New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-12-01
yUENGLING BREWERY FUNDS.
FAILING TO PAY INTEREST on BONDS.
vnrxn,rrRrs on IMPROVEMENTS SAID

rxprvDIrrREs on IMPROVEMENTS SAID
70 HAVE EMprIED TIE TREASURY
n.,, r xuonoIIng Brewing Company, which
'"' -, cno brndied and twonty -eighthst' ana
nI' .,or, ,vc Gained at about S3oOoooo' IS sAoro
,oor nm. .he bondholdcrs ana o'hcers Oh INC yum
ronv cav that there Is M chahoe lux VIC -,
., a recncer and That the concern VIII ooi"""' ~ W
,r.ioo,s ne usual Mr.. iucnghnr' whch seen SoS'o'
lu'" .no. H., was not worrying about tho future
~, the brewery but admu'u ''"' ''' ,,,
d,,on of ,hc company was not so good as II h''sn'
a., l.. so,, That everything would DO madc rleh'
" roorcon,,,tlon Of the company. WHICH "o"'u
nrolablv not be completed for several weeks' oo"'
m,ttnc Of bondholdcrs has been appoh'eo 7" ,.''''
emmett. Investigation OF the company's conduoh'
49,. Graves pres dent OF the st. Nicholas BANS
Who Is chairman OF the committee, says that VIII
No sovcrol weeks before a report can be made
~ :. - 40, known N IN. bondhodcrs until November
,ho, there was no money IN the treasury Az ti'a'
time the semiannual interest on the Sl'Joo'o0' III
,onae which the company issued about hNe So'is
900 was due and tho announcement was ihauo " -"
treasurer TINT tho interest could NOT 10 Ph'"' i
Ia, On n meeting OF the bOnfhod-rs, ana Mt "ia'.'
Edward schaefcr president OK the UerhahiI DAM
roh, wobcr. Of the Murray Hi Bank; ffedo''"
I.h,,nonn OF the BROOKLYN Elevated Railroad Com
onr and william NJ FLIES. OF No. A. broadway,
~. onrunted TO make an Investigation. Several OF
,nc largest londho drs who were seen YESTERDAY "'
that they fer no uncaSlncsS abont thor Investment
and the only thing they would do wolld De 10 "c'i
means 10 ta,c M the old bonds which mature Oh JAN"
ary and issu, now ones
The failure Of the company TO meet the E''ei''''
which was loss than 10000 the officers say was
duc 10 bad business during the last year anu INV
,rorditurc y, large amounts OF money on improve
mcnts hut the bonGhodors are Of the OPINION 'l''.
the liberal methods Of Mr. Yuenelng and MS WAY Vi
doing business were the causes OF the I"i'urc ~
moe, IFS indebtedness. Mr. luengnhg saiu '""V wv
failure 70 pay the scmlannual Interest Womb not re
suit I'm serious complications ,,
Tho corporntion' said he. "was not In po-lloh
IN nay tb, Interest It's bonds November l. ana IL u
necessary 10 maKc some arrangements when ""l "
,l, I'm tho issuing Of new bonds or In extending u'e
,.ne ~ the old ones. 1t was not expected tia1 INV
honds would be taken mp at maturity Ih''e - ,'
,,o..,,iIity OF n receiver being appointed, Us tlo
icwc,v (, doing good and profitable business al
prescnt Il cannot be said that am npt lL'c''No"
I'm the success Of the company. for | am the """'l
~ - 600 600 Of stock. and II tic company loses any
fling | should be the greatest sufferer Things are
~ thcy are now because had a bad partner some
vcors AGO II IS we'll known that he mismanag"u the
business when was In Europe and when IL
tnrn,d It became necessary TO issue bonds 10 commune
the business and cover the Indebtedness
me committee appointed to make m Investigation
viii meet next Monday night at the ~ NI'ho"S
Eank
.rmprovcmcnts were made no dJub' when the money
cxn. ndc I'm that direction should have been u''H d"
nav debts said Mr. flIcss, who holds fIoV"'
- the bonds 1T was great surprise To me "h,h
( learned that the company had failed TO meet tue
interest due The plant Is one Of the finest OF IN MI"
In the country. ana uc bonds are u goa a. sf
-, ionuarv / The boudhodcrs Will not ask tpr %
,,cc,v.r and tho business At tho brewery VIII D."
u'1 norr n ar PRESIDENT q the Chatham Nni mai
~ 60 4. tho president ~ tho brewery company.
. ~ Tho opinion that tho company f. "ll rcht. Inc
ionds arc epod.- sad Ac. and ID" cpulhht is Ut "
-, ,,,dt,ion When the reo~sani1ati'n take pace
,v,rythlug viii De nrrau god stiii-C prily 10 't'ri
Ioiy Tho shortage IN ~" treasury was no d''b'
caused by maklpc numerous improvements