New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-10-05
AFRICAN MINES.

Kimberley.
mond mining district in Africa is a town contain
ing a. population Of 10000. with tramways' troll
leye theatres. electric lighting. hanson cabs and
all the adjuncts and appointments of a hrst-ciass
CITY. The four great Mines the Kimberley, the
De Peers the BufOnten and the Dutoitspan lie
on the outskirts Of the town and are now united
I'm single property and capitalized at sZooVoVo''
about the amount of the annual output In
,uontv wears II has exported over fifty million
carats Of diamonds or. measured In ruder terms
~ weight about fifteen tons. OF an aggregate
value OF 1915 600 000 The largest stone found since
the mines we're opened weighed in the rough 4zS
carats and was about two inches in length, sur
passlng the Kohinoor in magnitude. It's c'her
qualities being not accurately determinable TIL II
has gone through the hands Of the lapidary. FOR
rnerIv there was great deal OF stealing by native
diggers and dishonest buying by white mer-
chants esstima ted to be equal to one-quarer Oh ,e
entire yield, but now precautions are taken "iic"
rendar such practices nearly impossible. There
are about twelve thousand natives employed In
tho mines under the supervision Of 1900 Euro
noons tho former being domiciled in villages In
closed by high walls. with doors or sheet lroh'
u,,,hin which they are securely !mmured as soon
s their daily labor Is over Only licensed traders
are authorized to purchase or possess rough dia-
monds and the thief and the receiver there nave
had their day. The output OF the mines during
the score OF years since their discovery has peen
tenfold greater than that of all the other dlarhohu
producing regions in the world, and so FAR II SHOWS
no sign OF dmnution. OF course 1t VIII give out
some time and proud Kimberley Will be LETT voice.
Iess and abandoned amid the waste. Hons lar
and couch for the yelping Jackal and roos'ine-
place for the desert ostrich, as II USED 10 De-
The output OF the gold mines recently discoV-
cred is as vast and unprecedented as that OF
diamonds at Kimberley, and 1t Is no wonder
that the speculative excitement awakened by
them in London Paris and some other European
money centres i, of great intensity anu persist
encv exceeding all precedents since the South Sea
bubbles and involving much greater aggregate
Investments than that celebrated scheme. 1t VIII
h,o,, itself ont one Of these days, like spent
African sirocco. leaving a track or RUIN ana
eocks ~ gorged vultures behind II, but In the
moan time II usurps everybody's attention across
Tho water from kings to cOstermongers. draw
ing them all into the speculative whirlpool Which
il sure in no long time to gulf most OF them
down. There is unquestonably an immense
amount OF value, actual and prospective, IN the
mineral deposits OF these African regions, put
not enough to pay interest on tenth part OF
the shares which have been put on the market
and are still coming out in undiminished volume.
\ limited number Of these properties are likely
IN nav good dividends for a considerable per'od
hrt the majority are equally likely TO pay no
d,v,dends at all at any time all the money in
vaste1 in them being hopelessly lost as II
4, were cast into the Mozambique Channel or the
CuIs Of Guinea France flung away s4OOOOoOoO IN
the Panama scheme. Of which she VIII never see
q etiver again but that IS a small amount COM
nared with the sums likely TO be lost by France
and England together In the speculative schemes
NJ South Africa They have not yet made any
onneal TO American investors. and probably VIII
no, 90 thev seem already near the stage Of ex-
n,os,on and collapse. our country is adding
81 OO9 900 per day. or more than $2JOO0oo.ooO per
annum TO It's wealth. according to the computa-
,on Of Mr. Mulhall and that IL great deal more
than Africa Is likely TO turn out from all sources
In 81 like perod for centuries TO come. SILL we
have no boom here but rather general COM
pIaint Of hard times, now happily aDating Eu-
rome and Africa are welcome to all they are likely
70 make I'm their present speculative crusade, ana
when It's books come to be balanced need not be
surprised If they find as heavy score on the
losing side as our unexcting. everyday indus
| tries have recorded on the other When they
have made their loss and footed the bill they VIII
no doubt conduct their mining operations there
| on a wholesome and normal basis. adding an
| important annual increment 10 the gold reserves
of the world perhaps for centuries to come.