The Lochner Concession Pretended to Be Crown Authority and Cracked the Firm
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The Lochner Concession Pretended to Be Crown Authority and Cracked the Firm
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The Lochner Concession Pretended to Be Crown Authority and Cracked the Firm
In this episode, we trace how a company founded under Queen Victoria used a royal charter to promise fortunes, govern vast territory, and extract concessions-then struggled as its founding claim proved false. What happened when the promise of a second Witwatersrand unraveled and the firm had to renegotiate the empire it had sold?
Person: Cecil Rhodes
Date: 20 December 1889
Location: Mashonaland / Lozi territory
Event: Lochner Concession (1891) and subsequent replacement concessions (1897, 1900)
Status: Company listed as non-active in Companies House, last annual report filed 2011
- A Royal Charter created the British South Africa Company to govern, police, and extract profit over territory larger than Western Europe.
- Directors included a duke, a viscount, financiers backed by Rothschild, Alfred Beit, and Cecil Rhodes, using prestige to open doors in Whitehall and on Threadneedle Street.
- Rhodes and agents promised gold north of the Limpopo-selling investors and settlers a second Witwatersrand that never materialized.
- Agent Frank Lochner obtained mineral rights from King Lewanika by presenting himself as Crown representative, a claim unsanctioned by the Foreign Office.
- The company patched its authority by renegotiating concessions in 1897 and 1900 while settlers and investors waited for the riches that never came.
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