Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1891-01-23
WESTINGHOUSE AFFAIRS.
He Expresses His Confidence In the Out
look for the Future.

PlrrsBURG. January 22.-Mr. West
inghouse returned from the East TINS
morning. He was In the bes; OF spirits
and is very hopeful OF the settlement OF
the Electric affairs. He was at his
Office at : o'clock this morning, ana
was all day in consultation with inter,
ested parties. He was very busy ana
said he had little time to talk. He
however, was interviewed as follows;
"The Eastern parties will do their
share. but look to PittSbnrg Tor SUD
stantial cooperation, and | feel that
sIch cooperation will be accorded by
those who are interested In maintaining
this industry in PittSburg.
Mr.. Bannister reports that the i0cal
creditors committee is doing excellent
work. and if the other PittSbuIg parties
interested follow their example, there
can be no doubt as to the success oi th'
efforts being made.
II can best supply you with iniorma-
tion by handing you copy OF circu.ar
TO be sent to all the stockholders ior'h'
with.
~ would like to say that there were
full reasons why the Advisory Boaru
sbould return the checks for the SUD
scriptions. II was obvious 10 them ana
TO me that the sum OF s5OO,OOO was IN
odeouate without the aid OF the stock
holder, and creditors, and on this latter
point the committee had reason 10 th'nA
that the aid that has now Deeh iare',y
offered would be withheld. MY ohiy oo.
lection TO the action was as to the tlil''
The following is the circular relerf'u
TO. IL is addressed to the stockho,d'rS
Of the Westinghouse Electric ana Man
nfacturing Company. 1t says;
"Since the issuance Of the circular
dated January 9Th. subscriptions to the
nrefcrrcd stock have been made to the
evtent of 2O. 800 shares, and assurances
given for further amount tha' o''"s'
the total To above 2j,000 shares.
"The condition OF some OF the SUD
scrintions is that at least 10000 shares
shall be taken in all, and 1t Is now IN
tended IN make all subscriptions subject
- tbis condition and to extend the time
for subscription to January 81, lsgl.
..Tbe nlacing OF this 10000 shares
yill entirely relieve the company oil lts
mr., sent financial difficulties and place u
in a position TO push its business
"Those who have contributed ~
largely to the protection OF the lnter-
nsts of ali the stockholders have done
50 with the expectation that the other'
will promptly do their share.
..You can feel assured that the condl
tions upon which your subscription Is
asked make il entirely free from RISK.
The above circular was decided on AZ
meeting Of the Board to-day, ana aiter
full consultation.
Three hundred thousand dollars more
will nrobably be added 10 the suoscrlp-
lions TO the issue OF Westinghouse Elec-
tric and Manufacturing Company pre-
ferred stock.
This money is being raised by a syhGi'
cate of local capitalists, and II a cohul'
tlon or two Is complied with there seems
TO be little doubt that stock TO the
amount mentioned will be purchased
Among the subscribers Is the gentle.
man mentioned yesterday, who VIII
take individually $4,000 worth.
Local creditors are feeling more hope
full day by day. In fact, according u
leading members OF the Creditors Com
mittee. they feel that Mr.. Westlns
houses trouble is over.