PROSPEROUS GOLD MINING.
The great rise in the sterling price for gold is, of course, baying a favourable effect upon the profits of all the leading South African companies. In the case of the Union Corpora- tion the realized net profit for last year was 2452,000 as compared with £256,000 a year ago and 1229,000 in the previous year. The Directors are now declaring a further dividend, making 6s. for the year against only as. 6d. a year ago. Large allocations are also made to the Reserve Fund, while the balance-sheet shows a very liquid position, the Cash in Hand amounting to nearly £3,000,000, with British Treasury Bills and Government Securities figuring at over £750,000. A particularly interesting feature of the report is the survey taken of the general position of gold and the Poreign Exchanges, on both of which subjects the Chairman and Managing Director, Sir Henry Strakosch, is one of our greatest experts. Because of the great interest which is taken in the future of gold, both by those actively concerned as shareholders in gold mining companies and by those who are interested in the matter from a monetary and currency standpoint, I believe that the extract given below from the report of the Union Corporation will be read with interest by very many.
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