The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-18
Lively Annual Meeting OF stockhold-
ers of the storm-Tossed Distiliing
and CattIe-Feeding Company.
MR.. GREENHUT DEPosED
AND DIRECTORS CHOSEN ny THE
EXPERIMENTATION COMMITTEES.
The New management Threatened by
the Oustcd Presfdcnt--IIis Report
Full OF Sensational Charges.

days annual stockholders meeting OF the
Distililng and Cattle Feeding Company by
storm. and when they adjourned had de-
posed ex-President Greenhut, elected a
fun board OF directors and empowered the
board to take any necessary action to-
wards recovering. from the trusts late Of
ficials any property that may be due. to the
corporation. But Mr.. Greenhut was not az
all docie. being present at the meeting
with objections at every turn. refusing to
resign as director: and before adjournment
he personally superintended the serving of
papers in eleven libel suits of $4,000 each
The suits were served on the members Of
the reorganization committee Messrs. r..
b. Hartshorne, John /. Waterbury. Il. W.
Lockwood, Jules Bache and w. L. Hutton.
and attorney Levy Mayer, of Chicago:
attorney Nathan Blur, of New York: Re-
ceiver John McNulta and the three experts
who have been examining the trusts books
The ex-president further made the session
interesting by reading a decidedly warm
annual report. and by intimating that no
intended to fight the new management 10
a finish.
Following is the company's new directors.
Samuel NJ. Rice. of New York; I. III. Went
worth, of New York; j. M. Hutton, of Gin
cinnati. o.; William j. Meyer. OF Chicago;
Walter NJ. Schftel of New York; John M.
Mott of Chicago; Floyd e. Jennison, OF
Chicago. AS there was no quorum Of di-
rectors present. the election of officers
will be held in Chicago in the near future,
when Samuel NJ. Rice, of New York, Will
very probably be chosen to succeed
Joseph b. Greenhut as president
When the meeting was called to order, at
IL o'clock, at the trust headquarters, there
were only about thirty stockholders and
representatives present, but they repre-
sented a large majority of the stock Of the
trust, and the only opposition in sight was
j. B. Greenhut, his son Ben and their at
torney, J. NJ Jack, representing a total OF
1,119 shares of stock Mr.. Grecnhut took
the chair and called the meeting TO order,
suggesting that a chairman be chosen.
Chairman r. H. Hartshorne, of the reor-
ganization committee, was elected, and,
after preliminary business, the minutes OF
last years meeting were read and, on mo-
ton of Levy Mayer. We're not approved. the
Greenhuts voting against the motion. After
a wordy argument the minutes were re-
ferred to the incoming board for action. A
recess for lunch followed, and the second
session opened with the acceptance of tho
designations as directors of John Beggs, j.
w. Freiberg, w. n. Hobart and l.. III.
Green. In submitting the designations, Mr..
Greenhut said they were rendered in con-
sideration that he retain his position as
director.
GREENHUTS REPORT.
Then came the reading of the ex-presi-
dents report. 1t was awaited with great
interest, as Mr.. Greenhut had heretofore
positively refused to diacuss the numerous
charges against him, and his report was the
first refutation he had made. He declared
his accusers to be slanderers and falsifiers,
denied absolutely all charges OF mlsman-
agement and asserted that the present re-
ceivership is proving disastrous to the COM
pany The report was, in part, as follows:
,,,.ad. 80 d.as nave served the company and It's
Feeders Trust, as president for the past
eight years during which time l have
given my undivided attention and best
Judgment, under the circumstances. to the
management of the company's business
As a complete answer to the repeated ac-
cusations that l have controlled the ar
fairs of the company and that the directors
had little or no voice in it's management or
the disposition of its funds, / append TO this
director as filed in the United States Court
on the first day Of February, 1885, The
recent very general, oft repeated acclIsa-
tions and charges against myself and fell
low-directors i wish here to stigmatize an
that time and opportunity viii soon be at
hand when the utter groundlessness of
these sianderous charges can and will be
as they deserve. / defy amy one to prove
any willful mismanagement or misappropri-
alton OF the company's funds. that i, or
any of the directors, have been parties to
any contract or contracts for our personal
benefit. detrimental to the best interests
or the company or that any Of the official
statements which have been given to stock
holders, from. time to time. were Otherwise
than true and fully warranted by the facts
when the statements were made.
"On Dec. II, 1894, your directors sent you
dition and affairs of the company. Instead
OF responding to the candid and truthful
statements of the directors. self-consti-
tuted committee, without any investigation,
sent the circulars to the stockholders, in
sinuating all manner OF dishonesty and
mismanagement by the board of directors.
and heaping upon us abuse and by means
OF such charges. utterly without founda-
tion in fact. were enabled to secure the
holders In view of the unwarrantable att
tack ON the management. there seems to
tion of the company and winding up OF its
affairs. 1T has been frequently asserted
placing the company in the hands OF re-
The absurdity and unreliable char
acter of such assertions is best shown by
ceiver has been obliged to borrow large
sums of money to keep the business In
has continued to claim the business was in
q prosperous condition and that he was
making large profits for the stockholders.
WORK OF THE EXPERTS.
''To carry out their programme and give
roneous and false statements repeatedly
made and sent out. the reorganization COM
mittee furnished experts to the receivers
for the examination of the books and, as
intended and anticipated 1t
did not take the so-called experts any
great length of time to furnish sensational
items for publication in the papers and use
by the reorganization committee, TO aid In
carrying out their scheme. AT the
proper time and in the proper~>
place the startling revelations-~~-6 OF
the so-called experts paraded In
the daily press, will be fully explained.
/ desire TO say that every contract and
every item of expenditure and all the bust
ness OF the company was with the APP
prcval and in accordance with the honest
Judgment of the directors at the time and
for the best interests of the company. After
the receivers. were appointed l personally
gave them all the assistance desired. and
should have continued 10 do so but for the
and unjustifable assault on
me personally by breaking into my safe
and examining. my papers. propose 20
resent this indignity and encroachmenf on
my private rights 20 the fullest extent OF
the law.