The sun. [volume] (New York [N.Y.]) 1833-1916, 1914-02-08
Great Sale of stocks.

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The cultural sounds and shricks OF un-
pronounceable Dutch farms on which the
gold discoveries were made, and shares
Of which wer" dealt In IN thousands
drowned the attempts to hear what really
took place. Happy the broker whose
voice could penetrate this tumult of
thunder. this babel of tongues lie re-
celved the orders of the magnates. the
immense harvest OF commissions, liberal
TO an extent unhoard OF.
Presently Europe took hand at the
game Robinson shares. nomlnd.ly So
changed hands at si.J a share Fer
reiras, company which has paid dvi-
| bends amounting In all TO 5000 per cent,
were eagerly bid for at $3.50 "a shar. f.
Salisburys, another favorite reached 1925 .
Jumpers $la5 and hundreds of others still
familiar in to-day's stock exchange quo
tations rose to unheard Of figures
The fact was the Witwatersrand had
been grossly underestirated when the So
called Blanket" reefs were first discovered
and anaiyzcd. Not enough gold there TO
make n decent sized wedding ring out Of
was the cOntemptuous report OF mining
experts to powerful Kimberley finance
group. These reefs. which are IN reality.
as expressed 10y the we'll known mining
magnate. Sir Lionel Phillips. "A huge fac
tory of gold, may supply gold at the
present rate for generations to come.
These reefs that have made hcggars
millionaires. sch.mers, empire builders,
common soldiers generals. simple farmers
Prime Ministers, ~" zenith OF human
amhit!ur--tH.s reefs were not worth
the price Of a wedding ring No wonder
the term "mIuiag expert became syn,uN-
nous with In"ccuracy. In all discoveries
of mineral wealth Development and nm
earthlng of the uugotteu mat-ra, is de-
pendent upon the financial aIl the much
abused CaIitallSt viii SUNNY
Mining after all IL like lottery in
which IN" prizes are few. the blanks
many. The Trausvaal had many elusive
gold prospects Barh"rtou sprung up over
night and proved a bitter disappointment
to III" Kimberley mining naguatrs who
supplied IN" sinews to this Will - the
wisp goldheld and lost heavily
The early prospector OF the Rand
had anything but warm reception at
the hands of the Kimberley nnauci-r
He was told of the experiences. the dis
appointments. the losses ANA the hopeless
ness of Transvaal gold mining The fact
was kimberley was just then in the thrurs
OF big diamond deals. and had employ
ment for super'luuus funds and plenty
OF excitement with ii. The Rand pros
p"cior wendell his way to Natal and the
cape Colony.
Port Elizabeth CAV" him more willing
ear. pieteruarit2hurg and Durham fol
lowed and thus enabled him to place the
- shares for the first companies at 8" 80
and S3 apiece for purposes Of working
capital Little did these early Investors
and Spectators dream what put.ntialties
these paper certificates bore. When the
gold boom started many attempts were
made tn tempt these holders to part with
thei, shares at inviting ugur.s but in
most cases they proved uhdurttc.
Ir!ccs uu the johann. Shurs Stock EN-
oHau-" ROSE daily. The mln.ruIt,orS
tried their utmost To hrcp quotations
down, ihe.r Object being To secure tn,
precious certificates At lower figures be-
fore the European public had a chance ,o
come in