Together with M.J. O'Brien, he also invested in The Dominion Nickel-Copper Company (owner of the Murray Mine) in order to create a potential competitor to International Nickel. It was subsequently sold to Frederick Stark Pearson, William Mackenzie and Donald Mann and became the British America Nickel Corporation, in which Booth was a director. In 1921, Booth was induced to vote in favour of a bondholders' reorganization scheme through the promised issue of $2,000,000 of British American stock. The reorganization was later held by the Ontario courts as not binding on the minority bondholders, and the ruling was upheld by the Judicial Committee of the Privy Council in a decision that has influenced corporate jurisprudence throughout the British Commonwealth. After Inco drove British American into bankruptcy in 1924 by aggressively cutting the price of nickel, it later acquired British American's assets.