DE BEERS DIAMOND MINES.

Te Aroha News, Volume XXVI, Issue 43071, 21 March 1907, Page 4

DE BEERS DIAMOND MINES.

A South African correspondent,. under date Johannesburg, January 12th, gives the following synopsis of the working® of the De Blaersi Company for last year:—The company made a net profit of £2,103,536, against £l,865,335 for the previous year, an in-j crease of £238,201 ,a,nd after paying, dividends amounting to £1,800,000, they carried forward £916,057, Coming to icontingent liabilities, the chairman said they raised £500,000 for the Klerksdorp Fourteen Streams Railway 1 and £750,000 for the Cape Explosive i Works at Somerset West. Ten years ago the company’s investments amounted to £423,611. They now stood at £1,670,958, an increase" of £1,247,347, mainly on account of the two Concerns he had mentioned, which were colonial industries,, employing a very largo number of men, and from which both the Cape and the Transvaal would derive benefit. The railway promised to be a most remunerar tive undertaking, judging from the first six months’ returns, but a fair return had not vet been received from the Capa Elxplosives. The cost of obtaining native labour had increased. In its -haulage of ground the company did 1 work representing 4’o per cent, of the work done by the whole of the Rand gold companies. He expected that their tailings would be worth millions of money in time, and he was pleased to say that scientific ma-nage*-ment had almost reduced to a minimum the -risk of mud-rushes, of which there were none during the last year. Comparing the number of men employed! in 1896 with those at present, the chairman said that in 1896 they had 1371 whites and 669 Kaffirs, whereas now they had 3734 whites and l 22,259 Kaffirs. They paid in wages and salaries per month in 1896 £9276, whilst t-hlis year thie amount wa5 1 1£179,860 locally. Ini 1896 a sum of £105,000 was spent! amongst merchants and storekeepers bv the company, as against £2850,00 in 1906. In railage alone the "company paid in 1896 £9,8,450, and in 1906 £367,100, almost fourfold. The coal consumed in 1896 was worth- £82,780, but in 1906 it was worth £258,700. Other 1 figures also showed the enormous growth) of the company’s operations, and indicated the important bearing the operations of De Beers had upon the trade, commerce and revenue of the Cape.