THE DIAMOND INDUSTRY AT KIMBERLEY. 457 



carats of diamonds, realizing by sale over 3,500,000, produced by 

 washing some 2,700,000 loads of blue ground. Each load represents 

 three quarters of a ton, and costs in extracting about 8s. 10e. per 

 load, realizing a profit of 20s. to 30s. per carat sold. The annual 

 amount of money paid away in interest and dividends exceeds 

 1,300,000. The dividends might have been much larger, but the 



Classified for Shipment at Kimberley. 



policy of the present board of directors appears to be to restrict 

 the production of diamonds to the quantity the world can easily 

 absorb, to maintain the price of the diamonds at a fair level from 

 28s. to 32s. per carat, and, in order the better to carry out this 

 policy, to accumulate a very large cash reserve. I believe that the 

 reserve already accumulated amounts to nearly 1,000,000, and 

 that this amount is to be doubled in the course of the next year 

 or two, when the board will feel that they have occupied for their 

 shareholders a position unassailable by any of the changes and 

 chances of commerce. In the working of the mine there are em- 

 ployed about 1,300 Europeans and 5,700 natives. The wages paid 

 range high, and figures concerning them may interest the English 

 artisan. Mechanics and engine-drivers receive from 6 to 7 per 

 week, miners from 5 to 6, guards and tally-men from 4 to 5 ; 

 natives in the underground works are paid from 4s. to 5s. per day. 

 In the work on the " floors/' which is all surface work, overseers 

 receive from 3 12s. to 4 2s., machine-men and assorters from 5 

 to 6, and ordinary native laborers from 17s. Qd. to 21s. per week. 

 In addition, every employe* on the " floors " has a percentage on 

 the value of diamonds found by himself, the white employe's re- 



