New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-02-05
NATIONAL LEAD TRUSTS MEETING.
THE PAYMENT or DIVIDENDS BEGUN-REPoh-
or THE rINANCFS.

THE PAYMENT or DIVIDENDS BEGUN-REPoN-
or THE FINANCES.
There was an unusually large attendance OF cortlA-
cate holder, in the National Lead Trust az the annual
meeting yesterday. The trustees announced that It
their judgment after careful consideration of the
cutr, situation. that 81 the profits to be- made by
tie trust thereafter. quarterly dividends, shall be PAID
and IN order 10 begin n return to Uhcir share
holders who have waited with patience flr these ac-
foundations they I'VE have declared dividend 81 80
ccnts per share 10 o. shareholders, 1t Is
the puposc of the trustees to continue the payment IL
dividends from the earning, from this time forward
The dividend /, at the rate OF per cent per annum
The first quarterly payment viii be- made on April 10
The meeting no elected +. W. Rockwell ". II. Thomp
son and Il. r. Colgate trustees and chose l.. 4. Cole
90 IN existing vacancy. subsequently the trustees
reelected Colonel W. T. Thompson president. General
\. I. Go-horu first vicc-prc,dent +. W. Rockwell
second vice president. l.. A. Cole secretary, !. g.
rockingham assistant secretary. and L. : Thompson
ussi,.inC treasurer. The shareholders approved tho
annual report of the president all taken IN tho
last Year. The trust year also ordered To be
changed 10 end December 81 instead Of January
81.
After the disposition Of the annual reports Colonel
j. G. Reif offered a resolution permitting the holder Of
900 share, for over thirty DAYS to call for iniorma
ton from the books he should desire. President
Thompson opposed II. saying that It IN conflict
with deed OF trust. and the business had already
suffered from leakage OK information 10 competitors
Spectators would be- enabled 10 the information for
their benefit Colonel Rcn replied that he objected
10 any reflections being cast upon the resolution or the
Offering Of H. There divinity hedging the
officer, which gave them right 70 Information not avail
able 10 shareholders. T.. j. Brockctt criticised the
luton a, incqutaJle, unjust and Illegal In providing
for privileges To holders Of 1000 shares when tho
holder II share an equal footing as to rights
II the trustee, could bee trusted, they should be
D." turned out Colonel Refill defended his resolution
and "A that II to- him that the trust did not
control - per cent Oi the business. President Ihomp
SON replied
am glad to have the opportunity to correct a
mi,approhcnson on the part Of certificate holders in
regard to the point raised by Colonel Rcif. This is
NOT a white lead trust. II IS lead trust. We have
no monopoly In the lad pipe business OF the United
>atc,. We have control of the shot business. or
cartridges. or ything of that kind We largo
operators sheet lead but there are other competitors
In that line and strong ones. We chance 70 have a
large share of tho whitehead business. We have not
sought 10 keep up monopoly IN any direction. Then
again we are doing today fully onceighth Of all the
lnsced oil business and Onecghth Of all the smelling
and refining business Of the United states, tn which
direction there il great competition. In both cases
however, holding our own, am happy to say
Colonel Iirif Immediately expressed his qualification
at obtaining the information, which what h. sought
and withdrew his resolution. President ThompsOn said
that he would be glad to furnish 10 any shareholder
ON application any information which would not in
ure the operations of the trustees 10 protect tho
business.
The report OF President Thompson IS explicit. 1t
shows that while the valuation OF the properties Il
wear ago T23,J6l 300 IL now l. S-I,2lI ,t3S Tho
assets January 81, the end %. the fiscal year. were
Plant T17 993 $50 other Investments TfjD. 2;I net
wording capital. 9J,76j,414: other net as,ct,, f9lO,
7rJ: total SOL .42l. Adding TII 1861 for t'rc,t
on loans the earnings of the trust for the
were - O2- .5j2 add prOnt to January |, 1890 T-O3
N3j. total. S.,76l 3D. The total Nalc' fr the year
were $19 SOS ,S3j. In spite Of troubles caused by tariff
changes and the November money panic.
The trustees say that owing to objections the plan
In their Judgment, II the capital had been reduced To
$3,OOO0O0 the savings would have been fully per
cent that amount.