1951-12-27 — Page 4

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THE

£80 MILLION GOLD RUSH -AND NOT A PENNY BACK

By Bernard Harris

STARTLING fall in daalsrus, had hit gold Helena was to deliver the goods.

the

newer

On the first day of dealings gamblers tumbled over them- selves to pay £5 7. 61. for its 10s shares.

South and hit it rich,

Richer in African gold shares is

fact, than making a dent in one of the gold had ever been struck world's biggest fortunes before in South Africa.

From nearly a mile down £40,000,000 on genial 71- year-old Randlord Sir the drill brought up a core Ernest Oppenheimer.

18 ins. long and no thicker "Oppie,"

garden huse

owned by the

in

That put a value of about a mine which at that stage was no more than a patch of ground punctured with borehole;

Water had to be piped from the Vaal River A ailway had to be built 23 males to the nearest main the

Thrie were houses

who started than a business in Kimberley which specks of gold were nearly 50 years ago, is the seen. When the sample was world's diamond king, the assayed. it Was leading figure in the gold shown to mines of the Rand, and con- gold troller of much of the phenomenal rich- THE BIGGEST be sunk copper which comes out of ness of 624 028. LOSER?

Rhodesia.

And he has the biggest stake in the world's newest goldfield in the Orange Free State, 200 miles south of the fabulous Rand.

contain at the

to the ton - in money £530 for each ton of rock.

Many mines on the Rand make from ore nearly profits

02. or with 4

field even less of gold

In five years £80,000,000 has been put up to open up this and so far not a penny has come back.

to the ton.

Orange Free

So it was no wonder that the

Millions have been wiped State

the hailed off share values since

should be

IS HE

SIR EBNEST OPPENHEIMER

to be built fo the workers Two shafts 10 the plant

reef. And

built to crush the

rek

an extract its 送ります。

Th ground, as the

mining men say.

pove to be badly

faultet, Water

often Rondei the shafts. A gas explo- also delayed the

ston

work

So

it has taken more than five years and nearly £8,000,- 000 in cash to bring St

Helena 10 the production stage.

And now sbork for the inves

who thought thot at long last

tors as poten- a dent in hu fortune.

richest

what

boom in the spring of tially the 1946, when news blazed goldfield in the world-and their reward was in sight

St Helena reports that its first

have month's operations

pro- round the world that a drill that gamblers everywhere put down by an Oppen- hoped to make money from duced to a profit but a loss of

£35,000, heimer company on the it. Geduld farm, near the shanty

of town

Oden-

REALITIES OF RUSSIAN POWER-No.

This is the second of a series of specially com- articles. missioned

is Richard Chancellor the pseudonym of an outstanding naval AU- thority who surveys Russia's ohjectively potentiality for war at sea. Last Monday Lt Gen. Sir Brian Horrocks dealt with the Red Army, and tomorrow the concluding article will examine the Red Air Force.

ORD NELSON, when planning naval action

The

2

The

Role Of Soviet Navy

By Richard Chancellor

side the present Soviet area

The adoption by the Russians of mental processes of Teuton and

of smaller Slov. of control would be essen- a 12-gun broadside tial to the proper

Russia

calibre in their latest cruisers,

The Free State was TO

place for the old-style gold Still more disturbing [oy rush. There was no for shareholders Is the news that tunes to be won by the more money will have to be pick-and-shovel prospector poured into developing the mine

where the gold at eady sper. in a field reef's lav a mile or beneath the surface.

more

to the in addition

£8,000,000

The shares so eagerly sought on that May morning in 1946 al £5 and over have flopped back And the mining rights in any case had already come under the to the lowest price ever-£1.

South of powerful control

Welkom, second

Free of the African financiers as an insur State mines to reach production, ance against falling output from is faring no better.

the older mines in the Transvaal. It has lost £64,000 in its first

So Odendaalsrus produced EX

month. And its shares have more gold rush of a new sort than halved in value.

Eleven

on the

frenzied rush to buy shares in

more mines uny company, however obscuss, Pree State field kr2 getting which owned rights to dig gold towards the production stage.

in the Free State.

are costing a

Like St. Helena and Welkom, they money.

k

deploy which mount four triple turrets, As regards the second ques-Geduld strike sharebrokers in really starts to flow out.

seapower can, perhaps, be traced to the tion, the

experience

of

shore

The

WORJE

are now

mining

experts have of comfort for them "New mines often make a loss

mint

Many more millions will have For three nights after the 10 be spent before the gold

ment of Russian

Thousands of small investors co- Johannesburg and Cape Town on orthodox lines.

