Sydney Notes

Feilding Star, 13 March 1888, Page 3

Sydney Notes

A correspondent in Sydney writes under date of February 25 :—" The prevailing topics on this continent are silver, gold, tin, copper, and coal. Companies are floated before the prospectuses are issued, and; this is nothing new. Three thousand new companies hare been floated here in eighteen months. The Broken Hill company puts but 235 tons of ore per week, besides this the gold obtained pays all the working expenses. The shares (£2O paid), which were worth £30 a year and nine months ago, are worth to-day £407. I went down to the Mining Exchange yesterday. Eh! man it was a sight ! The transactions were great, and the excitement was «qually great: It is perhaps needless to tell you, that one man invested £3000, and in two weeks made £14,000, bought into Broken Hill, and went Home. It is now three months since, and if he sold out now, he would be worth over £60,000. That is a nice surprise for him when he gets back in another few days. As a general report of things commercial, everything is brisk, profits good, and stocks generally low, both in bond and warehouse. The country is looking well, grass being in great abundance. Many English noblemen and merchant princes are investing largely in city property and the mines, hence the great jump during the past four or five months. I wish you could come over here for a trip, and see some excitement. If you did you ■would never live in New Zealand, or that lively place— Feildiug. I saw Harcourt, late brewer at Kiwitea, about six months ago in Pitt street. He was in the same old dress, but I did not speak, to him. "We had a New, Zealand man over here four years ago, a surveyor and O.E. He fell nght into the hands of the Government, was sent to Noumea, sent in a splendid report, satisfied, the Government, and now gets £12*000 a year. Not bo bad for a New Zealand man. % saw C, formerly a storekeeper in FeUding, but as I was busy, I did cot |peak to him."