Gem-Stones and Their Distinctive CharactersSmith, George Frederick Herbert
Science
Gem-Stones and Their Distinctive Characters
Smith, George Frederick Herbert
Precious stones
brother Henry when engaged in earning his livelihood in the diamond
fields as an entertainer, had secured the major interests in the
Kimberley mine. Rhodes saw that, for effective working of the two
mines by any system of underground working, they must be under one
management, but to all suggestions of amalgamation Barnato remained
deaf, and at last Rhodes determined to secure control of the Kimberley
mine at all costs. The story of the titanic struggle between these
two men forms one of the epics of finance. Eventually, when shares
in the Kimberley mine had been boomed to an extraordinary height,
and the price of diamonds had fallen as low as 18s. a carat, Barnato
gave way, and in July 1889 the Kimberley mine was absorbed by the De
Beers Company on payment of the enormous sum of £5,338,650. Shortly
afterwards they undertook the working of the Dutoitspan and the
Bultfontein mines, and in January 1896 they acquired the Premier or
Wesselton mine. The interests in the Jagersfontein mine were in 1888
united in the New Jagersfontein Mining and Exploration Company, and
the mine is now worked also by the De Beers Company. Thus, until the
development of the new Premier mine in the Transvaal, the De Beers
Company practically controlled the diamond market. The development
of this last mine was begun so recently, and its size is so vast—the
longest diameter being half a mile—that open-cut working is likely to
continue for some years.
[Illustration: _PLATE XXI_
LOADING THE BLUE GROUND ON THE FLOORS, AND PLOUGHING IT OVER]
[Illustration: _PLATE XXII_
WASHING-MACHINES FOR CONCENTRATING THE BLUE GROUND]
Public-domain text, read in full here on John Shaqi.
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