A Complete Exposure.
(Par Press Associaton). Sydney, July 27. The Sydney Telegraph, in conjunction with the Melbourne Age and the Adelaide Advertiser, is publishing a series of articles from a mining expert who has been specially commissioned to visit and report on the Westralian goldfields. His conclusions in regard to Coolgardie are gloomy. He says :— " I fear the future fortunes of Coolgardie do not rest with the gold output of the mines. During the boom some 200 companies with a share capital of were floated. During the two years which have since elapsed, £2,200,000 has been spent in wages and machinery in prospecting and developing these mines, with the amazing result that 98 per cent of them have proved white elephants." Incompetent management s killing Coolgardie as well as other Westralian goldtields. Companies scattered throughout the fie Id a are managed by Englishmen, assisted by costly staffs, whose only occupation appears to be reading novels and drinking whiskey and champagne.
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Bibliographic details
Feilding Star, Volume XVIII, Issue 25, 29 July 1896, Page 2
Word Count
160A Complete Exposure. Feilding Star, Volume XVIII, Issue 25, 29 July 1896, Page 2
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