Wealth of the World's Waste Places and OceaniaGilson, Jewett C. (Jewett Castello)
Science
Wealth of the World's Waste Places and Oceania
Gilson, Jewett C. (Jewett Castello)
Oceania -- Economic conditions; Waste lands
When still greater depth had been reached and much of the rim wall had
been precipitated into the pit and rain and seepage water had made the
pits mud holes, two remarkable persons who were interested in the mines
took a leading part in solving the difficulties. These persons were
Cecil John Rhodes and Barnett Isaacs, better known as "Barney Barnato."
Rhodes owned stock in the De Beers and Barnato in the Kimberley mine. At
first they were sharp rivals in gaining control, but later they got
together and consolidated interests.
Cecil Rhodes was an English college student. He had lost his health and
had come to South Africa at the invitation of his brother, who was
interested in the diamond mines. Roughly dressed, his clothes covered
with dust, this shy, pale student, week in and week out, might be seen
looking after the Kafirs who worked his brother's claim.
Barney Barnato, a young Hebrew of keen foresight, likewise had a brother
in South Africa. The latter, who was engaged in diamond buying, urged
Barney to come at once to this famous region, setting forth the
wonderful opportunities offered for business. Barnato forthwith packed
his few belongings and took the next steamer for Cape Town. He was only
twenty years old and was bubbling over with good-natured energy; but he
was quick to perceive and quick to act.
Although he had but a few dollars with which to start in business, yet
by indomitable energy and shrewd management he soon acquired sufficient
money to buy a few small claims in the famous Kimberley mine. To these
claims he constantly added others until he became one of the leading
stockholders in the mine.
When the rival mines began to undersell each other and diamonds were
being sold for but little more than the cost of production, Rhodes
conceived the plan of consolidating all the mines, thereby forming a
monopoly to keep up the prices. By masterly skill he brought this
about, purchasing some shares outright, and giving shares in the new
company as payment for others. To make the purchases he negotiated a
loan of several million dollars through the Rothschilds, the famous
bankers of London.
[Illustration: Open workings of the diamond mine, Kimberley]
Thus, after many years of struggle through difficulties that were
seemingly superhuman, the four great mines, the De Beers, Kimberley,
Dutoitspan, and Bultfontein, were merged into one great corporation.
Afterward some others were added, but all bear the name De Beers
Consolidated Mines, Limited, a corporation which to-day controls the
diamond market of the world. During the eleven years ending 1899 they
yielded nearly six tons of diamonds.
Public-domain text, read in full here on John Shaqi.
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