New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-04-19
An UNFOUNDED ATTACK.
litter COLLAPSE OF A BAsELEss SUIT.
ERNEST BERKELEY BALCH's ASSAULT ON THE
NATIONAL CORDAGE COMPANY THROWN
OUT OF COURT.

ERNEST BERKELEY BALCHs ASSAULT ON THE
NATIONAL coRDAGE COMPANY THROWN
OUT OF COURT.
The Vice Chancellors decision at Jersey City yester
day refusing to make permanent the Injunction asheu o
by Ernest Berkeley Bach in his suit against the va
ionai Cordage Company. and his arguments In giving
his decision ale worthy Of more than passing nouce
The American public is accustomed so freaueh'N "
hear OF deals and strikes In tlso political arena 'h't
slight notice Is taken Of them. with the for'"a""" "
large lndus tral and trading companies. however S'ie
people seem to q chance of making money Ny az
lacking them reasoning that many corporations WOMB
sooner pay something than be subjected TO tie 'o"o
loss Of time and expense Of meeting ana ans"er"e
suc, venlal strikes consequently the unfouded ano
sensational attacks which have been MADE Dy Mr. D"o
upon the National CoTdagc Company.
Mr. galcb claims TO be n stockholder in the company
and has entered suits against It, the hrst ah "o'
10 compel the Cordage Company to give MIN ui''o
stock and the second to restrain the company from
paving dividends The mental condition OF tho MAJ,
who In one breath asserts that stock Is no good '
II Is earning no dividends and that the company issn
ing H. is not honestly managed. and In the next ofe"'"
clamors for more of TIE worthless coinHouly' 10.
to say the least, peculiar Inc aps"iny
Mr. Balch's assertion that the Natlohai 'o'u-
age Company Win It's $l5,0oO,0OO OF capital
Is poving out annually al, 100000 In DIVIDENDS
e losing money all the time, and that 1t has never
earned any dividends at all, IS apparent 10 any
busincss man and needs contradiction. IL carfieo
IFS own answer The folly Of IA young man "i'h ho
general or special business experience attempting 10
RIM the affairs Of great industrial corporation re-
qulres comment ,.
Yesterdays proceedings clearly show that Mr. naie'
has not the personal and intimate knowledge OIL tno
affairs OF this company which lie claims to possess
md that he never occupied any confidential OF I'LL
portnnt office In connection with IT, lie mas sue
ceeded in gaining certain amount OF publicity through
his alleged inside Information which was to prove
a great financial sensation. Evidently Mr. Balch mas
absolutely no inside information and the sensation
exts only In his fervd nation. The fact should not
be lost sight Of that fortunately there are laws framed
osneciollv for the protection OF individuals and cor
porations against the raids OF malicious or irrespoh-
sibe persons who seek by Misrepresentation ana CIT
culaton OF false tatements and afdavts 10 oeneht
themselves by the injury Of others, ana VINO most
nearly resemble privateers of the old days OF tie
spanish Main VINO lived by "holdng up" any one they
could capture and then requesting them TO Walk tne
nlank so TINT no further trouble might cnsue
An individual who while receiving pay from his
EMPLOYERS IS all the time scheming to hnd oht any
thing he can with the view us soon ms possible Vi
Offering himself for sale Is not only beneath con
tempt but entirely unworthy of credence.
The Vice Chancellor's ruling yesterday e'fecualy
dIsposes OF the whole matter and places 1t before the
public In proper Hight. lie stated that the aihdavlts
n, the directors OF the National Coragc Company dis
unctly showed that there were no grounds tof tne
action and that they proved most 0yerwnennneB s'
Mr. Balchs statements not only utterly ureesoh
able hut without any basis Of facts TO support them
that the en S sea on mot an 'ps
OF stock In effort 70 depreciate some hneen ntnoe
Of corporate capital and n,re nunerS1s Ot tbras
the various aflidayts on both sides mat mere must
eorcsore r"fsed Mr. Balchs motion, which he
sdered ought to have been made,