THE SOUTH AFRICAN GOLDFIELDS.

Taranaki Herald, Volume XXXVIII, Issue 8644, 3 December 1889, Page 3

THE SOUTH AFRICAN GOLDFIELDS.

Referring- to the extensive speculation in the South African goldfields, the Economist says :—": — " There has been throughout the past month or two a steady revival in speculation in mining shares, the activity extending from South African gold and diamond shares and the high-priced copper shares, to what was generally regarded until quite lately as the rubbish of the market. Shares standing a few weeks ago at from Is to 4s or 5s have been worked up from 20 to 50 per cent, and in one instance a rise took place from about Is a share to 20s, though the highest price was not long maintained. This was the case of Lisbon-Berlyn shares. That Company was one of the earliest South African gold ventures floated in this country ; it has, so far, had a wholly unprosperous career, and it is now undergoing reconstruction for a third or a fourth time. The rise in the shares was based upon the receipt of telegrams showing assays of 50oz and 70oz of gold to the ton ; but something more than assays will be necessary to justify anything like the nominal capital of this concern, amounting, as it does, to £750,000. The advance in Langlaagte and Robinson shares does not seem to be very large, but it is to be remembered that the capital of the former is £450,000 in £1 shares, so that the rise is equal to over £500,000 in market value, while the capital of the latter Company is £2,750,000 in £5 shares, so that the increase in market value is over £960,000. The Langlaagte crashing last month yielded 65000z gold against 6100 in July, and 6027 in June, but most of the returns for August either showed no change or were less favourable than those for the preceding month."