£100,000 DIAMOND.

Taranaki Daily News, 17 January 1920, Page 9

£IOO,OOO DIAMOND.

REPORTED DISCOVERY OF FLAWLESS GEM. The intense interest at one time directed to South African mining shares was recalled by an incident recently related in a London paper. The Premier (Transvaal) Diamond Mining Company declared a final dividend of 000 per cent., making 850 per cent, for the year. The effect of the announcement was greatly accentuated by the report that a huge diamond of the first order had bsen discovered.

| This is stated to be a blue-white brilliant weighing some 1500 carats, and as it is stated that it is without a flaw, its value is put roughly at £IOO,OOO. Whether this discovery account: partly for the increased dividend it is difficult to'say at the moment, but in all probability the hoard would not Anticipate tile realisation of such a stone. It may be recomembered that, in 1905 the Cullinan diamond was found on the same property. It weighed 3032 carats, but owing to flaws it had to be- cut into more than one brilliant, and the largest of -these is now included amongst the Crown jewels of the Empire. If the new discovery is really without flaw it may constitute n larger brilliant than the largest left from the cutting of the Cullinan diamond.

The other incident of special interest is the announcement that the wellknown firm of Barnato Bros., of Austin Friars, has been registered as a private limited company, with a nominal capital of £5,000,000. Mr. S. 11. Joel and Mr. J. B. Joel will carry oil the business as heretofore as life governing directors. Barnato Brothers weer prominent in the Kaffir boom, and the "two -Messrs. Joel, as is well known, are th{ nephews e' *Jie original Barnato Bros.