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Nelson Evening Mail, Volume XV, Issue 222, 10 November 1880, Page 4

Referring to recent mining speculation, tbe Melbourne Argus says : — "Just now there is a cry of woe at Ballarat, beause of tboVhole or partial collapse of a nomber of companies, in which it is found very difficult or impossible to collect calls. Jn mining

parlancp, the jig'is up. 'Iho reapers reaped, and the sun fell/ and all the land is dark. There have been Hurdsfields to the right of them, Hurdefields io tbe left of tbem, Hursfields in front, and Hurdsfields behind; Head Hurdsfieldß, Superb Hurdsfields, and Hurdsfields of wbich could be predicted neither head nor tail. Besides ' tbe Hurdsfiald group '—which was not a group ot all, but a swarm — there were, or are for that matter, wonderful companies on old ground, where, if there were not washes, there were lodes, or both— or maybe neither. Plans have been flying about oo whicb, in gorgeous colors, all tha wonder* of the claims have been displayed, and the whole town is parcelled into blocks, which are to give great results some day. But, in Ihe meantime, there has been a sort of epidemic of calls, which has frightened a large number of persons, who have, in torn, called upon the directcrs to hold their hands, and consider the public just a little. In some, cases this has been done, and the olaims rnmain unworked pending better times, but the original money for promoters' shares has disappeared, and bas helped to benefit those who did the promoting husioesa- It must not be thought, however, tint the promoters solely are to blame, even where the claims have proved to be worthless or even difficult to find, for the virtuous public have bought shares merely to sell again, and it has after all been a case of the devil take the hindmost. Obviously, such a state of affairs can but end in a collapsp, wbich is the present result so far as merely speculitive projects are concerned."