Notk.—Besides
the above companies, the following were registered in 1880:— The Indian
Goldfield Co-operative Association, capital 1,200,000/., in 1,000
shares of 120/. each, and 90,000 shares of 12?.; Nilghery and South
Indian Gold Mining Syndicate, capital, 7,500/.; but I have not been
able to obtain any further particulars of them. A Company called the
Gold Company of Southern India is also very early in the field. Its
prospectus stated that it started " unfettered with any contracts,"
but proposed to use the 100,000/. it asked for to find and purchase a
suitable estate. In the second prospectus the company announced its
intention of buying the Lakadio and Matudella estates for 45,000/.
Shortly after this the company was voluntarily wound up, and the
South-East Wynaad Gold Mining Company now owns these two properties,
for which it paid 65,000'. This makes a total of thirty-two South
Indian Gold Mining Companies registered in London since December 1st.
1879—say sixteen months.
Taking
out of the calculation all Companies which are known to have been
withdrawn, or which have not yet been publicly offered, the figures
come out thus:—Sixteen Wynaad Mines: capital 1,890,000/., of which the
vendors take 1,121,500/. (and half profits on Carta Para), leaving a
total working capital of 768,500/. The total acreage is 22,388 acres,
so that the price paid to the vendors averages 50/. Is. per acre. Seven
Mysore mines; capital 750,000/. of which the vendors take 415,000/.,
leaving a total working capital of 330,000t. The total acreage is 2,930 acres, so that the price paid to the vendors averages 141l. 12s. 9d
But
the average price paid per acre is of course no guide to the value of a
mine, although many seem inclined to lay much stress upon it: and the
only reason for setting out the above calculation is to show why
separate tables have been made for the two districts in which the mines
are located. People are too apt to look upon these districts as merely
different parts of the same gold field, whereas they are 240 miles
apart, and must be developed under different conditions. The relative
price paid per acre in each gold field is cited to bring this
difference home to all interested.—Overland Mail.
INDIAN GOLD FIELDS.
{From Mr. Brough Smyth's Official Report.)
Features cf the country in the southern parts of the Xambuhihod and Munanad Amshoms.—The
chief physical feature in that portion of South-East Wynaad, which has
been examined, is the dividing range extending from Hadiahbetta on the
south-west to Marpanmadi North Peak on the north-east. This range
separates the waters of the Pandi river from those flowing to an
affluent of the Noogoo river, and for a portion of its length forms the
boundary between the Nambulukod and Munanad Amshoms.
The
ridge from the edge of the Carcoor ghat to a rocky eminence near Needle
Rock is covered with thick jungle. The lower slopes have been cleared
and are now planted with coffee.
The
culminating points of this part of the range are Hadiahbetta about
4,000 feet, Needle Rock 4,600 feet, and Marpanmadi North Peak 4,650
feet." The lowest " saddle " in that part of the range near Devala is
approximately 300 feet below the general level of the summit.
On
the east and west side of the range there are lower ranges—the
boundaries of distinct small drainage areas—but they are not
continuous, well-defined even ridges'; they consist of rounded hills
having smooth contours and connected with each other by low saddles,
thus reminding one rather of those areas in which granitoid rocks
prevail than of those in which, in other auriferous regions, the even
symmetrical, almost rectangular, ranges of the lower Silurian rocks
offer so many facilities for sketching the country with accuracy and
com-nrehendinp rapidlv its svstems of drainage.
