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|
|2,500 shares at £20 (amount called up £18)||£50,000|
In Crombie, a fellow passenger in the “Albion”, shewed us round in the absence of the “Warden”, to whom I had letters.