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This lot is closed for bidding. Bidding ended on 7/26/2018
Simon Guggenheim, U.S. Senator from Colorado, signed page from the corporate ledger of the Philadelphia Smelting and Refining Company, the Guggenheim family company that produced the wealth of one of the most successful and philanthropic American families. Incorporated on 13 January 1888 by Meyer Guggenheim as the The Denver Smelting and Refining Company (with its name change occurring shortly thereafter), the initial investment in the company was $500,000, mostly owned by Meyer Guggenheim (from wealth made by his textile business during the Civil War), but also by other individuals already experienced in the mining industry. By the time of its sale in 1901, the company was worth hundreds of millions of dollars, and entirely family-owned by Meyer's sons: Isaac, Daniel, Morris, Solomon, Benjamin, Simon and William Guggenheim.
Simon Guggenheim signs the bottom of the ledger sheet as the Secretary of the company at that time, attesting to the information recorded - that Daniel Guggenheim would be empowered to act as Financial Agent for the company. Of all Meyer's sons, Daniel emerged as the most business-savvy, and this appears to be his first significant promotion in the family's business. Several years later, Daniel would travel to Mexico, handling the Guggenheim's smelting business there, which would prove enormously profitable for the company. Simon Guggenheim, who signed this document, would go on to his own success, serving as U.S. Senator from Colorado from 1907-1913.
Entitled ''Meeting of the Board of Directors of the Philadelphia Smelting and Refining Co.'' in Pueblo, Colorado on 27 February 1892, document bears the corporate blind-embossed seal at bottom. Document reads in full, ''At a special meeting of the Board of Directors of the Philadelphia Smelting and Refining Co., held this day at the office of said Company in Pueblo, Colo. / Present / Morris Guggenheim / Benj Guggenheim / Simon Guggenheim / Wm Guggenheim / on motion it was unanimously resolved, That for the purpose of enabling the Company to borrow money in New York as its needs may require and to avoid the delay of obtaining the Company's paper signed by the President and Treasurer thereof, Director Daniel Guggenheim [?] and he is hereby authorized and empowered to act as Financial Agent of this Company in New York and as such Financial Agent in the name of the Company to execute negotiable paper as the financial needs of the Company may require, and such paper by him so executed shall be binding and effective in the same manner as though signed by the President and Treasurer thereof.'' Attested by ''Simon Guggenheim Secretary''. Single page document measures 8.25'' x 13.5''. Uniform toning, overall in near fine condition with elegant penmanship.
Simon Guggenheim Signed Page From the Guggenheim Family Mining Ledger -- Dated 1892, the Board Empowers Daniel Guggenheim ''to act as Financial Agent...in New York'' at a Special Meeting
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