The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-12-20
TRUST comPANr MAY RESUME
II Beaii and Others Retirc-some of Its
Syndicate Loans.

Syndicate Loans.
Tho special committee. Edwin Gould. chair.
man. to which was turned over tho Affairs OF
the Produce Exchange Trust Company. after
Il suspended business on Monday morning.
was 10 session IN the board room OF the COM
pany all day yesterday and well into the even
ing. when the committee adjourned no
formal statement was given out relative to the
company's afralrs. but a member ofthe COM
mittee said:
THE prospect OF recognizing the company
and resuming business at the old stand are
very bright. Such reorganization and rosump.
tion are absolutely certain. providing President
Turner A. Beall and one or two o.
tho old trustees will retire. Mr.. Beall
appears to DO quite willing to get out.
and. from what can learn, those
trustees whose presence Is no longer desired
in the Board are also willing to get out. These
changes In the Board OF Trustees having been
effected. the Presidency OF tho reorganized
company will be offered TO Mr.. Gould. 1t Is
Just possible that his other affairs will prevent
him from accepting the office. and II such be
the case. then the new president will be a
man s s sGt Sog Of TnSss a % b %s
well known nnanciers approved by Mr.. Could
may add that; from our examination OF the
company's depositors may be assured that
,hSey, will be paid in full in comparatively
Supt. Kiiburn OF the Bank Department said
that u was absolutely certain that depositors
some debate Information about tho loans
made by the Trust Company to various syndl-
Gates was obtained yesterday from Mr.. Xii
sminer Judson show that the Trust Company
,Sr S9n5 OF .h he Unsd
35S IS. or this amount, 1896 .353'4S was lent
TO tho synaSSeates NV which ,,,, Tnderwrote the
s soad' wS o SECURED ss 0 By ny
bends GS0 shares i,ncs q ,s
tSs 49, S&NIS ' the e Ta:
% SH soaSs T 2s
United States Flour Milling Company was
ise % 1893 t nnd SsTs
The syndicate which is .endeavorihg to con-
Pf ndc. kSsTa g Sc snfSn
Line and and $500 go Tor Tor 1 the Florida ia
Central Gen I. And PsniRspaT HSsir2sd Two q
gns what 'ss sSs Soa,s Snd
which was p put up b the William. syndicate
been able to nd out Presdent Besli r 81 the The
Trust tSmpany promised 70 furnish
OF far has so's not Done ago
known that the collateral was part
OF line OF securities deposited In a Baltimore
trust company TO be put up by the Williams
syndlcatslfor all the money 1t would need TO
borrow to acquire oil OF the eighteen roads. It
IL understood that the Produce Exchange
Trust Company's share OF this collateral 10 still
In the vaults Of the Baltimore depository.
THIS statement accounts for 81. TBS, 1853 48 OF,
the 81 423 800 syndicate loans" made by the
Trust Company. 1t is known that the Trust
Company lent q considerable sum to the
American Writing Paper Company. Thomas
4. Mcintyre. the organizer OF the Flour Milling
Company 10 second Vice President OF tho Trust
Company and John Shelton Williams. head OF
the Seaboard and Roanoke syndicate and j.
w. middendorf. an associate OF Williams In the
tynnieate, are trustees OF the Trust Company,
MT. Mcintyre said yesterday:
Anyone who says that l was instrumental
IN securing loans for anybody from the Pro-
duce Exchange Trust Company on United
what 10 absolutely and unaualidedly false
the twelve individuals who secured loans on
the Milling Company's paper"
There promises TO be q fight between the
Gould and Mcintyre factions In the Board Of
Trustees OF the Trust Company over the com
pany's reorganization. Friends OF Mr. Mcin-
tyre say that Mr., Gould will not be- able
70 .reorRanize the company. although Mr.
Mcintyre will do nothing to hinder him In the
work. II Is also said that. should Mr. Gould
iaiI 70 enect REORGANIZATION. Mr.. Mcintyre,
With Messrs. Williams, Middendorf John p
Truesdell. Edward r. Laden and others will
enoertakethe reorganization.