New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-03-28
WHISK EI TR IST DISCLOS hEo
ANOTHER INSTALMENT FROM lhE DUN"
VAST SUMS DIVERTED FROM THE sTochHoi'D
ERS-A HALE MILLION CHARGED TO STA

VAST SUNS DIVERTED FROM THE sTOChhoi'D
ERS-A HALF MILLION CHARGED TO STA
TIsTIcs..- -p1sGRACEFTL REVELATIONS.
Chicago. March e7-It was thought that the ao
stract of the report OF the experts appointed 10
examine the financial affairs of the Nhlskey lrusi
which was issued Monday. covered all the aleSed
questionable transi actions Of the men in control ii
1891 and 1892 but the fun report for ne s1me ens'h
of time which came from the printers this after
noon shows a state Of affairs which is openly said
by those I'm control now to be disgracefu a.
anything which has yet appeared. ChaTgeS are h'ic
that the money of the stockholders was used on seN
erlI occasions for stock-jobbinG Transactions ana
the Illinois law which restrains directors OF COY
poration from purchasing stock for themselves j.
repeatedly violated IN both spirit and letter indeF
the cuso OF managers OF dsti.leries 1t Is alie- .
the directors ordered to De paid 10 themselves AR
sums besides drawing regular stipend FOR CONG
their duty by the sfockhollers.
With the report Of tn experts is issued a tape
OF much interest 20 those who ar- IN the n'ise
showing total o. receipts ard expenditures. Su ,
indefinite, items as Statistics travelling t-
pcnses" "suulry expcnses"-al amounting 10
large sums or what are considered large sums io'
the purposes specified. plcnufuiy sc";t'i"'
throughout the statement. During 1891 alon" me sal
arv list amounts to over $}li0n OF this sum only
n little over SG3 Goa is put down as salaries proper,
s,,1oo is charged upon the books as compensation
for managers OF dlstilicrles under the hvo-y'fr
contract L. is known that the directors apponir j.
themselves managers. and drew these sI,arie'
themselves. As The report only covers period o'
two years. carrying t1c affairs of the company %
March b. 1To the end of the fiscal year. II VII D.
seen from this estimate of one years "compenNttl'r
to managers that an enormous SUN had been oN
pended FOR this purpose up to the time Oh" receive
took charge the property ana began TO pat II on
paying basis
one Of the most sensational items or the table Of
expenditures for 1891 APPEARS under the caption Re
bate Investment Account Purchase " u. d I. r.
Company's stock Seo.6,3 o." auI coupled with inis
Is the entry: Loans 10 Moore & Schcy. Ne's'n
Morris and Woolner 4 Gibson. 2iG.lH 80. the total
being N36SlN 4S all OF which. it is charged. was
used by the directors for speculation in their own
stock
The firm " Moore & Schlcy is brokerage firm
and is not in the habit ~ borrowing sums Of ,he
s.zc described. II &. alleged that The money Nas
put into their hands TO hc used simply for bearing
the market. Besides this % IS admitted 10y ihe
entry that the directors bought the stock for thom
selves which is plainly contrary 10 tho Illinois aw
aS il has been construed
The s;aiemcn, for lNe abounds In The same Kind
Of transactions. carefully covered under enirief
which would m!slcad one not thoroughly conversant
| with the affairs Of the Trust Although The tr"a'-
ury stock is put down as being eo'l AT ~ share.
II Is alleged that much ~ This stock sold at SO
the holders - it retaining f for rise. and neirg
gamers hy trc actual difference of s. on Zach shaf"
which ON m, 4a>i shares sold would have amount
- 20 x04 81 All this t. 10 addition 20 the f"nct
ON these |h"i"s 'A"'.I 't III" ''''I I'n'' "''" .''
i,s par value and the price az which 1t Mas pur-
,.,.... , ...-,.. &, ..,.,.. NJ, tho a ..,
'h"S''' ''''''''" " ''
shares
Ag.i. under the h.ti ~ Rebate Investment
.,-.. .., ,.t., .t
. Fund sal" of STOCK. S-''.-. 'piI''' WI" ~
itou. Return Of loans. t'' th'r" - "alI 10 ".
concealed interesting story OF hrar.ns IN" $40 <
! for purposes of personal e'ln na,r ne Eai.'
/ head OF 'Rcbdt" luFrsffu'ni Account .Ni .h'r '.
! is made IN" cntr. ot 10. purchase "i ih" 70,
| morighg" honds or IN" 81. a"i l'i''. ~ ~
| Sl@"si. more money. II Is S1lI man % tn- a..
iiSlileI{ l9 N'4 'H. ""ltN ~" q. .t.. IL,
entry or another pNf' nus u' '", .' ,'
own stock th!s uHr NA''- I"'9 WIZ -'' ''
! purpose 0f hulIlNG m" iiiN''
Probably ior he ilfsi I'm, I'D" 'ofi''i ''kui,' ''
! the purcna-" ~ m Shi'. .'4' ana '''+H''' l.'