Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1890-07-10
THE COTTON-OiL TRUST.
Annual Meeting of the American Cotton
Oil Trust in New York City.

Annual Meeting of the American Cotton-
Oil Trust in New York City.
CHICAGO, July about five hundred
metal cornice makers in this city wen+
on strike yesterday for an eight-hour
day, forty cents an hour and to enforce
other demands.
New YORK, July 1.-The annual
meeting of the American Cotton Oil
Trust was held at the Office of the
trustees in the Union Trust building
No. so Broadway at noon yesterday.
Four hundred and seventeen thousand
shares were represented. First Vice
President Urquhart presided. General
Thomas made a statement in behalf Of
the trustees for the benefit of the certi-
ficate-hofderS present, outlining the &C
ton taken in the affairs of the Trust
since the change in management after
the resignation of Messrs. Flagler and
Moss.
Mr.. Urquhart then presented state
ment which he announced was all that
the executive officers could at present
make. At special meeting held in
May the date of the annual meeting had
been changed to July 1, instead of Sep
tember l, and owing to the change a
more detailed statement could not be
prepared.
After the reading and adoption of
this report it was moved to proceed
with the election of trustees. Colonel
Bliss rose at this point and said that he
wished to offer resolution, as fol-
lows:
Resolrcd, That the trustees to be elected to-
q q hooks q
the Trust and to inquire of the outgoing
trustees and of counsel to the company and
other proper quarters, and to ascertain il it
is true that former officers of the Trust en-
tered into written agreement with the firm
of Winslow. Lanicr & Co. in the name of the
American Oil Company, of New York, by
which it was agreed that purchases and
sales of stock and securities were to be
made through or by said firm; and whether
it is true that said officers. with or without
written agreements, opened accounts with
the firm of Decker, Howell & Co., and Moore
& Schley i'll the name of said American Oil
Company, or some other company prac-
tically owned or controlled by our trustees.
and whether said firms rendered accounts
showing purchases and sales for and on ac-
count of said company and in its name, and
whether it is true that such operations
through said firms resulted IN q loss to the
American Oil Company, of New York, or tn g
company owned and controlled by our
paid from the funds of said company. and
in that way became practical loss to
our trust and whether said officers compro-
missed their liability by paying to said COM
pany about S250.OOO, leaving a loss to the said
company of about S2a1,0 900 and $4,000 and
that if they shall ind reason to believe that
the facts are substantially as herein stated,
that they be directed to consult competent
counsel, not heretofore come cted with tire
Trust and to take the opinion of such coun-
sol hat
advise that said Winslow, Lanier & Co.,
Decker, Howell L Co., and Moore and
Schley, or any of them, received such
moneys under such circumstances as to be
legally liable therefor. that our trustees be
directed to commerce, or cause to be COM
menced and vigorously prosecuted, suits
against said firms to recover said amour IS.
Colonel Bliss prefaced the reading of
the above resolution with the statement
that the assertions on which it was
based had been received by him from
reputable gentlemen, who had gained
the Information, alluded in regard to
the relations of the firms mentioned
with the former managers of the Trust
from personal inspection Of the rec.
ords.
The resolution was adopted. The
election was then proceeded with. The
term of all but one of the nine trustees
expired yesterday. General Thomas is
the only one who holds over. The follow
ing ticket was then chosen by vote of
416, Ill of the certificates represented:
Trustees for three years: A. Urqu-
| hart, A. B. Mason and J. III. Benedict
For swo years: E r. Chapman, E. R
Leland and w. Fl. Foeld.
| For one year: w. J. Carter and Carl
Dreier.