Treasure Hunt Fails.

Kaipara and Waitemata Echo, 21 August 1914, Page 2

Treasure Hunt Fails.

MUD INSTEAD OF £1,120,000,000

The exploitation of treasure trove (says the "Daily Chronicle") is seldom successful, though the lure of such undertakings is a constant temptation to the speculator, and the adventurer. Another addition to list of failures had nowi to be made in the winding up 6f the company, formed 13 years ago, to raid the sacred lake of Guatavita., in Columbia. The reputation of this lake as a depository of jewels and ornaments of vast wealth has persisted for centuries, and has been frequently referred to by travellers, from Father Simon to Humboldt and Mowbray Morris. The lake te situated in the mountains, about half a. day's journey on horseback from Bogota, and lies about 10,000 ft. above sea level. The origin of its reputed vast wealth is the practice attributed to the ancient Indian tribes residing in the locality of casting vessels and ornaments of precious metals, and also offerings of gold dust and precious stones, into the waters as a religious rite. A companion—obviously more or less guesswork—of the value of the treasure at the bottom of the lake, made in the early part of the nineteenth century, put it at £1,120,000,000. Various attempts have been undertaken from time to time to recover this supposed wealth, and the Spaniards are said to have lowered the waters }to within 14ft. of the bottom, j-when the sides fell in and brought their labour to nought. The modern effort to retrieve the treasure

was commenced by a native company in Colombia about 20 years ago, but progress was slow on account of the lack of proper plant and the absence of direction by a scientific engineer. After spending £1500 the native company invited the co-operation of more expert assistance, and the "English company which is now being- wound up was the result. This concern, which possesses the very unromantic name of Contractors, was registered in 19uO with a capital of £80,000, and took over the work of the native concern. it was arranged that if the treasure were found the capital tho latter had expended and the capital to be laid out by the new undertaking should first be repaid, and that then the profits remaining should go as to 59 per cent, to the English company, and as the 41 per cent, to the Colombian company. The lake is, or was, 45ft. deep at the lowest point, and the plan of the engineers was to drain it by means of a tunnel through the mountains 1100 ft. long, and carried down 70ft. below the level of the surface of the water. The cost was estimated at £0,000. The drainage scheme was successfully accomplished in the end, but, instead of a clear bottom, the exploiters came on 25ft. of

mud. Their work took much longer than was expected, and the lake was nut emptied till 19<)M, and then kept partially refilling through heavy rains and springs. Meanwhile, a few ornaments and jewels had been found which sutlieed to whet the appetite of the seekers. But by this time all the available cash capital of

£6000 had been spent, and more money was wanted. The capital of Contractors was accordingly increased from •£:•{(.),00U to £,:*;">.uoO in 1904, and still further to L.40,000 in 1908. When the rains had ceased and the

springs had dried up fresh dilliculties arose, for the mud set hard and

the water to sluice it away through the tunnel that had drained the lake was no longer available. An attempt was made to carry the tunnel from the edge of the lake to the centre, the idea being that the mud

would more, expeditiously be got

away from 'that point, but there was never enough money available to finish this project. In default of the completion of the prolongation of the tunnel shafts Wore sunk in the dried mud, and channels driven through it at various spots, and more small ornaments and precious stones came to light, but altogether the value of these discoveries was not much more than -C"2,000. These modest operations have filled up the

last few years, and no signs of the vast, treasure reported to repose in Guatavita having been found, the

company, after an outlay of some

ill ~>,ooo, has finally decided to abandon the hunt.