FORTUNE FAVORS THE BRAVE.

Westport Times, Volume VII, Issue 1092, 25 July 1873, Page 3

FORTUNE FAVORS THE BRAVE.

[bendigo advertiser]

The Old Chum, from his grand height, looks like a king of mining claims: the thousands of tons of " cold grey stones," lying in immense piles around him, tell of human effort and perseverance in times gone by, as well as present. For fifteen years or more, the mine was worked without profit, and sometimes with small hope of profit. In the year 1854, a man Grunther, with a party, formed the Pioneer Company to work the ground, and spent a large sum of money on, or rather in it. These people got into difficulties, and after some time—in July, 1859—the claim and the whim, and, in fact, everything belonging to it, was knocked down to a plucky bidder for £l5O. Then the Phoßnix Company arose from the ashes of the Pioneer, and collapsed even more quickly, when it fell into the hands of the present Old Chum Company, which, however, was not registered until June, 1871. The Old Company, at 525 feet, struck the Old Chum Reef, and a continuous run of good fortune seems to have followed them them ever since. They have declared upwards of £45,000 in dividends since that time; and have had nearly 18,000 ounces of gold from their reef, or, in other words, they have had in money value £52,000 for £l5O, with the almost certain prospect of as large, if not larger returns.