REOPENING TIN MINES.

Star (Christchurch), Issue 8673, 13 July 1906, Page 2

REOPENING TIN MINES.

LARGE PROFITS EARNED

IN THE PAST.

Cornish people who formerly regarded their holdings in tin mines ac a speculation now hold the shares tightly as an investment.

Yet it. Ie only fair to outsiders to point out that with the exception of such industries as gold mining, where there is a standard prioe per ounce, or diamond mining, witli the price regulated by a controlling syndicate, all metalliferous mining should stand upon its merite as a speculative undertaking. Even in gold mining, with variable reejs, the fixed standard of price is no guarantee of regular dividends. But thoee who invest in mine shares usually expect a higher rate of interest than from land or railways, and are aware that this is accompanied by a greater measure of risk.

Subject to this proviso, almost any set in Cornwall under present conditions is worthy ot trial. Hence there are additions daily to the properties exploited, quite regardless of local or London fluctuations in price of tin or shares. Wheal Providence, in the Lelant district, is being taken in hand.

Wlien handicapped by crude machinery and old methods, come Cornish mines made remarkable" profits. The Cam Brea Company, after calling up £150,000, divided £393,000. The Tincroft concern called up about £92,000, but shareholders have received £268,000 clear profit. The Gwennap copper mines are estimated to have divided £2,500,000 sterling. The Dolooath'e dividends spread over a century amount to £2,000,000. The Wehal Alfred, in Hayle, cleared £130,000, and the Polberro, at St Agnes, made a profit -of £40,000 in one yeaa*. Tlie East Pool divided a quarter of a million on an outlay of £3000. The Lelant pays handsome dividends, although working ore a mile under the Atlantio Ocean.

Other concerns have distributed the following sums : —

Wheal Vor (now restarting) £1,000,000 CrenveT and Abraham . . 250,000 Wheal and West Chiverton . 230,000 Wheal Friendship . . . 300,000 South Caradon ... 380.000

Some mines have made heavy losses, due to mismanagement, poor lodes, or acute depression in the price of minerals. But this is common to all mining centres. Suoh large profits, however, prove the presence of vast and rich -ore bodies, and experts agree that although Cornwall has been worked several centuries, many lodes have been scratched rather than exhausted.