AMERICAN SMELTING AND REFINING COM PANY, THE, was first organized in 1899 as a consolidation of companies engaged in the business of custom lead smelting and refining. In 1902 a further consolidation was made with the in terests of the Messrs. Guggenheim, who thereaf ter were in execu tive charge of the company. Under their administration the com pany went largely into custom copper smelting and refining and later into custom zinc smelting. It also became an important miner of non-ferrous metals.
The company in 1935 operated lead, silver, copper and zinc mines in the United States, British Columbia, Mexico, Newfound land, Bolivia, Australia, West Africa and Peru. It had 16 smelters and refineries in the United States, 4 smelters in Mexico and one in Peru. During the year 1934 its plants produced 1,476,487 oz. gold; 76,382,037 oz. silver; 329,844 tons lead; 158,745 tons copper; 58,268 tons spelter.
The balance sheet as of June 3o, 1935, was as follows: