The Financial World, August 3, 1912, page 20:
UNITED WIRELESS UNDER NEW NAME.
As The Financial World foretold some weeks ago, the Wireless Liquidating Company, which was then incorporated, was formed to take over the assets of the old United Wireless Company in accordance with the plan of holding the stock which the Marconi Wireless turned over for the former company's physical assets.
The Marconi Wireless Telegraph Company surrendered over 140,000 shares of the par value of $5 per share, which stock was to be distributed in exchange for the stock the United Wireless stockholders deposited, in the ratio of two shares for one share of new stock, but as the stockholders paid an assessment of 50 cents a share on their old stock, they virtually paid an assessment of $1, for it required two shares of old stock to acquire one share in the new company.
The Wireless Liquidating Company estimate their 140,000 shares, based on the present market price of Marconi Wireless, which it states is selling from $8 to $8.25 a share, to be worth about $1,120,000. On this basis the company claims each share of the Wireless Liquidating Company should be worth approximately $4 per share. Deducting the $1 assessment, leaves a net worth of $3, and virtually means a recovery on the investments that the United Wireless stockholders made of about 10 per cent, on their capital, for the majority paid over $30 a share for their old stock, all this provided the 140,000 shares of Marconi Wireless stock could be sold at the supposed market value of $8.25 per share, which we doubt very much.