GREAT DIAMOND FIRM.

Taranaki Daily News, Volume LIV, Issue 226, 22 March 1912, Page 4

GREAT DIAMOND FIRM.

A ROMANTIC ORIGIN. Another chapter in the successful and romantic life of the famous firm of Werhher, Beit and Co. closed with the end of 1911. From January 1 the diamond business of the firm was dissolved by mutual consent. The business will now be carried on under the style of L. Breitmeyer and Co., who have taken ever all the business of the old company. It is believed that the change has been made partly because of the advancing years of Sir Julius Wernher, who desires to reduce his business cares. It will be remembered that about a year ago the bulk of the firm's business and that of the allied Johannesburg undertaking of H. Eckstein and Co. was transferred to the Central Mining and Investment Corporation, while a number of its share assets were taken over by the Rand Mines, Ltd. Sir Julius retains his chairmanship of the Central Mining Corporation—among other important directorships. With the discovery of diamonds at Kimberley in the early 70's, Sir Julius Wernher, then a clerk' in a Continental house, joined hands with a fellow clerk, Alfred Beit, and proceeded to South Africa. With the latter's uncle, a Mr. Forges, negotiations were carried on with the late Cecil Rhodes, which led to the formation of the great diamond monopoly of De Beers. Sir Julius Wernher, it will be remem'bered, was the victim—to the extent of £■00,01)0—of the notorious Lemoine, the Frenchman who alleged that he was the discoverer of the secret of making artificial diamonds.