King Lobengula; to form banks; to own, manage and grant or distribute land, and to raise a police force (the British South Africa Police). In return, the company agreed to develop the territory it controlled, to respect existing African laws, to allow free trade within its territory and to respect all religions. Rhodes and the white settlers attracted to the company's territory set their sights for ever more mineral rights and more territorial concessions from the African peoples, establishing their own governments, and introducing laws with little concern or respect for African laws. The BSAC was not able to generate enough profit to pay its shareholders dividends until after it lost direct administrative control over Rhodesia in 1923. Mining BSAC claims Initially, the British South Africa Company claimed mineral rights in both Northern and Southern Rhodesia. During the period of its Charter, the BSAC was not involved in mining directly, but received mineral royalties and held shares in mining companies. Often the main source of income of these companies was not in mining itself but in speculation markets. In Moshanaland, complaints arose at the delay of development of mines in order to fuel speculation profits further. In 1923, the British government agreed that it would take over the administration of both Southern and Northern Rhodesia from BSAC. The Agreement for Southern Rhodesia provided that the company's mineral rights there should be granted protection, and any Bill under which the Southern Rhodesian legislature proposed to alter arrangements for collecting mining revenues or imposing any new tax or duty on minerals would require British government. The same condition applied to any Northern Rhodesian legislation. In 1933, the company sold its mineral exploration rights south of the Zambezi to the Southern Rhodesian government, but retained its rights in Northern Rhodesian mineral rights, as well as its interests in mining, railways, real estate and agriculture across southern Africa. BSAC claimed to own mineral rights over the whole of Northern Rhodesia under one series of concessions granted between 1890 and 1910 by Lewanika covering a poorly defined area of Barotziland-North-Western Rhodesia, and under a second series negotiated by Joseph Thomson and Alfred Sharpe in 1890 and 1891 with local chiefs covering a disputed area of North-Eastern Rhodesia. This claim was accepted by the British Government. After the Charter ended, BSAC joined a group of nine South African and British companies which financed the development of