SOME GOLDFIELDS RETURNS.

Otago Witness, Issue 1916, 10 August 1888, Page 12

SOME GOLDFIELDS RETURNS.

The saying that gold mining is a lottery is fully proved by the official return of the mining companies in the colony. A list of 93 companies in a Parliamentary paper shows that they have an aggregate capital actually paid up in cash of about £313,000, and that they have paid in dividends about £624,000— almost exactly 200 per cent., and the properties still remain to them. But the division of the aggregate profit among the companies has been marked by the wildest irregularity. Taking them by districts, as classified in the paper, Auckland returns 19 companies, the shareholders in which have paid up less than £30,000 hard cash, and have received in return over £328,000. The Reef ton district returns 41 companies; amount of cash paid up, £184,671 ; paid in dividends, £243,867. Mohikinui district, 5 companies, paid cash |capital, £10,822 ; paid in dividends, £2400. Westland district, 6 companies ; cash capital, £36,222 ; dividends paid, £16,360. Otago, 22 companies ; cash paid, £52,035; dividends paid, £34,156. Auckland, it will be seen, has had nearly all the good luck among the districts. But still greater unevenness is shown In the returns of the Auckland companies. The New Prince Imperial has paid £60,732 in dividends on a cash capital of £900, Moanatari, £121,365 on £3310, the Cambria £77,122 on £1181, while a number of others with paid-up capital ranging up to £2008 have not returned a single penny, though several years old. The Reefton district shows up fairly on the average, bufc take out the Welcome Company, with its yield of £110,250 on £3750 of actuallj paidup cash, the Keep-it-Dark with £88,166 on £2625, and there has not been £45,000 divided among the other 29 companies with their capital of £178,000 odd. Some heavy investments in the Reefton district have so far at all events, been remuneracive. Into the Wealth of Nations Extended, over £31,000 has been put, into the Inkerman over £15,000, in several others six, seven, and eight thousands, without return as yet. The heaviest investments in the Mohikinui and Westland districts have returned something, the smaller ones nothing. In Otago there are a dozen duck's egg companies. The best company, the only strikingly good one, is the Tipparary, with £13,500 paid on a capital of £120t This beats Auckland's best, unless the labour of shareholders, alluded to but not specified, makes a sufficient addition to the cost of the return. The tabulated return gives the dividends of the Blue Spur and Gabriel's Gully at only £311, but it is stated elsewhere that the company has declared dividends amounting to £187,000, from a yield of gold valued at £570,000. Not only is speculating in gold mining a lottery. It is as much so buying into what seem the very best mines. The New Prince Imperial, mentioned above, paid all its dividends soon after starting, and has been a dead horse since. So has the Caledonian mine (not included in the return quoted), which in former years yielded over £600,000 in dividends, and has since hardly been paying expenses. The Moanatari mine has barely paid of late years, but the owners have recently sold to an English syndicate for £50,000.