others floated in its vicinity. Alluring prospectuses are drawn up, and neat plans are published, showing on paper that the reef runs directly through the property offered to the public. The Great Boulder line was caricatured, in the Sydney Bulletin, as an octopus. An amusing story is current in Western Australia, which shows what the residents there thought of the way in which the British public were, in their opinion, "got at" by the mining company promoter and his London confederates. A very rich patch or "blow" of quartz was found by a prospector near the surface. Off went a promoter who had obtained a share to London to float a company, taking the quartz with him, which was thickly studded with gold. The shares were eagerly subscribed for, and a board of directors appointed, which sent out orders to work the mine at once, and get out a crushing. Months elapsed, and there was no return from the rich property; and then a peremptory telegram was despatched: "Crush at once and wire result; surprised at unexplained delay." This elicited a prompt response at once as follows: "Cannot crush till you send back the reef." The only quartz which the mine yielded was that which had been taken to London to float the company.
The story is a parable: but it must be remembered, in fairness to the colonial vendor, that "wild-cat" properties are usually handled and floated in the City by shady professional promoters, who for the most part are looking for wild-cats, and whose misdeeds are not to be visited on the colony. And, moreover, the ignorance, or impatience, of London Boards of Directors who do not know the difference between a developed mine and a prospecting shew; who sometimes, apparently, suppose themselves to be buying the one at the price of the other; and who often allow their English consulting engineers, quite un-
