BENDIGO REEFS, VICTORIA.

Tuapeka Times, Volume V, Issue 263, 13 February 1873, Page 7

BENDIGO REEFS, VICTORIA.

There were 67 dividend-paying companies for tbe year 1872 ; whereas, iq, 1871, we bad only 35. Several -of tbe progressive companies are on* the eve of becoming dividend-paying; so that the number will be largely increased for 1873. * , - Within the Sandhurst mining division, 'wherein nearly all |he reported gold is got, there are 20 engines, (298horse power) engaged in alluvial mining, and 189 engines, with 3,480-horse power engaged in connection with quartz. Total value of mining plant, £438,000. The, total number of miners, 6,8G5. The average yield — not yet ascertained — may be taken at 16 dwt., but as the quartz crushed in tbe last quarter has been of a much better quality the yield may be higher ; however, tbe 16 dwts. will be sufficiently near the mark for the following computation :—: — The amount of gold returns for , the year is 335, 7470za, Taking this, say, at £4 per oz, ... £1,418,988 Of quarts there has beou ; -433,433 tons crushed j average expense (including alluvial) for • crushing, wear and tear of machinery, tools, and materials, say, 4s. per ton £88,686 Wages Fund, assuming that the whole 6,865 are employed at 45a. per week, which is { contrary to the fact, as many are unemployed and a large number working by contract Jess than cur- " j rent wages ... £803,192 £891,878 Under-estimated approximate ! yearly profit . ... £527,110 As the dividends actually declared are £680,369 We have 22 square miles of country intersected with reefs at ! work. We have 318 distinct quartz reefs, proved to be auriferous, consisting of six great belts, running from south to north by west Two of tbe main lines proved to be payable for a distance of eight miles. Subsidary to the main lines are congeries of reefs, indeed it may be said that the whole district is reticulated more or less with a variety of reefs, which must be discovered, and will be in time. — "Bendigo Advertiser."