THINKING it might prove both interesting and useful I have compiled an analytical statement of the business of the Western Silver Mining Company No Liability, from the first prospecting in April, 1888, to the date of the last half-yearly balance on 3oth September, 1897. The Western Silver Mining Company originated out of the Western prospecting Association, a small private association in fifty shares, which was formed to send out prospectors to Mount Lyell and the surrounding district, immediately the discovery of the now celebrated Mount Lyell mine became known. After taking up numerous sections around Mount Lye11 and elsewhere in that neighbourhood, these prospectors determined to explore the country about Mount Zeehan, and for this purpose joined forces with two other prospectors, representing two Hobart Associations. Their first discovery was a silver-lead lode. The three Associations agreed to take up eleven selections on joint account, and to form a separate Association, under the name of the Silver Queen Proprietary Association, the shares in which were equally divided between them. This was the lode worked later on by the Silver Queen No 1 Shaft.