Iron County register., 1900-05-17
SWEEPING CHANGES MADE.
Old Omcefs of the American Steel and Wirs
Co. Step Down Th, ir sue
cessors Chosen.

New York, May 11.-Changes OF
sweeping nature in the affairs of the
American Steel and Wire Co., were an
Dounced yesterday after a session OF
the board of directors.
Old Officers Resign.
John W. Gates resigned the chair
manship of the board of directors and
is now on his way 10 Europe. He is
succeeded by Alfred Clifford, OF Chi
cago.
John Lambert, the president of the
company, resigned in favor of William
=. Palmer. Isaac J.. Elwood resigned
as chairman of the executive commit
tee and his place is taken by VIM.
EGenhern. The office of treasurer,
made vacant by the elevation of Mr..
! Clifford, is filed by the election of f.
L. Watson. Henry Seligman and Fred
erick Strauss, both of this city, who
resigned from the directory last Mon
dny because of their opposition to Mr..
Gates and his policy. are succeeded by
Randall Morgan, of Philadelphia, and
Herman Sieklen, of New York.
Have Settled Their Differences.
Mr.. Morgan is vice-president of the
United Gas improvement Co., of Phia-
delphia, and close business associate
of Thos. Dolan, also of Philadelphia,
who is Il director of the American Steel
and Wire Co., as well as a member of
the executive committee. Mr.. Morgan's
election to the board of directors is ac-
cepted as an indication that Mr.. Dolan
and Mr.. Gates have settled any differ
fhof h.Ivo n~-iSfo1 hot
! them,
In Absolute Harmony With Gates.
Mr.. Sieklen is a coffee importer of
this city. All the new officers, Girec.
tors and committeeman named are
said to be in absolute harmony with
Mr.. Gates and his policy.
VOIuminous Statement.
Following the meeting of the direc-
tors, yesterday, a voluminous state
ment narrating in detail the causes
which led to the changes in the per-
sonnel of the company was given out.
1t starts off with Mr.. Gates letter of
: resignation. In it he states that for
more than n year he had contempla ted
retirement, and should have taken the
step on May 1, but fer the recent con-
troversy. He justifies his action in
! closing the mills three weeks ago and
! protests against the fabric of abuse
and villitcation,' which has been
heaped upon him, based upon an al
legged interview. Mr.. Gates declares
that he did not, us alleged, discuss ut
any time the affairs of the American
Steel and Wire Co. Further, he says:
MIR. Gates Statement.
Il never sold share of the stock of
this company, excepting that which
owned, and | an 1o-day large holder
. of the stock Of this company, and every
| member of my family is substantial
! holder of the stock of this company.
Now that the artagonism from all di-
| rections has been dispersed and dis
credited and that ] have been relieved
| from further accusation, and the
, charges against me determined to
| lave been false and rqfounded. I feel
| that L should not further deny myself
the opportunity to take the desired
recreation determined upon n year ago,
| particularly since it has become my
duty, by appointment from the gov
! ernor of the state of Illinois, to rep
| resent that state as commissioner to
| the Paris exposition. j therefore tend
/ er my resignation, and desire to be re-
| lieVed from all further participation in
| the management of the company"
The General Counsel Says.
The statement issued by the general
counsel says:
| The board of directors declined to
consider the resignation of Messrs
| Gates, Lambert or Millwood, in any
| way which would take then: out of the
board of directors, or the executive
committee, and upon their insistence
accepted their designations only as
president and chairman of the eXecu-
| tive committee.
THE executive committee, rs now
| constituted. consists of William Eden
! bern, chairman; |. L. Elwood. John
| w. Gates, John Lambert, A. Clifford
| and Thomas Dolan. of Philadelphia.
| ''It has; been further determined that
| the board of directors of the company
will meet hereafter monthly. These
meetings will probably be held in New
York city"