St. Paul daily globe., 1891-01-11
COLE HAS HIS SAY.
Yesterday Afternoon the N.
B. L. and P. Union Re-
ceived His Report.
East Night the Nominating
Committee Named q
Slate.
George Heilpern's Defalea-
tionS Will Cause a Big
Law Suit.
legislation Which Will Be
Asked Of the Hennepin
Delegation.


Delegation.
From an early hour yesterday morn
ing until a late hour last night the
factions in the ranks of the stockhOld-
ers and officers of the National Build
ing, Loan and Protective association
were in battle array. The independ-
ents are determined to wrench the con-
troll of the associations affairs, not only
from the hands of the present manage
ment, but were, and are yet, really
averSe to having its affairs controlled
by Minneapolis people. The more the
record of Kneale is investigated the
more indignant grow the stockholders.
Secretary Haywood has also become a
mark for the shafts of doubt and sns-
picion and the subject of much severe
criticism on the part Of jealous inde-
pendentS. President Cole, since the
reading of his report, has regained
something of his former hold upon the
confidence of number of independents
who, heretofore, have not hesitated to
score him unmercifully. But the Cole
management is in bad odor, and no Que
in sympathy with him or his business
methods is apt in the near future to take
an active part III directing the business
of the association. When the con-
ference committee, yesterday after
noon, suggested that certain Min
neapolis men be elected directors
of the board. every art and
stratagem known to the majority of the
Independents added to their Outspoken
objections were utilized in combating
the recommendations of the com mlttee.
1t is thought there are several WiscOn-
sin men who are ambitious to become
directors, If not officers, of the COM
pany. Wisconsin delegates are the
most active and unrelenting opponents
70 President Cole and his supporters.
At IL o'clock yesterday morning the
single tax room in the West hotel was
crowded with stockholders awaiting the
report of the nominating committee,
which had been appointed Friday even
ing. 1t was thOughtthe committee would
presentitS list of nominations for direct
0rs of the new board. But the committee
took no action in regard to the matter.
1t asked that it be given more time in
which to formulate report. 1t did not
care to act hastily in such an important
matter, but before coming to any con-
clusion TO weigh every consideration
looking to speedy and satisfactory
settlement of the affairs of the organ
ization. 1t recommended the appoint
ment of a committee to confer with
President Cole, to discuss the situation
with him and to report back to it, the
nominating committee, the result of
such consultation. Mr.. Hudson ex-
planned the report in detail. He said
the committee could really do nothing.
1t was thought the stockholders could
elect fifteen directors and scat them
but such procedure would involv the
association in lawsuits, and lawsuits
ought to be avoided. A legal contro-
Versy at this time in The history of the
eompany'S affairs might cause the stock
holders to forfeit their investments.
Mason Evans, OF Ohio, was in favor of
conciliatory policy. He indOrsed the
recommendation of the nominating COM
mittee, and advised the stockholders to
act deliberately and with cool Judgment.
1t being evident the stockholders meet
Ing would be prolonged beyond to-day,
Mr.. Evans suggested that all proxies
held by stockholders then present, but
who would have to 90 home, should put
them in the hands of committee of
three, who should act for them in the
interest of the union alone, and not in
the interest of any person or faction.
He warmly indOrsed the sending of
conference committee 10 President Cole.
5. Z. Briggs attracted general atten-
ton, deal OF sarcasm, Kisses and h0otS
by his remarks. He said the very men
who had maligned Cole were now an
xiOus TO consult him, and sue for his
favor and good will. The stockholders,
he said, had been corrupted, and the
conference committee had its origin in
wine party composed of Judge Emery
ana two Minneapolis men, that had
taken place Friday evening in private
apartment in the West hotel. Mr..
Briggs said he was accused of having no
stock. AS a matter of fact he had
owned fifty shares for six months, and,
II that were not true, he would not
have presented himself before the
meeting. The report of the nomi-
mating committee was finally adopted
with the proviso that the conference
committee be composed of three, and
that they report to the stockholders be-
fore taking any action. w. j. Evans,
of Winona; Judge Malone, of Wiscon-
sin, and Mason Evans, of Ohio, were ap-
pointed on the committee. 1t was gen.
orally believed that the appointment of
the conference committee was the re-
suit of desire SAID to have been ex-
pressed by President Cole to meet the
Stockholders halfway in any scheme
looking toward an amcable adjustment
of things. He was willing to make a
compromise. Mr.. Coles adherents
thought that all of his officials should
resign and that Mr.. Calderwood should
be elected secretary. The meeting ad-
1ourned to meet at l o'clock.
O1olnpk the Nominating committee
not having reported the meeting was
adjourned to meet on the third floor of
the Guaranty Loan building. Long be-
fore the hour the place of assembly and
the adjoining corridors were filled with
little groups of men earnestly comment
ing on the history of the union and the
official conduct of its former managers.
AS many as 500 persons were present
when the meeting was called to order,
and President Cole proceeded to read
his annual report. Mr.. Coles voice
could not be heard distinctly throughout
the hall. and Secretary May read the
document. The report detailed the dis
covery by the president of the irregu-
larities affecting Kneale, Abbott and
Stratton, and their subsequent removals.
Kneale, it was alleged, after being
allowed $4,000 for salary and pay for
organizing tH0 union, coulu not
account for balance of Sl9,-
600 which he was, afterward,
forced to pay. Other irregularities. the
report stated, would be explained to
any stockholder who would call upon
the president at his office. The presi-
dent had always found it difficult to get
the old board to act in matters per
tinent to the welfare of the union. The
change to one, two and three years
was made to conform with the state
law. Mr.. Cole said he had acted hon.
estly and to the best of his ability in adj
MinisteriDg the affairs Of the union. de