New Koh-i-noor Tribute Company


 * For other mining companies with the same or similar names see New Kohinoor Company.

The New Koh-i-noor Tribute Company was a gold mining company working in the New Kohinoor Company claim by tribute.

Location
The company's mine shaft was on the south-east corner of Errard Street and Sebastopol Street.

1873
The company was formed at a meeting at Fern’s Redan Club hotel in January 1873: "NEW KOH-I-NOOR TRIBUTE COMPANY. A general meeting of this company, (late the Burra-Burra) was held at Fern’s Redan Club hotel, on Tuesday night. Mr Fern was in the chair, and over 100 persons were present. The business was the formation of the tribute company, which was done, 100 shares being readily taken up. The rules of the company were read, adopted, and signed. The following elections took place :—Treasurer, Mr Daniel Fern; secretary, Mr T. O’Farrell; auditors, Messrs Dinneen and John M'Mahon; committee, Messrs C. M'Donnell, Wm. Savage, Jno. Galvin, Jas. Keys, and Richard Trembath."

The were some problems with the tributors being unhappy with actions of the company board in June 1873, as shown in this letter to the newspaper: "THE NEW KOH-I-NOOR TRIBUTE COMPANY. TO THE EDITOR OF THE COURIER, SIR,— As you are kind enough to interest your self in working men, allow me to state that there are sixteen of the tribute party who object to the extension of shares in the New Koh-i-Noor Tribute. Now, Sir, T. O'Farrell wants to put the claim into 24,000 scrip, after 100 poor working men paying LI each, and L450 in calls ; and the sixteen of us object to the registration of such claim, depriving us of five years labor. Sir, the tribute party appointed a board of management on the 25th of April last, which was to stand good for three months. They made a call of L1 10s, payable on the 11th of this month, which the minute book of the tributors will certify. Sir, we (the tribute party) object to any other calls bring made by another board. The tributors appeal to the hon. Minister of Mines, the Attorney-General, Legislative Assembly and Council, to show the public how the poor miners are imposed on. Your obedient servant. ONE OF THE TRIBUTORS."

In August 1873 the company manager wrote to the paper about their reports doubting the company's claims: "NEW KOH-I-NOOR TRIBUTE COMPANY. To the editor of the 'Courier: Sir, — In your mining report in this day's issue, it is stated 'that doubts have been expressed as to whether washdirt was struck in the bore put up by the company.' Allow me to set the question at rest by simply stating that the first bore (close to the face) went through the reef at about 30 feet, into apparently hard cement. A second bore, three sets of timber back, broke through at a similar height ; the bit (a very small one, only 2 inches wide) passed, and proved 2½ feet of a rough wash, and from the small bore a very fair prospect of gold was obtained, witnessed by nearly all the directors, who, I may state, are the heaviest shareholders. That the present blind shaft is close to, and will strike a continuation of the Golden Reef wash, from which such capital yields have been got, is beyond doubt from actual survey. Eager, expectant shareholders in all companies criticise most unmercifully most minute act of their directors, more especially when it clashes with their preconceived pet opinions. We can't please everybody. In conclusion, I must state that the directors devote a good deal of time to the interests of the company, and I venture to assert that the shareholders will eventually be amply reimbursed for their outlay. — I am, &c., T. O'Farrell. General Manager. 14th August."

