The Birmingham age-herald., 1916-03-24
AMERICAN CAPITAL WILL MINE COPPER IN SOUTH AFRICA William B. Thompson Now One of Notable Figures In the Mining World SOME STORIES TOLD
 OF HIS LIBERTIES Schwab's Report On Bethlehem One of Most Interesting Indus
 trial Documents Ever
 Published
By HOLLAND

1 Fly
 New York, March 23.-(Special.)-
 Adolph Lewisohn and William B. Thomp- {, son have been so conspicuously identified with the development of copper, proper | ties in the United States and Mir. Thomp- son is so prominently identified with cop per developments in Alaska that the first question that was asked by many of those who learned that MT. Lewsohn and MT.
 Thompson, with others, have formed a syndicate for the purpose of financing certain properties in South Africa was this: Are there, then, large copper prop critics there?"
 Whatever the mining properties may be which Mr. Lewisohn and Mir. Thompson, with others, contemplate financing in
 South Africa the really important fea- ture of the proposition is regarded by the financial district as the fact that Amer
 ican capital is at last permitted to go into South Africa It has long been
 there, although entirely in an indirect
 form, for the mines of South Africa are
 to a considerable extent operated by
 American mining apparatus.
 A year or two before the war in South
 Africa began, representatives of some or
 the mines in the Rand district visited the
 United States for the purpose of inspect
 ing American mining apparatus and, 1T
 the investigation were satisfactory, buy
 ing such apparatus in large amounts.
 Purchases of this machinery were just
 beginning when the Boer war began, and,
 of course, were suspended until the war
 African
 sentatives were the guests for several
 days of ex-Mayor William R. Grace in New York, and he took them upon V1slt to one of the large manufacturing plants whose product was apparatus used Tn mining. The representatives told Mayor Grace that with perfected mining facln- ties and with the. investment of expected capital in large amounts the output or these mines would astonish the world. They also said that it would be impossible for Americans to make any investments in these properties.
 The report made by these men has since been justified because two years ago South Africa produced nearly $llo,OVooo in gold. There are other minerals, how ever in that vicinity, although the pup lie has not heard of any copper properties there.
 A GREAT EXPORT The brief announcement of the associa- tion of W. B. Thompson with this syndi- cate is likely to bring into prominence cautain of industry. mining expert ana copper authority of whom the pubic mas heard but little. Yet it is probao'e that the name of no man now active in affairs is more frequently upon the lips or men of large affairs, at least in New York, than that of William B. Thompson. Sometimes the estimate is made that his wealth is now so great that he is en- titled to rank with the mu,timllllonalres He is a director of the federal reserve bank of New York and has other bank ing interests. But it has been prlncipally through his successful exploitation or copper properties, not the least among them being copper properties in Alaska, and also his share in the building Of the original Alaska railroad that he now takes high rank among men who are d. recting great enterprises. or hlm, as or many others who in recent years nave been very successful in industries Of various kinds. the public has had little knowledge.
 Occasionally, interesting anecdotes are told of some of his incidental acts, as, for example, he was urged to meet his classmates of the Phillips academy at EX- eter, N. H., at one of the annual gath- erngs. At the time of this meeting ne was occupied with some very important business classmates in which he regretted that he was unable to meet them. adding that the best he could do would be to send them little remembrance in honor Of the old academy. This remembrance was Tn the form of check for $125,OOO Like MT. Lewisohn, MT. Thompson received tech nical instruction at the Columbia School of Mines. From that institution he went i forth to begin a career which is now spoken of by those who know something 1 of it as one of the most successful or all the careers made by men who have l been occupied with the development or mining property
 pla ced by the British government upon 1 the investment of capital in any foreign nation seems to have opened the door for 1 American investment in South Africa The war may also be followed by activity in the large rubber industry of north central Africa in which Thomas F. Ryan is un- derstood to be interested.
 NOT A NEW REASON
 | Buried in the extraordinary report 1 which Charles M. Schwab and his asso- 1 ciates in the Bethlehem Steel corporation have just made, telling the history of the
 business of that corporation in the year ! 1915 are two or three lines which reveal 1 the Charles M. Schwab who was asso ciated with J. P. Morgan and others in 1 the organization of the United States Steel corporation The report explains why it | is that the Bethlehem Steel company or | a subsidiary company has.executed agree
 n,ents by means of which the assets of l the Pennsylvania Steel company and the Maryland Steel company are acquired or l are to be acquired by the Bethlehem com | pany It took only four lines to explain 1 thep urpose of this purchase. The re- port says that the purchase brings to the ] Bethlehem company plants already in op 1 eration which will take the place of those which, for sometime, the management of the Bethlehem company have been plan- ming to construct
 | In other words. what the United States i Steel corporation accomplished when it | took over large number of going con- cerns is now accomplished by the Beth