Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1886-12-25
SOUTH hFRfCAs GOLD.
Fortune Seekers Pouring Hat" ths
Country Facts.

SOUTH AFRICAN GOLD.
Fortune. Seekers Pouring Iafo the
Country -Sfatisticai Facts.
fCape Town letter TO the London Times'I
The development OF the gold fields
continues to absorb public attention.
From every town and village in South
Africa during the past three weeks
stream of fortune seekers have wendell
their way to the De Kaap and Wit
watersrand. The population of Bar
berton has more than doubled, and is
daily increasing; stands for building
and business sites are being eagerly
purchased there; new syndicates are
being formed and new companies
floated. The total capital Of all the gold
mining companies is stated to be not
far short of 100000 pounds, while
their value, as represented by the ruling
share prices, is nearly double that
amount. In many cases the realiza-
ton of returns is a long way off, as
there is no machinery Immediately avail
able for the development OF the proper
ties; in other instances some of the
companies have been-even with very
inadequate appliances-very success
full; and it is this, together with the
handsome return from company pro-
noting" which has been the incentive
to so much speculation.
The Sheba Reef Company has pre-
scented report to their shareholders
giving the result OF their first six
months working. 1t shows that they
have crushed III tons, yielding 5,642
ounces 16 pennyweights 6 grans-an
average Of I ounces 6 pennyweights 9
grains to the ton. The expenses in
Cured in the transport and treatment
of this tonnage exclusive Of mining,
which are nominal, the auriferous rock
being simply quarried) were as follows
Transport from mine to batteries, l,6S9
pounds 5 shillings; crushing, l,48G
pounds. Total, 3,l75 pounds 5 shil-
lipgs-a total Of 80 shillings Al pence
per ton. Taking the value of gold here
at II shilliDgs per ounce, we have a
gross return Of 20,03l pounds 10 shil-
lipgs Q pence; deduct expenses, 3,l75
pounds 5 shillings, leaving a balance Of
1856 pounds ii shillings 9 pence.
Out Of this the shareholders have re-
ceiyed in dividends 62l per cent. on
the paid.up capital Of $4,000 pounds
With a view to avoiding the heavy
charges for transport and crushing the
Sbeba, in conjunction with the Oriental
and Nil, Desperandum Companies, has
arranged for the construction Of a tram
way from their properties to the crush
ing. mills sites, where they intend erect
ing at least 80 stamps, TO be driven by
turbine, to work up to 1870 stamps, and
when this is completed the exceptional
richness Of the Sheba reef will be fully
established.
Weekly shipments of native gold
from the fields may now be looked for,
the Donald Currie steamer Of this week
taking 1850 ounces of the declared
value of Il, $50 pounds. For this pres
ent year the total export will be about
100000 pounds, but next year, when
several Of the companies will fairly
start work, it is estimated that it will
advance to at least three-quarters of
million.
On the Witwatersrand fields, be-
tween Pretoria and Heidelberg, some
Of the capitalists Of Kimberly have Sc
cured gold properties from which won
derful results are also expected. Mr..
W. Knight, who has been long and IA
yorably known in connection with sue
cessful mining enterprises at the dia-
mond fields, has secured mining rights
on the farm Of Driefontein, where pros
pectiDg work has resulted in the dis
coyery OF four conglomerate gold-bear-
ing reefs, giving together an average
thickness of about twenty-three feet,
extending over three and a-half miles in
length, with a proved depth of about
100 feet. Adjacent to this Mes'rs.
Rhodes, Rudd, and Caldecott have pur-
chased for 10, 90 pounds the properties
of Riefontien and Witkopples; and
several other syndicates and individuals
have secured mining privileges in Che
same neighborhood. When companies
ale organized and mills set to work 1t
is expected that these fields will give
On average return Of an ounce per ton,
and that the total cost OF extracting the
gold, mining royalties, and other
charges will not be more than 10 shil-
liDgs per ton.
tits pretty we'll ascertained that the
auriferous formation in the Transvaal
runs across the country, almost along
the parallel Of pc south, from tho lie.
bombo Mountains on the east to the
boundary Of British Bechuanaland on
the west. The latest reef discovery
has been on the Malmami river, near to
Zeerust, and only fourteen miles from
Mafeking.
At the knysna, within the Cape Col
only, it has now been established thai
gold bearing quartz veins exist
although the few tests hitherto made
have not given great results. From
some Of the surface quartz only sever
penny weights have been extracted, bu
selected specimens have yielded equa
to four ounces per ton. The Govern
ment is at the present time having 8
ton of the quartz crushed and assayet
before determining whether the distrc
Of the Knysns will be proclaimed as ;
gold field or not. With the advantages
Of plentiful wood and water, aud neal
proximity to an excellent port, thu
Knysna gold field may prove payabl,
with a much smaller average result
than attracts attention at De Kaap anC
Witwatersrand.
The most interesting person VIII
claimed the honor of shaking hand
with the President last Tuesday wa
Elias Polk (colored), the old body
servant Of ex.President Polk. Con
siderable attention was shown the oil,
man, who bears his eighty-one year
remarkably well. lie was shown owe
the house, and was particularly please
with the pictures Of his former maste
and his present mistress. He remarked
sadly that the building had been vor,
much changed since the good old time
Elias lives with Mrs. Polk at her oil
homestead in Nashville, Tenn. lie ha
determined to see every Presidsn