Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-12-19
SOUTH AFR|CA WEALTH
Mines OF the Dutch Republics
Yield Well in Spite
OF War.
Enormous Wealth Of the Mines
Shown by Reports of Con-
solidated Mines.
Seventy.five Per Cent OF the
Mining Property Held by
One Company.

Tuesday. He said he was impressed
| with the magnitude, vast interests and
brilliant future of the company. An abb
| sence of years from Johannesburg en-
ahled him to review the affairs of the
company without the prepossession OF
one who had been living there in the
| past two years.
His statement should have almost the
| weight of an independent inspection and
valuation. The balance sheets showed
a surplus of assets over liabilities, ex-
GLIDING share capital, Of $3.50. 600. me
liabilities in issued shares We're f26So,-
900. The reserve fund amounted to e.
coo. The reserve fund amounted to sl,-
GS50,000. The balance of profit wac
965eoo. The company's assets totaled
s4,6D0,000, the principal items being:
Loans to mining companies. E6766 00;
investments in real estate. ES100o0;
stocks and shares. G2,!60,000. These ng-
ures represented the prices at which the
assets stood in the company's books. In
no case, altho the actual market value
was much higher, had an asset been
written up. but, on the other hand, since
1896 G1,300,000 had been written on for
deprecated assets.
The chairman dealt in detail with the
company's property. From his remarks
1t was evident that, besides the reserve
fund of sl,000.000, the realizable value
of the assets at a moderate estimate
should be given approximately as G10.-
100000, without reckoning the capital
lied value Of future ground rents, which
was nearly e 100000. The most impor-
tant items were loans to mining compa-
Mes which had been reduced by over
G 300 900 since the last meeting OF the
company. Most of these would be grad
ually repaid. A portion which was lent
to companies which, under the old re-
gime, 1t was impossible to work success
fully, Is now expected to be remunera-
tive. A saving of or slilllngs per
ton in the working cost OF crushings is
expected to turn a small working loss
into a fair profit. Such saving would
represent 121S per cent on issued capital.
These companies investments in real
estat figure the same as three years ago.
In Johannesburg their site stands and
some buildings represented R400,000.
This item alone represented In value to-
day the whole amount standing in the
owend the South Africa Theater block,
to proceed with the plans OF 1897 as soon
as workmen and material were availa-
BILE to complete the enormous building.
Referring to the letting OF block for
the imperial postal department at E1,-
600 yearly, and the fact that the various
| government offices were being located
In johannesburg. the chairman said that
these denoted a great interest in it's Inn
portance and likelihood of its becom-
| ing the administrative center. The COM
rany's suburban properties were valued
at E350,000, and comprised the Borea
estates. with LIP stands unsold; the
| Yeoviile estate, with sos unsold; the
/ Houghton estates OF 100 acres OF the
| finest sites about Johannesburg. with L.
I 800 stands. The valuation OF these es-
tates was put at E1.6c0,0o0. The Hough-
| ton had only a few stands sold privately
Mt $500 each. The company intended to
Luild residential hotel OF palatial de-
Iscription. The great demand. even for
/ private residences. in Johannesburg, al
ready far exceeded the supply. When the
population returns. with the enormous
Influx that is expected, the demand
would certainly Increase. They intended
to import motors for tramway traffic for
the convenience Of residents.
The johannesburg consolidated min
ing properties included Is per cent of the
freehold of the Leeuwpoort and East
Rand mines, which entities it to the
right Of Mynpaacht and other rights
equal In value to 400 claims. These were
placed at the low valuation of f93,
,rhe company's stocks and shares. which
stood at f2,250,000. market value. in
June. 1901, were worth now a2,750, 600,
showing surplus Of e50O,000 Impor
tant items in that were an interest of
about one-half In the Lindum gold
mines, whose shares stood at 9 shilllngs
each then, and were now 16 ehillings:
$50 claims with good prospects in the
Normandy Exploration Company, $4,000
shares at Waterberg, about a one-fifth
interest in South African brewery
shares on their books at 80 shillings, and
row worth 10 shillings; one-fourth in
terest in the Delagoa bay syndicate,
holding large properties at Lourenzo
Marques, and giving grip on the COM
ing port; 5000 Jagersfontein shares at
| rs, now worth 2215; about thousand
ings, now worth As shillings. The share
holdings of the company in Barnato
consolidated, Ferreira deeps and Jump
ers deeps represent a present value
equal to 33-shilling shares OF Barnato
consols. Besides, the company owns
1.343 claims. mostly in the Witwaters
Rand area and the Orkney estate. The
principal ether assets are Barnato con-
soils, all the shares Of Chimes and Wines.
holding $40 claims on the deep Chimes
main reef, large interests and blocks of
claims at Leeuwpoort and other places
On the rand (the interest in Barnato
eonsols should largely increase in val
ue); Johnnie shares and other interests,
about sixth Of Glencairn, ninth of
Primrose, a fourth OF the new Lection
tein, ninth Of Ginsberg, three-eighthE
of Roodspoort and an interest in Cree
sus; two-thirds Of Creslee. holding s22
claims in the Heidelberg district.
The chairman then dealt with rents
and interests accrued during the war,
He said while the interests OF the share
holders would see that the money was
collected, the company could also show
every consideration to the townsmen
who had suffered during the last terrible
two years. But there was q class who
has suffered little themselves and had
endeavored to benefit by the general
misfortunes. In dealing with these the
company would remember that its hrst