| Show Turn Efforts to Gold GoldAs As Frenzy Grows to Prove Provo Provene r d Expected ne of Worlds World's Largest Larg Larg- r est ost Producers rB Br C. C WILSON Correspondent Press Pre Staff I N nANCISCO Sep Sept 4 ji 4 by the world-wide world frenzy for lor ithe the Philippine Islands this year ICCI to U become one of the worlds world's gold producing areas Investors have turned their Uon from iron sugar the Islands Islands' lead lead- crop crop eroD to gold mining Carl Hass Hassi i lOX T J J. J Wolff officials of two min min- companies in the Philippines said saide today They are here to purIe pur- pur e C Ie iSe thousands thousand of dollars' dollars worth of lIng machinery to be shipped to the ads Press dispatches from Ma- Ma bore out their statements Prices shares haru in the lending leading mining corn corn- its ies boomed upward 10 JO to 20 points week on the Manila mining ex ex- age oe The turnover of shares was wu g us a resident of Manila Manna 34 years ears resident of the Mining De- De which has mining ms as IS near Baguio He predicted mountain province of which Bai Bai Ba- Ba i is i the capital soon will yield e C gold cold than continental United t ts 3 which in 1932 pro produced more 1 i worth aUT LAST YEAR I with only three mines In ration the Philippines produced worth of gold according to toU U U. S. S bureau of mines Jut year ear Ha liars Hass said ed t will be considerably larger this because of the stimulated I he be said wid Th The Mining pany piny Consolidated Min Min- and Goldfields In lag Ing company have acquired addid addiel addi- addi d el capital and are rapidly expand- expand their operations lese IBM three companies own the only re e mines in the islands he said ft f. f who was private secretary to toWe tolate tolate late We President William H. H Taft Tafta a n he was the first governor gene genof genof gen- gen e of the Philippines is treasurer he Goldfields company u ls s here ordering machinery with h the company will begin opera- opera i early next year ith th men mm pointed out that the In- In mining developments have been need I without the aid of American taL All financing has been raised i II l' Islands a my own company Hass HaM said shares bares of stock have been purd pur- pur ed d d and wo will need no further I meing until production is actually it If way wa wait JO L GOLD MART President Roosevelt's Roosevell's modi- modi ion of the gold embargo to per per- producers to obtain the ent market price abroad curly cur cur- ly about 30 30 an ounce Ha Hass pre- pre 4 most of the Philippine would continue to be purchased he be Insular government The ter- ter Vial ial government he said will pay above the 2067 an ounce e fixed by law in order to toa tom a m the gold reserve rC of the peso It d the present time Hass lass said peso puo is Is backed by heavier gold es than the U. U S. S dollar te Ii e three producing mines In the di IdS have had to go only to below the surface to find ore oreg g from 15 to 25 per ton In opinion when the and mines ore are fully lully opened they be two of the largest larlest gold pros pro- pro is s in the world f ding in Shares Increased mILA ANILA Sept 4 UP UP Trading Trading old lid mining shares on the Manila k E exchange and arid among brokers totaled toWed shares week officials of the stock exIle ex- ex lIe Ile announced toda today ie le e turnover in gold stocks was the thet rt t in the history of the ex- ex lie le ze One of the issues sweated has been available to k traders 25 years Prices of all alling ing ine shares have made substantial wees aFes since President Roosevelt's of the gold embargo to sit alt exportation of refined ore S. e I |
