AUSTRALIAN NEWS. Mining Boom in Australia.

Te Aroha News, Volume V, Issue 238, 21 January 1888, Page 4

AUSTRALIAN NEWS.

Mining Boom in Australia.

The mining wave ' (says the Sydney "Herald" <&tho 12th) which wo" prog: aosticated back as four> month's ago> ■And *vhich'<*v« pointed. to with Assurance in recent issa^s, has broken upon, the colonial I -stock exclw&Hges with full force during 1 tho j present «w*sk — silver scrips >uJn\ost as a onatter of bourse, being uppermost At the time.aliwled to the Broken Hill silver dis- j tricfc, proved to a -contain extent, .had..nofc*completely satisfied .the minds of j •ulti-a-sii^uine investors Aud speculators ; J but by degrees the scale of. confidence increased, , and .prices have \ slowJyJ&ut surely advanced. The chief, or I at.aJLdvonts a main, cause*ifor hesitation, ■ has-be«ti the question whether or not the true aad fabulously, rich argentiferous lode j •w.ould fee tapped in certain localities. Ac- ; cording to recent ■ telegraphic advices, it lutsbeeu tapped, and conseiguently quotations, AKhksh were creeping up, have made .aM\>alneosb unprecedented j.ump. Broken Hill^pr.pprietary shares, for instance, closed jyesterday at dt2lB. Taking a sbare list quotation haphazard, dated September 22nd Jtast, a few comparisons will -explain the position. On. that date the market prices of one .or twco silver, scraps .stood, proportionately Jto . yesterday sfigu rep, as follfivvs; — Central Broken Hills, ISs, 20s 6i1— 65, .7 ; Junctions, 35s 6d— G2s; Broken Hill .Broprie.ta?y, 188-218 ; Webbs (caU p.), 13s 6d— Xoailp, to.lBs 9d), 40&, 42s ; and so on. To j«liafc,fi£fcej)t the present boom will go, and lo>v loiig.it will la t, are two queries to Hrhich a, .great many persons .are applying Aheat&elves. .Oa the o«e band.) & 'section of jmd .investors hold to the isfiiUefiihat »'JDejitrals" .will eventually run «p tfco f2Qi .'.ahd thus nqcessarily fluctuate ether .valuations' accordingly- In .con£aaatiojn .pi thftt • belief, a private telogivwji .was .yeceked in Sidney, yesterday *a .leading mioing firm, ttie purport, of which was that to "harig QJi by the eyebrows" to Central silver stock .will be, a wise thing to do. At the jpreSenb .time several representative financiers. And stockbrokers frana .Sydney, witb.Qtbers from and elsewhere, meo upon the Barrier Field, charged, it is xttmauß&d, .with unlimited powvfits j)f . operation regard ito jpuraha«Q,.Biiie ) .Qr.in\eB.tment. ;