The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-09-01
APAIDING MADE PRESIDENT.
Cycle Trust Elects Its Oricers and Delivers
Its stock.

The permanent organization Of tho Amer
lean Bicycle Company was completed yoster-
day by the election OF it's officers and ten Of
the fifteen directors who. with the officers.
will constitute the executive board.
Tho result OF the election shows. as
was foreshadowed in The Sun. that the
opposition to A. q. Spaldng was overcome
and he was prevailed upon to become the frst
president OF the combination that he has
worked for many months to form FoIowlng
are the officers:
Albert q. Spalding, President: Col. George
Pope. First Vice President; j. +. Brom-
ley Second Vice President; A l.. Garford.
Treasurer; c. w. Dickerson, Secretary
Directors-Albert GSpading. Sea Bright. n. ].
Col. Albert A. Pope, Boston: A. Feather
stone. Chicago; r. L. Coleman. New York; J.
W. Kiscr. Chicago; J.. G. Stcarns. Syracuse; Il.
s. Crawford. HaEnrstown. Md; Charles l..
Ames. Chicago; II. Philip Gormully. Chicago
Harry A. Iozier. Cleveland.
All these men are bicycle makers The
single namo an neither are the financial
underwriters. These interests will probably
are eIectnd' The eleetionA Was Injected nifcctei
very quietly after a session Of a few hours.
The ,stockh9ldors in the trust have
been in town for II couple OF days and there
were rumors OF meetings. but at the head
quarters IL was stated that there was no meet.
ON T and U was the CONFLICTS
tranSferral oil stock and tho last block OF IL was
delivered Wednesday.
For the purchase Of the various plants there
will be issued $lO.uOO,OQO per cent 2Oyear
gold debenture hOndS $lO,OOO.O 600 per cent.
preferred stock and 2O,OOO,OOO common stock.
leaving in the treasury annie means Tor the
purchase Of such additional plants as may he
desirable and Tor the extension the business,
especially in foreign countries
The manufacturers have taken all the SlO.-
O0O.OOO preferred stock and the S2O,OOOOOu
common stock, and have subscribed for a sub
Atantial part ot the debanture bonds. The re-
naming bonds. 1t is said. will be offered 10
investors ut lOl,
Magoun 4 Co. are now the bankers primer
palY interested, having taken the place
OF those originally back Ing this cont ine. The
bicycle trade j. conceded 10 have been ore oi
the most difficult 10 get together, and this re-
port Of q change in the underwriters GORE
spends with the rumors OF difficulties in OBJ
tanning the capital.
The com hination controls nearly a thousand
| patents. and the stock holders are sanguimo ui
| big dividends One man closely connected
| with ono OF the leading Stockholders. snld to n
| NUN man: - nm sorry for those on the GU side
| / cannot see what they Gan hope to do. They
| will lie kept lighting all the time, and nil
| spend all they make lighting. confess that
| would not want To BE- on the outside
thousand patents" are controlled and that an
| aggressive policy will he pursued in compel,
| ling recognition Of them, One Of the largest
| sources OF revenue of the trust will be the eX-
| The export Of bicycles from the United
| States during the paSt two years exceeded IN
| value the total exports OF all kinds OF agri,
| cultural indictments. and aside from iron anc
| steel goods, heads tho list OF manufactures
Following Is the conf lete and authentic list
| Of he Arms now In the trust":
Acme Manufacturing Company, Reldingi Amsri