The herald., 1897-02-04
Held by Diamond Match Co.
Stockholders
OF CROOKEDNESS
Don't Prevent the Majority From Running
Things
In Spite Of Little Misbaps the Com
pany Paid Its Regular Ten Per
Cent Dividend

Associated Press Special Wire
CHICAGO. Feb. 3.-The annual meet
ing of the stockholders of the Diamond
Match company today resulted in the
election of the directors on the regular
ticket after one of the stormiest and
exciting sessions in the history Of the
company. Mismanagement and even
charges of a criminal nature were al
legged by the Gould interests. Those in
terests were, however. hopeless minor
ity. The first war of words started with
the election of chairman of the meeting.
President Barber recognized Mr.. Baird,
who nominated Attorney Edwin Walker
as chairman, and amid the protests of
E. V. Mccarthy, one of Edwin Gould's
attorneys, he was declared elected.
1t was the evident intention of those
in charge to override all opposition.
President Barber read his report, in
which he said:
1T is unfortunate that the Diamond
Match company has for so long a time
been a public institution, so far as its
workings and operations are concerned.
Its earnings are known to the world
and excite competition of not only cap
ital but the inveStive and working en-
ergy of the world. With many acknowl-
edged advantages we fell confident that
the company is in promising condition.
There has been no time in the history
of the company when its physical con-
dition has been in such perfect order.
Notwithstanding this fact the efforts of
your management should, and doubtless
will, be continued to further perfect its
machinery and methods. Notwithstand-
ing the mishaps in the last year, it has
been able to pay its usual 10 per cent
cash dividend and will continue to do
SO from earnings"
The statement was as follows:
Assets. $12, ,400,S46; cash, $152,392; to-
tai, $12,552,73S. Liabilities: Capital
stock, s11 100000; accounts payable, $685.
3S5; bills payable, $345, 900; surplus and
profits, SS99, ,352; total, $12,552,73S
Surplus account Balance, January
l, 1897, 1907 ,040; less Ontonagon fire loss,
S134129; earnings for 1896, 81, ,226. AL; less
dividends paid for 1896. 81, 900; bal
ances, December 81, 1896, sS99,S52.
In the roster of assets $79S, 767 was put
down against the Moores.
AT the conclusion of the address. Mr..
Baird moved that it be accepted and ap-
proved, but Mr.. McCanty, after several
futile attempts, succeeded in obtaining
recognition and demanded TO know
what the figures in the assets William
II. and j. ii. Moore, SfyS.l6l.l meant.
President Barber refused to answer,
ard the question was firally answered
by Chairman Walker, who said that Il
represented Indebtedness to the COM
pany by w. H. and J. H. Moore. j. H.
McCarty then wanted to know whether
the Moores had not written to President
Barber to obtain the funds of the Dia-
mond Match company to be used as
margins for specula ton in the stock,
and proceeded to give dates and figures,
but was peremptoriIy shut off by the
chairman. Then Mr.. McCarty said: Il
want to know whether the reason Presi-
dent Barber declines to answer my in
Quiry is because he fears to incriminate
himself?"
The meeting was in an uproar in IN
instant and amid cries of order Presi-
dent Barber replied: Your question is
not only improper, but you yourself i'm
pertinent"
President Barber then stated that the
books of the company We're open to the
inspection of the stockholders
Attorney w B. Keyes then took the
lead for the opposition, but met with no
better success. and the motion to ap-
prove the presidents report was finally
declared carried. The following direct
ors were elected for the ensuing year:
o. c. Barber. ]. X. Robinson. George L.
Smith, George II. Webster and Clarence
Buckingham.