Page 66 Cont’d from pg. 62 conditions for the employees and se - cured their employment. At the same time, the 9,000 share - holders had fared even better . Profts rose from $3.9 million in 1930 to $6 million in 1934. Annual dividends rose from 70 cents per share to $1.40 per share in the same period.” In the period 1932-35, the total work force at Hollinger increased from 2,485 to 2,889. The offcial history of the Dome Mine said: “Gold prices (on the unoffcial market) began to rise slowly in 1933 but it was not until the following Feb - ruary that U.S. President Franklin D. Roosevelt devalued the U.S. dollar , and the offcial price of gold jumped from $20.67 to $35 an ounce. This acted as a great stimulu s to the Canadian gold mining industry , par - ticularly in Ontario and Quebec.” In 1935, the Dome was 25 years old and its work force was 790. In 1938, Dome reported a proft of $4.7 million and was able to split its capital stock on a two-for -one basis. The other producers in the First Gold - en Era were the Broulan Reef (1915- 65), Coniarum/Carim (1913-18, 1928-61), Crown (1913-21), Paymas - ter (1915-19, 1922-66), and V ipond (191 1-41). There were numerous others that opened for a year or two or three but rarely recovered their development costs. The Second Golden Era saw these 10 operations added: Aunor (Pamour #3) (1940-84), Bonetal (1941-51), Brou - lan Porcupine (1939-53), DeSantis (1933, 39-42, 61-64), Fuller (V edron) (1940-44), Hallnor (Pamour #2) (1938-68, 81), Hoyle-Falconbridge (1941-44, 46-49), Moneta (1938-43), Pamour #1 (1936-99), Porcupine Lake (Hunter) (1937-40, 44). An Ontario government authorized book on mining deserves the fnal word on the ef fect of the price in - crease: “In the whole story of gold mining, nothing has approached the feat of President Roosevelt when on the 31st day of January 1934 he touched with his fairy wand the price of gold, and raised it from $20.67 per fne ounce to $35 (ef fective Feb. 1). The ef fect has been little less than magical. Thousands of millions of tons of worthless rock have been raised to the status of workable ore. It has lengthened the life of the mines and of the communities dependent upon them. It has increased employment of labour and given the workers better wages. It has established towns and cities where formerl y there was only wil - derness. It has provided our farmers with wider and better markets for their products. In short, every department of human activity has been stimulated to put into practice Carlyle’ s famous advice to business ‘T o Produce!!’.” Hallnor Mine opened in 1938 after gold price took huge jump in 1934 Pr ofts of mining companies soar ed after gold price incr ease “The Porcupine Camp” 100 Y ears of Mining Page 64