Wallaroo Gold Mine (Monte Christo; Welcome), Menzies, Menzies Shire, Western Australia, Australiai

Regional Level Types
Wallaroo Gold Mine (Monte Christo; Welcome)	Mine
Menzies	- not defined -
Menzies Shire	Shire
Western Australia	State
Australia	Country

Shareholder meetings are generally dull affairs. A half empty auditorium of retiree shareholders, who nod off to sleep, as management detail facts and figures for the financial year. Some brave soul may raise the issue of obscene management wages and commissions,only to be fended off , with the knowledge the majority of shares are owned by other corporations and superannuation firms.

Such an easy life was not for the directors of the Wallaroo Menzies Gold Mining Company, who from its inception, managed to attract every hot head living in Adelaide in the late 1890's. Their meetings were fiery, chaotic and usually descended into a shambles. This company barely lasted two years, from 1896 to 1898, and was liquidated for want of more capital.

The Monte Christo and Welcome were two leases on the original site, but little information was found under these names. The Wallaroo company was formed in Adelaide in 1896 to take over the leases. A five head battery was erected, known after as the Wallaroo Gold Mine.

As an accountant pointed out at the time, the operations of the mine and balance sheet of the company could improve, but were little different to how most mining companies were operating in this period.

Things went downhill from the second meeting. Shareholders were critical the mine could be a dud, and demanded both the original owners, and writers of the prospectus be prosecuted. Following meetings saw two of the directors, but mainly T.H. Smeaton critical over the balance sheet, stating the figures for the Mary Menzies Mine the company also owned, had been muddled with the Wallaroo mine. An ex mine manager
stated when he arrived he found the workings in a poor state, little gold, and the operations poorly managed. Shareholders saw red.

Subsequent meetings saw arguments break out between shareholders (at one point descending into a brawl), directors verbally abused, shouted over, several attempts to remove the directors only to be over-ruled by the chairman, and various meetings adjourned as they had descended into chaos.

Over two hundred people would attend the meetings. It came to light many did not own shares in the company. One particularly virulent
'shareholder', J.H. Horwood, turned out not to own shares, was pursuing a personal vendetta as the company would not buy mining machinery he was trying to sell to them. He was not alone however.

Accusations were made that various members of management were related, with the inference they were colluding. Criticisms were made over costs, with shareholders claiming they were excessive. The directors initially refused to explain further the expenses, stating the books had been audited. The shareholders then appointed an independent auditor, who came to the conclusion the original accountants were correct, and there was no problems with the books. The shareholders refused to accept this decision.

Dozens of letters were written to local newspapers.Sometimes up to three in the same issue. Various shareholders wrote in with derogatory remarks about the directors. Other shareholders wrote in with derogatory remarks about the shareholders who wrote the original letters. The company accountants, R. Scholl and Fred A. Price took exception at their reputations being sullied. Auditors Vinrace Lawrance and G.R. Ansells also wrote in stating they were listed as the company auditors, but after a cursory look at the books, and quoting a fee the company declined their services and obtained other auditors. They were critical shareholders were never informed over the change. Smeaton claimed he had talked to these original auditors who had declined the work due to discrepancies in the books (unlikely considering the role of the auditor would be to highlight this). The chairman, G.A. Wyld was critical of everyone making their concerns public, ironically by his letter being published in a newspaper.

In November 1898, the directors decided to wind up the company either for want of capital, or they had enough of the shareholders. Another scene ensued, but was carried by a mere three votes from the shareholders present.

The lease was 24 acres of two 12 acres leases. There were four north-south lines of reefs. Nine shafts of varying depths were on the lease by the end. The former Welcome lease had contained an alluvial patch. The lease contained a five head battery, engine room, assay office, storeroom, blacksmith forge, and small cyanide plant. Of the last piece of equipment, another mine manager employed to inspect the mine on liquidation stated the cyanide plant was a disgrace.

Little happens after the company left. In 1907, Simpson, E. Rickards, and George Roberts erected a cyanide plant of their own at the old Wallaroo battery site to treat the sands. It is stated the operations
by the original company had been undertaken carelessly, and much gold remained in the sands.

The Wallaroo Mine is about three kilometres south of Menzies, and either immediately west of the Lady Harriet open pit under a mountain of tailings, or the disturbed ground immediately south-west of the pit bordering the west side of the track.

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