The herald., 1897-10-19
announcement: t.:

The total yield of gold in the South At
rican Republic from 1884 to 1895 bothyears
inclusive, has been 942, ,3Si,24S. The COM
paratively small increase in the product
of 1896 over that of 1895 is not attributed to
the exploitation of the ore deposits at
their maximum capacity, but to deficient
supply of water and native labor in which
1t Is considered limit has been reached
which can only be passed by slow steps,
Nevertheless, the production of the Wit
watersrand in 1897 is showing another as
tonishing increase. The total expenses in
the South African gold mines and metal
lurgical works in 1896 were 2974O,921; in
the Witwatersrand alone they were GS.-
44,95I. This was f2 Is. sd. per Ton of ore
crushed g. 995, 1928 tons). The amount of tall
ings treated was 2,S45, 9S6 tons, and of con-
centrates 40,40l tons. The production, op-
Grating expenses, ETC., for three years have
been as follows:
Year Yield Expenses Dividends Losses
1894 .96,S17, ,16s G5.232, 043 G1,477.937
1895 7,69S,0lO 7,o29,662 216l,99S G1, ,49S.645
1896 7.7S1,Sl5 S,474,s57 1.541.959 2,235, OIL
The most important feature of this state
ment Is the showing that against the 97,-
7S1,S45 which the Witwatersrand produced
in 1896 there was an expenditure of eS.-
474,951 mot including management and new
construction) that is, deficit of E693 112
try. s1.54l. .95S was paid out of the product
by certain companies in dividends. other
companies must have lost an equivalent
amount. The statement of the year may
be summarized as follows: Dividends, G1,-
Gal $685. losses, G2.235,071. We have referred
frequently, says the Engineering and Min
ing Journal, from which this information
Is derived, to the misleading representa-
tions of the profits In mining. which are
based only upon the successfuf enter
prises, while the losses in the unsuccess-
full are overlooked. TO make the state
ment for the South African mines COM
plete. we ought to have a report of the
annual losses from the beginning, but. un-
fortunately, these excellent statistics do
not go so far back as that We are con-
seQuently unable to compute the intimate
cost of producing gold there. The figures
presented are very instructive, however.
and it Is to be borne In mind that they per-
tain to one of the greatest ore deposits in
the world, one that Is comparable in ex-
tent with the Comstock lode; one that la
bors under certain unfavorable conditions
of exploitation, it is true, such as insult
fcient supply of labor and water, high cost
of materials and unfair governmental i'm
positions. but on the other hand is favored
by the geological conditions.
\ \ +
At the annual meeting of the Bank of
California, held in San Francisco on
Wednesday last, the financial report of the
secretary showed the average cash move
ment per month was $67, GAS. .5S6.S5, or a to-
tai for the year of twelve months of $751;
747,042.22. The following officers were SUBJ
sequently reelected: President, William
Alvord: vice-president, Charles r. Bishop:
cashier, Thomas Brown; assistant cashier,
s. Prentiss Smith; second assistant CASH
ier, Irving F. Moulton; secretary, Allen M
Clay.
= 4 +
At an extraordinary general meeting of
the British Aluminium company, limited.
held recently in London 1t was stated that
action had been brought against all per-
sons who had imported aluminium from
America and Germany; injunctions had
been granted and all those who had dis
puted the monopoly had submitted except
one or two. who were about two submit
Under these arrangements none of the
companies which manufacture aluminium
In foreign countries will supply aluminium
to Great Britain. The principal firm
against which the company brought action
was Sir w. G. Armstrong, Mitchell & Co.,
limited. Of Newcastle -on-Tyne. the great
naval construction concern.