New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-09-22
LINSEED OILS AFFAIRS.
STOCKHOLDERS OF THE TRUST HOLD a
LIVELY MEETING IN ST. LOUIS
<,o,,,,1711,u APPOINTED 70 CONFER OK REoisdA"-
rzArIoN-SEw EASTERN CAPITAL hh"' ~
gp RrADr-PREs1pDNT CUSTOMS
GTATEMENT.


STATEMENT.
q. ro,,. es,. a1.--At the stockholders meeting
Inf the National Lnseed Oil Company, ut no Me,-
<cen,Ua Club in this city. nearly every 81 ']o
s,ockho,der WAS present. Gnd II is said ula' my
a,x thousand shares were represented "iho" !"
nearly one-thrd ct ;ae cntire oapi'ai|"'io" - Wv
rompany. j., ps,,so,.
There was considerable discussion. and fres'ue,'.
J,us.on and tho Board of Directors were 49,
criticised II was finally agreed 70 appoint a com
,ri,.ee of three to examine the books ana acc0"''
of the company and TO confer WIN 'i'o 1870
olcott committees in regard TO pans ioI nv
organization OF the company. II sGch II s'e' A.
adhered necessary after the exact conui"o' "a ~
compary's affairs has been ascertaiheu' ' 80. -
Edwards J. IL Aaxon aad T. ii. LuIuAeS "'''
appointed on this committee.
n 20 olso decided to assess each share OF stocA
five cents to pay the expenses OF the pie"'n'na.'
examination and the committee. II plan OK re-
organization is agreed upon AZ "~
nent Will DO made. .,
The majority OF those present az inc
agreed 10 the plan. but 81 was evident taal aneae
was q strong element aRtago2isuc 10 ZIG =, .
management. Quite number uI' A0. oo -
agreement 10 abide BY the action OF the coin4-..
and tia meeting adjourned to NEE, again. sHDJee'
10 the call Of Chairman Edwards w2eh LIZ 'O'A
1nittee Is ready 10 report III, .. ,or
The agreement adopted was iaade puoiio 49, 80,
II requires that the stock held by oach person e"a
be deposited with the committee ap0o''''eO ~ "
ivestiga;e the affairs Of the company
President Eustop, in an interview. saio to-"1S
stated IA the meeting that the assets OF IN t ,S
Germany at present amounted 70 az rear SonS
over and above liabilities OF al kinds the ov ,Sni
VIII prove this. l produced hSures 10 gsc7 IN
49, per.od OF eight years IRON lsV 10 -S' tn
cinsye tho gross earnings wero sIo,e'VU 49, 1,ers
oneTat,ng expenses during the same tni =, s 10
ssSSO0 exclusive Of interest ms e1 rest many
snnIicaba 10 interest and DIVIDENDS "A
ERRONEOUS statements in regard to the VcnhpSiio1
anfairs have been circulated recently. 40 1s ~
- in no way worse than IL was IN 1syS 40 ,e osn '
connanys present capitalization OF SSVy'Ns o IA
90 represents money actually put IN and s0'''o''
represents goodwin ton movement IS to
..,,iscc borrowed money with cap!tal. we e1pICs
,o'nnIis, IS 900 G1 OF capital. j cannot nnaSe
az a~ourate forecast OK the plan wmcn wiz VIZ. ~
aHontsd but think you will find that the c ai
@tock will be reduced sl5,ooo0eo Inc pteisi. .e
stocE will represent money actually put IN anu w ~
comraon stock will be based on a ialr @ a.
~ nrcsent assets with a small allowance lot soous
viii Probably a.0o0oo Of preieried s'oS" "'N
"a ~, an Of common stock viii be issued Ana.
TIE necessary money is ready IN the Last A. %
yeoryan!zation the outstanding DoIids Wiz 20
'tapa, IN The companys bonded indeoteuIesSS 20
% Uo No and the amount borrowed ~ lne C III
So outside of the bonded debt is $1,000 it, S
Iess,,ssenteS by SOCK accounts. cash. materia dnd
@rsbed prolucts. These nearly cover VIZ , a,a
.sness WITH a slight rise in prices they VIII NOR
than cover 81