MINING.

Otago Daily Times, Issue 9041, 17 February 1891, Page 3

MINING.

A WONDBKFUL SILVUK MINE.

The report and half-yearly balance sheet ef the Broken Hill Proprietary Silver Mining Company, Limited, for the period Ist June to 30th Novomber 1890, is a further proof of the marvellouß wealth of this mine. 1 Discovered in 1883, very little but proßpeotlng was done till ISSS, when tha venture was floated into a limited company, and from this date, under energetio management it has had an unbroken record of success, surpassing even the expectations of ohe most sanguine. Although situated In New South Wales, Adelaide has derived the obief benefit of the trade, and also owns more than hnlf the shares, receiving in dividends over £50,000 a-month. Prom the commencement of emeltlog operations In 18SJ to tho 30th November 1800 the Broken Hili Proprietary Company's mine has produced 20.594.2720Z of silver, and 83.4H tons of lead. The silver is high grade, carrying a certain quantity of ROW, and realUea from Id to 2d per oz above market quotations for pure silver. The mine has paid.the shareholders in dividends and bonuses £3,168,C00; there has been expendod in working «psnses, maohinery, and all other charges, £3,284,102 17.9 d; nnd the amount of capital actually paid up was £10,000. , . At the present time about 2000 men are employed In the mine, whloh also affords employment to a very largo number of hands to furnish materials, auoh ai raising limestone for fluxing purposes In the smelting—the six raonthn' o'ltlay for this material alone being £31,127 6a. Timber for mining purposes to the vnlim of £11 019 was Imported from America, ■Ja3 mania. Western Australia, nnd this colony ; and a foundry In Adelaide employing 600 hands Is also kept going by tills and the neighbouring mines. A township of 14.000 inhabitants has sprung up in the course of five years; »nd, with the rapidly increasing development of several other mines on this wonderful lode, the city of Broken Hill bids fair to rival the famed Denver city. Tho following is a synopsis of the expenditure and returns for the six months, lit June to 30th November 18901— Dr. a s d To mine wages and salary... ... 95,4155 14 8 „ smelting wages nnd salary ... 34,090 8 S „ refinery wages and salaries ... 0,249 11 4 „ ore dressing.., ... ... 13.547 13 5 .. coke ... ... ... 103,339 19 5 ~ limestone flux ... ... 31,127 6 1 „ mining timber ... ... 44 f,19 fi 8 ~ coal ... ... ... 13,824 8 1 „ sundries, dynamite stores, &o. ... 17,303 13 3 „ charges on bullion (freight. Insurance, &o.) ... 42 501 2 4 ~ dividends ... ... ... 629.000 0 0 „ transfer to reservo fund ... 43,789 5 8 £974,758 13 10 Cr. £ s d By value bullion shipped. London ... 010.349 7 6 ~ „ refined silver load ... 359.028 13 5 „ „ ore sold ... ... 5,380 12 7 £974,758 13 6 Ore treated, 91,923 tons; silver produced, 3,697.19G0z j lead produced. 14.939 tons. The manager reports all thefsoea looking well, nnd tho developments at the new levels excellent. A valuable discovery of mien has been made in the northern portion of South AustraHn, 110 miles from Alice Springs, and 4SO miles from the present terminus of Hib Transcontinental railway. A shipment made to London was reported on as of excellent quality, and valued at from 16s to 20s per 1b for large sheets, nnd 8s per 1b for the smallest sizes. From a report we have just received, it appears that the -outcrop Is very extensive, 9 tons of the precious jchist having been readily extracted by two men, and several sheets of the unparalleled size of 42in x 441n. Hitherto sheets of ISIn square were considered quite the largest obtainable. Wo have been shown a specimen of this mica by Mr K. W. Van Sender, of Adelaide.

The Upper Walpori Alluvial Gold Dredging Company obtained 340z of gold for 4 days 19 hours' dredging last week.