St. Tammany farmer. [volume] (Covington, La.) 1874-current, 1896-05-09

THE SOUTH AFRICA COMPANY.

THE SOUTH AFRICA COMPANY.
Nearly An Of neltain's Royal Family Have
1sds Aoaey Out oe II.
While there are some who allege
that, owing to its aristocratic compost
tion, the chartered company Of South
Africa. of which Mr.. Cecil Rhodes is
the presiding deity. will never forfeit
its charter in spite # the inconceivable
act Of aggression n2on the Transvaal
republic by its officers and admins
traitors, there are Others Of . more
cynical turn of mind and acquainted
with the financial circumstances Of the
company, who claim that the forfeiture
Of the charter would be the happiest
thing that could possibly happen to
the company, and that DR.. Jameson's
raid across the British border was
undertaken with the express purpose
of bringing about that event. There
is TO doubt that the company for some
time has been in . very bad way hnan-
cially, that it finds itself unable to full
fill it's promises and pay to its stock
holders dividends ON the shares which
the present holders have purchased Mt
enormous premiums from the noble
founders of the enterprise.
If the company wezc to 60 into liqui-
dation by ordinary bankruptcy, due
t. the failure to fulfill it's undertake
ings, there would be q terrible row in
London. one which might affect even
the stability of the throne. since 1t
would be found that not only members
of the aristociacy but even of the reign
ing house have realized vast sums OF
money by the sale of shares in the con-
Germ at huge premiums to the present
unfortunate holders, most of whom
will be ruined. The natural disposi-
tion of people under such circum-
stances is to allege fraud, and, unfortu-
nately. there has been much in connec-
zion with the enterprise that appears
exceedingly fishy, to say the least.
Now, a forfeiture of the charter would
practically relieve the company of much
Of the odium with which it would other
wise be saddled in The event of failure.
and the blame of the latter could be
lai1 to q great extent upon the govern
mcnt, the directors of the company
claiming that they could easily have
fulfilled all their engagements had not
the British government stepped in and
ruined the concern by repeating its
charter.
This is the only plausible excuse for
the otherwise absolutely insane freak
Of DR.. jameson, one rf the most clever.
level-headed and brilliant of lieuten-
aats of Mr.. Cecil Rhodes-in one word,
a man possessing all the traditional
shrewdness of the Scotchman coupled
with the spirit of adventure of the
Erglishman. He is just the kind of man
ready to sacrifice himself to cover the
retreat-the financial retreat-0f his
associates and friends.
The founders of the company are,
first and foremost. Cecil Rhodes, q
member of the queens privy council
anj prime minister of Cape Colony.
next in importance to his principal
partner in the concern being the duke
of Fife, son-in-law Of the prince of
Wales, and the one of all the members
Of the Britieh NOBILITY to whom the
queen has shown the greatest degree
Of favor. Then there is the duke of
Abercorn, chief Of the prince OF Wales
household. the leader of the conserve
tive party in Ireland and brother of
lady Blanford, mother of the duke of
S0 ri
Gray, son of that Gen. Gray who
was SO many years private secretary to
the queen and the prince cons0rt and
governor of the prince of Wales before
the latter attained mis- majority.
twill be seen from these names that
the social and political Importance of
tho leading spirits in the South Africa
company are such that neither Lord
Salisbury nor Mr.. Joseph Chamberlain,
the secretary of state for the colonies,
would dare to take upon themselves the
responsibility of annulling the charter
save with the consent and approval Of
the two dukes. the earl and the privy
councillor and colonial premier chiefly
interested in the affair.
Let it be added that there il hardly
member of the royal family. from the
prince of Wales down to Prince Henry
Of Battenberg, who has not made money
out of the concern and held shares in
It, and the same may be said of the
principal members Of the royal house
hold and society. the grand send-of
which Cecil Rhodes company received
being in a great measure due to the
discrimination which he displayed in
ajlotting founders shares only to those
who, either through their social or Of
fetal influence, coulsl promote the in
forests Of the concern. Most Of them.
however, have been clever enough to
unload their holdings when the shares
were at the highest notch.-Chicago
Record.