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THE NORTHWARD EXPANSION 413
1887,
which held a large share in Rhodesian Selection Trust, also became a
large shareholder in Bwana M'Kubwa, and a British associate of the same
concern, the Anglo Metal Co., had in 1925 concluded a ten-year sales
agreement with the Bwana company.
It
was, therefore, not altogether surprising that when in 1928 the
formation of the proposed Rhodesian company had got to a more concrete
stage, Edmund Davis should be thinking, so far as American
participation was concerned, of the Guggenheims as possible partners.
This being an Anglo American Corporation affair, contact was
established through the American banking friends of that organization.
But, though the negotiations went on till October, they came to
nothing. Meanwhile, early in September, Leshe Pollak in a letter to
Edmund Davis intimating that he had been asked by Ernest Oppenheimer to
go to London and join in the negotiations which Edmund Davis and J. S.
Wetzlar were conducting jointly (not altogether to the liking of the
former), also made it clear that
we
have at no time contemplated handing over the technical administration
of the mining companies to Guggenheims as a firm. Our view of the
position is that the technical direction of the mining companies should
be vested in the new company but that in the selection of the technical
staff of that company the recommendation of Guggenheims would be very
welcome. Such a procedure would have the great advantage of combining
the special knowledge in copper mining of Guggenheim's men with the
wide mining and general engineering experience of our own staff. It
would also confer the inestimable benefit on the administration of
securing for it our exceptional knowledge of local conditions which
must have a very great influence on the manner in which the mining,
metallurgical, administrative and other problems should be tackled.
Clearly, there is in this letter rather more than a hint that too many concessions might be made in London.
At
this stage, it was intimated that the American Metal Company, already
associated with Bwana M'Kubwa, would like to take a share in the
proposed company, though naturally this desire was not enter-tainable
until the negotiations with the firm of Guggenheim Bros, terminated.
Thereupon, Anglo American Corporation's banking friends were asked
their opinion on certain matters in connexion with this expressed
desire; while being perfectly frank and friendly, they not unnaturally
asked why the Newmont Mining Corporation, which had been connected with
Anglo American Corporation from the very beginning, had not been
approached. This inquiry resulted in the pro-
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