The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-04-08
AMERICAN METAL
NOW OWNED IN US.
Hayden, Stone Group Buys the
Minority Interest on a
%,850,160 Bid.

The American Metal Company, Ltd.
relations of which with interests con-
neoted with the Metals Gessellschaft OF
Germany brought It to the attention
Of the Allen Property Custodian and
later caused It's seizure by that ofiicial.
passed into American hands yesterday.
Charles Hayden. representing Hayden.
Stone q Co., and about fifteen business
associates obtained minority interest in
the concern after spirited bidding. in
which the securities were run UP from
$50 to s14o q share. The securities Of
fersd were In the form of voting certi-
ficatss. representing total of 34,6A
shares Mr.. Hayden's successful bid
amounted, to s4.s50.16o. He said that
the group. with which he is associated
IN the deal. had purchased the securi-
ties as an investment
The American Metal Company. Ltd.
on. January 20, 1918. delivered to A.
Mitchell Palmer. then Allen Property
Custodian, the holdings Of Its enemy
stockholderA amounting to st.6H
shares. Mr.. Mitchell named I'VE new
directors to represent the stock taken
over by the Government They were
Henry Morgenthau, George McAneny.
Lewis L. Clark. E. G. Converse Of New
York and Andrew w. Mellon OF Pitts
burg.
The company was Incorporated in 1887
a. producers. refiners, exporters import
ers and dealers In metals and chemicals
1t has an authorized capital stock
Of s25.ooo,0 900, of which 100000 Is
outstanding. II controls the Ohio ana
Colorado Smelling and Refining Com
pany, the Bartiesvfllo Zinc Company.
tho Chanqite Spelter Company. the
Metallurgical Company OF America tho
American Zinc and Chemical Company.
the Corpania Minera de Penoles OF
Mexico, the compania de Minerales y
Metals and the Cha Metallurgical de
Torreon OF Mexico.
The sale. conducted In the office OF
Berthoid Hochschild in the companys
quarters at 81 broadway and under
the direction Of Joseph r Guffey d.
rector OF the Bureau of Sales for the
Alien Property Custodian developed
spirited bidding between Mr. Hayden
and Howard McAteer. president OF tho
American Steel Export Company. Mr..
MoAteer offered a bid of $50 for the
stock and this was raised to SIS by
Mr.. Hayden. Bids OF 81, SO ana IS
up were exchanged until II reached sl1l,
when fractional bids wero started.
when the bid Of s125 was made by Mr..
McAteer a whispered consultation was
held by the Hayden Stone group, after
which the bidding was resumed. Nc
Ateer's last bid was s13s. which Mr..
Hayden raised 10 $40, at which the
stock was sold. Previously Mr.. Nc
Ateer had purchased. at the same sale,
$50 shares OF the capital stock of the
Compania de Minerales y Metales for
$4,000
The sale yesterday removes the last
OF the American Metal companys prop
erty from alien enemy hands. Before
the United States entered the war II
was estimated that 81 per cent. of the
stock owned by interests Identified with
the Metale Gesellschaf OF Germany. %
per cent. by German Americana and 26
rer cent. by German citizens of Great
Britain. Several months ago Henry
Bruers visited Switzerland on behalf
OF the minority American interests in
the property to obtain an option on tho
German owned stock. II was said at
the time that that option was obtained
on a basis of s2Oe.75 share.