They were trying who got in at the time of the impression created by the guns operating British officers showed got no sleep.

up with

boom the fantastic Odendaalerus of H.M.S. Kenya during the clearly enough the limitations to cutch

- Modern

nursing uncomfortably large buying during the day. her combined Anglo-Russian bom- wh

of Soviet staff and Commanding In London £20,000,000 was losses. immraze 1..nd mass, huge bardment of Vardo in Novem-

Officers during the last war. added to the value of Free State standing artny. and relatively ber, 1941.

All short stretch of populated coast-

U-boat shares in two days. the accumulated

available to experience

Five weeks later excitement

LED agsin when line, is essentially a land Power, REAL POTENTIAL them is unlikely to make these bubbled

St during the running-in stage," League used to ex- and her development and use of

C.0.8 mitch more conadent Helena Gold Mines was formed they any

is perhaps Alling to open up the first of the mines press his opinion of the naval forces is permanently

when out of sight of land, or fighting qualities of his affected by the predominantly TN destroyers,

All the pre- Geduld, the name of the farm lu impose on a race of incorrigi. on the new held. ble landsraen the

the first principle vious companies had been con- which started the bonanza, is the principal and numerically military outlook cf her national

have developed, and are that the business of a sailor le cerned only with prospecting. St Afrikaans word for "patience." most formidable opponent leaders. The Soviet Union

has continuing

build,

to sea and stay there. in the phrase: "Close with a Combined Genera Staff. at orthodox hard-hitting type Individual bravery is still no ¿¡ Frenchman. but out whose headquarters in Moscow which owes much to pre-war substitute for the submarine- manoeuvre a Russian." there is a persistent tendency Italian design and which now sense of a Wanklyn or a Prien.

against the Baltic

from this

to

the

Russians

fast

tu

Their 70

can

now

[L

PARKING?

that

DRAG

THEM OUT

lo consider surface naval forces incorporates many lessons learnt And staff-work, never a Russian

as mobile gun-platforms, to be

strong-point, must improve im He implied a weakness in

before the second measurably employed primarily in the flank from the Germans. the technique uf sea- support of purely military odd large Soviet-built destroyers question conceivably be

10 break are supported by six ex-German answered in the affirmative. warfare, set off by qualities operati: ns, of personal courage

and free

LD and ex-Italian ships of similar perversion of the proper use of seapower have

In size.

accordance with But, when all has been said, which is prob- been hindered by the closely endurance,

tradition, all

Soviet it is the number of Soviet sub- ably as true of the Soviet centralised politicial supervision Russian

marines that sticks in the mind, and destroyers

and it would be a brave man Navy today as it was of the of the Navy, which is a legacy cruisers

who would discount them, re- Emperor Paul's fleet of 150 from the anti-Bolshevik muthy atted for minelaying.

membering the 60 U-boats THE fantastic city available to Germany in 1939.

years

ago. Certainly, in their efforts to create a Russian naval tradition, the Soviet propagandists can

history,

at Kronstadt in 1921.

EXPANSION.

are

But it is in under-water craft that the real naval potential of the Soviet Union is to be found: In

Hey

and

New

From R. M. MacCOLL

che

of

£150

NEW YORK. and room. Vassar,

best-known girls' of America's York is quickly schools, puts on another a year, making it £715. funtastic

FIRST they had a colossal land boom in Florida.

approaching &

super-

Next they had a monumental

te-encroached on the fading stucco homes and bedraggled slump, during which the jungle

Coal and oil supplying firms luxury beneath the palms. That are having such a maddening was between the wars. time of it trying to find places

weapons, more particularly on April 11 this year, Vis- in mines, the Soviet Navy has crisis. find little in their naval IN 1937 a great expansion of count Hall, then First Lord of benefited very greatly from the

The traffic problem is old stuff, Germany, and Saviez naval foress took place the Admiralty estimated the occupation of save cheap vie-

all you say? Ah, but listen to the Soviet strength at about 360 Russie has

disposal m face of resurgent Germany, tories against the Ottoman which warranted the separation submarines. This fleet includes Turks, to set against the of the

People's Commissariat a few operational ex-German the necessary information for sort of thing that is going on

producing the types of mine "In now, use by the Germans up to 1948, debacle of Tsushima and for the Navy from that of the U-boats of the latest types.

of

including the magnetic subsequent naval ineffec. Red Army. Within a space

Russians were two years the

Of these, potentially the most acoustic varieties. tiveness in two world wars.

increase their able to

naval dangerous is the interim Ger- strength by 200 Soviet-buut man Type XXI with its "Snort," cubmarines. As result of the its long cruising range, and its minor role played by the Navy high under-water speed of 16 wever, knots. War experience showed to the war of 1941-45, however, that Soviet submarines were of HE training of a Soviet naval jacks and cranes, and coolly faises eyebrows at the news that and of the great prestige gained und during this period by the

