New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1900-05-11

The directors were in session nearly all the after
noon. and upon adjournment At 80 o'clock
issued the following statement:
The following is given out as the result OF the
proceedings of meetings OF the BOARD OF Directors
Of the American Steel and Wire Company. by
After Magistrate ZeIer disposed OF the charges
founded the Board OF Directors met at the Special
request of Mr. Gates 70 receive from him written
upon by the directors before his intended depart
ure for EurOpe this morning.
The communication Is as follows
New-York May g. 1900.
To the BOARD OF Directors OF the American Steel
Gentlemen: As is well known 10 most OF the mem
bers OF the Board. it has been my desire 70 sever
my connection with the American Steel and Wire
Company for more than a year. having long deter
this company 10 be relieved from active manage
ment cf the company. so as 10 enjoy what re-
NY colleagues have an been informed that
70 conditions which have appeared in public print
and have been he sa8Ject OF eomnlent both pub
licy aUt privately entirely untustihel and urxa--
ranted, determined 70 remain where I was until
zD6sed oi In view OF stgtarneuts that my retire
ment would be the cause for the cessation OF Ger
graiT s sSeS Wish % but 10 have eompeta sxana
ton and hearing of any charges asserted
THE CLOSING OF THE MILLS
The main question which was regarded as aroi-
trary and indefensihle the closing OF twelve
mills OF the COMPANY some tRTee ~sehs aS9 - rSt a7
trerv acr without consultation or the concurrence
OF any other officers or directors OF the company
This subject was fully discussed by The ne BoaTa az
York City On May you passed a Eesoa{lon ~ IT@h an
closing OF the mills and recorded the fact that the
Cos4F & OF 51 sum at G ahJ Of the directors as the
result of a meeting and conference held az ChIcaso
Board including Messrs SeIigman and Strauss be-
fore their retirement from the Board
ana-at from M with reference 10 statements
cernng the condition OF the American steel and
tion which has been heaped upon me prlvaleiy ans
interview published in The New Ork Herald,
April Il Indeed that interview has been MADE me
have been heard before Magistrate Zeller On tnat
n16nv Of the reporter who reported this alleged IN
terview. that. as matter OF fact deciineI 20
va I, 1+sryfsUr / positively and absolutely
American. Steel and Wire COMPANY or It's AFFAIRS
gave incidental expression with regard 20 the con-
dtiou Of the iron and s,eet ouslsSS % 49,, VT
bnstness Of this year was OF from the Prevou.
year about 80 per cent, and that the tendency OF
the iron and steel market was downward
THE OTHER INTERVIEW
The only other interview that submitted 70 va.
had AZ me Office o< the company on the morning or
i Apr - I ~ ~ r,ake inquiry with reference 70
the fact Of the compan- shutting DOWN Us nils
gestiOn Of our g-nerat SoClseI- -Ir1.rt and IN
was present rvSSL<' .,5 ~ 49, rySeivs ~ the
Iri71S mad been shut down gave them the location
ms m & 4d1 Ills and stated the reason therefor being
oI @ suCn mis- Hl.,4S 1rbi~b ended that interview
r.svoD6 these two interviews / made no state
nent II any kind 10 any reporter or newspaper
II the members Of the press have received state
n1ents from others connected with the company or
Hthervvis concerning the business OF the American
Steel and Wire Company II emanated from sources
other THAI myself and II nneh2rrs @ o. Sa9 = Is. 49,
70 whom I confded and STATED from time 70 ulne
the condition OF the business. undertook 70 cor
rectIy or Incorrectly comment tneEeoa ~slIner ~ 20
members OF the press or othSrs. ll ! - t
and unjust nat nat j., 59oGid I 7og sra5sted from me
I have therefore paid attention 20 the news
conduct in the management Of the company prop
ertv | am thoroughly appreclative or ne futlity
vidaai and coutenred myself with communicating
only those Interested IN the rtrageIienJ or ne
property such and matters related thereto.
NOT SHORT OF THE STOCK
II has also been stated in the press that hav.
been hort 0f the stock Of the American steel and
Wire Company This is an unqualified falsehood-
excepting mat "n1ch o%Ne' ,L5l i,e ,rs am ,oas "a
every rnenoer OF my family substantial holder
OF the stock OF this conFany.
been dispersed and discredited. and have been re-
leved from further accusation and the charges
and ae uafond asl feel 5ha should not % furtass 1ass
deny myself the Opportunity 70 take The desired
since II has become my duty BY appointment from,
that state as It's Comnnissioner 10 the Paris Ex-
position therefore tender herewith my resigna-
patton in the management OF the company. In
doing 50 desire 70 express my thanks and appreo-
operation extended BY each member OF the Board
4 bespeak for the company success in the futIir,
knowing fuH well that men OF ability viii continue
Yours truly. J. ". GATES.
MIR LAMBERT'S LETTER
AT the same time John Lambert the president
OF the company. also communicated with the
directors as follows;