CAPITALISING ORES

Evening Post, Volume CXVIII, Issue 60, 8 September 1934, Page 9

CAPITALISING ORES

THE COLD PRICE FACTOR

The last new jump in the price of gold will, give a new push to the reassessment of low grade ores—and to the gambling that attends on their revaluation. This is already an old story on the Band. , The ; Johannesburg correspondent of the "Morning Post" writes:—> With the rising price of gold, with numerous big new miuing flotations involving about £15,000,000 capital in the near future, and with ever-increas-ing, dividends, Johannesburg is again experiencing something like a Stock Exchange- boom. Nine-tenths of the city's population is gambling furiously while the going is good, "with the result that, there is more money in Johannesburg today than ever in its history. Horses, greyhounds, and even the Irish sweep have been taking a back seat, for, with past experience guiding them, every typist, clerk, and tram conductor knows nearly every mine and its potentialities, its life possibilities, and, its values. One share rose a pound in a day, while ten-shilling increases in a week are quite ordinary. Many speculators with £IOO capital have made £IOOO in the past month. One liftman, who made £2OO, got drunk in ,celebratihg it and was absent for two days, with the result that he was suspended from duty for a week with loss of pay. During his suspension he made £ISOO, and resigned his job. '