Ordinary quarterly meeting, December 1873. The company was making a small profit: "NEW KOH-I-NOOR TRIBUTE COMPANY. The ordinary quarterly general meeting was held on Monday evening, at Fern’s Redan Club hotel; Mr J. H. Downing, in the chair. The directors reported that two calls of twopence each had been made and were well responded to; the total number of shares forfeited and sold for the two calls being only 140, realising 7d each, and 810, fetching 2d each, respectively. As specified in the terms of the tribute agreement with the New Koh-i-Noor Company, they have erected a fine additional plant, consisting of another 18-inch cylinder engine, a large boiler, and two new self-emptying puddling-machines, all of which will be completed ready for work in a fortnight from now. Driving was discontinued in the upper level after breaking through to the Golden Reef workings, but driving was continued in the intermediate level, which broke through into a very promising wash. The northern main drive, off the lower level, going towards the junction of the Golden Point and Milkmaid Leads, has been extended a total distance of 260 feet; a bore was put up on Monday last, which broke through at 20 feet into a grey wash four feet thick, out of which a very fair prospect of gold was got. This will prove a valuable addition to the already proved resources of the mine, as the end of the drive is not within 80 feet of the abovenamed junction, and which was the richest ground over worked on Ballarat. The distance of this bore from the other workings extends over an area of 500 feet, and from the intermediate level to the boundary over 300 feet. Washdirt from all the various mentioned parts of the mine can be raised immediately the new machinery is ready to receive it. The receipts for the quarter were £490 6s, and included—Capital, £392 2s 6d; gold, £31 7s 7d; sundry accounts, with a balance of £39 0s 5d, making up the total. The expenditure comprised — Wages, £74 19s 6d; contracts, £210 18s 2d; firewood, £56 4s 10d; salaries, £39; sawn timber, £12 6s 4d; miscellaneous items, and a debit balance from last quarter of £26 12s 11d, making a total of £490 6s. The assets amounted to £39 0s 5d. The general balance-sheet showed the total receipts to be £1075 15s 4d, of which £900 was subscribed capital. The expenditure equalled that amount, the principal items of which were—Contracts, £393 6s 7d; wages, £173 2s 2d; firewood, £112 15s 10d. The auditors reported the accounts to be correct. The reports and balance-sheets were received and adopted, the shareholders expressing themselves as being well pleased with the prospects of the mine. The following were re-elected directors-for the next quarter:—Messrs J. H. Downing, Daniel Fern, Richard Scott, G. J. M‘Donald, Philip Gay, James Lamb, and Alex. Clarke. Messrs Charles Wilson and W. P. Power were re-appointed auditors."

1874
Ordinary quarterly meeting, March 1874: "NEW KOH-I-NOOR TRIBUTE COMPANY. The quarterly meeting was held last night, at theRedan Club hotel; Mr J. H. Downing in the chair. The directors’report stated:—“ The new machinery, comprising another powerful engine and boiler, and two belt-emptying iron puddling-machines, with everything requisite, erected by the New Koh-i-Noor Company, as per agreement, has been completed, and handed over to the tributors. It all works satisfactorily, and is one of the very best plants in the district. The northern drive from the main lower level has been discontinued, as on breaking through the reef the ground was dipping too fast to admit of properly working to advantage. This portion of the mine is reserved for future operations. As you are aware, the rise from the intermediate level got through into washdirt, a drive from which broke through to the Golden Reef workings, on our boundary. Another drive opposite to the above was started recently, which proved payable ground, as 19 oz 3 dwt of gold were sluiced from one machine on Thursday, 25th inst., and 21 oz 10 dwt from another machine on Saturday last. The faces of the drives (three only) continue to look equally well. Some consequent necessary underground work will have to be done, which will occupy probably from four to five days to do, viz, turnouts at the plat, and the foot of the long-jump-up, for stowing empty trucks, &c., which, when completed, will enable us to raise a larger quantity of washdirt, and sluice daily. The calls made during the quarter have been fairly responded to, the receipts amounting to £473 12s 6d, and the expenditure to £394 6s. This is irrespective of the value of the gold obtained (40 oz 13 dwt), 80 per cent, of which will be placed to your credit. A stock of firewood, driving timber, laths, &c., must be obtained for winter consumption.” The reports and balance-sheets were adopted. Messrs Fern, Downing, Scott, A. Clark, Smith, Macdonald, and Wilson were elected directors, and Messrs Wilson and Power auditors. Some discussion took place as to the question of increasing the manager’s salary. A motion was proposed that it be increased to £4, and an amendment that it be increased to £5. Eventually, however, it was agreed that the matter be left in the hands of the directors."

