SIR HERCULES ROBINSON,

Waikato Times, Volume XXXII, Issue 2647, 29 June 1889, Page 2 (Supplement)

SIR HERCULES ROBINSON,

Statements have been made that Sir Hercules Robinson had accumulated a fortune in diamond .speculations. The following letter explains the truth : — "Government House, Capetown, 15th January, ISSO. My dear . You may give the most cmphatic contradiction to such office and street rumours as thoso to which you refer. I have never embarked in cither diamond or gold speculations, and have never made one single sixpence. All I have done is this. Some time ago I aliiftod a portion of some money I had in colonial 4 per cents into Da Beer's shares, having reason to think well of the latter as a permanent investment. From first to last I have never sold a share, and consequently have never speculated, and never mado a sixpence. Having bought in when shares were low, my investment has returned me so far nearly 12 per cent, per annum ; and I shall bo well content

witli a continnanco of such a result f

tho future. I think, however, the investment may do even better. As to whether my capital is safe, that is a matter which I shall leave to bo tested by thoso who will come after me. lam satisfied with tho security and intend to hold on it. You must boar in mind diamond mining at Kiinberley has long passed tho speculative and is now a settled industry. The De Beer's Consolidated Minos represent a capital at present market value of nearly £17,500,000 sterling, and pay nearly £1,000,000 a year in dividends. They may bo looked upon pretty much in the saino light as

British railways. There is no possible way in which, in my official capacity, I can favour the industry, and in my view thero is no more harm in putting iny spare capital into it in preference to Government stock than there would bo in a Minister at home investing in 'Great Westerns' in preference to 'Goschens.' When my banker who managed tho investment for mo asked me in whose name he should have the shares registered, I replied as I did to the secretary of the Sydney Turf Club when he asked mo in whose name I would run my horses. ( In my own, of course. If I thought the thing wrong I should not do it at all; but as I don't, I will have no concealment.' As to gold mines, gold shares, gold syndicates and concessions, over which people in London as well as here, seem to simply have gone mad, I have never touched one of them, and I am neither directly nor indirectly interested in anything of the kind. In tho furious scramblo for concession which is taking place, the wildest falsehoods are invented. Ono concession hunter in Namaqualand gives out ho is trying to obtain ono for Lord Knutsford. But no sober sensible person credits such impudent fabrications. You are quite at liberty to give any pnblicity you think desirable to statements.—Yours sincerely, Hercules Robinsox.