New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-15
PRICE FIVE CENTS.
JAMES G. BEEMER REMOVED
HE IS CHARGED WITH BREACH OF TRUST.

THE PRESIDENT OF THE LLOYDS PLATE GLASS
INSURANCE COMPANY LOSES HIS PLACE.
James G. Beemer, president of the Lloyds Plau
Glass Insurance Company, OF No 62 Wllllam-st.s
has been removed from his office by the Board OF
Directors for breach Of trust, and William 7.
Woods who for several years has been secretary
Of the company, has been elected president. Mr.
I1cemer's transactions have been under investiga-
ton for some time, and late Friday afternoon
an adjourned meeting of the Board OF Directors
unanimously adopted the following resolution:
Whereas, Heretofore at a meeting OF the Board Of n
recors company duly organized charges Of mie
conduct in Office the part OF James G.. Beemer. -
president Of the company were duly presented in writing
and after full opportunity to said James g. Bcemer -
be heard explanation Of such charges. and upon saue
factory evidence such ehargc have been sustained by
Of the directors; and
Whereas. 1t is considered by the board that such
charges OF such % render improper ana
against Of the company and its stockhodeN
that said James G. Beemer should longer occupy The
place OF president; II was. therefore.
Resolved That said James q. Beemer be and hereby
removed from the Office Of president OF this company
secretary be directed forthwith ~ notify him of
such removal.
Then s. A. Warner, one Of the directors, n.
signed to make room for Mr.. Woods on the board,
and Mr. Woods at once elected president.
c. f. w. Chambers was appointed to succeed him
as secretary d. B. llalstead remains as vice
president, though he has been partisan of Mr..
Beemer in the troubles which eliminated in tho
removal
Mr. Woods and the directors in general abso-
lutey declined to discuss the subject or tell tho
meaning of the resolution last night, giving as
reason that they did not care to inJure Mr.
Beemer The following statement Of the facts
was. however, obtained from one Of the largest
stockholders and most influential directors:
o,nht
Finance Committee $4,000 of bonds OF tho
Pennsylvania Plate Glass Company, OF Even
Vile. Penn, of which he vice-president. rep
resentino that the glass company would not sell
them at less than par. The transaction was
carried on through A. C. Boyd, broker. Inc
insurance company afterward discovered that
Mr. Becmer made large commission, supposed
TO amount to g., 900 MORE on the sale When
he was questioned he declined TO say whether ne
got 90 per cent or "5 per cent, as some sup
posed, and would not make statement. as ne
said he did not want to crimlnate hlinse1. no
wns getting at the time salary Of $4,000
year from the insurance company. For sew
eral years there has been feud between
the president and secretary Mr.. Beemer, IL
is said, took every opportunity 70 annoy
and domineer over Mr.. Woods. and continued
to do so in spite of remonstrance from the direc-
tors About a month ago, a nlcetlnH was "ci" w
try to reconcile the two. and then the directors
were surprised to learn that Mr.. l}eemer was
vice-president of the Pennsylvania Plate Glass
Company, and was drawing $4,000 from IT,
This led 10 the investigation II is rumored that
the glass company has dropped him from that
office Several meetings of the insurance COM
pany's directors were held ana MIR. Beemer APP
pesrcd and made his statements. He was asked
to resign, as it would be less disasreeable to
him, but he refused. Then. af s, cx-Judee
Ernest Hall had given an opinion sN he could
he legally removed, that course was taken.
Mr. Becmer lives in Yonkers. He is now
quite i'll with nervous prostration. and conlined
70 his house. One of the directors, IN speaking
of The case. said ., L.,d
IL was much surprised and greatly, sh9cked;
had had many dealings with him ana pelleye,
him n Thoroughly honorable man, as all OF us diu
Though the vote unanimous at the meet
inc there were few absences. Some men WHO
have been loude>t in their support or Mr' Bremer
from the beginning Of the trouble did not appcJr
TO support him. d. B. Iastead, the 'iceprsi'
dent, said last night: -, , ,s ,,h.r
NJ fought all through for Mr.. leeiner, ana wuen
found | could accomplish nothing l stayed
away and let them do as they Ikea. ha'en'
a word 10 say about the removal ,c
The directors of the company were James =
OotIev' John IT. Seed, ID. T. IIa.tead, John j.
Drake George NJ Olcott. S. \. Warner, Henry
rpaH, rna;n Wiuiam ID. Chase. Benjamin Sturgis,
william A. Nash, +. A. Guild and Henry b. nan