The National tribune., 1892-01-07

the banket formation, which has since proved
/ the distinctive feature OF these fields. and
which is indeed an "almond rock i" for the
country, as the Dutch word banket signifies.
The credit of having discovered the main
! reef cOnglomerate, or banket, is due 10 an Eng
lish mason who was working on the dwelling
! house OF a farmer named OOsthuigen. The
mason on a Sunday morning went for a stroll
! 70 the rise Of an adjoining hill aud observing
a curious knob cropping out Of the ground,
knocked OF some of the pebbles and the in
closed baked formation in which the pebbles
were incrusted. and which together formed the
almonds" He took these TO the farm house,
and crushed the mass. It was gold bearing.
lt was not for another II months, however,
that this country was officially recognized rs a
gold field. Nothing much was done until two
Kimberly men came around who had money.
One Of these meu was so fortunate as 10 pur-
chase 0osthuigen's property, called the Lang
laayte farm, which has since proved 20 be the
richest portion Of the field.
At this time the gold fields at Barbert0n were
in the zenith Of the unfortunate popularity,
and many sanguine prospectors and spectators
in passing the Randi on their way TO Barberton
and komati, thought they We're passing golden
district that would soon have a great reputa-
ticn.
Among other capitalists that looked forward
10 success i'm the gold fields were Messrs. Rhodes
and Rudd, tho present managing directors of
the British South African Company, who are
making history so fast in Mashonaland and
Manica.
The Hon. Cecil Rhodes. the energetic head OF
the chartered company and Premier Of the
Cape Colony, is the moving spirit Of the most
mOney-prOducing mines ia the world. those of
the DE Beers diamond in Kimberly, with their
annual output Of four TO four and half
millions sterling.
q fg e Al,
numerous syndicates that were formed, Of how
unknown people became, of a sudden. experts,
assaycrs, and mill managers; how hundred of
thousands sterling money was spent for digging
trenches which have since been filled in: how
ships Stewards who had been To Melbourne or
San Francisco posed as mine managers or mine
Captains; or how man who had been driving
a steam saw-mill in Natal suddenly blossomed
forth as a mining expert Of the field, and how
IL was necessary 10 get his report before one
could hope 10 establish a company. The prop
erty that this timber sawyer declined contained
many ounces 10 the ton, and was abandoned
as not paying.
Such peculiarities as these are not unknown
in other fields. What was unique on these gold
fields was the fact that the gold fever caught
on IN European circles, aud money was invest
ed on the strength of opinions expressed by
haberdasheTs, tObacconists, counter-jumpeTs
and people of all kinds. who knew as much
about gold mining rs they did OF the supposed
minerals and vegetables i'm the planet Mars.
IL was possibly on account Of tho European
public knowing that there had been no pre-
viOus mining in South Africa, except in the
diamond fields in Kimberly and in the copper
mines on the west coast i'm the country Of the
Namaquas, that they were 50 readily duped !;
for, Of course, it is well known that when an
American or an Australian mining prospectus
is placed before an English public il at once
says: Now, why do not the cute Yankees or
Australians take IL up themselves, If IL is all
that the fancy Of its promoters claim 10 30 be 2"
Now, the individual public had not that feel.
ing about the kaiiir mines, as they are nick
named, 50 they went " nap" on South African
mines upon the nero prospectus, which con-
tanned more lies than any Californian promoter
would dare use, for he knows that the fabulous
returns that can be obtained from assays would
never be believed.
This was not so with the new.hedged Di-
rectors aud Secretaries. who would have be-
lieved the ore 10 contain more ounces 10 tho
ton than it possibly could if it had been pure
gold.
lt was not until the month OF June, 1897 that
the shares Of the johannesburg mines created
any notice away from the town itself, but they
rapidly gained attention, aud in the succeeding
months they attracted public interest not only
in South Africa but in England.
In November Of the same year there were
about 20 gold mining companies. with a nomi-
nal capital Of 100000. aud by January, 1890
the number had increased 10 nearly 800, with
capital of G22 100000. while now the number
Of companies are rapidly falling away, and
will not probably exceed 300. The noininsl
shares do not exceed GiOOO,OOO, while the divi.
dcnds declared do not prove the whole field 10
be worth more than E3OOO,O00.
Although the poor shareholder has done
nothing, as a rule, but lose his money, and pos
sibly 70 gain the experience that all is not
gold that gitters" South Africa is certainly tho
gamer by the quarter Of million Of gold that
the TransVaal fields are now turning out
monthly. The native races receive the most
benefit, as the larger part Of the labor in the
mines Is carried on by the natives, who come
from all parts Of South Africa, but chiefly from
the Northern Transyaal, Zululand, and Basu-
toland. Ii. Il. HARRISON.