The Intest report (1891) of the little kuown—to Europeans—Muho gold mines in the Chinese portion of the Amur regions has recently been issued by the manager, Mr, Yuan a-hus, an official depute: for the purpose by the Ti Viewrvy. This report is the third that has been issued since the formation of the company, under the auspices of Li Mung-chang, to work the mines in question, about six years ago, From the report it would seem that the mines are bth alluvial and "rock," gold from Une last wamed being obtained by mowns of machinery procured from the United States, transported at infinite cost and difficulty overland by way of Shingking. The total output for the year under review, 1891, was 20,595, odd, taela weight of gold; but owing to the gold obtained from the "Chuen" mine being of & poorer quality and colour, only the sum of Tls, 281,660, odd, was revised at the sales, Added to this amount is the sum of Ils. 62,160, odd, realised from the sale of subsidiary ore and other minerals, and we have a total net receipt of Ti 843,820 odd for 1891. After deducting sixty per cent. of the gold sales, contract pay to the miners, and dividends on shares, as well as the expenses of the military force at the mines, there is still a balance of is, 80,190 to the gued. Again deducting ths. 30,190 for payment of insurance foes—used in Cransporti gold from the mines to place of sale— the military contribution troops in' the Heilungchiang or Amur region; is. 10,000, bonus to the staff'at the mines; and Tls. 26,000 bonus to share-thereby principally the his friends. AM this looks very prosperous and inviting. to would-be purchasers of gold shares; but according to the report, the company at the outset of the enterprise, gat debt, preferring to borrow from the government instead of making further calls on the shareholders who still owed about Tis, 30 out of the Tls. 5+ per share they subscribed for. The remarkable progress of the mines has now entirely obyinted the paying up of the balance on each share, us the manager, after paying back the creditors, has credited the excess against the remaining calls on the shares instead wot paying it as dividends to the shareholders, who, by the way, have ao far sou no return on their money invested_in the concern, but who have the satisfaction of knowing that the shares for which they have only paid a first call of Tls. 20 are now worth Tls. 50 each, fully paid-up. The manager promises in the future to pay the shareholders the dividends they shall be entitled to, as the company not new owe any debts, although, if our memory fail us not, we remember that these were exactly the same promises that were mad yin 1890 in a simular report for that year, Reports made by independent observers who visited these mines three years ayo, indicate that they are the richest mines that China, so far, is known to possess, Our readers may perhaps remember reading some account: ut these regions, how they: were peopled and celonised by' band of escaped Russian ts ahd desperate characters who under laws of their own flourished well and took wut of the country: immense quantities of geld, and how ever tually they were driven out by Chinese troops sent for the purpose, The mines are seemingly exhaustless, notwithstanding the "first picks" made by the Russians, nw Jess than over a quarter of x million trols weight of gold having been extracted within the last four years, and still there are rich places not yet explored, which the report under review states are expected to be even richer than these that have been exploited during the past six years."
Text read from the printed page and cleaned; old type leaves the occasional error.