St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-02-19
DENIED IN TOTO.
Sensational Reports Denied by
Mr.. BreyfOgle.


New YORK, Feb. 1S.-Information
was received by the Evening Post yes
terday that at meeting of directors of
the Louisville. New Albany & Chicago
railroad company at the company's
office in this city, an additional
issue of s2.5OO,OOO of the company's
stock was authorized, the president of
the company, William L. Breyfogle,
stating 20 the directors that he had ar
ranged with some one to loan the COM
pany money on them. The Evening
Posts informant said that the issue
of the stock was part of an attempt
to defraud the company out OF just
so much money. The directors. it was
also asserted, did not understand any
that they did Just what the president
wanted them to do, and that all they
knew, OF thought they knew about the
matter-those who were present-was
that last October the stockholders voted
to extend the road thirty miles
to the Brazil coal mines in Cook and
Clay counties, to extend the French
Lick Springs road to Evansville, and
to acquire terminal property in Indian
apoliS, all of which, it was expected,
would cost much less than S1,000,000;
but the necessity for issuing nearly
100000 was not apparently explained
by MIR. Breyfogle.
AS it is something out of the common
for a railroad president to be charged
with attempting to defraud his company
out OF s., coo, 900, reporter of the Even
ing Post called on MIR. Breyfogle at the
company's Office and asked him yes
terday concerning the statement
that the directors had author
lied the issue of $2,5OO,0OO of
additional stock. In the most emphatic
manner possible Mr.. BreyfOgle denied
the story. He declared that there had
not been any such meeting OF the direct
ors, and that no additional issue of
stock had been authorized or even sug-
gested. He asserted that the story was
made out of whole cloth, and was alb
solutely without foundation what
ever. He said that some one had evil
IDENTIFY been trying to fool the news
papers. and then added that the only
circumstance he could think of for the
basis of such story was that about
year ago, when the present man.
agement took charge of the road, the
bonded debt was increased by $780,
coo to $l2,500,000, and with the
proceeds of the additional bonds some
floating indebtedness had been paid off.
and a saving effected on the interest
charges Mr. Breyfogle also denied the
statement that the company was bOr-
rover of money recently at 6 per cent
and brokers' commission; declared that
the company was not financed in this
city; that it was not i'll need OF money.
and that no company was in easier cir
cumstanceS financially
About the time that Mr.. Breyfogle
was talking to the reporter of the Even
ing Post yesterday, w. S. Alley,
stakeholder in the company, was APP
plying in Chicago to judge Tuley in the
Circuit court for a receiver OF the COM
pany. In his affidavits Alley alleges
that a conspiracy exists between
Breyfogle an0 Henry S. Ives Of
Cincinnati, Hamilton and Dayton fame
to wreck the company; that they are
seheming to increase the capital stock
from s5,000.000 to 1880, 100, and that
Breyfogle wants to receive this increase.
Mr.. Breytogle was seen to-day and
asked for an explanation of the apparent
discrepancy between his statement yes
terday and the affidavits of Mr.. Alley i'll
Chicago. In reply, MIR. BreyfOgle die
tated the following statement:
II have been informed that such q suit has
been brought, and have been repeatedly told
since Henry Crawford severed his connection
with this company, that he was preparing
sensational suit that would be the ablest
effort of his life. This. however, does not do
him credit. The charges are fictitious and
sensational