£150 Became £13,000,000.

Manawatu Herald, 22 July 1899, Page 2

£150 Became £13,000,000.

t A romance of the goldfields was involved in the history of a little syndicate which was recently wound up in a Adelaide. On June i, 1893, tfie Cool- * gardie Gold Mining and Prospecting; I Company was formed, with a capital of ten contributing shares of £15 each, equal to £150, and five fnlly paid up shares. The company was formed to send Mr S. W. Pearce and Mr G. Ws Brookman to prospect on the Cool- "w gardie Goldfield. The prospectors reached Coolgardie on June 29, 1893, and, after refusing a claim there they pushed on to Hannan's, now known as Kalgurli, where they took up 330 acres. From that small beginning has resulted the possession of eight rich mines," the pre^jk sent value of which is as follows : — GVeat Boulder, £1,662,500; Lake View Consols, £"2,812,500 ; Associated Mines, £2,475,000; Ivanhoe, £1,875,---000; Kalgurli Mint,. £100,000 ; Lake View South, £220,000; Lake View Extended, £65,750 ; Great Boulder No. 1, £65.000 ; grand total, £9,275,759. The amount distributed among Adelaide shareholders in shares was £3,---421,000, and the amount distributed in dividends, approximately was £950,---000, making a grand total of £13,646,---750. These companies have turned out approximately, 560,000 ozs., which may be valued at £2,250,000.