MINE ECONOMICS. 



65 



postage, and fire insurance. " London office " comprises directors' 

 fees, salaries of managers, secretary, accountant and clerks, office 

 rent, etc., auditors' fee, printing and stationery, telegrams, postage 

 and sundries. 



" Depreciation of plant and machinery " is an arbitrary amount 

 annually written off the cost price of machinery and plant. " Royalty 

 on gold won " is the amount paid to the Mysore Government 

 at the rate of 5 per cent, of the gold produced, being the condition 

 of the leases on which the properties are held. 1 The mines are not 

 subject to any further rent, license or other tax. Five per cent, of 

 the output amounts to no mean sum in the case of the richer mines, 

 as will be seen by the following statement of the royalties paid 

 during the past four years by the four leading mines : — 





1896. 



1S97. 



1895. 





1899. 



M y sore . . 



£ 21,036 



£ 24,737 



£ 30,885 



£ 



30,080 



Champion Reef . 



„ 14.984 



„ 22,168 



» 25,331 



)> 



28,920 



Ooregum . • 



„ 12,224 



„ 10,325 



» 9,737 



» 



",352 



Nunaydroog 



» 8,327 



„ 10,570 



» 7,704 



>> 



8,143 



The variation in working expenses during the past four years is 

 given for the four leading mines in the following table, in which 

 the costs are expressed in shillings and pence per ton milled, 

 London office and depreciation being included, but royalty given 

 separately :— 



1 The present leases expire 10 years hence when a new arrangement will have 

 to be made. 



