Show AMERICAN SMELTERS securities DISSOLVED the stockholders of the american smelters shelters Sm elters securities company met on the in jersey city and voted to dissolve the company the number of shares of stock voted for dissolution was which represented more than four fifths of any classes of stock outstanding and more than nine tenths of the total number of outstanding shares according to simon guggenheim president of the american smelting smelling Sm elting refining all of the common stock and 89 per cent of the A and B preferred stock of the securities had been acquired by the smelting smelling sm elting company and its ownership of such a large majority of the stock made unnecessary the further continuance of the securities company as a separate corporation through the dissolution a saving to the smelting smelling sm elting company of approximately annually in taxes and other expenses will be effected the smelters shelters Sm elters securities company was organized in 1905 by an arrangement under which the company secured for the american smelting smelling Sm elting and refining company the control of important mines and financing fin financing ancin 9 conducted through gh the securities company enabled the smelting smelling sm elting company to acquire smelters shelters sm elters in washington california and utah for the development of its copper producing business gradually the american smelting smelling Sm elting and refining co company in increased its holdings in the stock securities company compan y obtaining all of the common stock and all but shares or 11 per cent of the outstanding A and B preferred stock of the securities company the outstanding A and B stock of the securities company still in the hands of the public is entitled to be paid par plus accrued dividend to the date of dissolution fixed as of february 1 1923 |