National Republican., 1883-05-14

of attempted to control, or did control, thu
institutions2"
well, yes
Mr.. Gil6lnn has since accepted the presi-
dency of tho Henry and Barnard Bronze
Manufacturing company, which has an office
In the BOreel building and operates extensive
foundries for tho manufacture Of bronze,
under a French patent
The Mutual Trust company was organized
about three years ago as the Mining Trust
company by q number Of mining men, in
cluding the eminent George ID. Roberts. 1t
had an old charter Of the most comprehensive
character, II rolict of the Tweed regime in the
Legislature. Under 1t II also organized the
American Mining Stock Exchange, from each
of the members Of which 1t obtained $1,000
for granting them tho privilege of
dealing in mining stocks in room
hired by tho trust company. The exchange
was closed recently for want of patronage,
and the only thing the company has to show
! for IL Is lawsuit brought by one Ofthe mem
bors, in behalf of himselfand others, to recover
tho amount paid for the privilege of an alleged
scat in tho exchange A number of we'll
known banking and mercantile men
have been connected with the company
at different times as officers or trus-
tees, but none has Eeld such office
for any great length Of time. Tho
company changed its name about year and Il
\ llhll NkO ny Uu uIuOI VI lHb buIItHlc Nbults ~
| had failed to effect the change by n legisla-
| tive enactment, owing principally to the op-
| position OF Col. William +. Moller, then an
assemblyman from Wcstchcstcr county. IL
resisted an examination by the banking de-
partment, and the result was a suit by the at
| torney general in the name of the people.
/ The suit was decided in favor of the depart
ment, but has been appealed, and tho appeal
/ is pending.
| 1t is generally understood that the majority
of the stock of the company Is held by the
! DE Kay brothers, Sidney and Drake, and that
they, rs the prime promoters of the concern,
! received IL for the charter. The larger part of
its cash capital was obtained from tho sale of
| seats in the American Mining Stock exchange.
In the complaint of ono of the members of tho
exchange against the company IL salcged that
no accounting can be obtained of this money
which amounted TO over 100000. When
MessrS. Boutwell,, Haines, and PcrOt became
interested in the company they purchased
some of its stock at about $500 n share, the
| par value being $50. A friend Of theirs said
! yesterday that they would now like to get
| their money back and a gentleman cognizant
of the affairs OF the company said that he un-
| derstood IL had been refunded.
The vacancies made by the retirement of
Mcssrs. Gilfllan, Boutwell,, Haines, and
Perot have boon filed temporarily by Will
lam II. Grinnell rs president, and by not
| very noticeable directors. The policy Of the
owners of tho concern is stated to be reor-
| ganization.
| Some time ago, when Mr. Cyrus w. Field
cndeavored to organize an opposition stock
exchange, he offered tho Mutual Trust
$4,000 for their franchises, they to retain all
the assets for the concern.
A banker conversant with the recent
changes said the trouble was that Sindey De-
Kay, as trustee, endeavored to control the
concern through his brother Drake, and that
no one has been able to learn whom Sidney
represents.