366 REPORT ON COOPERATION IN AMERICAN EXPORT TRADE.

As the sphere of business interests of the “Merton concern” exsanded
 into other countries outside of Germany, England, and the
United States, the following additional holding companies were
organized: The Compagnie des Minerais, Liége (capital 2,500,000
francs) ; the Société auxiliaire des Mines, Paris (capital 5,000,000
francs) ; and the Compafiia de Minerales y Metales, Mexico. Tosether
 with the French banks, Cahen d’Anvers,' the Société générale
pour favoriser le dévéloppement du Commerce et de Vindustrie en
France, and other capitalistic groups, the Société des Cuivres et
Pyrites, Paris (capital 30,000,000 francs), was organized in 1907 for
promoting the development of three Spanish copper companies, the
Jan Platon, the San Miguel, and the Pena Copper Co.?
Two subsidiary companies of the Metallgesellschaft and of Henry
R. Merton &amp; Co. are the African Metal Co. and the Australian Metal
Co., of London and Melbourne, respectively. They attend to the
~rurchase and sale of metals in their respective parts of the world in
hehalf of the two parent concerns.
In 1906, the Berg- und Metallbank A. G., located at Frankfurt, was
srganized, with a capital of 40,000,000 marks. This holding comany
 was founded by the Metallgesellschaft, together with the Metallurgische
 Gesellschaft, the Deutsche Gold- und Silberscheideanstalt,®
the Darmstidter Bank! the Berliner Handelsgesellschaft, the Diskontogesellschaft,'
 and several. private bankers of Frankfurt. From
one-quarter to one-third of the capital in the principal undertakings
of the ‘‘Merton concern’ was turned over to the Berg- und Metallbank.
 In 1910 the Berg- und Metallbank A. G., was consolidated
with the Metallurgische Gesellschaft into the Metallbank und Metallurgische
 Gesellschaft A. G., Frankfurt a. M., with a capital of
10,000,000 marks.
A chart showing the principal interrelationships of the various
zompanies in the group which center in the Metallgesellschaft and
the Metallbank und Metallurgische Gesellschaft has been prepared
by the Commission, and is inserted in this volume (opposite p. 366).
A preliminary chart was first prepared from information derived
from a large number of published sources, chief among which were
the article by Prof. Robert Liefmann in the Weltwirtschaftliches
Archiv for January, 1913, various articles in the National Review
London), the Mining and Engineering Review (Melbourne), and
other periodicals. The preliminary chart was then submitted for
sriticism to a number of Americans who are well informed in regard
to the international metal situation and are acquainted with the
organization, operation, and control of the companies shown on the
1 Not shown separately on chart. oo
IR. Lisfmann, in Weltwirtschaftliches Archiv for January, 1913.
1 For a descrintion of the Deutsche Gold- und Silbsrscheideanstalt see p. 368.