Capital and Labor in South Africa

Abstract

Applying the severe test to the 64 gold mines producing in 1906, we find that the dividends paid by 39 of the companies…represented a gross return for that year of 19.04 percent upon all the cash capital which from the earliest days has been put into the whole of the 64 mines, and 29.84 percent upon the capital put in the mines which paid these dividends. - Report of the (Transvaal) Mining Industry Commission, 1907-1908

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