The labor world. [volume] (Duluth, Minn.) 1896-current, 1901-12-14

ys5 5sf. %4454L4A ------ :. ~
From the Iowa Unionist. 49,
4 Many real good stories concerning
labor and it's work never get into
print. The latest which was hushed
for obvious reasons has 1ust come to
light and the Unionist takes the first
occasion to print the chapter which.
has not been given to the public.
=, Several weeks ago the news was
heralded in the daily press that the
Yonkers, had acquired a majority Of
the stock in the Flint Brick Co., one
Of the foremost industries in the state
Of Iowa and would operate the same
The date for change Of management
was given and the probable managers
and; superintendent were announced.
But when the day came the change
did not take place and the papers
simply said that an amicable settle
ment. had been made and that Man.
ager Brecht had bought up the Youn-.
ker. interests for other parties whose
names could not be given at that time.
There was Just enough OF mystery
ebout the published accounts to lend
interest. But that was the story given
to the public and in the busy town
the; event has almost been forgotten:
There are several parties to the trans
action who will never forget the in
cidert.
AS the novelist would say, let us go
hack q few weeks and consider the
circumstances surrounding the trans
action. The Flint Brick Co. Is an in
corporation and was controlled by
Manager Brecht and the Younkers I'M
der an understanding that any stock
thrown on the market by other stock
holders should be bought by them
equally so that neither party would
secure a majority over the other. For
a long time everything way harmoni-
Gus and each interest was satisfied
with the treatment of the other.
A few weeks ago Mr.. Brecht was
informed by one Of the Younkers that
they had secured an option on a large
block Of stock held by minority stock
holders and had decided to take it.
II think we had better take it," said
Mr.. Brecht. II will give you a check
for my half when you are ready to
close the deal" -. 49,, +. y e.
III we take it," said Mr.. Younker,
1--WE will take it ourselves, as we think
it is good investment for us without
dividing" - !
But under our agreement was to
have half of any stock that was on
the market"
1--WE don't know about any such
agreement and we want the stock"
"1hat will give you a majority OF
stock. ~ in ID; a. = .T5&z
eve fully realize that point and that
ia the reason we want it. We have
decided that We can run The bushes.
wen replied M 4. 4. Brecnt. II TIA,
is your intention you can buy the
whole thing or II you choose will
buy your interests" &c..
1--WE don't need any more stock and
we do not care to sell"
The conversation had reached an In
teresting stage. Brecht was worried
| The full force of the argument had
Just dawned on him. But he was not
left without resources. He was still
the manaxer Of the business and knew
that he was not without influence.
"You refuse the overtures / have
! made" said he, "and will apply to
the courts for g. receiver and thai
quicker. than you can make any kind
of q DEAL"
This was a new turn not contem-
plated and it. occasioned CONSERVATION
in the Younker forces. They rallied
however, and asked Brecht to restate
his proposition. Offers and counter
offers were made and finally Brecht
made a. give or take proposition. The
Younkers wanted 80 days to consider
Seven days were given and Mr.. Youn-
kers stated that 1t was their opinion
that they would buy. .Ezr
There he was left high and dry
practically frozen out Of q business
that he had built up but which capt.
tai did not recognize except In q dol
Mars and cent valuation. His rights
l2.ere only in the cash value. No other
c,Am: ..
1e felt badly. Who wouldn't? He
wanted to tell his troubles to some
one, but didn't know who. He hadn't
become well enough acquainted with
the policeman on that beat to pour
grief into his ear. His business asso.
ciates he knew would say that II told
you So" He didn't like to carry bust
| ness home with him so he did what
few business men would do He went
down to- the boiler room and talked II
over with the engineer. Some business
men would say that Brecht was foo
to confide his business affairs to an
employee. E%t Mr.
Any way they discussed the problem
in all it's phases and Brecht felt bet.
ter. His mind was q relieved even
though lie had not accomplished any
thing. He didn't expect to solve the
problem. The. problem had already
been solved and without doubt he was
out Of it. .,~>s
The engineer with all the solemnity
of +. Judge, said: ill.,. ...
-'Mr. Brecht you fave been a cold.
blooded manager in many ways but
you have always been honest. YOU
4 have been the hardest nan ever
worked Tor. to get concessions from
but when you once promised you kept
your word religiously. The boys have
| all fe,t that they could rely on you.