MINING ENTERPRISE.

Te Aroha News, Volume VI, Issue 358, 10 April 1889, Page 7

MINING ENTERPRISE.

During 1888 the number of minins companies registered in London was greater than in fin)' previous year. The total wjss 365, or one a day, with a nominal capital of £52,663,000. In 1878 the number of companies legisteied was 93, with a capital of £5,223,000. In 1887, that is, nine years later, it had risen to 269, with a nominal capital of £3-1,002,041. The geographical distribution of the propeities of these 365 companies, and the amount of share capital invested in operations in the respective countries, are as follows : — For working mines in Europe, there were formed 45 companies, with a capital of £6,559,070, as against 23 companies and n. capital of £1,739,000 in 1887. In Asia, 14 mines, capital £1,785,000, as against 9 mines and a capital of £1,562,511 for the previous year ; Afiica, 73 mines, capital £10.533,205, as against 42 mines, capital £4,700,500 in 1887 ; North America, 84 mines, capital £16,531,000, as against 67 mines, capital £12,298,830, in 1887 ; South America, 30 mines, capital, £6,308,600, as against 13 mines, capital £2,660,000 ; Australia and New Zealand, 39 mines, capital £4,563,200, as against 52 mines, and a capital of £7,503,000 in the year before, which was the period of the great boom in Australasian mines ; Great Britain, 79 mines, with a capital of £5,836,325, against 63 mines, with a capital of £3,476,200. This number, 365, includes all reconstructions and consolidations of previously existing companies, which have been rather numerous in 1888. Out of the thie* hundred and sixty-five companies onl}* a portion have appealed, by the issue of prospectuses and advertisements, to the public for subscriptions, and these compare thus with the preceding year: In 1881, 101 new mining companies, having a nominal capital of £14.272,000 invited the public to subscribe for, £7,805,426, paid the vendors for the respective properties 75 per cent, of the nominal capital, -mc] left for working cost, purchase of machinery, etc., 25 per cent. In 1887, 89 companies, with a nominal capital of £16,000,000 invited subscriptions publicly for £9,218,200, the vendors taking 74 per cent., and leaving for working expenses 26 per cent. The number of companies formed to work gold mines was 159 in 1888 and 124 in 1887 ; to work silver m'nes, 30 in 1888 and 24 in 1887.