290 THE DIAMOND MINES OF SOUTH AFRICA
buyer
on his own account. In the year 1882 he joined the firm of Jules Porges
& Co., as their representative in South Africa, and became a
partner in the firm in 1886.
In
1889 Mr. Porges retired from the firm, which was reformed as Wernher,
Beit & Co., Mr. Max Michaelis joining the firm. Mr. Michaelis came
to the Fields in 1878, and went into partnership with Mr. S. Neumann.
He organized the Cape Diamond Mining Company in Kimberley mine. In 1880
he entered into an arrangement with Jules Porges & Co. to carry on
his diamond business on joint account with them, which arrangement
remained in force until Mr. Porges retired, when he became a partner in
the new firm. Mr. Michaelis assisted in bringing about the fusion of
several of the large claim-holders in the Kimberley mine, such as
Baring-Gould & Atkins, and Baring-Gould, Price & Tracy, with
the Kimberley Central Company.
The
great initiative and business capabilities of Mr. Beit were heartily
recognized by Rhodes, and he was very largely instrumental in building
up the diamond-mining industries, and bringing the dreams of Rhodes
into practical shape and on business lines.
At
a special general meeting of the shareholders of the De Beers Mining
Company Limited, held at Kimberley on the 31st of March, 1888, for the
purpose of considering f and confirming an agreement entered into
between the j respective
