South African Pictorial - Volume 17 (Jul-Dec 1923)

12 SOUTH AFRICAN PICTORIAL. i A 4 DAD -< = = = ye @ SS / (AYRIALTO ‘SK é Z A aaa Faw EOS e 4 e ANTONIO JOHANNESBURG, Tuesday afternoon. OR a Monday morning—when brokers usually prefer to await advices as to what is going on at the week’s opening on the other side—the market yesterday was distinctly active. A goodly proportion of the dividend money which had been paid during the previous week was being reinvested, the public pursuing a cautious policy and buying the best stocks. Thus Modders were taken a tickey over level money of 80s., reports of continued high development values—one could scarcely wish for anything better than the development in the June quarter—helping to increase the demand. These shares are looked upon as giving an assured 10s. a year, or perhaps even a shilling more, which is 124 per cent. gross on the money. But one should put aside 2s. 6d. a year to replace the capital at the end of the life of the mine, which reduces the interest to about 94. Brakpans were bought in considerable quantities up to 59s. 3d., it being realised that even if the distribution is no more than 8s. a year, the same rate as the last two dividends, it is a handsome yield on 60s.—something like 134 per cent. But here again umortisation of capital must not be lost sight of. City Deeps were decidedly popular, being bought up to 53s. 9d. (ex London) in the afternoon, a rise of 8s. on the week. Those who exchanged Crowns for Cities, as related a month or so back, did quite well, as they have got another “‘ crown ’’ again in the shape of profit. In other words, there was quite five shillings between the two yesterday. Robinson Deep ‘‘ B’’ were as good as 15s. 3d., being fancied by those who do not mind keeping out their money for a couple jf years and then getting a very handsome return. at lis. have, so far, missed the market. The ‘‘ pace ’’ was not kept up to the finish yesterday, and this morning we hear that the French are ‘‘ very cross indeed ’’ (like the fairies in ‘‘ Iolanthe ’’) with the British reply on Reparations and the Ruhr questions. Thus City Deeps are back to 52s. 9d., though Crowns are unchanged at 48s. 38d., and Modders only a tickey less than their best price yesterday. Springs are 47s., while a, buyer is offering £5 11s. 9d. for States. Van Ryn Deeps maintained their improved price of 64s. 6d. By the way, that was not a bad little quick ‘‘ turn ’’’ I suggested in Main Reefs at — 8s. 3d., as they were 9s. 6d. yesterday. The groups have been ‘‘ improving the shining hour ”’ of dividend dispatches by a little propaganda work regarding taxation, sent out in the same envelope. It recites that the amount of the cheque would have been materially greater but for the various burdens placed upon the Mining Industry by the Union Parliament and the Transvaal Provincial Council. Direct and indirect taxation of mines in this country is heavier than in any other part of the British Empire, and probably heavier than in any other part of the world where gold mining is conducted on a substantial scale. In 1918 a Government estimate showed that the Gold Mining Industry was contributing, directly and indirectly, 89 per cent. of the total Government revenue, and other mining ventures 11 per cent.—in other words, that the Mining Industry contributed 50 per cent. of the total revenue of the State. The proportion of the revenue contributed by the Mining Industry to the alas at the present time is probably more—certainly not ess, ‘" There are over 15,000 individual South African shareholders in Transvaal gold-mining companies, and it is obvious that if these shareholders would take an active interest in the matter, they could bring considerable influence to bear on members of Parliament and Provincial Councillors.”’ Those who were waiting to buy. AucusT 18, 1923. qe OREN EOS CRORE RE ROOT seeee ee Peek Es DERE ee Ce EREseeee se be scene beeeapeaesaeseneeny, W. F. Johnstone & Co. LIMITED, 94, FOX STREET, JOHANNESBURG. Pppp | TIMBER MERCHANTS, AND ALL KINDS OF BUILDING MATERIALS, BEAVER BOARD, OREGON PINE, TEAK, Etc., Etc. Phones 3615, 3616. Box 1869 COMMERCIAL FLASHLIGHT STILL and PRESS PHOTOGRAPHERS For Terms for all kinds ef work Apply AFRICAN FILM PRODUCTIONS, Ltd., KILLARNEY STUDIOS, P.O. Box 2787 Johannesburg. habetetehebebahahebabeehehe tebe btelell Li bi titi titi ti iiiiiifiiiiit tT tt i Experts in Cinematography setabahedebatabteelehdetehleelelet bled itil titre rtet GERMISTON. HOTEL ALEXANDER The Premier Hotel of the East Rand Special Rates for Theatricals Spacious Hall for Dances etc. PHONE = ~— 322. CENTRAL HOTEL, SHORTMARKET STREET, CAPE TOWN LIQUORS GUARANTEED. SOSSOSOSSSSSSOSSHS SESSCSESSSSS ORAS OTCHSRSDeeeseaRaeaRasseLesusecessaceunsan® WHEN YOU REQUIRE A PLUMBER Night or Day. ar. -88eaa8e F.A.SHARMAN 2222 Hote Ohange of Address:—191, COMMISSIONER 8T., O/o MOOI 8. SS OORRSSCRESSeensaseesases LR esnaceucseces: COSC RES CHORES ESEER DESRERSeReeeRseeeEeBeees CeUseRseesnecenesensenaaesaveses Fureka Palace Bar. — ADJOINING THE EMPIRE. JIM MOSS . 8 . 8 . Proprietor. FAULDING’S EUCALYPTUS OIL (THE GOLD MEDAL OIL).