The Hawaiian star. [volume] (Honolulu [Oahu]) 1893-1912, 1902-07-22
WILL BENEFIT THE L. S.

Peace having been restored in South
to restore normal activity in the golj-
mining industry at johannesburg and
other portions of the Transvaal region.
AS the result had been discounted in
to the successful result of the negotia-
tiOns between the British authorities
and the Boer leaders, there has been
no speculative boom in South African
the progress of mining development
will be accelerated, and that in all
probability the London stock market
will before long witness the advert of
many of them of a poor quality, and,
therefore, doomed to failure. At the
same time, according to Bradstreet,
there will doubtless be enough new en-
terprises Of a substantial character ard
with efficient management to cause a
material increase in the gold output of
the Rand" and to augment the vol
ume of dividend-paying securities bas-
ed on the mineral wealth of the region.
1t is accordingly of much interest to
have the views of one of the foremost
mining experts cOnversant with Trans
vaal gold mining, John Hays Ham
mond, on this interesting subject. In
a paper contributed to the proceedings
of the American Institute of Mining
Engineers, which has been widely re.
published, Mr.. Hammond has recently
traced at length the history of the
Transvaal mining industry, explained
the economic and practical bearings of
the business and given a forecast Of
its future under the new conditions.
In the first portion of this paper he
points out that the discovery of the
Johannesburg conglomerate auriferous
reefs dates only to 1885, and that the
production of the mines began in 1887
when about GS1OOO, or S4OO, 600, of gold
was credited to the district. Since
then to 1898 inclusive, the value of the
gold output of the Rand aggregated
over G46,OOOOOO, or 5000, 900, 600, and
when the war began the mines in oper-
alton represented a capitalization Of
over 7OOO0,OOO and a market value Of
some Gl47 100000, the dividends paid
by the profitable enterprises averaging
1899, at the time when the war caused
a suspension of mining, the product of
the Rand had been e12,845,OOO for
about eight months, or at the rate OF
els, 1927 900 for the full year, with the
prospect Of the total yield reaching
sim larger figures by reason of the
progressive increase in the production
of the new deep-level mines.
With the establishment of a British
government over the Transvaal. and
the abolition Of many of the onerous
taxes to which the mining industry
was subjected by the Beers, Mr.. Ham
mond looks for great improvement in
respect to the economical working Of
the plants already established and a
further development of the industry.
Taking the deep level into considera-
ton, he estimates that there is some
500 600 600, or $4,000 100000. of gold to
be obtained from the deposits now in
sight. Better facilities as 10 labor ami
the encouragement which a well-order-
ed government viii offer for the rapid
exploitation Of the reefs are likely TO
accelerate the development of the dis
trict and to increase the yearly output
of gold from this greatest of gold-pro-
ducing regions. There will be some
good out of the war after all. Ameri-
can machinery and products will be
used, and much American capital will
go into the mines themselves,