New-York tribune., 1899-12-19
CONSTANT STRIFE WITHIN.
EDWIN GOULD DETERMINED TO orsl
MEssRs BEALL AND MINTYRE.

EDWIN GOULD DETERMINED TO orsr
MEssRs. BEALL And MGNTYRE.
The inside history OF the Produce Exchange
Trust Company for the last few months has
been one OF continual strife between Edwin
Gould first vice president and President Turner
A Beall and Vice President Thomas A. McIn-
tyre Mr.. Gould was determined 10 GUST Messrs
Beau and Mcintyre and II said by Mr.
Gould's friends yesterday that at the annual
meeting in January they would have been
forced out Of the trust company Mr.. Gould
according 10 his friends and not denied yester-
dav by himself. was greatly surprised when he
was elected first vice president Of the trust
companv. TO succeed the lat. Timothy Hogan
The more he examined the affairs Of the com
many the less he liked his new Office. and on
November II last ne sent President Beall the
following resignation
November Il. 1892
Turner A. Beall, ESQ, President Produce Excnanse
Dear Sir: hereby tender my resignation az vice
president and director OF the Produce Exchange
Trust Company. 10 take effect lmmeaia,ey;; Nery
truly yours, EDWIN EOul'D'
ON the receipt Of this ,ome Of the directors
at once visited Mr. Gould and urged him to stay
in the company. promising that there would be
enough votes at the annual meeting Of the
Mcintyre and put in their places men agreeable
TO Mr. Gould On November 2S he withdrew
the resignation, and then. according to Mr..
Gould's friends Messrs Mcintyre and Beal
sprung n surprise on the directors by offering
a resolution authorizing the president Of the
trust company TO exchange note for 100000
made by the United States Flour Milling Com
pany and held by the trust company for an
equal amount OF bonds at par OF the -four mill
ing company. Mr. Geuld present at the
meeting and succeeded in sIdetrackng II tenn
porarly. urging that the bonds Of the -four com
pany were worth less than par. Then he wrote
the Executive Committee n letter, In which he
said among other things:
find that large sums Of money have been tied
up I'm ordering the underwriting OF certain indus
gether with what we agreed TO furnish II Gailea a
upon, equals nearly not quite the combined
amounts Of our capital and surplus
After asserting that many Of the loans were
uncoiec;ib.c Mr.. Gould continues:
am not satisfed that the most conservative
banking methods are being used I'm investing our
money and | feel that the present condition OF
the company Is such as 10 render the manage
ment subject 10 criticism.
This letter increased the bitterness OF Messrs.
B,alI and Mcintyre against Mr. Gould and 1t
is alleged by Mr. Gould's friends that on three
different occasions attempts were made TO call
a meeting Of the directors when Mr. Gould and
his friends were not In town in order to take
action on certain propositions advanced by the
president and Mr.. Mcintyre Mr.. Gould kept a
special watch on everything however. and never
missed meeting.
MY position in the trust company was from
beginning to end I'm favor of honest banking
methods" said Mr.. Gould to Tribune reporter,
"and | would not have STAYED In the company
II there had not been a practical certainty OF
retiring one two men from the directorate
who represented methods not conservative.
The following statement was Issued from Mr..
Gould's office yesterday afternoon:
Edwin Gould explaining his connection with
the Produce Exchange Trust Company. stated that
he had only recently become connected with the
institution and when he found that the state
ments on which he had been induced TO enter the
company were misleading, and the assets not such
as had been represented ne resigned vice.
president and director. lie was only induced 10