The Wallace miner. [volume] (Wallace, Idaho) 1907-current, 1919-04-24
.HAYDON.STONE COMPANY
BUYS AMERICAN METAL
SYNDICATE OF BROKERS TAKES
OVER STOCK IN FORMER
GERMAN COMPANY.

metal COMPANY, herman -OWfleu,
which was seized and sold by the
alien property custodian, has been
bought by syndicate represented by
Chas. Hayden for $40 per share,
to almost s5,000,000. Local
interest in the transaction Is due to
the fact that the American Metal
was a large holder Of Inter-
state Callahan stock, which 1t was
forced to relinquish and turn back to
the company after becoming involved
with the government in consideration
OF being released from its contract to
purchase the zinc product of the In
terstate Callahan mine. The pur-
chase of the American Metal company
stock by Mr.. Hayden Is told in the
following from the Anaconda Stand
ard, also a brief history of the COM
pany through which German interests
exercised a powerful influence in the
metal production of the world:
Competition Runs Up Price.
Reports from New York are to the
effect that American brokerage houses
are arranging to absorb the capital
shares of the German owned metal
dealing houses which were taken over
by Alien Property Custodian Palmer
since the beginning of the war. Re-
Gently almost so per cent of the out
standing capitalization of the Ameri-
can Metal company was sold to Chas
Hayden of the brokerage house Of
Hayden Stone and company, repre-
senting himself and a group of asso-
ciates, the price being s140 per share.
There was one other bidder In the
person of H. w. McAteer, likewise
representing a syndicate. The trans
action will involve the payment by
the Hayden group of $4,S50,16 for
voting trust certificates representing
S4,644 shares outstanding.
The sale was held under the aus
pieces of the alien property custodian,
metal firms which had had German
affiliations One of these will be Ii
quidated, another, with government
representatives on the board, will con-
tinue in business, while the govern
ment shares Of the American Metal
company were offered for sale at pub
lie auction.
Bidding for these shares started at
$50, the initial bid being entered by
Mr.. McAteer, and the price was run
up to $40 by Mr.. Hayden's alternate
bidding
Prior. to this sale there was Offered
| 562 shares out of $4,000 shares of the
Companis de Minerales y Metales,
Mexican corporation controlled by thu
American Metals company. The blocl
was secured by Mr.. McAteer for $57,
900, the price being run up from $2S,
co. the first bid. The requirement o
this block of stock by the Haydel
syndicate probably represents the d
c. Jacking interests, which include
the Butte Superior zinc production.
History Of Concern.
The American Metal company wa
a direct offspring of the Germa
Metalgesellschaft which, up to tn
beginning of the war, was the larges
metal dealing concern in the world.
was stock corporation with a cap
italization of 100000 marks. Thi
great concern was the outgrowth Q
the metal business founded by Phil
Abram Cohn late in the eighteent
century. In the early COS Of the las
century, Henry Merton, whose rec
name was Moses and who was relate
to Philip Abram Cohn, founded
metal firm in London which later be
came the powerful house Of Henry /
Merton and Company, Ltd. The Met
) algesellschaft and the Merton fri
worked hand in hand for the advance
) ment of the German domination of tn
metal markets of the world. Abot
1887 Metalgesellschaft sent to tn
United States two of it's representa-
tives, Jacob Langeloth and Bethel
3 Hochschild, to establish a branch
! the business for the parent concer
Y At that time the present banking fir
= of Ladenberg, Thallman & Co. we
S doing a metal business and had COZ
= nections with the Metalgesellschai
= An arrangement was made resultir
Y in the organization of a corporate
called the American Metal Co., Lt'
q wit ha capital Of 100000 divided IL
a to 1000 shares, to which corporate
Ladenberg, Thallman & Co. turn
over their metal department. II
= stock of this new concern was he
as follows.
9 Metallgesellschaft, 600 shares; He
= ry r. Merton, sos shares; Ladenbei
= Thallman & Co., TO shares.
The balance of the stock was
lotted to the various officers.
'I After the passage Of the tradi
"a with the enemy act in October, 10
lie the alien property custodian caus
lie investigations to be made of the A
e. erican Metal company, Vogelstein
r Co., and Beer, Sondheimer & Co., al
Us result of which he took over the
tire business Of the two latter and
ed per cent of the stock Of the Amerit
M o~J ~ fhio 40