New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-12-02
WALLACEC. ANDREWS YIELDS
A SETTLEMENT WITH THE GAS COMPANY.
ovHaruRrs OF PEACE WHICH INCLUDED THE

ovEaTUREs or PEACE WHICH INCLUDED THE
RETURN or STOCK TO THE TREASURY.
Wallace c. Andrews the expresident of the standard
GasllEAt Company was as llghthearted yesterday as
boy on Christmas morning His feelings Of good VIII
10 mankind 10 general and to Gas company officials IN
particular fairly beamed from his clean shaven sharp
featured aoe a. he left the where the board OF
directors had been In session
sEvcr, hing Is settlcd.- said he, ave had most
harmonious meeting ana everybody Is happy
swhat were the terms OF settlcmenti' was asked.
"weil. that you don't GET" be replied as he started
30 leave the building. As ON anerthoughI ne 'urheu
and said. sharply snow you needn't hunt up sV0ouS
else aud try TO get about this business Ior YOU
won't get Il unless somebody breaks the promise ne
has made. have said that everything was settled
and everybody was happy. and. BY God. thats Ill
any one needs 10 know"
The 400 n, Aoo stoclholders Cd the Standard Gas
ueht Company may not agree with Mr.. Andrews In his
estimate OF the value ofthe settlement wheh was
arrived at yesterday. For ticlr bcneht u may Us
well be stated that the Gas company ala not
lesson In the slightest degree their demands
., Ne AndreWs. and that therefore the ex-
president must return 10 the treasury common stock
30 the par value least sl.6OOOOO and " IS more
likely that no has agreed 10 return Sl,1oOOOO or
stock The settlement will be made maj AT meeuhs
of the directors Friday, when the papers VIII DO
signed and the transfer Of the stock to the company
made.
Al tho time the company brought the charge OF
NrDngfn conversion OF stock against Mr. Andrews, the
return OF s20ooooo Of 10 was Gxed upon Us tho only
basis on which the directors would make settlement
Dir. Andrews had shrewdly resigned the once OF
president "a soon as he found the was brewing
Bv this he relieved the directors Of the necessity oil
opposing him. Then when the controversy came
squarely 10 an issue be offered 70 return sl,5o0Ooo
OF The common stock, asserting that this amount was
ell that remained In bis possession His oller how
ever, he said, was conditional upon the return OF
sa5OOO0 each from the Splnola and Monheimer estates
o. make up the amount demanded by the company.
But Mrs spnola aud Mrs. M0nhemcr positively re
ftsod TO contribute 10 the peace fund more than
$4,000 each from the stock which had been given
~ their husbands fees for legal services Thus the
case stood when on Monday MIR. Andrews made a
proposition to submit the to arbltration with
"three as able and honorable lawyers as could be
selected" rs arbittat0rs.
Having thus waved the fire brand before the public
eye, Mr.. Andrews to the meeting yesterday with
oyertnres OF peace. Arbitration. the directors de-
ehIed. was out Of the question, aud Mr. Andrews
must arcede 10 the demands Of the directors or 80 TO
court lie Yielded and the directors were as glad as
he vas 10 avoid the necessity Of starting the machinery
OF the law In motion. The acceptance by MI
Andrews Of the terms dictated by the company is not
altogether In accord with the statement he issued TO
tine press on Monday. In that lie said
40 t,e made in the newspapers by secretary
Mekcge aud possibly others. concerning the STANDARD
GH-lght Company an1 nay relations thereto, ihd 50
many ns. 40 absolutely false and others misleading
that am constrained say that hold no stock that u
not Ny own; aud further that have SAID this TO tho
losr4 non start; also that che stock issued 10 me
was legal at time, ana has never ceased TO be 80
ube stock therefore, belongs 10 and 10 no one else
nave never changed my position on this point
Ferdinand McKeige. the secretary OF tile company
said yesterday that he had intended 10 reply " Mr.
Anirewss statement, but had been persuaded not TO
do 40 because VI tho settlement wlGch had been agreed
upon lie added 4" In justice TO myself however,
wiz saw that every statement that have made TO re-
portsgs about this matter Is true in every respect ana
] am prepared TO make oath 10 that effect Mr.. An
drews has done me great injustice al the way
through"
The Health Board yesterday revoked the order to
close the works OF the Standard Gaslight Compsny ~
onehundrcd and hfteenthst. and the East River Re
p1lts FROM sanitary inspectors and policemen VINO
bad BON watching the glSwOrks day ana night Snce
the previous meeting OF the Board, showed that the
nuisance there had been abated. Members OF the
CltiIeEs' Protective Association, who had been hCuve
In mailing complaints against the works also appeared
befr the BOARD and said that the causes OF complaint
rad been removed. They held loyefcast In the
rooms OF the Health Board with President Bostwck
aud other directors Of the company, who declared
that offensive Od0rs from the works would not be per-
vltted In future