A lot of the 'conglomerate' was sent on to Kimberley to be analysed, and a thoughtful observer of the analysis there came to the conclusion that there must be more good stuff where that came from. So he mounted his horse and rode over to Barberton, where he caught a 'coach' which dropped him on the Rand, as it is now called. There he quietly acquired the Langlaagte farm for a few thousands, which the people on the spot thought was sheer madness on his part. But his name was J. B. Robinson, and he is now known in the 'Kaffir Circus' and elsewhere as one of the 'Gold Kings' of Africa. He gradually purchased other farms, and in a year or two floated the well-known Langlaagte Company with a capital of £450,000, to acquire what had cost him in all about £20,000. In five years this company turned out gold to the value of a million, and paid dividends to the amount of £330,000. The Robinson Company, formed a little later to acquire and work some other lots, in five years produced gold to the value of one and a half million, and paid to its shareholders some £570,000 in dividends. With these discoveries and successful enterprises the name and fame of 'the Rand' were established, and for years the district became the happy hunting-ground of the financiers and company promoters. The Rand, or Witwatersrandt, is the topmost plateau of the High Veldt of the Transvaal, at the watershed of the Limpopo and the Vaal; and on the summit of the plateau is the gold-city of Johannesburg, some five thousand seven hundred feet above the sea. Soon the principal feature in Johannesburg was the Stock Exchange, and the main occupation of the inhabitants was the buying and selling of shares in mining companies, many of them bogus, at fabulous prices. The inevitable reaction came, until once resplendent 'brokers' could hardly raise the price of a 'drink;' though, to be sure, drinks and everything else cost a small fortune. To-day the city is the centre of a great mining industry, and the roar of the 'stamps' is heard all round it, night and day. From a haunt of gamblers and 'wild-catters,' it has grown into a comparatively sedate town of industry, commerce, and finance, and the gold-fever which maddened its populace has been transferred (not wholly, perhaps) to London and Paris. The Stock Exchange of Johannesburg sprang into existence in 1887, and before the end of that year some sixty-eight mining companies were on its list, with an aggregate nominal capital of £3,000,000. During the 1895 'boom' in the market for mining shares in London and Paris, the market value of the shares of the group of South African companies was in the aggregate over £300,000,000! It is true that these are not all gold-mining shares, but the great majority are of companies either for or in connection with gold-mining. In 1887 the Transvaal produced only about 25,000 ounces of gold; in 1894 the output was 2,024,159 ounces; in 1895 it was 2,277,633 ounces.