Edwardian 18 carat gold picture frame marked for London 1904, surmounted with seventy-five pave-set, old cut diamonds in platinum forming the initials ‘VEA’ for Veronica Evelyn Albu (1902-1970) containing a portrait miniature of her, aged two by Alfred Clark- the back inscribed: ‘CLARK. 33. NEW BOND ST.’
Dimensions: 10.5 cm high by 9.2 cm wide by 5 cm extended.
Weight: 160 grams gross.
Veronica Evelyn Albu, (14 October 1902- 27 May 1970) was the daughter of Adelaide Burton and Leopold Albu. They married on the 19th of August 1901 and Veronica was born the following year. Leopold Albu (10 March 1861- 19 March 1938) was a gold magnate and Randlord. Born in Berlin, Germany he arrived in South Africa in 1875 and went to Kimberley in 1876 where he was joined by his brother George. They set up a business called Albu Bros, Produce Dealers. Alongside this they became licensed diamond brokers and invested in diamond claims at Dutoitspan, Bultfontein and Jagersfontein eventually selling out to De Beers at a substantial profit. In 1884 Leopold moved to Barberton where he and George invested in several mining companies, and he became a stockbroker on the Barberton Stock Exchange. In 1887 he moved to Johannesburg and with his brother George, founded the General Mining and Finance Corporation in 1895. They controlled several gold mines including the Meyer and Charlton Gold mine on the outskirts of Johannesburg which was the original source of their wealth. By 1910, the company had seven mines under its management, including Van Ryn Gold Mines Estate, and West Rand Consolidated Mines. In 1912 his brother George Albu was created 1st Baronet Albu of Johannesburg. In the 1960s General Mining and Finance Corporation merged with Federale Mynbou and Union Corporation which in turn became Gencor, then Billiton and finally BHP Billiton.
As one of the Randlords, the term coined by the British press, Leopold & George were part of the distinct group of men who controlled the gold mines on the Witwatersrand in the Transvaal which were to become the richest such mines in the world. These included amongst others Lionel Phillips, Barney Barnato, Alfred Beit, Julius Charles Wernher and Cecil John Rhodes. Many of them lived in London and lived lavish lifestyles buying properties and possessions that symbolized wealth and power. While George Albu bought the Herbert Baker designed Parktown mansion, Northwards in 1911, it seems Leopold and Adelaide were resident in London. There he purchased the latest motor cars, including a Pullman Limousine by Barker in 1912 and paintings by top artists of the day including ‘Cymon and Iphigenia’ by Lord Frederic Leighton. This beautiful portrait miniature, a watercolor on ivory, of his daughter set in gold and surmounted with diamonds was a fitting tribute and one can only wonder if the gold and diamonds originated from his mines in South Africa.