The Robesonian. [volume] (Lumberton, N.C.) 1870-current, 1897-06-23
carney Barnato browns Himself.

vest coast of Morocco, says thai
On the arrival there to-day of the
British steamship Scott, which
left Table Bay (Cape TOWN. On
June tor Southampton it was an
noun9ed that Barney Barnato, the
South African Diamond King"
whoT's among the passengers, had
committed suicide by leaping over
board His body was recovered.
Barney Barnato was probably
the ricaest man in the world. He
had long been recognized as the
diamond king of South Africa,
and rs wealth vas estimated at
abo]a } 800, 100000. 90! o As the great
Aaatn "Kaffirs" the name Civ
en- to a confusing multiplicity of
South African stocks, he was
known IN all the banking circles
of Europe and America. His ca
reer has been a marvellous one.
Little is known of his early life
but he is believed to have been
d London fakir or street arab, and
once a circus performer.
Three years ago, penniless and
unknown, he appeared in London.
Not long after there sprang up
among spectators and inves-
tors great interest in South Afri-
can mining stocks. Companies
were formed to develop these mines
and European capitalists, big and
little were invited to take stock.
1t was easy to find money backings
for these enterprises. and Barney
Barnato got into the Kaffir swim.
He plunged deep. His natural
daring and cool affrontery stood
him we'll. He won enormously.
Then he branched out indepen-
IDENTIFY and drew about him his
own following, It was another
case of the lucky gambler leading
the way for the unlucky. He or
ganized companies ofioat "Kaf-
frs" /" There were Barnato "com-
panies," Barnato "groups, Bar
nato "shares," but there were new
er any Barnato losses. He made
money even more rapidly than the
great bonanza kings Of California
in the palmiest days of the Argo-
nauts.
ShreWdly he made a conquest
of Sir -Edgar Vincent, Sir Edgar
and Barney became financial bos-
ON friends. Sir Edgar gave the
plunger position which he never
had, in spite of his fortune. Bar
nato had been blackballed at the
London clubs. The rich turf set
cut him, III spite Of his heavy sur
port of races and his fine string Of
horses. Sir Edgar first of all
made sure Barnato and his South
African enterprises were safe.
He went out to South Africa with
Barney as Barney's guest, and was
accompanied by his wife, the
beautiful Lady Helen Dunscombe,
sister of the Duchess of Leinster.
What Sir Edgar saw in Africa con-
vlnced him. He took up Barnato
gave him financial and social pres
tlge, not in London, but in Paris
and by cleuer maneuvering secured
for him the ear of the great Pa
risian financers; and boosted him
forward in Partisan society. Sir
Edgar now shares with him the
title of the "King of the Kaf-
frs
i Barnato's latest coup was the
creation of the "Barnato Bank
Mining, and Estate Corporation
Limited. " 1t needed no prospec-
tus; the mob were only too eager
to tumble over each other getting
ION the inside By the mere
stroke of pen Barnato created
an enormous capital out of moth.
ing.
The trading in the shares of the
the corporation developed one Of
most exciting scenes ever witness
ed on the London market. For s
time there was an almost indie
scribable frenzy, and the shares
were bid more than four times
their face value. They subsidec
later, but the confidence of the
public is well attested by the fac
that they are still quoted at ovel
three times their face value.
The nominal capital of thi.
bank was $12, 100000. The share.
were $5. dollars each, and on th,
,, morning Of their issue there wer,
) 1900 brokers, with orders to bu,
, hundreds and in some cases thou
. sands, Of shares at the market
The capital of the bank is now val
ued at nearly $45, ,0O0,0 At th
last settlement, when there wa
talk about difficulty of carrying