On Tuesday Mr. Rhodes addressed the Chartered Company's shareholders at
the Cannon Street Hotel. The most impor- tant thing in a somewhat rambling, but very charaeteristic, speech, was the declaration that it had at last been proved that not only was Rhodesia a highly mineralised country, but that it contained gold in paying quantities. "I have no doubt," said Mr. Rhodes, "Of the future of the country as a; gold-producing State, and I say these words knowing the full responsibility of my statement." He had always- before refused to say more than that the country was highly mineralised, but now spoke after careful thought, and his former reticence, he insisted, added greatly to the weight of his present declaration. The crushings of some of the mines now at work showed (allowance being made for the use of the cyanide process) an average of 181 dwt. to the ton. But in the case of the Randt the product was only 985 dwt. per. ton. Of course, this does not show that all the Rhodesian mines will yield at this rate, or, again, that the profit will be greater than on the Randt, for the mining expenses may be so much greater, but it is difficult to believe that Mr. Rhodes would have committed himself to statements so strong unless there was paying gold in Rhodesia. The rest of Mr. Rhodes's speech was taken up with an account of his dealings with the German Emperor, and an exposition of his railway and telegraph schemes. He boasts that he has raised some 210,000,000 in the last few weeks, and this though he has rejected the limited guarantee offered him by the Government.
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