THIS MOUNT BISCHOFF MINE

Ashburton Guardian, Volume VII, Issue 2225, 13 September 1889, Page 2

THIS MOUNT BISCHOFF MINE

Referring to the annual meeting of the Moant Bfuohoff Tin Mining Company the event marks an era m the history of rhio prosperous corporation, find Is a matter of congratulation to tho shareholders and all concerned. The " Lauuceaton Telegraph" says: — "It la now 11 years and nearly s iven mouths ainoe the first dividend of tho company was deolared. and they have aaoooeded one another with unfailing regularity, varying, according to tho ex'geoo!eo of the oolpnfc, from 10s to £1 p^sr share, Oth or companies In Australia have declared large dividends for short psrlodu, but we believe no other mining company has with Baoh regularity declared cuob handsome dividends for bo long a porlod, while m»oy of tho moat noted m'n.'s m the vrorld have only reaohed that total after 50 y*arn' labor. The present, which ie the 149 th division, is at the rate of 15s par <ib are, tbe amount payable bolog £90C0, and tbe dividend tes theron £337 ICa. The total amouat paid to shareholder!! by this dividend <■ brought np to £1,005,000, equal to £84 18s per share, and beside*, the Colonial Treasurer has received £33,636 10d m the shape of a dividend tax. 'JLbe total output of ore to 30th June wati 32.413 tons — a small amount compared with ih© size of the dividends, as the value of the ore raised only amounts to £2,000,000, or just double the valuo of the dividends paid, The benefit to Tasmania m the distribution of money apart from that paid to the shareholders may be gathered from the following figures : — Wages, £523,000; cartage, £135,000; plant, £111,000; freights, £32,001); smelting works account, £97,700 The mine was discovered In December 1871, by Mr J mea Smith, one of tho mout indefatiglble explorers who have ever teaefited the Australian colonies. In 1873 the company was floated m 12,000 eharsß of £5 each, 4400 folly paid up being re* served by Mr Smith, who also reoeived £1500 cash, the paid-up capital only amountiag to £6100. The industry gives employment to over 400 bands."