(5 of 5)
As a consequence of a merger in December 1939, Agfa Ansco Corporation became a division of General Aniline & Film Corporation. The latter has issued and outstanding 2,529,700⅔ shares of stock, each share being entitled to one vote. Approximately 20,000 shares of the corporation are owned by German interests. This represents less than 1% of the voting power of the stock.
A Swiss corporation owns approximately two-thirds of the stock of General Aniline & Film Corporation. The I. G. Farbenindustrie owns stock in this Swiss corporation in an amount which represents approximately 10½% of the voting power of its outstanding shares.
Neither I. G. Farbenindustrie nor any other German national have any direct or indirect interest in General Aniline & Film Corporation other than the above.
If Switzerland falls into German hands, Agfa Ansco will not pass under German control for several reasons: 1) the actual Swiss shares giving voting control of General Aniline & Film Corp. are held in Manhattan; 2) Swiss law provides that title to this stock can be changed only under existing Swiss law even though the Swiss Government is forced to leave Switzerland; 3) Swiss law further provides that no officer or employe of a Swiss corporation remaining in occupied territory has any authority to act for his employer.
Therefore, the statement appearing in your publication is without basis in fact.
H. S. WILLIAMSON
Vice President
General Aniline & Film Corporation
New York City