New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-06-02
flnanrlIl.
NEW YORK, 1. 1900.
To the Stockholders Of
The DistiIIins Co. of America:
GENTLEMEN :

The DistiIlins Co. of America:
GENTLEMEN:
holders your Company a large amount.
consented a Committee institute an inquiry
into the affairs Of the Company and recommend such
action might proper. BY advertisement pub
nshed the day the Committee advised the de-
post The Mercantile Trust
Company subject the order OF the Committee, in
efectuate the above purpose. Almost immedi
atey Directors of the Company
Committee suspend this call for the de
post shares offered II that request should he
complied WITH possible opportunity for the
Committee investigate the affairs Of The Distuing
Company It's constituent companies The
thereupon suspended call the deposit
shares returned depositors had
received proceeded the investigation
purpose services OF Mr.. Stephen
Little, who forthwith entered his work
The officers gave Mr.. Little and to the Committee
full 10 all the books and papers Of the
different companies Committee and its
perts every enable the Committee TO arrive
conclusion.
Lrte's examination has been extensive and iabo-
occupied three months 1t covers the
period organization Of each OF the companies
affected down TO 81 1898, except that
Hannis Distillng Company the five years
past
The DistilIng Company o
actual operation until the autumn OF
therefore with reference this
Company only the formative period Of the Com
pRny. The fiscal year Of all Of the companies ends
July Owing the greatness OF the undertaking
and the business which really did
working order until about January l,
1900 the Committee is of the opinion that rather than
estimate Of earnings based incomplete
advisable wait until the books
various companies brought the close OF such
year and then with the complete figures
them, determine the real capacity
year, and that base estimate OF the
ings coming years. Under circumstances
Committee has decided OF final
report until such time these necessary shall
in its possession In coming to this conclusion. the Com
o Company and
its stockholders will be substantially benefited.
T IS gratifying to Committee has found
nothing upon integrity management
OF the Company. and the officers Directors
Company have furnished the Committee aid and
facility shown a complete Willingness TO join
with the Committee in the formulation of plan
policy which be considered advantageous. The
hcers supervising controlling the management Of
the constituent companies and in this there
brought about uniform policy which prevails through
all the companies. thus interest
has been harmonized.
Until after closed and the earnings
ascertaned FOR the fiscal year premature
additional working capital required by
the different companies. The opinion.
however that IN order 10 obtain the best results further
working capital Will the
which according Mr. Lttle's
Gliding storage reported by the Company.
amounted December 81, 1899. So 49 2s. 3D. indie
pendent OF the value estate plants. goodwill
brands. and similar plan already under cons1d
Grafton viii perfected accomplish this
meantime the officers OF Company Will
operate Committee Voting
the best OF the stockholders and have agreed
upon following being beneficial
% That auditor for all the shall be ap
pointed shall be Independent the Companys
department. purpose The Company
has been designated.
2 For the purpose soidrytng different
according conservative
coupled a policy
holders Of The Distng Company OF invited
deposit The Mercantile Company subject
order Of Committee without any expense
stockholders
appropriate powers attorney proxies
therefor negotiable equitable
for five from the first day Of July, 1900
August Belmont L CadwaIader T Jefrer
Coolidge. William f Harr1ty Krsch
shall the meantime thereon under pro
visions of appropriate agreement all
meetings OF The Distilling Company America
posts for that purpose required
with The Mercantile Trust Company office No. 100
Broadway. City New York. first
Gay Of July, 1900,
large OF stock has already been pledged and
substantial majority deposited appi-
cation certificates on the New
York Stock Exchange.
II the plan hereafter adopted by
acceptable depositing stockholders
plan shall declared operative. stockholders may
withdraw upon certificates
RUDOLPH KEPPLER,
Chairman;
WILLIAM L. BULL.
WILLIAM f. HARRITY, committee.
ALVIN w. KRECH.
RICHARD SUTRO,
CHARLES C. DEAfING, Counsel
GUY RICHARDS. Secretary.
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