Goldfields

A Wizord of the Goldfields F. W. Cuthbert: The Man Who Could "Smell Gold"

FROM North Queensland comes the news that Fred. W. Cuthbert. 83 years of age and famous for his successful mining ventures in Misima (Eastern Papua) and Croydon (Queens land) is active again, sinking shafts in an abandoned claim near Georgetown.

When F. W. Cuthbert “struck it rich’’ on his Bonanza claim in Queensland, in 1887, he earned the title of King of Croydon. The miners maintained that he could smell gold! He and his partner cleared over £400.000 before the field panned out. and over £200,000 was paid in dividends.

At Misima, where Cuthbert and G. O.

Wilkinson (his partner) acquired Misima Gold Mining Co.’s interests for a mere song in 1928, they sold out to Cuthbert’s Misima Gold Mining Co. for something like £lOO,OOO in cash and shares in 1935.

During the six years they operated there, the value of the output amounted to over £145,000. Their first year’s out put (1929 30) was valued at £6,584 and, increasing steadily each year, it mounted to over £37,000 for the year ending April. 1935. The report for 1935 showed that the year’s net profit, after allowing for depreciation and bonuses, amounted to £17.000 —£12.000 of which was distributed in dividends.

Fred. W. Cuthbert has had a remark able career. In his early youth in Lon don, when news reached England of the phenomenally rich gold finds at Bendigo (Victoria), he experienced a dream in which he figured as the discoverer of a rich gold mine. He saw himself scoop ing up gold, silver and other precious metals in bags, in a desolate spot where

the sandy gravel surface was relieved only by low. scanty bushes.

Fired by the desire to try his luck, he disregarded his parents’ wishes and signed as second steward on a sailing vessel plying round the Cape, at 1/- a month. After a strenuous voyage of months, the ship reached Melbourne early in 1878. There young Cuthbert left the vessel and made for Echuca.

For a time, he worked in a timber mill; then he made his way to Grafton (N.S.W.) and later arrived in Queens land. Going north again, he reached Croydon, and began fossicking for gold on claims that showed little profit.

Later. Cuthbert entered into partner ship with a man named Shultz, who owned a small but bankrupt store serv ing the miners of the district. Soon, benefiting by his early training in Lon don (where his parents had a shop), he converted the store into a flourishing concern. After a while Shultz and Cuth bert quarrelled and dissolved partner ship, selling out for a profit of over £4OO.

With his share, Cuthbert now entered partnership in a mining claim with Jacob Bickerton. Again he did well and sold at a profit. Bickerton retired and with his proceeds acauired a successful busi ness in the Darling Downs.

Cuthbert was now in a sound finan cial position. In 1887, convinced that his

luck still held, he took over two aban doned claims, near Croydon, which had reverted to the Crown. He put down shafts nearby and to the astonishment of the district, opened up lodes which proved to be some of the richest in North Queensland.

When the field was worked out, Cuthbert visited England to see his parents. He found that they had died, but he got in touch with his sisters, one of whom returned with him to Austra lia. He then took seven years’ holiday from mining, and it was not until 1927 that he first became interested in Papua.

When the manager of Misima Gold Mining Co. (G. O. Wilkinson) ap proached him in Sydney to invest money in the reconstruction of the company at Misima, Cuthbert declined to interest himself in the venture. However, he later offered the buv the owners out for £2,000. with G. O. Wilkinson as his part ner. The offer was accepted immediately.

Cuthbert and Wilkinson concluded the transaction, the richest goldmine in Papua became theirs. —M.L.