Hannan’s Star, Boulder Main Reef, and Chaffer’s are the mines adjacent to the one I next stopped at—the Golden Horseshoe. Here I interviewed Mr. Sutherland, the manager, at the office, who sent for the underground boss (as he is termed), Mr. Morgan, to show me over the mine. To give an idea of the wealth of this famous mine I must tell you that, when shares were £8 each, such magnificent finds of gold were made that they went up in value to £51! On going below, Mr. Morgan courteously showed me all over the golden mine which has proved so profitable. He also showed me some of the most magnificent gold, and specimens I have ever seen. These were some of those that were found when the shares went up to the tremendous price before mentioned. Sometimes the gold is found in solid pieces; when mixed with quartz, the pieces are called “specimens.” We went down to the 200-foot level, and saw the wonderful place where the finds ran for weeks at a rate of 80 ounces and 90 ounces to the ton; 2000 ounces, valued at £8000, were won in a few days. This was oxidised ore, and at the same level is still abundant, but not quite so rich as the above quotations. We then proceeded to the 400-foot level, where more rich ore and wonderful workings were seen. Then along a drive down another shaft to the 700-foot level, through stopes and cross-cuts, picking out more specimens until I was fairly bewildered. Coming up we stopped at the 400-foot level, where the rich sulpho-telluride ore showed free gold quite plainly. Mr. C. D. Rose, the chairman of this mine, estimates that the monthly production from oxidised ores alone will reach 14,000 ounces, and will be maintained at that. This estimation has been more than reached, one month’s production of the mine since that time having been 15,280 ounces of gold.
The Ivanhoe Mine
When the mine’s great richness was first becoming apparent, a very jovial meeting of the shareholders was held. The shares had then made a big jump to £17. Previous to the time when the shares in the Golden Horseshoe were £7 10s. a strong “bear” attack was made on them. (A “bear,” in mining parlance, is a speculator who sells stock he does not possess, with the idea of being able to purchase at a cheaper price later on.) The mine was at that time “jumped” on account of some legal technicality; but, instead of this producing the desired effect of a fall in prices, the shares shortly afterwards rose, and the “jumpers” made a hasty retreat, sadder but wiser men. A director of this mine told me of the time, not very long past, when he advised his friends to buy shares up to as he had himself done. Some of them acted on his advice, but shortly afterwards the shares went down to £2 10s. He was then overwhelmed with inquiries as to what was the matter. After making a strict examination of the Golden Horseshoe properties, and seeing the large bodies of valuable ore below, this gentleman’s advice was to stick to the shares. Shortly afterwards they rose to £5 and £6, and now, as I before said, they have been as high as £51 per share, and up to 19 ounces of gold to the ton of ore has been got. This speaks for itself, and no doubt it is one of the best mines in the world. I was told a story about this mine, which at first I thought too incredible to be taken seriously, but which I am assured is a fact. It is stated that an old lady recently entered a London broker’s office and produced the certificates for various shares which she said she wanted to dispose of, saying she would take £5 for the lot. The broker found most of them to be shares of a valueless kind, but one represented 500 Golden Horseshoes, which he sent into the market and sold at £40 each, so that the old lady, instead of getting £5 for her entire collection, was credited with £20,000 for one slip of paper alone!
I made my next move onwards along a narrow road between two hills. On one side is the Ivanhoe, and on the other that marvellous mine the Great Boulder. This is the second on the list as champion gold-producer, having produced over 449,726 ounces. If each ounce of gold were to be coined into four sovereigns, these ounces would represent over a million and a half of money, of which £910,000 has been distributed in dividends. Mr. George Inglis, well-known in England and on the Continent, was one of the foundation members of the board of the Great Boulder Mine, and was instrumental in finding some of the working capital of the company, and has been deeply interested in it ever since its inception. The offices of this great mine are close to it. I had to wait some little time before seeing any one who would conduct me round, everybody seeming to be up to their eyes in business. I accordingly mounted a hill to the open door of a large building, which I found to be the amalgamators’ room. Here was a feast of gold in bars, in ingots, in oval shape. It had just been brought from the smelting-room, and the police escort was waiting to take it into the bank at Kalgoorlie. I was fortunate in arriving at the time I did. I had seen gold before, but never to this extent in its newly smelted state; it was a revelation.
The manager, Mr. Hamilton, was very courteous to me, and on my telling him I wished to go underground at once acceded to my request. It was hardly necessary to show him the letter I carried with me from the Minister of Mines, Perth, asking all managers to extend their courtesy and help to me in my travels on the goldfields. On arrival at the shaft, a crowd of men had just come up, and another crowd were waiting to go below; they were changing “shift,” which is the term used to denote their working time of eight hours. During the week the mines never stop working, consequently relays of men are required. In these shifts their hours of labour are changed at certain times, and so the men are sometimes on what is termed day shift or night shift.
Mr. Zebina Lane