From
an early date in 1930, tentative discussions were taking place
concerning the possible re-amalgamation of the R.C.B.C. company and its
subsidiary, the N'Changa company. On 13 March 1930 J. S. Wetzlar was
writing to Leslie Pollak:
I
agree with all you say in this matter [i.e. a possible amalgamation]
and, if it had to be dealt with by Rhoanglo and Rio Tinto alone, there
would be no need for any manoeuvring. [The position of Minerals
Separation had also to be considered.] From a general point of view not
much harm would be done if the status quo were maintained for
the time being; but, as regards the financial side, which cannot be
ignored even at this early stage, this would be facilitated by an
amalgamation in some form or other. As boreholes in N'Changa on the
extension of the new discovery areas into their terrain go down, the
position of N'Changa will presumably improve and it seems to me that
R.C.B.C. should deal now, which would incidentally lighten its
financial burden, because in the nature of things R.C.B.C. will have to
make itself responsible for N'Changa's financial requirements. With the
expected continuance of good results at the two areas in R.C.B.C. it is
easy to visualize the necessity of having to provide a good many
millions quite independently of N'Changa.
A little later on, on 27 March, Wetzlar was cabling to Ernest Oppcn-heimer:
Just
had all round satisfactory interview with Sir Auckland Geddes. With
regard to R.C.B.C. and N'Changa we decided to leave matter in abeyance
until we know results Mr. L. A. Pollak's trip to Northern Rhodesia and
until your arrival over here. With regard to general policy Sir
Auckland Geddes agrees his interests and ours identical sole aim being
make investment profitable. Regarding organization Sir Auckland Geddes
stated object must be to take advantage of all talent already existing
and was in every way friendly. . . .
At this stage, it appears that the idea of an amalgamation was dropped: on 8 April Leshe Pollak was writing to Wetzlar:
I
am rather relieved to learn that the R.C.B.C.-N'Changa scheme has been
dropped, if only temporarily. As a matter of fact I think it would be a
good thing if it were never revived, because obviously N'Changa would
demand and probably get more than it is entitled to. Anybody claiming
unduly favourable terms for N'Changa can surely only do so because they
are very heavily interested in N'Changa. It cannot possibly be in the
R.C.B.C.'s interest to make a big sacrifice considering everything
points to their ore body adjoining N'Changa being immeasurably more
valuable than the N'Changa body, and this without any allowance being
made for the other possibilities throughout the concession area.
