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The Diary of James Brogden, August 1871 – December 1872

18 November 1872

18 November 1872

Next day to Ballarat by train. The Railways have been very expensively constructed, some portions costing as much as £32,000 per mile. We went to the Black Hill Mine, which was the first alluvial digging, and is now being worked on a produce of 2 dwts. gold per ton of washings (or “mullock”). We afterwards visited the Band and Albion Consols, where we saw the operation of Gold melting. I went down the shaft and thro’ the workings. The machinery was very good. Next to Winter’s Freehold which is well found in first-class machinery:- but as yet has not earned any dividends. The North Clunes Mine page 108 at first lost money; - thus it began with

10,000 Shares at £10-£100,000
400 preference do £50-£20,000= £120,000
In 1863 it was sold – the new Purchase being
2,500 shares at £20 (amount called up £18)£50,000
Since July /68 the new Shares have been purchased for £121 each, and are worth £85 per share today.

In Crombie, a fellow passenger in the “Albion”, shewed us round in the absence of the “Warden”, to whom I had letters.