New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-09
By S. ROY WEAVER

Toronto. July s.-The cabled an
nouncement from Christiania, Norway
that the big Kristianssands Nickel re-
fining Company has become a partner
in an enterprise involving more thah
$40 600 900 to be launched in CANADA
has brought under review the plans OF
the British America Nickel Corpora
ton, Limited. Operations OF the cor
poration up to the present have Deeh
carried on with q minimum OF pup
icity. but work has been IN progress
for several months on the site OF
great smelling and refining plant IN
the Sudbury District Of Northern
Ontario. A machine shop and ware
house are already completed. Coh-
struction work on the smelter and re-
finery proper is only awaiting the out
come of projected arrangements Tor
an abundant supply Of electric power
Up to week ago the company was
planning to start with plant costing
50, 900 900 or 100000, but the dis
covery at the main mine Of FIVE mill
ion tons Of nickel ore in excess OF the
engineers estimate is likely to result
in a revision of the corporations pro-
eramme and the erection Of much
larger plant than has been contem-
plated heretofore. When the plant is
completed, the works and properties
of the company will represent an in
vestment of between sl2,0O0,OOO and
$4,000 900. Within two years time
the officers of the corporation expect
to be producing 5000 tons Of refined
nickel yearly.
Britain Controls Enterprise
The new enterprise is absolutely
controlled by the British government.
Mr.. Alan Anderson, Public Trustee for
Great Britain, holds Sl4,500,000 OF the
$50 900 900 of issued capital stock OF
the corporation, and also one-half OF
the S6,000,000 issue of first mortgage
bonds. Norwegian interests, including
the Kristianssands Company, own ST.
600 900 stock, and the remainder is
held in Canada, mostly by Toronto
CAPITALISTS. The total bond and stock
liability at present is S29,5OO.OOO.
Under long-term contract, the
British government will purchase the
product of the corporation to the limit
OF its requirements. Any surplus VIII
be sold under strict control of the i'm
perial authorities. The International
Nickel Company, which now supplies
large part of the needs of the British
government, will lose this market com
pletely. according to the statement OF
f. p. Mathewson, general manager OF
the British America Nickel Corpora
ton.
The operations of the new company
will be unique in the history of the
nickel industry Of Canada, because the
mining. smelling and refining OF It's
ore will all be conducted within the
Sudbury district. The plant VIII be
located only four and hall miles
northwest of the town of Sudbury ana
close 10 the most important mine IN
the possession of the company EXclu
sive rights for Canada and the United
States 10 the Hybinette electrolytc
process of refining, which is USED IN
Norway and controlled by the KITS
t;anssands Company, have been pur-
chased By the Hybinette treatment
tho ore will be smelted to an 80 per
cent matte. which will then be refined
by the electrolytic method.
An Industrial Romance
The story Of the promotion of the
british America Nickel Corporation
and its subsequent progress is an in
teresting industrial romance. The late
DR.. F. s. Pearson, the well known
financier Of New York and London, was
chiefly responsible for the undertak-
ing. AS long ago as September, 1872,
he and his colleagues obtained an
option on all the Ontario properties
and assets of the Dominion Nickel
Copper Company. Exploration work,
in the course Of which nearly 100000
was spent in diamond drilling, resulted
in the discovery of extensive new ore
bodies, and the option was taken up
under the name of Pacific Securities,
Limited. y.
Experts engaged to investigate the
Hybinette electrolytic process at the
Kristianssands Observation-Disclosures,
in Norway, found that the system could
be employed efficiently in the treatment
of Sudbury ores. Accordingly, exclu
sive rights for North America and as
far south as Panama in the patents
were acquired by DR.. Pearson's office
company. Under the Hybinette process
there is no emission of obnoxious gases
or foul liquors. and it is possible that
at later date the provincial govern
ment may insist upon the electrolytic
treatment of all ores refined in Ontario.
Undertaking Delayed.
The British America Nickel Corpora
tion, Limited, was incorporated in Can