The sun. [volume] (New York [N.Y.]) 1833-1916, 1883-05-13
TOO MUCH DE- KAY FOR THEM.
MR.. OILFTLLAN AND Mn. BOVTwELL
GER OUT or THE MUTUAL TRUST.

The nrief ExperieRsa Of ~ Ex.Tressvrc,
81 the Unisea States aaa ~ Er.seereesry
efths Treasury In - Pseulear 1nssasstiss
About the middle Of last March Mr.. James
Gilhllan. Treasurer OF the United States. re.
signed that office. the resignation to take effect
on April 10. on which date It was need
he would assume the Presidency OF the Mutual
Trust Company Of this city. Mr., Oil.
fillan carried out the programme, and
other gentlemen prominent in financial and
business circles wsre elected to and cepted
once a. directorsi Of the. trust COMPANY.
Among them were George 8. Boutwell, OF Masss.
ohusetts. ex-secrstary Of the Treasury: Henry
Haines. President Of the Provident Life and
Trust Company Of Philadelphia; and T. M.
Psrot wealthy brewer Of Philadelphia. These
changes In the directors were effected a. tho
result OF pfotraotsd negotiations set on foot
ny tho trust COMPANY It is stated
that Mr.. Gilnllan resigned his ofice
- Treasurer Of the United statss
because Of the inducements offered him By the
trust company. He has now resigned tho
Presidency Of the trust company. after filling
tho ONCE about three weeks. and the repre-.
sentative gentlemen who accepted part in the
management. Mossrs. Boutwell,. Haines. and
Ierot have, also retired from the concern.
Mr.. Boutwell, was made Vicc-President when
signed, He replied that he did 30 because he he
I co,i his position and the condition Of the
the others who are mentioned retired for the
We could not find out what We thought We
Germ he continued. and therefore could not
ssasa IN \, WAS IN measure
who really controlled It. About. three en- Sr.
Iers OF the stock is represented by Sidney
ne nay a. trustee hut who be e trustee for or
rosents, wo could not find out"
~ the same time the holdings you speak OF
,stttesmp'ssd to control. or did control the inst-
We'll, yes"
dency Of tho Henry and Barnard Bronze Man
nIiactrring Company, which has an Office in the
BGrsei building and operates extensive foun-
F Fries Tor me manufacture OF bronze undor a
.t The Mutual Trust Company va. organized
Company BY Of mn I'M en TTnst
ms the eminent George D. Roberts. sci Il had an
ola charter AFTER Of the most eomprehensiye chsrac-
sH1 Is? E. Ssssn'sed ias
for srsnsns o. them Mni The n,S o.
hired By the trust company. TSe Exchange &c aEHa
ana the only thing the company has to show
ter It is is law su BY Of the mem
vSth. ~ Ucn6II o! nlnheIt ana others 70 recover
seat in the Exchange. number OF we'll
Know BANKING and mercantile men have been
az onlcers or trustees. but none has held such
ontce for any great length Of time. The
so By shse c.er +: ss SSs s
had failed to effect tho change by q Legislative
e e1 vi owing principally to the opposition
ma man rs ERR Va tsIn by the ;sted az
ivy u .he name OF tho people. II, nj .sfenerai
It Il ssnerslfy andeisfoods i the IL eesn
Of the stock OF the company "a held by the De
they; as the principal promoters Of the concern:
received 1t for tho charter. The larger part OF
its cash capital was obtained from the sale Of
seats In tho American Mining Stock Exchange.
Exchange against the company it is alleged that
no accounting can be- obtained Of this money.
which amounted TO over 100000. When
Messrs. Boutwell,. Haines. and Perot became
sOme Of its stock at about $500 u share. the par
vnlue being $50. A friend Of theirsesaid yestcr-
day that they would now like to get their
money bnck. and Ecntlcman cognizant OF the
il had been refunded.
The vacancies made by the retircment OF
Messrs. Gililllan. Boutwell,. Hanes. and Perot
have been filed temporarily by VIM. II: Grinell
tors. The policy Of the owners OF the concern
is stated to be a reorgnnizat
Some time ago. when Mr. CYRUS W. Field en-
deavored to organize an opposition Stock Elk
their franchises. they to retain all tho assets OF
tho concern.
A banker conyersant with tho recent changes
said the trouble was that Sidney, DeKay. as
through his brother Drake. and that no ono has
boon able to learn whom Sidney represents.