New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1895-04-17
A MILLION MORE MISSING.
THE WHIsKEY TRUSTS BALANCE SHEET
AS IT APPEARED ON MARCH 81 1893.

AS IT APPEARED ON MARCH 81 1S95
| VAST SUMS WHICH THE EXPERTS ARE UNABLE
TO TRACE IN THE ooKs-IRREGULARITIEs IN
| THE PURCHASE OF VARIOUS D1sTTLERIEs-
| r,t, TRUSTS METHOD OF BOOKKEEP
| ING SEVERELY CRITICISED
| Chicago, April 16-Of the many sensations FUR
nished by the Whiskey Trust since Joseph b'
| Greenhut first had himself appointed receiver
and was ousted by the stockholders. none ap-
! proach in magnitude that furnished by the filing
with Judge Showalter. in the United States Cir
cult Court this afternoon. Of the balance-sheet
| OF the company as it appeared on March 81 lS9'.
Practically the whole period Of the alleged In
iquitous control of the Greenhut faction Is covered
! by the figures given therein which are startling
! even to those who had been told in advance that
! disclosures Of an unusual nature were to be
made. The sum of 81 39443 is totally unac-
| counted for, to say nothing of the other items
| which appear correct at first glance ana which
| offset by figures the books.
| The first irregular item occurs in the purchase
Of the Shufeldt and Calumet distilleries. The
| net cost of these diseres. after charging in
ventory to capital in operating plants. Is put
down at 81 634 279 The amount derived from the
sale Of s249Si of treasury stock these are me
shares which the company sold itselO is then
deducted. leaving in round numbers S60,O0O. A
note by the experts in regard to this purchase
charges that the sum of s244443 is unaccounted
FOR on the books The note is az follows:
We find no vouchers showing the payments for
the Shufeldt distillery. We find only a check for
the amount charged on the books sl6OlCo, with
aggregqtns S$;7 3 and Of the balancs Of S4i 4G'
Bank Of Chicago, Of which the books take no ac-
Another note in the line is follows:
To meet cash payments required by contracts for
purchase OF Calumet diStieTy he ooWnE WI s, 'w9
S II Ncns Rank GhagS sS e1d M aSp9S or or
check showing to whom paid.
In the opinion Of those who are in a position
to know. while no open charge be made
this last information. it shows a method Of book
keeping # nothing more. which IS. to say the
least, exceedingly irregular. Coming 20 tho pur
chase of the star. Crescent. Central and Ne
braska disileries. the report Of the experts says:
We find no voucher or 9;her evidence OF the hey ex;
Between November Is and 60 sa3 ani paid through
the German American National Bank OF Peoria,
OF these dstilierles
Five matured notes Of Samuel Woolner in favor
of the Star and Crescent and the Central and Ne
braska distilleries. all paid by exchange through
the German-Amcrican National Bank amounted
TO s1s5,00O; and 100000 was paid TO Samuel WOOL
ner. for which there is no voucher and 10 which
the experts have affixed the note "Expanation re-
CURED
The total deductions from the cost o: the pur-
chase OF these disteres are put down at Sls5.O00,
which is the second discrepancy shown in the re-
port. The third discrepancy comes under the
head OF Items to be accounted for" The sum Of
these Is s5l0,l35. They are itemized as follows:
Payments to J.. B. Greenhut. January Y iS@
through Gerrnan-American National Bank 500
Payments to Sa%us a WH0lnsT JSSPyaX < @
eeIled cheek missing. .aCo 800. co.,
c,ek on cenra 1t Aqs Tr"s co%psny Se%Torf
celled check missing ssi 600 ,,- ,-... .....-
Copnselman bay or compapy S2oa 793 Bought on
eS Esns @ No o Gy H
ton being the words settlement OF purchase,
Check on German American National Bank. dated
December q. 1892 $4,000. tTh;s check MAS given 70
each IN favor sS" of Moore schey brokerage nrn
dated at NewY9rk and sisned by j. oria 81 GTeGRnI in
As With the preceding iem thf only in tBBe booRs
subsequent to the original entry)
This makes the total discrepancy under the
head Of 'itens to be accounted for about S'o4'-
703; but there is a credit in the central trust
Company, OF New-York, OF $244568 which re-
duces those figures to s5lO,135. This money is put
down as loss charged against investment ac-
counts in the report Of the experts; ana nG'e
says that the amount was written on aifeF thc
books had been closed for the fiscal year ~
1892 and that no details or information was
given The accounting for these large eXpendl-
lures among them loan TO II. L. Terrell trus-
tee Of s27 OOO is shown, say the experts in their
report, for the sole purpose Of agreeing win the
conpany's books; otherwise II would merit notice
only as one Of the methods used for accounting.
The following remarkable note closes the bal
ance-sheet:
The companys books under the charge OF the
treasurer who is also one Of the directors They
contain figures only which have been entered By the
bookkeeper without any Information as 10 ther
meaning except what the treasurer c@hose @ 70 sWe sN
clIrnstances. The understood me DOCKS,
but no else. except, possibly the directors hcce
IL has been and is impossibty 10 properly audit
the expenditures. which run into millions, from the
books In their present condition some ldea or the
total lack Of information IN the books Is given py
the notes attached In this report to some OF the
items.
Levi MAYER and S. d. Rice, Of the Reorgani2a-
tion Committee left here for Peoria this after
noon to attend the annual meeting or the trust
there Tomorrow
Peoria. H.. April 16.-The members OF the
Whiskey Trust Reorganization Committee who
arc here TO attend the annual meeting Of the
company have information that Greenhut will
resign from the presidency and not face the
stockholders in any way. not even presenting
renort for the year. 1t Is also understood that
no member Of the old directory will attend the
meeting which will be he'd tomorrow Re-
ceiver McNulta will ask the Court to cancel the
leases of seventy out Of eighty dstieres now
controlled by the Trust II is said that a syndi-
cato Of Peoria distillers has been organized TO
hid on the property Of the Trust in lump and,
falling to get II, will organize Pekih ana
Peoria trust because spirits can be produced
here cheaper than anywhere else