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This lot is closed for bidding. Bidding ended on 7/26/2018
Benjamin Guggenheim 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. Benjamin Guggenheim is famous not only for his role in the Guggenheim family business, but also for his bravery on the Titanic, where he perished after helping women and children board life boats. Sitting in the foyer of the Titanic's Grand Staircase, Benjamin and his valet were reported to be sipping brandy and smoking cigars, where he was overheard saying, ''We've dressed up in our best and are prepared to go down like gentlemen.''
Benjamin here signs the ledger on 27 November 1888 as its Secretary. The document, stamped with the blind-embossed corporate seal, is a rather important update as to the company's activities less than a year after it was incorporated by Meyer Guggenheim, with its initial investment of $500,000 being accounted for, and ''thanks were offered to the management for the past years' accomplishments''.
Document reads in full, ''Record of Proceedings of the Board of Directors of the Philadelphia Smelting & Refining Co. held at its office in Pueblo [Colorado] at 8'oclock P.M. Nov. 27th, 1888
The meeting was called to order by the President, Mr. Edward R. Holden, and the following Directors were found present Mr. Richard Cline, Mr. Edward Holden & Mr. Benj Guggenheim.
The previous quarterly meeting of August 9th, 1888 not having been held, the minutes of the quarterly meeting of May 31st were read by the Secretary, and no objections having been offered stood, approved.
The Treasurer then respectfully submitted his report, which was as follows:
Expenditures to date - account of ore $241,540.42
'' '' '' '' smelting 5,349.86
'' '' '' '' construction 238,640.04
Bank Balance 14,469.68
_____________
$500,000.00
On motion, of Mr. Richard Cline, seconded by Mr. Benj Guggenheim, a vote being taken, the Treas' report was approved.
The Mngr. then submitted his report which was, as follows: Amount, of ore purchased to date, about 8000 tons of which, about 6500 tons, are paid for, for a total in money of $241,000, the average per ton being about $370.00.
As the Works, are, at the present time almost completed, we can safely say we will commence smelting of rations within the next 15 days. We have spent to this date account of construction, $238,000. App.
On motion of Mr. Benj Guggenheim seconded by Mr. Richard Cline, a vote being taken, the Mngrs report stood approved.
On motion of Mr. Cline, seconded by Mr. Benj Guggenheim, a vote being taken, thanks were offered to the management for the past years' accomplishments.
A motion was then offered by Mr. Benj Guggenheim, and seconded by Mr. Richard Cline, to adjourn. The motion was carried and the meeting adjourned.
[signed] Benj. Guggenheim, Secty.''
Two page document measures 8.25'' x 13.5''. Light uniform toning, overall in near fine condition with elegant penmanship.
Titanic Victim, Benjamin Guggenheim Signed Page From the Family's Mining Ledger -- Important Milestone in the Company's History, ''...we will commence smelting of rations within the next 15 days...''
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