The Founding of the British South Africa Company.

In 1889 the various interests were concentrated in one company, and Mr. Rhodes and his associates holding the concession granted by Lo Bengula, took steps for the founding of the British South Africa Company, under Royal Charter, for the purpose of working the mineral and other concessions, of extending railways and telegraphs in the direction of the Zambesi, of encouraging emigration and colonisation, and of promoting trade and commerce. The Imperial Government granted the charter on October 29, 1889, according to the British South Africa Company powers of government in the country lying immediately to the north of British Bechuanaland, to the west and north of the South African Republic, and to the west of the Portuguese dominions. The Charter further provided for a deed of settlement defining the objects of the Company, and containing regulations for the conduct of its affairs, which was completed on February 3, 1891. The names of those to whom it was granted were the Duke of Abercorn, the Duke of Fife, Lord Gifford, Mr. Rhodes, Mr. Beit, Mr. Albert Grey, and Mr. Cawston. The capital; of the company was a million sterling.