THE COMING BOOM. – British Investors Advised to Turn Their Attention to British Columbia.
London Mining World: It is the general opinion that when the holidays are over, and when everybody has once more settled down to serious business, we shall witness a boom in British Columbia mines. This may or may not come to pass at the time predicted, but if prophecy proves false in this, it will only be a postponement of the boom. It is bound to come sooner or later, for it is impossible that a country so exceedingly rich, with such magnificent potentialities, and so greatly favored, should not attract the prudent capitalist. Of course, South Africa, Western Australia and New Zealand are claiming most of his attention, but it need not be entirely absorbed by those gold fields when others of wonderful promise are awaiting his capital and enterprise. Everybody is now fully convinced that British Columbia is a marvelously rich gold field, and that it will not pay longer to neglect it. Investors and speculators have been a long time awakening to this fact, but now it has taken serious hold of them, and their belief, by this gradual enlightenment, has become, perhaps, all the stronger. * * *
The present belief in the colony is in strong contrast with the ignorance and apathy of the past. Less than five years ago it was difficult to persuade anyone to look at anything connected with British Columbia. Now all are eager – and will presently be more eager – to hear all they can about the colony’s progress and achievements. Americans are noted for their shrewdness, and they have certainly displayed it in British Columbia. They soon found out what a rich field it was, what rare advantages it possessed and to how great an extent it would repay prudent enterprise. Accordingly most of the flourishing mines are capitalized by them, and their money has been returned to them with treble and quadruple interest. But though much of the cream has been skinned by the Yankees, there is plenty left for the English if they will only hurry up and try and make up for what they have missed in the past. To instance one or two prosperous concerns, the Le Roi pays about $25,000 per month in dividends, whilst already the War Eagle has distributed about $200,000. AS proof of the extraordinary progress made in a short time, in 1894 practically no ore was shipped out of the Trail Creek district. Last year, however, there were taken out of those mines 21,000 tons of ore, and it is computed that the output for the current year will be from 100,000 to 125,000 tons, and this is based on the four large producing mines – Le Roi, War Eagle, Josie and Centre Star. Each of these properties is being rapidly equipped with machinery, in order to greatly augment their future outputs. Rossland, which is one of the richest districts in the colony, has made wonderful progress in the space of twelve months. This is due chiefly to its great mines, above mentioned. In the space of a few months about 126 square miles of mining lands have been staked off at and around this district, thus swelling greatly the government’s revenue. Then there is Cariboo, another district containing some very rich and promising mines. Already $60,000,000 in gold has been taken out of this district, and the output in the future bids fair to be much greater. Here quartz mining is only in its infancy, hydraulic and drifting being the principal methods in vogue. Nevertheless, there is a promising outlook for quartz mining, when sufficient capital is forthcoming to take it thoroughly in hand.
During the week most satisfactory news has been received by the directors of the Hall Mines (Limited), a concern to which we have had much reason of late to draw favorable attention. We now learn that in view of the satisfactory manner in which the present smelter is working, and the progress of development in the mine, the board has decided to erect a second smelter and refining works. This concern has already made such satisfactory progress that one cannot but anticipate a bright future for it.