New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-01-01
THEY WANT A RECEIVER.
YUENGLING BREWERY STOCKHOLDERS
TAKE ACTION.
la COMMITTEE APPOINTED WITH FULL POWER 10
ACT FOR BOND AND ACKNOWLEDGEMENTS

A COMMITTEE APPOINTED WITH FULL POWER TO
ACT FOR BOND AND OBSERVATION-DISCLOSURES
MENr FROM THE OPPOSITION
AZ meeting Of the second mortgage bondhoid-
ers. who are also stockholders OF the d. q. iueng-
ling Brewery Company held yesterday afternoon
in the National Park Bank. It was announced that
napers had been served tho State Trust COM
pany. restraining them from taking action on inc
Saturday meeting; that suit In equity "ou'u 'e
begun and that immediate steps would be taken W
have a receiver appointed for the concern one
hundred and sixty thousand shares were repre-
sented.
Reporters were not admitted to the meeting. al
which the following were present; president ueoise
F. Baker of the First National Bank ana a,So
representing the First National Bank OF bet"e
hem. Penn: c. A. Schultz of the National BANK o.
pordou,.' Ca,l Hunter of the Citizens National
Rank of Newark: G. c. Wise Of the Newark '''S
National Bank: W. T. Potts. representing 'achson
e. Co.: Seymour r. Smith of the Hackettsto"h -N"-
tional Bank Theodore Little. OF the flrs' No
tional Bank OF Waterbury; Louis thurman vi
the First National Bank of Brewsters. ~ u; II.
u Cook of the Mechanics National Bank OF
Whitehall ~ Y; NJ !. Southland of the Merchants
National Bank of Newton. y. j., ana "iil'a"'
Duryea of Duryea Brothers
Ioujs r DOYLE. counsel for the National PARK
Bank late yesterday afternoon said that the With
ing had unanimously appointed conm. o oct VII" tbe
full power to take legal proceedings 10 prooeCo oe
d
Tee consists of Edward e. Poor vice-presldehl vi ee
National Park Bank; II. Fahnes,oGTnt; NJ hhner
dent ~ the First National Bank, and Jonn McSnel-
nev president of the Seventh National BANK. S,uEE
yesart Fish. president of the Illinois Cen'ra hai'
road Company, presided AT the ineetlpg Quo
Iouis Marshall, OF the firm or tntermyeT' rug
genbeimer e Marshall. who represent Mr. Betz. al
his office yesterday gave out The following s'aUe
ment: ,-,. ..oro M, MIR
..The bonds held by the minority were MOI pur-
chased as an Impression seems to prevail IN Ger
tain directions but they received the bonds Tor cieu
A. mostly discounted notes WI ich they heid agans'
the company. These bonds. though issued HeT i,
Der 81. 1893 were TO bear lhieIest .h jn,e "a
nav either that interest or the interest," que on July
iTiSai and again December 81. 1894 TO nave palu
the amounts OF these various interests wouiu mean
that ist so much money would have 10 De taken
out OF the business. Every one knows tnat ane
ready cash TO big brewery business anu
was thought best to let the money stay in the
business and so help increase its value =,
"Hence last Saturdays meeting was calleu anu 4,
resolution introduced to postpone paying dvidencs
until July l. 1896. and to begin the payment %. III
ferests due between July l. 1892 ana July L. Ise OF
January /. 1900 Our client Mr. betz. mas s $500
worth of bonds, which is more than tnree-louiths
of the bonds outstanding. namely, SioW. Al tne
necessary formalities were gone through Win !"
calling last Saturdays meeting