated on the Clarence river, not far from the Boorook silver mines on Boorook Ranges, and the district is well wooded and watered. (Received January 11, at 10.20 p.m.) Eight assays have been made of the stuff taken from the Broken Hill Central mine, and an average of 2930z of silver to the ton was attained. Native silver is being obtained in la^;e quantities^ There is a splendid development, and the new discovery is 'affecting all miffing stock. • \