African Chartered Company.
London, April 23. Messrs Cecil Rhodes and Maguire were elected to the directorate of the British South Africa Chartered Co., but withdrew from election.
At the meeting of shareholders Mr Rhodes stated that when Rhodesia was placed under a system of autonomy, the money which had been spent in developing the resources of the country would become debentures, but he expressed the opinion that within fifteen months revenue and expenditure would balance and that in time the shareholders would obtain ample returns for all the Transvaal troubles. Because Englishmen had been treated like slaves they would never stop until their rights were conceded.
It was proposed that a guarantee be obtained from the British Government for a loan of £2,000,000 to construct a railway from Bulawayo to Lake Tanganyika. This line would give British control of Africa. The speech was received with great cheering. The meeting adopted a resolution authorising the increase of the capital of the Company to five millions.
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Bibliographic details
Opunake Times, Volume VIII, Issue 378, 26 April 1898, Page 2
Word Count
164African Chartered Company. Opunake Times, Volume VIII, Issue 378, 26 April 1898, Page 2
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