RICH GOLD YIELDS

Hokitika Guardian, 18 May 1933, Page 2

RICH GOLD YIELDS

ON THE OLD BENDIGO FIELD

BRIGHT OUTLOOK STILL

SYDNEY, May 15

A report from Bendigo, in Victoria,, that another excellent gold find was made there the' other day directs attention to Bendigo’s famous mines of tlie past. Since July 9 last year, the Hercules mines, from which the latest' hig yield lias been secured, lias produced more than 12,0C00x. of gold from' 6018 tons of «ro crushed, and, aided by the high price of gold, has paid almost £70,000 in dividends. But in days when gold was less precious in terms of sterling, but none the less sought after, mines on various main reefs of the Bendigo field were staggering the world and enriching the shareholders with the gold that poured from their batteries.

Before 1870 many mines gave tremendous yields, but their records have not always been preserved, while others were privately owned and their returns were never disclosed. There was, for instance, one of the "Watson’s mines. This is known to have yielded more than £500,000 to the owner. In eight months, in 1871-72, the Great Extended Hustlers Tribute Company took out 48,0000 z. of gold and paid £183,400- in dividends, Tlie same mine was worked by another icompany Vitar, and from' 1870 to 1886 gained 137,5970/,. and paid £363,600 in dividends. In eight months, in 1873-74, the three Garden Gully Tribute Companies had amazing yields. The- No. 1 company paid £30,000 in dividends, No. 2 paid £70,030, and No. 3 paid out £50,000. All worked the same mine.

The success of the tribute companies was a prelude to the success of their parent company. The tribute? expired in 1874 and in the twelve years that followed the United Company paid dividends which totalled £616,000. The Garden Gully Company had several other successful periods later, In three years, 1883-85, the United Devonshire mine paid oqt to its shareholders £199,C00. Other outstanding recent rejcords have been:— • New Red, White and Blue, in seven j ! years, £l2fi}oOO; South New Moon, |in 11 years, £449,000; Central Red, j White and Blue, in five years, £148,0«H n | say that there is no reason ' why sonie of the Bendigo mines that have been famous in the past should

not go on ' producing gold. 'Some of the existing mines, they say, may even surpass the record of earlieft* companies. The great yields of the past, they say, really augur well for the future. There is great optimism at Ben,djgo.