New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-01-16
]. G. REEMER'S STATEMENT.
HE DECLARES THAT THERE WAS no JUSTLY.
ABLE REASON FOR HIS REMOVAL.

He DECLARES THAT THERE WAS no JUsTIFI
ABLE REASON FOR HIS REMOVAL.
TO the Editor Of The Tribune
Sir very prominent place is given TO an article
headed "Jamcs c. Beemcr Remoy Cd in your paper
OF today unable 10 answer II at length Mt this
ime having been Ill for several weeks and forbidden
by my physician business but cannot let II
go altogether unchaenged suffice IL 10 say that the
malice of the insinuation MIR. Wood, and the
directors general absolutely declined TO discuss the
subject, or tell the meaning of the resolution last
night. giving. MS a reason that they did 10
injure Mr. Beemer" is shown by the fact that the
luton referred TO must have been given the press by
Mr.. Woods. somebody In authority The
directors, who make the many false statements for
some reason do not give their names had the
authority Of the board of directors OF the Loyds for
becoming connected with the 'yvana Plate Glass
Company, they thinking H. as it has proved. valuable
connection for the LlOydS. have been its vice prcs
dent for almost two years This was one OF the SO
called charges made by George VI. Ocot and It
dismissed by the board. In regard 20 the $4,000 Of
bonds. which are perfectly good and have paid per
regularly, this transaction took place years
ago. They part Of puchas" Of $4,000 made
by me at less than par under an agreement not 10
dispose Of any Of them at less than par and interest
This straightforward explanation made nv 20
the Finance Committee and resolution WAS passed
by that committee rcc.ting that a. The explanation o!
the president beng satisfactory the tondS 10 pnf
chased as appears by the minutes o. the committee
approved by the hoard OF directors. have been re
elected twice since thesr ordered purchased
No charge of breach of trust dishonesty can lie
against
founded the business about eighteen years ago
and II has been wonderfully successful under my man
agement. Two years go the capital increased
from 500 900 TO s25O,000 by the payment OF a 100
per cent dividend 20 the stockholders. and the last
sale of the stock Mt 900. the dividends being 4
per cent quarterly, Is per cent per annum on the
increased capital. Of which 100000 was dividend.
Not content with this, secret meeting was recently
held at the Downtown Club by virtue of notice
marked strictly confidential" signed by George NJ
Olcott OF which had knowledge and over
champagne lunch some OF the directors proceeded TO
parcel out the Offices and form n combination to suit
their own interests. ! asked TO resign Ivy
composed OF George NJ. Olcott and Henry
Coffin as the first intima'ion had Of the affair. In
reply TO my question as to whether there were any
charges against my integrity | was told there was
none ] asked II there were any charges OF mismah-
had not treated the secretary, W. J. Woods. C0ur
ieously who was slated to succeed me rs president:
thereupon promptly declined TO resign. knowing OF
no reason why should do so.
The recent death OF Charles Jones. the counsel "i
the company from its organization. ana Within t!'
last month the sudden death OF Thomas W Sr"m;'
ness for which these people are I" some "N'tul
csponsble by their cruel treatment, have let me
for the time being somewhat dei"ncrl"Ss. ia" nov
president l. The brOtherin-law 0i one 81 W" "a
rectors The new secretary Is the sam" person VITO
was urged some years ago for Nlc'lr,- h",i' ~
another director. The new counsel J. II hrn'i'I "'
another director sooner or 1i,, me Iacn ~ NJ
will he brought out. JAMES u. bHh"'"'
Workers, Jan. -, 1893.