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Boom Must Benefit The Colony

THERE is every indication, as we go to press, of an increasing boom in the shares of the Fiji gold companies.

A number of people sound a cautious note; but their voices are quite over whelmed by the opinions of those who declare that this new goldfield in north ern Viti Levu is going to be proved enormously rich. The optimists insist that this is a “telluride” goldfield, which is of a character not known to the Aus tralian experts, but which is well known in western America, A further flutter has been caused by the action of a syndicate, comprising Messrs. William Borthwick (discoverer of the Tavua lode), P. and D. Costello, W. Lawler and Blair, in pegging an area of 2000 acres on the headwaters of the Waimanu River. This appears to be one of the tributaries of the Rewa and the area apparently is in the high country towards the centre of Viti Levu, and southwards of the Tavua field. It is re ported that the Aloha Syndicate, whose shares have gone to extraordinary values in Australia lately, is connected with the new area referred to.

It is difficult to keep track of all these Fiji companies and their jumping shares: and we certainly do not envy the Govern ment of Fiji, which has undertaken the task of separating the sheep from the goats, with a view to discovering wild cats!

It is reported in Melbourne that the interest of speculators in Fiji gold is so keen that a cloud of depression has fallen upon West Australian gold shares, which previously held the market.

We imagine that it is going to turn out badly for someone—probably for over optimistic speculators —but the boom cer tainly will benefit Fiji. Hundreds of people are rushing off to the Colony; and, even if they do not find the gold they expect, the money they spend in Suva and thereabouts will not do anyone any harm.