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Please note that the content of this book primarily consists of articles available from Wikipedia or other free sources online. Hermann Ludwig Eckstein (3 August 1847 - 16 January 1893) was a South African mining magnate and banker. Born in Hohenheim near Stuttgart, Germany to a Lutheran minister, he received an excellent education. He came to the South African diamond- and goldfields in 1882, and soon acquired a reputation as the resourceful manager of the Phoenix Diamond Mining Company at Du Toit's Pan near Kimberley. He attracted the attention of Julius Wernher and Alfred Beit and in 1884 joined them in the partnership of Jules Porg?'s & Co (later Wernher, Beit & Co). In 1885 Beit arranged for Hermann Eckstein and Jim Taylor, to report on the firm's interests in the Barberton and De Kaap goldfields, in which they had invested heavily. Taylor wrote a gloomy report on the extent and quality of the ore lode that brought Porg?'s hurrying back to South Africa. He and Beit decided to disinvest. The firm suffered a loss, which was trivial compared with what was to follow. The soaring share prices during the boom, were rapidly followed by pessimism, plummeting prices and widespread bankruptcy.

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