MINING AS AN INVESTMENT.

Tuapeka Times, Volume VI, Issue 276, 15 May 1873, Page 7

MINING AS AN INVESTMENT.

Of late, and more especially within the last few days, we have heard a good deal of grumbling at the unprofitableness of speculative mining investment, and although we are not surprised that a great many recent ventures of the sort have not turned out well, the " investors " are loud in their complaints about their losses in the mines of Bendigo. The case of the Great Extended Hustler's Company affords one of the best illustrations of the extreme certainty of good results which attends the persevering quartz-reefer, and it also affords an example of a very striking character, of the risks which mere speculators run in trafficking in stocks, even of the very best character, without thought or foresight. We do rot here intend to refer to the extraordinary fluctuations which have characterized the market value of this mine of late. Our purpose is to show that the mining men who through many years had faith in this reef, and steadily held the stock in the well-known dividend-pay-ing claims on that line, have had ample return for their money, and a splendid reward for their perseverance. Those we speak of were men, who were, under all circumstances and vicissitudes, utterly regardless of the state of the share market, and looked not there, but to the mine, for information as to the actual or prospective value of their property. The Great Extended Hustler's Company during the year 1872 contributed 28,000 odd ounces of retorted gold to the yield for that year, and declared in dividends £87,500. During the same period, the Tribute No. 1 had 48,000 ounces of gold, and declared dividends to the amount of £141,900. The former company, up to the present time this year, have had 13,916 ounces of gold, and have declared in dividends for the first three months of the year no less a sum than £49,700, while the tribute have had 2,880 ozs. of gold, and dividends to the amount of £7,700 for the first three months of 1873. If we turn to the Johnson's Reet, we find almost equally good results. The Johnson's Eeef Gold Mines stock was until recently going a-begging, and shares were forfeited for the non-payment of calls more than once. Yet we find that last year they bad 2,200 ozs. of gold, and during the first three months of 1873 they have had a yield of 7,645 ozs. of gold, and declared dividends to the amount of £26,374. On the Stafford line the Golden Fleece Company has contributed £14,500 to the diviuend-list of the present year, yet we can all remember a time — for it is not bo very long ago — when this mine was said to be nearly worked out, We all know the history of some of what are now the best claims on the Garden Gully line of reef, and we know how gradually they fell into the hands of a few enterprising men. A got tired of his interest in them, so did B and C. They let their shares go for almost nothing. But D, aud the others who held on, are our " lucky " men of to-day. The Carlisle Company paid in dividends £21,200 last year. During so much of the present year as has passed the Carlisle has paid nearly £10,000 in dividends. The North Garden Gully paid in dividends during 1872, uowards of £25.000 ; this year they have paid already £19,920. The Passbye Company last year paid £22.000 in dividends, and during the first quarter of the present year, £10,320. On the New Chum and Victoria lines, the yields last year, and this so far, have been enormous, and with such figures staring us in the face, we wonder how any person will be bold enough to allege that mining as an investment is unprofitable. The truth is that it is the most profitable of all our industries. — " Bendigo Advertiser."