, 1874-08-26
LOCAL MISCELLANY.


AN ACTIVE DAY.
fYesterdaY.waB M acitvo dhy with tho 'htock-
holders and creditors Of tho Joliet Iron at.d Stool
Company. At II o'clock thocscditors held aprl~
yato -nlooslng> Attic olub-ronm of tho Shorman
House 10 further consider tl,oir interests. Tt
was found that out 81, 900 Of tllo trodlts Of tho
0omnany Ind 'agrcol to 'accopt tho proforrol-
stock plan Of Hettonlont eiuce tho' last meeting,
md that tho rosiduo OF s;osodtors, 'ssho had ro-
fused tho plan, .woro aH atnbbotnas oycr.
At tho meeting, Mr.. s:afro'y, Doa-
tou attorney, WHO In ,hntong tho 'ufifor-
tunnto creditors of Tho Company, st,ggostcd
u partially now pan to adJuat tho dt fflculttua.
Ho introduced a:doonmont proposing, from What
could 10 learutd, tho appointing Of two aots ot
Tsnstcos, with whom tho adjudication Of tho
whole thing sl.otld be loft. THO duty OF tho
nrst sol, Messrs.- j.. NJ Jowott, Of tAIs city mud
". s. Drooks. OF Joliot, WAS 10 roceivo tho claims
OF creditors which had not yet boen presented.
Tie duty Of tho second set, composed Of John @.
scots,or st; Louis. aud ism. Jewett, ct thla
atoch In payment Of cian,B, In tho haulo Of such
ns arould accept tho aamo, aud 20 .hod auch
Htock for tho Hpaco OF sixty dars. Tho docunlsnt
fulthor- provldol"that,:I at'tho end Of sixty
" .agniaol :tAo!r Willingness to accept
preferred stock; tho aano Bfoilld be dollyored to
tllcm IN person. On tic other hand, II tho cred
itors now refusing tho plan or eottomoht con-
tinuol TO resuso, tho. Trustees would retnrn all
surrendered oainss at tho on1!of' aixty days, nn1
leave cncl creditor to act ns. hc plsascd. 1lo
document alBo authorized tho 'lr,,Bteos to tAsio
curtitlcatcB of indebtedness to- tho ercditors Of
tho Company, which, uIon prostnt tation dt tho
to bnyo voioo In tho Hame to the ext4nt OF thoir
ein,hs, tho ammo as tf'thsy had besn pa1t-up
Stockholders.
Tho whole plant met tho appreciation Of tho
creditors present. II was subsequently laid be-
tho Company, by . Dohtou creditor, Mr.. Tny,
mid, nftor golao explanation, wia agreed to. Tic
oved!tors' ~macting aa1onrngd about noon TO
meet tic Stockholders NJ 0 O'Clock.
BrocKNoIinEns' StEsETINn.
Tho stockholders wtro rhth1r SLOW It, Gttting
together. 'fn view Of tho action Of the CREDITORS
in. tho forenoon, considerable work hatl to bo
done to prepare for tue meeting. Tho aurreuder
stoolt on tho part ofeucl,of Ito original st9ck-
holaers as had uccepted tho pr6fosrodsstock plan
Of so;tlomont l,nl to DO tccclvca, aid :alsp tho
claims Of creditors, for whom preiurrod stock Ind
to 10 prepared. Tho r1neotlng: was called to
order, however, about.l o'clock. with DR.. Bnc|s
in tho chair. anu 1T. 'DiRslow. Seofctary. Tho
oujcot Of tho meeting wis to elect. q b5.td Of
n,no Directors for tle Company, which Ind been
deferred Bllco Febrtiary last. :llio election YaA
at once proceeded with. 1t was found That ;;tYo
tickets worcln tho tleld. ono Of which was snosn
" HtookiIolierB tiohot."' The only dilraroEco in
the tiohoH was tint in:tho latter name of T.
T.: uructley was substituted forty: L. Whcttuorc.
Tie election lnstcd several hours, Tho creditQrB
Ind stooEtlodorH voting will lhe Freedom totAe
oxtent Of their, rIYltd. After tho polling Of
16,l22 votca. representing 30 naany allarea,
tho atocEllolders' ticket was doclased elected,
which, Is as follows; AID. 'ateekcr, 9. Il. Chr
tis. T. +. M!nchley. Ul!esgo Q: D. Fllov, lonn
Fay, Dasto,,; Thomas DIckoly. philadelphia;
mud ~. i. BROOKS, Joliet. The niootinS tl,oa I'D
journeu.
a PRIVATE MEETING
Of the Drectors-clcrt was hold immediately after
adjouruMont, Alr. 0. .. Tillcy III the chair.
After soino discussion TWAS agreed to adjourn
untllth morning at 10 o'clock, "hen pfc1it!qns,
Treasurer, md Hecrotary Of tho Doa,d wul bo
elected
Tho nlootings Of tho 1ant two, tlaFs havc In NO.
wino changed tho asreet Of tLe aCoaipany'a
affairs. Uatil sio .dcbB Of tho Cohhipa,iy alo
mot. by .-g.yiug preferred stock thoro-
for, or by uotno othnr in5aha, tho
rreat works at Juiiea will lay
Idle. Tho meetings simply 'anintut'to giving
stockholders who have rct1tBou 10 Surrender a
share OF their stock to llauidato tho dehtssof tho
COMPANY, and efotitora who fi1vo refused to ac-
copt proterrcd stock for their clams. slxty days.
moro TO consiaet tho'nuG}ccs. II ut tho oil OF
sixty, ,t1ays:thereis ND ohangoin tho ;opinidn OF
withholding stockholders mud creditors, bunk
rnptey will bu tho md oftho Company.