LAND POWER

nor

construction

IMPONDERABLES

stable, Nowadays Florida la a for their huge delivery lorries to park in the choked streets that thriving place where an awlut they regularly send their own lot of money changes hands. "breakdown trucks" lo

along with

the

lorries, equipped with power-

ful proceed

which have challenged the gained from

resulted in the creation of a NO SUBSTITUTE ment inflicted on the admiral they complain, their trucks often

supremacy of Great Britain Ministry of the Navy, now

con

build

But even flamboyant Florida

VHEN the navy of

and per- officer is hardly such as to

to drag away private two of the Vanderbilts, William. him but without frills, give

the qualities of cars already parked at the an ex-governor of Rhode Island major Power is known Army and Air Force, its inde formance.

have bought 35,000 acres, at £7 to possess neither modern pendence was again lost when a and there is little doubt that initiative and flexiblilty of mind kerbside to make room for their State, and his brother Alfred.

aircraft- Ministry of the Armed Forces they will benefit greatly trom which are essential in the true lorries.

The higher battleships

an acre, near Punta Gorda, For was set up in 1940, Four years the German technical experience fighting seaman.

tends increasingly They openly concede that this this is by far the biggest real carriers, it must, from the later a determined attempt to made available to them since command

be filled by political place-is entirely illegal, but add that estate deal since those far off outset, be considered some create a new ccean-going Fleet, 1945.

can boom daya. men of the Soviet regime, and only by drastic measures what differently from those using material id experience

the savage sentence of imprison- they make delivery. Otherwise, the

AT CHAPPAQUA, a well-to- suburb of New who once made a joke to his have to return to the warehouse do dormitory

41 British colleague about

two and three times with full York, there la a tahr on the loose, but not a jolly one... For in the past. Geography and again separated from the Soviet climate, furthermore, have Ministry of War.

THE

THE lessons of 1837 to 1939 cur common enemy, the Soviet loads after futile journeys.

Ministry of Foreign Affairs," is The proportion of such wasted the tahr is a himalayan gost, and 18 described. local police as

by combined to restrict the

are that Rusaja of Apoilt from light forces

mano like a "porcu- ย

wildcat, effective deployment of Rus- the orthodox types required submarines of standard types at breadth of outlook the rage trips is estimated in the fuel and having

pina's, fighting like a Meanwhile the authorities are and smelling like a stockyard.” becessors, sin's naval strength since for mine-sweeping, coastal pro- great speed and in large quanti of in his suc-fumlure trades at 14 percent.

questions The naval ty early times: apart from the ection, etc. by

powers, the Soviet Navy cons answered are: "Can she man The Soviet Navy is mumerical trying to push through a new Every time someone corners, the handicap of ice, two of the aste of cruisers, destroyers and them?" and it so "Can shely formidable, but the in-regulation that would make it tahr it escapes again before the main Soviet fleets are con- submarines. The USSR, has, operate them with eficiency ponderabler which would govern esl to park on more than local zoo cay manage to collect. A MUCH MORE APPEALING fined to the Baltic and in addition, acquired a sizable comparable to that of the efficiency when unsupported York Harrower than 10ft. (aer

the

Baby allied" naval experience Black Seas by narrow

friend is Karla, from Oak Park, The first answer such a to cart a heavy, shadowge width of a New York street: example of our four footed tes, though, a very of doubt on Its potentiellement : 34{t.);

pur-

Ilinoja, straita controlled by coun

THE costs go bounding up. trlea friendly to the West, which now number more than large proportion of these men forrnance in war. And, as regsvis at least

No. 1 The Labour Depart Karla is the oldest seeing gre entering the Soviet in surface forORE, there

that many who will echo Nelson's days ended November 20 food is 18, which puts her, in humani der other reuereas the Fient lay prices rose 1.3 percent to a new terms, somewhere la the 90%. And the ly hi hotibrary copiain entrance to the Baltic

to the US. Artoy, and folde Sovint sub in 1801) 6 much the better,

mercantite' marlo.

Soviet-bulit

Bli

cruisers,

German U-boats in

to

NoImprovement of the dozen, and 'sis being-built at will 'not': have," "seen the set the threat of BUTEDETE are ment announces that in the 11 dog now, on active service, She

widely spread canal and stondy rate, are of a fast while before

armed

river systems within the u

and the

OF

nd type hitherto mounting ECT

Boviet Union is likely to equipped with the contro compensate for this grave and other

rader

Show marine crows dose not hold with there were twice Na Yale University ups "doctorate of canine intallene

thow who many The falled the victory is 24 £70 a year, New figures from the Chiound a ponta

geographical disadvantage, mi un by the Bayal Navy të mush

and the use of ports für dute wards the end of the left was bawa,