Delaware gazette and state journal., 1896-05-07
Il upon them in Mr.. Baumann' 9


General Manager Kurt, "diaheartened
by the opposition thus raised against
him, and realizing the impossihility
Of successfully conducting tAe business
of the company under dual manage
ment, retired from the service OF the
company, Mr.. BaumaGn leaving at tho
samo time. Tho Trust company says
that tho business Of tho brewing com
pany at that time was in most -four
isniug condition and had increased
largely during the preceding six months
and gave promise Of still greater in
crease.
The Trust company further says
that in the controversy over this matter
Mr.. Hartmann was upheld in the board
of directors only by j. George Fohren-
bach and Charles A. Schaefer, and in
the stockholders meetings by the
''Hame identical interest
The Trust company denies that its
conduct in relation to tho brewing
company has not been consistent with
the welfare and well being of said
company, and AYERS that it has always
insisted upon the observance of the
strict rules of business in the manage
ment OF the brewing company's affairs,
aud that its representative in the board
of directors almost unaided has
lnbored zealously and disinterestedly for
the success Of said company and has
freely given much valuable time and
assistance in the direction OF its
affairs. -
Tho Trust company denies that it
can eaglly reinquish its trusts for the
majority of the stock Of the brewing
company and respectfully submits
that having accepted said trusts it is
bound to faithfully execute the same
until said trusts expire by the terms of
their creation, and that the resolution
of censure against the Trust company,
purporting to have beun adopted by
the board of directors, represents only
the individual action of John G.. Hart.
mann, j. George Fehrenbach and
Charles A. SchaeFer.
The Trust company denies that 1t
has attempted to create disorder or
violate tho subsisting bylaws Of ths
company at the Stockholders meetings,
and AYERS that it and the other stock
holders acting with it,, were actually
prevented. at tho meeting held on
February 10Th, from proceeding with
the business for which the meeting had
been called by repeated and persistent
Interruptions undor arbitrary rulings
OF tho complainant AS presiding officer.
The Trust company further AYERS that
it has always respected the wishes of the
complainant in regard to the manage
mont of the business of the company as
far as known, and SO far as the wishes
of said complainant were, in the judg.
| mont OF tho Trust company consistent
| with his own best interest, and that
the whole course of the Trust company
since ii became connected with the
| brewing company, has been marked
with great respect and Difference toward
said complainant and tine other bene.
hciaries. ~
The Trust company denies that the
business of the brewing company has
not been successfully managed by
officers, agents and employees selected
under it's direction, and AYERS that
through its care and attention, and
efforts in behalf of said company, large
profits have been made by said brewing
company during the past six years, anC
an entire change brought about in itl
financial condition, although during
that period the rivalry for business wa.
increased by the opening of new
brewery in Wilmington, and by the re-
duction Of the price of beer and porter.
The net earnings Of the brewing com
pany, August ID. 1890, to January 25th,
1896 arc stated at SlIG, 600, Of ,thii
amount s2s, 500 were expended for the
purchase and Improvement of rea
estate, S3i, 600 for the purchase of new
machinery and the general improve
ment of the plant, &C. 600 ( r the equip
ment of the general depot and bottlinl
worke. SIS, 400 for the payment Of ole
debts and a3j, 500 in dividends.
In conclusion the Trust company
says that in al its acts il has beer
governed 10y the sole purpose and desire
of having the business and affairs O
said brewing company economically
and successfully managed in aud foI
the interests of ail the stockholtler9 o
said company, thereby endoavoring
SO far as possible, to discharge its dutl
as truatco under tie respective wills o
John Hartmann and John Fehrenbach
deceased; and that ut no time has i
acted or intendcd to act by it's officers
agents or attorneys in any matte
hostile 70 the lest interests Of eaci
and all Of tic stockholders of said com
pany.
/ The Trnst company asks that TIL
bill bo dismissed.