MINING IN VICTORIA

Globe, Volume VIII, Issue 924, 11 June 1877, Page 3

MINING IN VICTORIA

The chairman of the Melbourne Chamber of Commerce, in his address at a recent meeting of the Chamber, made the following reference to the mining interests of the colony ; —“Judging from the published accounts, this interest lias not been in a very flourishing state during the past year, and according to Mr Hayter’s “ Year-Book” there was a decrease in the estimated value of gold raised in Victoria in 1875 of £240,740, and in the number of miners 3434, as compared with the previous year; and it is stated that there has been a falling off in both respects during the year 1876. The importance, however, of this interest will be better understood when it is mentioned that the approximate dividends for the year ending 31st March, 1877, are estimated at £592,000, and although this shows a considerable falling off as compared with the previous year, it is yet sufficiently large to justify greater attention being paid to mining than it has of late received. Nor must it be lost sight of that if the dividends have declined, so have the calls, the latter arising from the fact that the amount of progressive work going on has greatly diminished —a fact not altogether encouraging for the future. On the other hand, however, it is satisfactory to note that the returns from the Ballarat district seem on the increase; nor must the deep sinking at present going on be overlooked. In Sandhurst alone, lam informed, there are now about twenty mines, the shafts of which are sunk from 700 ft to 900 ft, and five or six which exceed 1000 ft, whilst at Pleasant Creek there are three varying from about 1500 ft to 1900 f t; and at Chines, Maldon, and Blackwood deep sinking has been steadily pursued, and although in only a few of them has payable gold as yet been found, yet it is sincerely to be hoped that success will eventually crown the enterprise of those who for so many years, and at so much cost and trouble, have persevered in their endeavors to find payable gold at such great depths.”