New Orleans Republican., 1873-08-12
BC SIN ESS
MEETING Of THE STOCKHOLDERS
COUNTING UP THE LOSSES
They Agree to Nothing, and Adjourn
TO Meet Again.

Ou- reporter, supposing from the au7er'
tisement that the meeting was public one.
attended. He did not stay long, as a gen
teman courseously informed him, officially,
that i. was exclusively private. and he lost
no time in seeking other fields.
Our special commissioner. Mr. Isaac
Bates. however having in dis mind the coz
cluding sentence Of the owner OF the brass
works. came up to see II his rival was
going to stop this blowing business. or
bust"
DR.. Brickell called the meeting to order.
and Immediately there was motion to ad-
journ. there being only l25 present, While
2O2 were required to make quorum. This.
disguised the professor, who had accom-
panied Isaac, for he feared ne should not
see or hear any blowing. But said he,
them as has paid their money. isn't going
away fore they sees the show" And he
was right. Everybody wanted to know how
the finances stood. and what had been the
operation for the past year.
Mr.. J. c. Morris read report. The con-
csra had owned the Picoynnc eighteen
months. In the first six months they lost
$1,000. The past gear netted loss OF $4,000
more. This was considered encouraging.
[The professor here nudged Isaac as if he
agreed with them The Picayune had cos.
$lOo,OOO They had made three cash pay
ments to Mr.. Holbrook, amounting to some
thing over $751; and given him mortgage
notes to the amount of $4,000 The COM
pany still owed these notes, but the board
of directors, together with two or three
stockholders, had taken them up. They had
q strong desire now to be relieved
o. them by the balance OF the stockholders.
The paper wa. also in debt $1,000 cash to
the stockholders, who had advanced the
money for certain contingencies. 1t also
owed $4,000 on certain other bills. No men,
ton was made Of a debt of $4,000 to
Judge Hawkins. To meet these liabilities
the paper had about $4,000 Of advertising
bills, etc. a large percentage of which were
collectibie.
The board of directors were unwilling to
carry the mortgage notes any longer. The
stockholders were particularly urged to
devise some plan to pay the So 600 any
way. I. was suggested tina. each stock
holder should pay $50 a share more on his
stock. and that would fix things. This pro-
position not being very exhilaratiIg one,
met with no response. The idea of boz
rowing some more money and keeping the
machine w me: with more favor. tThe
professor took the occasion to sag to Isaac
that he'd like to see the spou. they could
shove their machine upi
Coione! J. D. Hill offered the plan 70 re-
duce the stock from $3.50 to $50; then they
could issue and sell more stock and fl;
things up. The majority OF the members
| presen. d.dn'. approve Of this plan, but tie
| mere mention os i: struck the professor
dumb.
Dc. Bricke.. took t.c foos and grati:ied
t1e professor with a blow. The board OF
directors had conducted the paper in al
upright and impartial manner.
It had been non-partisan. 1: had suc-
ceedeG in carrying the las: election. but
had lost the frnits of its triumph by having
them wrenched away by the bayonets OF
the United States. And much more Of the
same kind. Some members were present
who had become stockholders with a sincere
desire to assist in establishing non-par-
tisau peoples paper, and who came to the
Chamber of Commerce to attend business
| meeting. These gentlemen did not like to
hear political harrangue az a stock meet
ing. The professor was much pleased and
told Mr.. Bates he wished he had his expira-
tor with him to see i. tie doctor could no.
blow the top of OF it. The doctor. however.
did not consul: either cf them.
Il good deal of inquiry was made as to
the amount OF the circulation Of the Pics-
yuas. 1t was rathe. difficult to obtain a
positive answer. bu: according to the bes:
Information given i. was something less
than 1000.
At the conclusion OF the meeting q com
mittee Of eight was appointed to confer
with the board OF directors this evening at
the Pisoy".e Office to devise plan to be
submitted to the adj ou7uea meeting Of
Thursday evening.
IL sees how it is" said the professor to
M. Bates as they entered the door ct
Redwitzs. "thsse gentlemen have been
giving too much blow tor the money. Now.
a little of that goes great ways. The peo-
:'ie seem to have had enough. 1 shal. COM
nlence business again in the iau. drinks
70 you. Mr. Bates" And with a satisfied ex-
preston and al open countenauce lie an
sorbed q glass cf beer.