The sun., 1893-06-22
Highest in Strength-U. S. Govt Rep.
ROYAL.
sBAKlMG~
POWDER
ABSOLUTELY PURE
CORDdGE REORGANIZI1ION.
Working Capita, ma n Sound Finnnei,
Method Ncedcd-The Committees Plan.


Working Capita, nnd Sound Financial
Method Nccdcd-The Committees PInn.
,r.ssrs Goorgo g. Maroun n, Rorinc Nh.
Eoun d Co, Ernst Thalmann OF IadenburG.
ThaImann q Co. and Gustav IT. Gossler Of a.
,.t., q r. 49,. L.a.,.,i,.o, ...-.,..I. H.,
AmsihcR Co. the coinnit.ee appointed TO IN
vestlgstc the affairs OF the National Cordaco
Company and to devise plan Tor its reorcani-
Zatlon. submitted tnoit report Yesterday Inc
committee says that Its examination has led
Az - n,'"Io, W. s,,.,a., - ,ho oon,,, na 49,.
the hnahciai success Oh the company mas Deen
did not nresent itself Ms A prartical difficulty
-, .,,,, ~ s..,.nai,a.o 80 diroo,nrs ~ ,o... 49,
commercial and financial markets remained
in n normal condition except that IL has obyi-
oualv ,ncro,.ed tho comnanv,s exneps,s on5
to q certain eNtcnt. diverted the attention OF
tho officers and directors from the manage
ment OF the manufacturing business OF the
company"
Alter the appointment OF heceivers + +. [.
iouis "Lu W. "cn,'i , i1or.'' r 'no nm vi De-
lotto. Dcvcr, Griiliths AZ Co.. accoutants. was
hired to make thorough investigation OF the
books OF the company. The accountants find
thot ,b .noo,. yol,,o 81 I, ossc,s l,ft,r ,rritiu,
tiial tle pook Nalue oi ali uss''S Naller Wrltlhs
Off the amounts recommended by the commit
tee) amounts to SIS. 49,. .517,S 81 and that the
liabilities exclusive of capital stock amount to
ShioSvt Sv ,i, - ;,i, among n % in"sc aisS,S are IN
cluUcu twenty mills anu IlHlliS all RtlnH con-
Germs. Of which eight are held under lease from
inrrnn i'm, IN n common .torE from sin Iuu NM
,Jt n NM -, H., ~
toS-"Noo'uo'' W nS 'iiow u ", .'io " 'iuS "a .ne
company, mas not yet Dcen carried INTO tnS
books of account. When this shall have been
uonc an increase in the book value OF assets
will he shown
m. 90 ., -, n, 0nJ ..on nv n mi, otion ~ +ha
nc ~ ~. ,n ~, -. ,S'. ". ~
accounts tnat plioI 70 Oc'ouel. lc'l. sunury
operations in merchandise. OF Il more or less
speculative character. and not likely to occur
arain were mndc. which resulted in loss TO
iLn rnr,nnnv II is dun hovover to stn thar
some OF mo uireetorS WHO auNochteu sucn
transactions voluntarily mhue Eoou the loss
40 sustained nt about the time II occurred
that tho comIany itself has not been the loser
thereby 1t is suggested that the number OF
directors should be Increased anu majority
OF the present directors should resign TO make
room lor, new mentors. 10 be approved ,py the
KeorRani2atlon COMMITTEE anu hy the lnlted
states trust Company. Inc committee lur-
ther says:
THIS having been done radical changes and reduc-
uoh OF EXPENSES ~ many uepartmehts can be aaAan.
@aseIusn @ enectsu new e espe.,a.y IN
otnces aboIi.hed Rehabilitation OF niauagenhen; Sc.
cured and provision Tor the prot.clon and pro
notion Of the business interests Of hc company IN ali
directions whether tas business b. continued by the
ptesent organization or ny u new organization 10 De
rn militia. .s,.c,,,v thu a,,r
cia part o. the Should be put under the
ngeni-nt of n finance committee N order continue
tie busnes. OF the .ompany money must be provided
to Pay tr existing debts and sappy 1t with adequate
"T T .'Hs m nah..a @ ,,o, ,o- ,-ov1i,, ,bo.. r.,o,,
fuuus Is Nv lie Voluntary action of the STOCK
aud creC6rs OF the company II the s,HcS holders aud