THE RISE IN RAUBS
The Straits Times 12 November 1896
Upon the strength of the report of last month’s crushing, Raub shares are booming, as much as shares ever do boom in a Singapore market. Mr. Bibby is the Optimist of Raub. He is a believer in Raub, and his latest reports are calculated to convince the public that, in Raub, the investor has a magnificent field of gold. Mr. Bibby, according to a private report, has within his ken and ready to hand for treatment, sufficient ore to keep fully employed sixty head of stamps for at least three years. Mr. Bibby is ambitious.
A short time ago, he told the shareholders of Raub that that was sufficient ore ready and available to keep busy one hundred head of stamps for several years, and he implored the shareholders of the Company to subscribe the additional capital that was necessary to furnish him with the requisite plant. The shareholders, whether from perverse disinclination or poverty, did not respond to his request. They said, “Let us develop this mine slowly, let us pay for machinery out of current profits, let us get the hundred head of stamps by all means, but let us get it without and further call.”
And so the magnificent scheme which emanated from Mr. Bibby, and Mr. Bibby’s unconquerable optimism, fell for the time to the ground. Now he says, “Give me sixty head of stamps; give me sufficient machinery to work this field. The gold is there; it is waiting extraction. There are dividends, big dividends, in this field of Raub, if you will expend sufficient money upon the means of securing it.” Will the money be forthcoming? We fear that it will not.
The majority of the shareholders of Raub are in Brisbane, and in Brisbane, if we mistake not, there is not much surplus money.
THE FIRST RAILWAY IN PAHANG PROVINCE OPENED TODAY
The Singapore Free Press & Mercantile Advertiser 16 Oct 1895
The local Secretary, the Raub Australian Gold Mining Company, Ltd., from Raub. Telegram, Raub, 16th. October 1895
“First Railway in Pahang, Raub to Bukit Koman, opened today. Locomotive was being used to haul quartz to Battery and transport by Bullock cart stopped. Everything satisfactory.”
We heartily congratulate Mr. Bibby on the satisfactory inauguration of this great advance in the working of the Mines.
The Australian shareholders are content if there is no further call. Raub may be a promising goldfield. We believe that it is, but the Brisbane shareholder, judging by the proceedings at recent meetings, is not prepared to expend more of his capital upon the contingency of Raub returning highly remunerative dividends. Holders in the Straits are sanguine. They believe in Bibby. They think that what other people regard as his optimism is simply his shrewd observation, and they are willing, as the rise in the local market has indicated, to plank their bottom dollar on Bibby.
Unfortunately, or fortunately – the future will decide which it may be – the control of Raub is not in the hands of local shareholders. The body of the shareholders in Australia, uninfluenced by local partialities, are inclined to say, as regards Raub, “Let the mine or the goldfield be developed according to the developing agencies that you have at hand. Let us make it on that basis a paying concern, and then we will consider whether we should employ those profits and, if need be, subscribe further capital, in order to exploit what you in the Straits say is a grand goldfield.”
We have already said that Raub is a low grade mine, that its chance of success is in being worked upon a large scale. That is Mr. Bibby’s idea, and it was his proposal; but, in Australia, they negatived his proposition. An extraordinary general meeting of the shareholders is, however, to be held next month at Brisbane to decide upon Mr. Bibby’s proposals. Perhaps, recent reports that have been of so satisfactory and encouraging character may strengthen the belief in Raub, may loosen the purse strings of the Australian shareholder, and may give to Mr. Bibby all that his heart desires. But we doubt it.
This chart section from a geological survey in 1938 shows what the Raub mines would become at their zenith. In Williams time, there were five working shafts starting at the New Raub Hole and ending at Nth Bukit Koman within the rectangle. All were connected by the railway.
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|A Gold Field|
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|The Misses Bibby|
|40 Head Battery|
|Family After Raub|
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