Word: metallbank
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Dates: during 1920-1929
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...recovered by one Richard Merton, chairman of the board of the Metallbank and president of the Metallgesellschaft, two German Corporations, both allegedly† (TIME, Sept. 13) the original stockholders of the original 49% of seized American Metal Co. stock. He was in addition a stockholder of the Société Suisse pour Valeurs de Metaux. Hence the Government alleges that the Societe Suisse at the time of the claim was but a holding company for the Merton family interests, that that family retained majority control in it, and that through its recovery of the Merton equity...
...December, 1920, a representative of the Swiss company wrote an attorney in New York that it had acquired the control of the Metallbank and the Metallgesellschaft in the fall of 1919 and therefore it was entitled to the $7,000,000 held by the Alien Property Custodian...
Strictly speaking, the crime alleged in this indictment was a post-War affair but it grew out of War measures. Stock of the American Metals Co., property of the Metallgesellschaft and the Metallbank of Frankfort-am-Main, was seized as alien property by the Government soon after the U. S. entered the War. Some $7,000,000 was derived from the sale of these shares. In 1921, this amount in cash and Liberty bonds was turned over to the Société Suisse pour Valeurs de Meteaux, of Basle...
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