The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-04-18

= heavy loser The receiver kindly main
eined the combination prices, and stored
pis goods, while competitive distiilers un-
beaded their stock at paying prices, eleav-
ing the receiver, at the date OF the dis
ufRcsured prodpcf On hama to be sold at
less than cost, while his competitors, SELL
Ing their goods at a profit while he. was
doubtedly will store, while the goods OF
the company are being put upon the market
requires but little imagination to determine
that the assets of the company have been
materially reduced since its affairs were
placed in the hands OF receiver.
The report was referred. and then Levy
Mayer moved that Mr.. Greenhut be re-
quested to resign as director. His motion
Was carried but he positively refused. Mr..
Mayer was his feet in an instant with
set o. not resolutions REMOVING Gre arl-
Gus charges already made against that oHl-
ciai The ex-president lost his temper
you're just about reaching the end of your
rope. No removal you make will be legal.
NOTICE OF PROTEST FILED.
The resolutions were. however, adopted
with only the Greenhuts dissenting. and the
latter's attorney filed notice of protest, al
aeging the action to be illegal The election
Of directors followed, their term Of office
being reduced from three to one year.
There was no fight over the election, the
slate having been prepared in advance, and
Greenhut's attorney sirnply gave notice
that the election of seven men was illegal,
as the ex-president had not yet resigned
Several resolutions were adopted approving
OF the reorganization committees action in
seeking to recover trust property alleged to
be illegally held by Greenhut, and giving
action regarding si tie p 100000 OF contested
bonds. The directors were also empowered
20 bring. suits against other ex-ofiicers Of
the trust to recover any cneys or prop
erty that may appear 70 be due the cor
torney appeared ana served the papers In
the $4,000 libel suits. 1T was said tnat the
on the part Of the defendants.
In an interview at the Close. of the. meet
3ng Greehut declared i that the entire so af
will find themselves In a pretty. fix with an
illegal directory attempting to do business 3,
any position. which, is not vacant. and, con-
eequently, can take no action that will hold
they won't md the thing SO easy as they
think. They are stockholders; there was a
Mall-street messing. to-day. and the whole
The defendants In the Greenhut libel suits
protested to be much amused by the affair.
Mayer a0f course we all feel very sorry
for each other, and particularly for General
AlcNulta. but the whole thing will come to
Among the resolutions passed by the
stockholders was one which provides for
trusts bonds, The resolutions gave the
new board of directors power to take steps
Ito practically annul the Si.O00.000 issue of
bonds which 'Greenhut is charged with hav-
ing sold to himself and his associates at
50 cents on the dollar; At the time of the
authorized $S,000O06 in bonds and deposited
$2,500,00 to redeem rebate vouchers, but is
sued only $1000,000 which 1t Is ciairned they
now control. To-day's resolution provides
for the issuance of the total s4.5oJ,oo0, which
throws Greenhut into the minority
bondholder even though he still holds the
entire 100000 first issued.