The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-02-03
STOCKHOLDERS Query
Lively Meeting Of the Newark
Telephone Company-Bar-
rett and Coe Want
to Know.
Hrrom the Newark DAILY Advertiser,
OF February -

The Newark Telephone Company neld
its annual meeting this afternoon, and
a lively meeting it was. 1t was held in
la small stuffy room on the top floor OF
the Firemen's Insurance Building,
which was jammed with stockholders
eager to learn something about their in
vestments. The room was made close
by the density of the throng. Many OF
the stockholders came primed with cues
tons and these questions and the close
ness of the room kept the officers mop
ping their brows.
John M. Gwinnell, President, occupied
the chair. Above the din of questions
his voice rose loud and strong, resound-
ing through the place. M. T. Barrett
represented. he said, several stockhold-
ers, whom, he intimated, had been misled
into the investment. He produced a cir
cular which had been issued by the COM
pany. This spoke of 1.-THE Installation OF
5000 subscribers for telephones" which
he thought was misleading, as implying
that the company had that many sub.
scribers. When, as a matter of fact.
they had not one-ffth of that number.
II should like to know" he asked,
whether the Board Of Directors author
lied the issuance of that ~circular?"
He was informed It had.
He drew from his pocket a bono and
mortgage of $500, 600 on the ompanyfs
plant. The mortgage was placed in trust
with the State Trust Company of New
York as a guarantee for $500. 900 bonds. He
incurred whether that had been authorized
and was informed that it a been.
This mortgage, he said, ''providcs
that $50. 900 shall be COLLECTED annually us
a sinking fund, $4,000 at the first of each
month, beginning November /, 1896. Did
you begin to get that money on November
!, 1896, as p~rovided?'
NO, but we will do SO as soon as we
can"
Lewis M. Simpson, a big. good looking
broker, of New York City, and a director
of the company. stood near Mr.. Gwinnell.
While Mr.. Barrett was asking the ones
tons he leaned over toward the Presi-
dent. and whispered something.
mo more Of that" called Mr.. Barrett,
we don't want any big headed men like
you prompting. It's the likes of you
VINO are getting fat off of servant girls
and poor men,"
Mr.. Barrett asked a number of other
quesuons. and when he got through Mr..
Ooe TOOK 1t up. He said something about
Inc Home Telephone Company, a concern
ehat oled IN the organizing several years
| ago.
= want to know-'' began Coe.
".One moment" interrupted Gw;nner
AS L understand it,"
Here Coe interrupted with a question.
thonne moment one moment" repeated
| Inu un ddesaandt TIT The H0rne Company, as
But" interjected Coe once more sc
not the Newark Telephone Comnanv +he
SUCCESSORS OF the Home Telephone Com
M moment, one moment exe,aima7
Gw1nnell again. The Questions fhen ~
gg an 10 g grow thicker. AS each was put
one moment, one moment" Finally
~ was allowed to say that, as he under.
STOOD It, the Newark Company had moth.
'N Fam M f qo pis with nh the Hons Company.
Nnanoler ". Riker, the counsel of the
SeWark Company. Mr.. Riker answered.
l lGeo saen was the understanding.
Hents had been made.
Atklnson, the manager" he said. "has
peen mak1ng false statements and he is
making them STILL"
ra 1y TINS 1gaa time the pack Of men were
and the closeness of the room were max
Ing things not.
Why didn't they hold their meeting in
piS5Si -lOoHl. asked one StOckhOldar
impatiently, who had been unahla to get
inside the door. This isn't big enough
Tor all these stockholders?'
AFTER an hour had been wasted in talk
MI Gwinnell was Informed by MIR. Riker
that the election of officers should have
been begun at the advertised hour, that
IS, O'clock. Therefore, they proceeded
to he election. ~
Lewis M. Simpson nominated the fol-
lowing ticket:-John M. Giwinnell, George
". Wiedenmayer, Samuel Klotz, Osceola
Curr1er, Timothy W. Lord, Theodore c.
=. Blanchard and Charles B. Smith, OF
Newark; Wallace S. Risley, of Camden
G. Fl. Atkinson and w. H. CharnberIin'
OF Jersey City, and James Russell, OF
Baltimore, Md.
All were directors excepting the last
two
II don't like this putting on this Bal
timore man" remarked d stakeholder.
John F. Feind was nominated by for
mer Alderman Westerman. Henry iii
balIoting began