New-York tribune., 1901-04-09
SMELLING FIGHT SETTLED.
ABSORPTION OF GUGGENHEIM PROP
ERTIES ACCOMPLISHED.
STANDARD OIL TO BE CLOSE To The M"
CONCERN-THE CAPITAL STOCK
INCREASED.

The absorption of the great smelling inter-
ests of NJ. GuggenheiTn's Sons by the American
Smelling and Refining Company which was
arranged last December but was subsequently
blocked by court injunctions, has at last oeen
accom- 1fshed This statement of the settle
ment of the trouble and the suspension OF the
litigation began by interests of the Smelling
and Refining Company antagonistic to the COM
bination. issued last mig, :.
There was protracted meeting yesterday at
the office of Samuel Untermyer, which was CON
tinued at DemOnico's last night. The meetlns
had reference to the litigation between th9
American SmeltinS and Refining Company anu
the Standard Oil Company, represented py II,
II. Rogers and Leonard LeWisohn, over the
merging OF the NJ Guggenhcim's Sons plants
The differences were finally settled and the in
terests Of the Standard oil Company are now
closely allied with those of the American Smeit,
ing ana Refining Company, while the United
Metals Selling Company became the sellhS
aEentS for the consolidated company.
The injunction against the purchase OF the
GuSSenheim plants which was issued by the
Court of Errors Of New Jersey has been re-
moved and the suit dismissed. The certificate
Increasing the capital stock of the company to
SlNOOOOOO was filed with the Secretary of
State at Trenton last night.
In order to avoid any further complications,
the new stock was Immediately issued and de-
hvered to the GugEenheims; and they have con-
Veyed their properties to the company. so that
the amalgamation is now complete There were
H22No in revenue stamps required for the stock
certificates and almos; half that amount to
stamp the deeds
The directors of the smelling company in
January recommended to the stockholders that
the capital stock be increased from $50 100000
to SlOO'WO0O. most of the stock to be
devoted tc the purpose of acquiring the Guggen-
helm properties, which include plants at Perth
Amboy, n j.; Pueblo Col Aguas Calientes and
Monterey, Mexico, and mining and smelling in
terests in South America. On February II.
II. II. Rogers and Leonard Lewisohn resigned
as directors OF the smelling company, and five
days later when the stockholders met in spe-
cial session to ratify the increase Of capital
from taking a vote. Since then the litigation has
been dragging along until now the smelling
company has receded from its original intention
not TO continue to employ the United Metals
Selling Company with which Messrs. Rogers
and Lewisohn are both connected. to act as
selling agent for It's products.
The filing OF the certificate of increase in Tren-
ton after the handing down Of the de-
the suit 10 restrain the purchase of the Guggen-
helm properties caused some comment last night
1t was supposed that notice OF discontinuance
had been fled with the courts clerk.
While nearly every other stock on the list sold
or yesterday. the American Smelling issues
made notable advances. The common 10
6J and closed at 63. net gain of 1 points for
the day. and the preferred reached 30 the close
96. being 214 points above Thursdays last price.