Special General Meeting, May 1874. The company was reporting difficulties, and were unable to pay the miners, who had refused to work without payment. NEW KOH-I-NOOR TRIBUTE COMPANY. A special meeting was held at Fern’s Redan hotel, on Monday, 4th May; Mr Josiah Downing in the chair. There were about 20 shareholders present. The chairman stated the circumstances under which the meeting had been called, and, stated that the original company had retained £150 worth of gold, which did not belong to them, and the tribute were unable to pay the men’s wages. This had given rise to the present difficulty. The opinion of Mr Trench had been obtained on the matter and he had given his opinion that the gold was illegally detained, advised the tribute to send the men below the next morning, to retain all the gold obtained, and lodge it to the credit of the tribute in the bank. The men, however, had ceased work and refused to go below unless they were paid their wages. If the company gave up the gold the tribute would have been enabled to pay 14s in the pound to the contractors and workmen, leaving only about £250 due to tradesmen. It was therefore for the meeting to decide on the future working of the mine. The mining manager reported the condition of the works at the mine, and stated that in the intermediate level work had been continued to get air connection from end of blocking shaft from former south drive. Also continued a drive north, being 65 feel in front of blocked out area at about 13 feet lower level. The wash in this drive was black clay, lying between rock and reef, with an occasional small quartz stone in clay. Had the gold found in upper block traversed a south-western course this drive should have found it, but there were 65 feet between the two parts, leaving room for wash to exist. The rock was making a gradual fall towards the old main gutter. The wash in south drive had been alternate layers of grey sandy clay and black marl clay. He had examined all the drives carefully, but could not discover any run of gold, although a little must be through some of the ground, but so far the ground taken out had not been payable, and none of the ground driven through had given very promising prospects, and unless flat ledges are found or the existence of quartz leaders, the chances of getting gold were, but limited. He did not at present see that there was a possibility of being able to raise sufficient gold to pay working expenses from any ground driven through. The mining manager recom- mended that a drive be put in from top of 80-feet rise east about 150 feet, which would be crossing over top of several quartz leaders, crossing in main level. Gold should be near or on top of same. Also a drive to the west at a lower-level would be required to be driven about 300 feet, which would be approaching the parallels of where good was worked in Golden Reef claim. Those drives would require timber, which would be more expensive than any of the present drives, but might discover payable ground. There were other parts of the mine that should be prospected, the ground lying in a good parallel, but all or any of these works would require calls to be made for prospecting same, and being wholly for reef wash, the chances of success were purely speculative. The manager concluded by stating that his object in submitting his report was to allow time to consider the financial position of the tribute, for on his taking charge of the mine he was led to believe that there were large areas of payable ground ready to block out, but after, careful examination he found such did not exist. He therefore felt, it his duty to intimate the same to the directors. In answer to questions, the chairman stated that the Koh-i-Noor had broken the tribute in the first place, and that the gold retained could be recovered by legal process; also, that Mr Morey, one of the company's board, had positively stated that the gold would not be given up. A long discussion on the position of the tribute with the company, in which it was elicited that the company refused to deal with any of the tributors except Mr O’Farrell, and that when the chairman waited on the company’s board he was merely allowed into the room on sufferance. It was resolved that a deputation of directors be appointed to wait upon the New Koh-i-Noor Company’s board, and inform them that Mr O’Farrell is not the sole proprietor of the tribute, the deputation to act for the best interests of the tributors. Slessrs Downing, Clarke, and O’Farrell were appointed, as a deputation, and the meeting adjourned.

1877
In May 1877, one of the tributors complained to the local paper about the company secretary taking credit for their generosity: "NEW KOH-I-NOOR TBIBUTE COMPANY AND THEIR SECRETARY, J. F. DINEEN. TO THE EDITOR OF THE COURIER SIR,— Will you please to allow me a small space to ask, through your widely-circulated paper, what has Mr J. F. Dineen done with the £10 voted by the above tributors at their last general meeting to the Ballarat District Hospital? I see by your last Tuesday's issue he has given himself the credit of having made a very generous donation of £10 to the above institute.— Years. &c., A TRIBUTOR, AND ONE WHO VOTED."