Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1894-06-29
THE GOLD SUPPLY.
Immense Deposits Found ia Vast
South African Tracts.
Nsl nsss Tsavslsss' Taies, eut osvssamsni
Rsper.s-S2, 900 900 in sighi.

Hepof.s-$Z, 600 600 In JtQhI.
WASHINGTON June as.-fspecial l.
During these few hours of transitional in.
activity IN congress NAV he permitted e.
turn to q subject which NAV be The means
Of solving or simplifying the financial
problem. From an examination Of recent
consular reports learn that south Africa
really bids fair to be the real land OF Opbir.
and there ia excellent reasfm tn expect that
in the near future the worlds balance q
the precious metals will he compeIled 10
smother rcadiustment by the magnitude Of
the gold added from these south African
fields,
A Reliable Report,
A little over a year aeo nm American
mining engineer. MI Hamilton smith.
was enplove.i as an expcrt NV the honse al
N. NJ. Won Kothschild &. sons to rcport
upon the real value of the tract near To-
hannesburu. I'm which mining opcrations
were already Considerable. and he estimat-
ed a total OF about 81 .044. 900 600 in gold
attainable in those workings. prcsccu.ino
them to no greater depth than q. 600 feet.
More thorough exploration Inv doep bor-
inns and the testing of new lodges have
since then enabled a more exact and rcli.
able report to be made by another eminent
mining expert. Herr Scbmeisser. who
was EMPLOYED by the German government
to make Il and tho results Of whose re-
searches have lust been printed i'm The
RcichsanzciRcr Imperial Adyertiser,.
From this It appears that the total weld
OF this tract, in which there arc 60 mines,
from the commencement Of opcrations IN
1858 until the close Of February. 1894.
was 4, SEA, G67 ounces Of gold, Of a value OF
$S2, 1894, 782. 80. The refining being i'm.
perfect, II commands prico OF but $17. IL
per ounce. Until 1899 tho output was
small comparatively, as tho enterprises
were then only getting under way, but In
that year 1,21O,54f ounces Of gold were
obtained and In 1893 the yield was 1, 478,
473 ounces. The two months Of 1894 re-
ported show still more rapid increase.
January gave i9, sl4 ounces and February
15f, OS7 ounces, an average Of s, 100 ounces
per diem as against the average Of 4, O5O
ounces In 1893. 1t was expected that at
this rate the output would by tho month
ofAugust reach goo, 900 ounces per month.
The average cost of production has been
at the rate Of IS. 38 per ton Of conglomer-
ato treated, which would DO covered by a
gold content Of 7.5 pennyweights per ton,
while the actual content IL from 4 go to
~. 65 pehnyweights. Some mines under
exceptionally favorable circumstances arc
reported az having afforded small profit
upon ore yielding as low az five penny
weights per ton, while Others under pc
Culiarly disadvantageous conditions have
cost as much M 11.O7 pennyweights per
ton for extraction.
Tho Witwatersrand district, near 10
hAnnesburp, which in 1899 Welded
7s2, $50 ounces OF tho total output of
1910, 6S4 ounces, has dcmonstratclly
profitable working length of 10 miles,
which II IL estimated can be taken Go
a depth OF 1898 feet. %. 1854. 600 tons
of ore, Welding nm average of 13. so penny.
weights OF gold to the ton, amounting to
b9,572, t40.8 ounces, worth 81. O2O. s2s. 355,
II the workings can be profltahlv carried to
n depth Of 3. 937 feet, tho yield will be
00, 1921, S02 ounces, Of the value of 81, TO.
COS, 600. Tho former amount would be
worked out, allowing for present rate of
increase continuing 10 years and the out
put then becoming stationary. in 25 wears
q from the commencement of 1894. while
tho latter would all bo obtained. 1t Is esti.
u,
But 1t must be remembered that the
Witwatcrsrand, which il nh s1pposed to
DO aurifcrous, Is 80 miles long. while the
tract thus reported upon covers but ia
miles and does not include even portions
Of that territory which might afford n prof
itablo Yield by more economical processes
than now in vogue. And in addition to
this there nro authentic and reliable re-
ports OF paying gold deposits at Klceksdorp.
Ia5 miles southwest of Johannesburg.
at voyheid. $50 miles southeast of ,Johan.
nesburg; at Hayertsberg. in tho Tout.
pansbcrp district: on the Duivel's Kan.
toor an the tons Of tho mountains which
include the Dc Kaap district to tho south
and cast. and in number of other widely
scattered places. tho rcspcctive values Of
which arc ns vet only imperfcctly deter.
mined.
Cost Of Mining.
Richer than any Of these arc said 70 he
the deposits in Newfoundland and Matn-
belcland as far north Al tho Zambszi river.
n territory until recently closed to pros,
pcctors, but sending out abundant eyi.
tlcnccs of It's wealth OF gold. Indeed II Is
known that the Portuguese, when they