RAND AND CROWN MINES RESULTS.
Rand Mines, which is the opposite number in Johannesburg to Central Mining and Investment Corporation in London, also shows a very satisfactory profit. Working profit for the year was L960,578, a decrease of £2,000. Dividends amounting to i6o per cent. have again been paid and the balance carried forward is reduced by £44,574 to £564,606. The profit on realisation of investments naturally showed a sharper decline (Continued on page 611.) FINANCIAL NOTES
(Continued from page 61o.)
falling by £66,212 to £271,092. This sum, together with £154,654 from the year's profit, has been added to the invest- ment reserve. The investment portfolio has been increased by £433,438 to £4,347,547, and the aggregate market value of the holdings largely exceeds this amount. The operating companies of the Central Mining-Rand Mines group milled dur- ing the year 18,590,000 tons of ore, an increase of 458,500 tons. But the average yield declined by 0.087 dwt. per ton to 4.104 dwt., while the working costs rose by id. per ton. The Rand Mines report announced that the operations of Crown Mines continued to give satisfactory results. Dividends of 190 per cent. were again paid by this company, and the net profit of £3,166,730 was only £55,952 less than the record figure established in 1936.
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