Header
Latest News
Home / Historical / TODAY IN KIMBERLEY’S HISTORY 18 JULY
Amphibic Design - Websites - Graphibic Design
PT-De_Beers_Consolidated_Mines_Directors-1890
De Beers Consolidated Mines Directors

TODAY IN KIMBERLEY’S HISTORY 18 JULY

Want create site? Find Free WordPress Themes and plugins.

18 July 1873, SA cricketer Bertie Powell born.
18 July 1878, The Thompson family attacked by Galeshewe at Cornforth Hill.
18 July 1889, De Beers Consolidated Mines pays Barney Barnato £5 338 650.00 for his Kimberley Mine and assets.

PT-De_Beers_Consolidated_Mine_Cheque-1890

De Beers Consolidated Mines Cheque

DID YOU KNOW

Cecil Rhodes had laid his projected plan for amalgamation of the mines before Messrs Rothschild (of London), in 1887, and discussed it with Lord Rothschild and Carl Meyer, of N.M. Rothschild and Sons, both of whom were suitably impressed.

Together with Alfred Beit, representing Jules Porges and Company (later Wernher, Beit and Company), the finance for the scheme was raised and Rhodes began buying as many shares in the Kimberley Mine that he could. It would be this seemingly limitless supply of money that would prove the difference between Barnato and Rhodes. Undoubtedly Alfred Beit played a major role in firstly, raising the necessary finance, and secondly, having the wisdom and foresight to interpret Rhodes’ plans.

The struggle between Rhodes and Barnato to form the De Beers Consolidated Mines was not without problems, and legal difficulties in the formation forced Barnato to liquidate his business, the Kimberley Central Diamond Mining Company, and on 18 July 1889 a then unprecedented sum of £5 338 650 was paid for the Kimberley Mine. (This is equivalent to more than R5 Billion in today’s monetary value.)

The cheque is signed by Charles Nind and George Compton, both Directors of the De Beers Company, as well as by the company secretary, WH Craven.

That same month De Beers had also acquired controlling interests in the Bultfontein and Dutoitspan Mines. With the consolidation Gardner Williams, the General Manager, put a comprehensive mining system into place on all four mines.

Pictured are the DBCM cheque as well as the De Beers Consolidated Mines Directors in 1890. The signatories on the cheque are WH Craven (standing, second left), Charles Nind (sitting, second left) and George Compton (sitting, extreme right).

From Kimberley Calls and Recalls on Facebook By Steve Lunderstedt

Did you find apk for android? You can find new Free Android Games and apps.
Aeon Computer Kimberley

About Steve Lunderstedt

x

Check Also

PT-Kimberley_Club_after_1895_fire

TODAY IN KIMBERLEY’S HISTORY 11 OCTOBER

Want create site? Find Free WordPress Themes and plugins.11 October 1895, The ...

PT-Masonic_Temple-1888

TODAY IN KIMBERLEY’S HISTORY 10 OCTOBER

Want create site? Find Free WordPress Themes and plugins.10 October 1873, Cecil ...