THE ROADHOUSE HISTORY FILES: Diggers & Dealers attracts all types to Kalgoorlie for the week of the Forum, many of which are involved in the buying and selling of shares of the companies present.
It would seem, from the early pages of the town’s newspaper that speculation of the involvement of shareholders in the fortunes of local companies was on the minds of industry watchers back then.
Kalgoorlie Miner: September 14 1895
The sudden rise in Lake View shares which have quickly jumped from 22s (shillings) to £2 should serve as a warning to anyone tempted to “bear” the stocks of the district.
The rise was occasioned by the arrival of heavy buying orders from London, and it is quite on the cards that some of the little Australian firms, which for years have successfully rigged the Colonial scrip markets, will find themselves badly left by a similar influx of English buying orders.
The attention the Kalgoorlie mines are now receiving in the Old Country is hardly credited even by many local men, who appear to think the market can be as easily rigged now as in the good old days when all stocks were held in the colonies.
This is not the case and at present there is every appearance of a London boom in Hannans stocks, which will result in the market being ruled from the great moneyed centre of the world.
Already Australia’ s boldest specker, who went to London with the avowed intention of knocking out Boulder shares is returning a poorer if not a wiser man.
If the great British public commence to invest in our shares no feeble attempt of Colonial “bears ” will be of avail to check the rise in the market which will boom in spite of them.
There is no reason why Lake Views should have been so long neglected on their price so low.
Although not a sensational property it is a sterling mine which will continue to pay dividends for many years to come.
The rise is perfectly justified and is but the forerunner of many equally startling, which will take place within the next few months.
From now to the end of November is the most active period of the London Mining Market, and there is little doubt the next few months have many surprises in store for Kalgoorlie.