Butler citizen. [volume] (Butler, Pa.) 1877-1922, 1898-01-13
The plate Glass Matter.

InG fIate Olsi>> hdtttI.
On Friday last the following entry
was made in the Appearance Docket II
the Prothonotary' Office:
The Safe Deposit and Trust co. Of
Pittsburg, trustee vs. theStandard Plate
Glass Co.
Sci f sur mortgage, recorded N
Mortgage Book >, pages 40 70 30
writ issued. reTurDable 10 second Mon
day OF February
Jan ;. 1895. c. Walker, accepts ser
vice for defendant, etc
This means that our Plate Glass Co.
owes money that Is due, and that its
creditors propose taking judgement
and selling the plant
The cost Of the plant as il stands to
day, was about one million dollars, and
there is said to be first mortgage Of
ss20, 600 upon il due in 1892, and bal
suce OF s247, ,O01 OF a second mortgage
now due.
f. J. KlingIer of Butler now holds
and controls about one third Of the
second mortgage bonds, and 1t Is he
who Is taking action in the matter for
the Safe Deposit Co.
On Monday he filed Bill IN Equity
against the company, and asked that
receiver De appointed and the court
fixed Saturday Of next week, the 22d, as
the time for hearing the case.
Whether or not Mr.. Klingler is acting
in the interest Of the Pittsburg Plate
Glass Co. or Trust remains 10 be seen.
He published a card Monday, denying
that he is, and this was answered by
by Mr. Brymer. the manager Of the
Works here, Tuesday. as follows
''Mr. Fred J. Klingler proclaims an
ownership OF stock and bonds Of the
Standard Plate Glass Company for II
wears past. Now in 1853 II. J. king
Ter & Co. owned some stock. which
they sold in that year. Nr. Klingler
was then member Of that firm, and
we positively assert that from that time
until April, 1897. Mr. T. J. Klingler
did not own one dollars worth Of stock
nor a single bond Of this company. nor
did il come 10 oar knowledge that be
claimed any bonds until October, 1881.
For some unaccountable reason he has
conmiserated this company and has
even gone 30 far a. To write derogatOTy
letters. statements. etc, concerning Its
credit Now we regret that we must
draw the sword, and beg herewith 10
state that in 1892 the company was IN
the hands Of a receiver for one year,
when he was discharged, leaving
second mortgage bonded Indebtedness
Of s32j, 900 and floating debt Of S37,
J76.
Since that time the country has been
through the most trying financial de
preston, but nevertheless the plant has
been kept running, excepting a short
shutdown in 1893, and since then has
reduced the second mortgage to S221,
600 and the floating debt has been en-
tirely wiped out We paid hundreds Of
thousands Of dollars for wages mate
rial, interest. etc, and never defaulted
one day on our first or second mortgage
interest Though this statement
comes from Ourselves, we further assert
that the plant il in every respect in bet
ter condition that at any time IN the
period Of its existencen nOtwithstand1
Mr.. Klingler's assertion to the contrary
We challenge any contradiction TO this
assertion.
Not until Mr.. KlingIer got some Of
the second mortgage bonds through
false assertions, written statements,
which we have In our possession, did
we experience trouble from any source.
The only amount due il -, 900 for
which he did AK payment from one Of
the officers on Monday, January 3, 1898,
who said that provision would no doubt
be made when the Directors met in reg
ular session on the third Thursday in
January, 1893, but ~ our great surprise
and chagrin We we're served with no
| tice from the sheriff on Saturday morn
| ing, not only for the ., 900 dollars due.
but he entered proceedings % close the
| works and have them sold. We were
again more surprised Monday 10 learn
that he persisted in applying 10 the
Court for Receiver, which application
was graciOusly declined until the com
pany can have hearing in due time.
We particularly desire to state here
with that IL any one has any claims for
material delivered or work done, they
may present the same and we viii pay
| it On presentation at this Office in But-
Ter Only excepting the Bonded lndebt-
| edness.
4 meeting Of the directors Of the
company was held in Pittsburg. Tues
| day, and continued until today.
There is some talk Of n parade by the
the employees Of the company for Sat
| urday af ternoon.