Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-05-13
BIC END OF THE SUIT,
That Great Bill in Equity of
S. F. Barr Explained
BY MR., FORD, A DEFENDANT
he Says it is a Personal Matter, and
Tells About the Big Deal,
THE CHECK FOR THE FIRST OPTION
Was Objected to by Mr. Barr, and Mr.. Ford
Paid His Own Funds.
HE CHECK FOR THE FIRST OPTION
Was Objected to by Mr.. Barr, and Mr.. Ford
Paid His Own Funds.
HOW PROFITABLE THE COMBINE lSTO BE

Mr.. Ford, President of the Pittsburs
Plate Glass Company, in a pleasant cha
with a DISPATCH reporter last evening
gave the other side of that great equity suit
reported in these. columns yesterday, and
furnished full history OF the deal as fol.
lows:
'The first plate glass company at Creigh.
ton was formed by New York capitalists,
who had an option on $50, 900 worth of land
at Camden, n. j., but were induced to come
to Creighton by Mr.. j. B. Ford, as it was a
better location for the works The name was
changed from the New York City Glass
Company to the Pittsburg Plate Glass
Company, and the capital stock was placed
at $500, 900, with only a capacity of $500
square feet per month. Since that time
new and improved machinery has been
added, and, in all, over 100000 have been
added to the capital stock to bring the ca
pacity up to 100000 square feet, making
the capital necessary to reach that capacity
100000 instead of $500, 900 as stated in
Samuel f. Barr's bill.
NOT A DICTATOR.
"Mr. J. B. Ford has never been anything
but a stockholder in any of the companies,
and when it was seen that the works could
not cope with the trade, Mr.. j. B. Ford
went alone and purchased land at Taren-
tum at his own expense, and Mr.. Pitcairn
asked to join, and took half interest.
After it was built, the Pittsburg Plate
Glass Company made proposition to buy
it. and it was sold to them.
Gas the sales increased and the capacity
was insufficient, meeting of the directors
was held, and it was decided to extend the
plant. Mr.. Pitcairn and looked for To-
cation, and obtained option on $40 acres of
land at Ford City.
'Mr. Burlington acted as solicitor, and
sent for check to pay on the options. Mr..
Barr came into the Office and saw the check
and protested. As the options were near
expiring, Mr.. ]. B. Ford paid the check
himself, and said he would operate the
works himself if they did not care to buy
it. At meeting held by the stockholders
later, all of the Fords and Pitcairns re-
Trained from voting, telling the minority
they should decide, and it was voted down,
Mr.. Barr saying: Let Mr.. j. B. Ford
build the works; he will not make knife
to cut his own throat and the rest made
-ttllsc- same remarks.
HOW THEY BOUGHT IN.
"Mr, z. I, Ford, Mr.. Pitcairn, myself
and some others were Offered an interest by
J. B. Ford, and the works were built. The
stockholders held meeting and decided to
confer with j. B. Ford & Co. for the pur-
chase of the works. We, although stock
holders, had nothing to do with the PROPOSE
fion being made.
SIT was first proposed to increased the stock
s., SOC, 600, making the stock by the addition
of the Ford City Works 100000. They
would do that, and the sum of s., 500, 900 was
agreed to, half in stock and the other in
bonds. As stated, it was their own affair,
and to-day, if they don't want the works,
they need not take them.
''In his figuring of the amount gained by
us, the computor figures the stock at 81 621k,
the rates when the works were bought;
whereas it has already increased the value
until the last stock sold at 81 S.
''We have not made by the deal. Instead
the company will have nearly double the
capacity, with only S750,OOO present ex-
pense.
at will be found, 1 think, that it is a
personal matter between Mr.. Barr and some
of the stockholders. We shall be ably de-
Tended, and you see there is nothing at all
in the charges"