ABSTRACT
This chapter talks about the rise and fall of the Karistiansand nickel Company. Under the auspices of the financier J. P. Morgan, the North American nickel companies merged in 1902 into the International Nickel Company (INCO). Hybinette had first-hand knowledge of the Norwegian nickel industry. The Canadian Bank of Commerce was to renew its loan of 2 million Canadian dollars and Norwegian banks were to provide a similar loan with first mortgage security. Evje Nikkelverk was the 'predecessor' to the later nickel refinery in Kristiansand. Morgan had ownership interests in INCO and did not want any competition. The commission concluded that the Norwegian investors in BANC had been misinformed at almost every turn. The Norwegian losses following the downfall of KNR and BANC exceeded 50 million kroner. Norwegian nickel industry it also opened the way for another, namely the arrival and embracing of outside investors.
