A FIVE; MILLION DEAL

Dominion, Volume 13, Issue 76, 23 December 1919, Page 8

A FIVE; MILLION DEAL

FOOTBALLER TO MILLIONAIRE.' It was officially announced in October (reports the "Daily News") that Mr. John Slater, of John Sinter (London), Limited. had acquired from Mr. Clarence C. Hatry, managing director of the Commercial Bank of London, Limited, tho controlling interest in Amalgamated Industrials, Limited. This deal involves in alt a sum of .£5,000,000. Amalgamated Industrials will retain the full controlling interest of all the ordinary shares of its present main assets, including the Clyde Shipbuilding. Engineering Company, Limited, tho hematite pig-iron and coal by-products business of William Whifwoll and Co., Limited, and the cotton mills of the North End Spinniug Company, Limited, of Bolton The company will become substantially interested in the following important undertakings: tho two large shipbuilding yards of Murdoch and Murray. Limited, and Ferguson Brothers, on the Clvde; the new Hadon Collieries, the Berry Kill Collieries, the business of• steam trawler owners and fish merchant."'- of lCelsall Bros, and Beeching, Limited, besides a controlling interest in the International Merino Insurance Company and the City Life Insurance Company. Limited, n= well as Mr. Slater's own firm of John Slater (London), Limited, which owns a large number of shipping lines. - Professional Footballer to Millionaire. Behind the story of this five million deal lies the romance of a professional footballer's sudden riso to fame as a millionaire. Mr. Slater—Jack Slater, as ho was familiarly known in the football worldwon renown throughout tho country several years ago as a full-back for Bolton Wanderers. But be was, also known— lr.nve particularly in the North—as a keen and accomplished all-round sportsnan. Be was a fair cricketer, making his mark as a bowler. It was as a footballer, however, that he was best known. A few trials as a reserve man in the famous Bolton team, and he speedily won his way into the First League team, and moved a safe and formidable full-back.

But "Jack" Slater had also commercial, ambitions, and these havo now culminated in his taking over from Mr. C. C. lliitry. managing director of tho Commercial Bank of London, tho controlling interest, in Amalgamated Industries, Ltd. —a deal vhich involves many important firms. His intention is to increase the i capital from ,£3,000,000 to ,£5,000,000 in order to morse his own interests in the concern. Tho ex-footballer is still- a young mannot yot out of his thirties. He began as a junior iu a Bolton colliery office, mid at the ago of twenty was head of .the coal business of Messrs. Adam Bromley and Sons Since then he has acquired interests in scores of industries, ranging from cotton spinning to deep-sea trawling. "Ever since. I went into business,". he says, "I made up my mind that the right and successful thing was to control an undertaking which comprised the commete business circle. The great circle of undertakings, to my mind, is this: Coal, iron, steel, shipbuilding, ship-owning, coal exporting, timber exporting, and mercantile insurance. Wo do all that now. Every stage of the circle is under our control. I believe, too, in one man holding nil Hie strings in his own hand. "One other stage is necessary to make the business circle final nntl complete— tanking. That will come: I intend to get ttmt.'' ".Tack" Slater now employs over 20.0(1!) people. He lives very simnlv in his house in Lyndlmrsfc Road, Hampstead. "I believe." be says, "in putting money from dividends back into the business rather than making a splash." I