In late 1948, Thompson
established the Thai Silk Company Limited. It was important
to him that the controlling interest in the company
was held by Thai nationals. When the company was incorporated,
selling 500 shares at $50 each raised an initial registered
capital of $25,000. Out of the shares sold, 51% were
owned by Thai citizens and the remaining 49% owned by
foreigners. By 1967, the company's turnover was approximately
$ 1.5 million.
In 1949, Charles Baskerville,
a friend of Thompson's brother and a famous painter
from New York was among Thompson's guests visiting in
Bangkok. Baskerville had a wide circle of prominent
friends and clients many of whom were international
celebrities including Diana Vreeland, a fashion editor.
When he left Thailand, Baskerville carried a large supply