The daily morning journal and courier., 1895-04-18
PRES. GREENHUT IS OUSTED.
HE IS REMOVED AS PRESLD ENT or
 THE VHIsKEY TRUST.

the Old Board of Directors and Spoke in Bitter Terms of the Breaking Open of His
 Safe-He Called Levi Mayer Liar and
 Then Sues Him For Slander.
 Peoria, III, April 17-Joseph B. Green hut was removed from the presidency and directory of the Distlling and Cat
 tie Feeding company to-day at the an- nual meeting of the stockholders after refusing to resign. S. M. Rice of New York city is slated as his successor. Contrary to predictions MT. Greenhut
 was at the meeting. He was the only one of the old directors to face the new control. R. B. Hartshorne was elected chairman and would have been made a director had he been willing to accept the position. Nearly 35O,00O shares of
 stock were represented, of which the | minority-Greenhut- only Ill., T 019. designations were read from the
 remaining directors, except MT. Green
 hut, and were promptly accepted. Upon
 motion of Levi Mayer, Greenhut was
 asked to resign. This he declined to do
 and upon a motion to remove him had
 his attorney state to the stockholders
 that it was not i'm their power to do so.
 Notwithstanding a vote was taken and
 he was removed under protest. He will
 carry the matter into the courts. The
 following directors were then elected:
 S. M. Rice, of New York, J. M. Hutton
 of Cincinnati T. D. Wentworth of New
 York, w. J. Mayer of Chicago, w. M.
 Scheftel of New York, J. M Mott of
 Chicago, and Floyd D. Jennison of New
 York.
 It was entered in the record that MT.
 Scheftel was elected to succeed Green hut, so as to simplify the litigation to
 follow. MT. Greenhut did not want to read his report to his enemies, but upon x the insistence he read it.
 In his report he said he had served the :, company and Its predecessors for eight years to the best of his ability. He as- serted that some of the vital mistakes in the conduct Of the business were made against his Judgment and protest The recent charges against himself and fellow directors he stigmatized as false X and malicious, and he hoped that the 1! groundlessness of these islanders would | soon be established and the slanderers | dealt with as they deserved. He de- q fled any one to prove any willful mis- management or misrepresentation of the | company's funds, or that he or any of | Y the directors had been parties to any | contract for their personal benefit, det- X rimental to the best interests of the | company or that any of the official ' statements given to stockholders were otherwise than true and warranted by | C,facts when the statements were made. 7 He defended the action of the old | hoard of directors in placing the com 5oany in the hands of receivers, assert Hing that this was made necessary by | the precarious financial condition of the company He said the receivers had found the books of the company in straight and honest condition. This did not suit the reorganization commit tee and experts were employed with Instructions to find irregularities and < to furnish sensations for the newspa- pers He asserted that he could and would refute every lrregularity claimed by the experts,
 He spoke in bitter terms of the break ing open of his safe, and said he would prosecute the offenders to the fullest eX- tent of the law. He presented figures to show the poor financial condition of the company, and said that the state ment that General McNulta. was run I ming things smoothly and profitably was untrue and absurd, and that mex perienced men could not possibly do what experienced men found impossi- ble.
 Mr. Greenhut declared that there never could be any success with the properties on the plan proposed by the reorganization committee At the time MT. Mayer was offering the resolution for the removal of MT. Greenhut the latter told MT. Mayer that he was liar and had run to the end of his rope. MT. Greenhut was removed on the ( charge that he was false in his trust and an enemy to the company
 MT Mayer had hardly concluded when Z B constable entered and served him with i a summons in suit for $50,0 coo for slan- ( der brought by Greenhut. Notices were f also served on the five members of the i reorganization committee, Receiver Me- I 2Nulta and Attorney Blur, in suits for f a similar amount, all returnable in ( Peoria on the first Monday in May. ( aWhen the gentlemen summoned were spoken to they laughed and ioked, say c ling that the action was ridiculous and C childish. S
 The last act of the stock holders was c to rescind the action of the last annual t | 'tiating of the remainder of the eight | millions of bonds before provided for f and the new directors are authorized t to float them. V
 The bonds amount to over $4, ,O00, 900. ! The meeting then adjourned to May 8, I S96. a
 MT. Greenhut after the meeting said: o
 "They seem to have their own way T his afternoon, but the tables will yet h be turned I have no doubt of being t Exonerated, and cannot be legally re- lt hoved. The meeting this afternoon was Snly a confab of Wall street jobbers,
 nd as my removal is illegal no acts of he new board will amount to anything, {, yith Scheftel casting an illegal vote"
 The new directors will meet in Chica- o 10 soon to elect officers, d
 Suicide Not Identified. n South Birmingham, Mass, April 17. c he body of the Winthrop house sui H