The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-01-10
His Explanation. However, Well Re-
ceived by the Shareholders, Who
Cheered Him at the Close.
REORGANIZATION PROPOSED
AN ARRANGEMENT EFFECTED WITH
THE CONCERNS CREDITORS.
Protection for German AGriculturists
Proposed by Count Won BuelOw,
Imperial Chancellor.

LONDON, Jan. 9.-Amid cries of Turn
him outr' hootings and other hostile inter
ruptions, the Marquis Of Dufferin and Ava.
chairman of the suspended London and
Globe Finance Corporation, limited, at the
extraordinary meeting of the company
called for to-day, succeeded in at least
temporarily appeasing the wrath of the
shareholders. The hall was packed and
the directors were evidently supported by
considerable faction. warm cheering
was mingled with the Kisses and boots. AS
result of the explanation of the directors
the shareholders voted an adjournment un-
til Monday. when a scheme for the recon-
struction of the concern will be submitted.
Lord Dufferin spoke with evident emotion
as he explained his personal relations with
the corporation, and the result of the meet
ing was largely a tribute to himself
During the course of his remarks he
explained that he was induced to accept
the craftsmanship at the solicitations of
the late Lord Loeb and Sir William Rob-
inson. Lord Dufferin added that he felt
that when such prominent men were con-
nected with the concern he could legiti-
mately join. He soon discovered that ne
had bitter opponents who desired his resig.
nation. hoping that depreciation of the
securities would follow, but he stuck to
his position and investments and, though
greater sufferer than most of the shal e.
holders, he had no regret If he had helped
to convince them of his good faith. Later
he found the duties to be a physical strain
beyond his advancing years and he wanted
to withdraw, but was haunted by the fear
of the detrimental effect of his withdrawal
and held on to the craftsmanship until
he received news of the serious condition
of his youngest son, when he yielded 20
the mothers prayer to take her at once
to South Africa, and he sent in his resg-
nation with a clear conscience, believing
that the surrender of his position under
such circumstances was so natural IL at
no one would dream of placing a sinister
Interpretation upon it. He had no antici-
patton then that the London and GLOBE
would default from its obligations on the
Stock Exchange. The news reached him
in Ireland, and in the presence of such
a calamity he felt that every private con-
sideration must be sunk. In conclusion,
Lord Dufferin, who was deeply moved. de-
clared that the patience and generosity
with which the shareholders had head
him would be one of the brightest souve-
Mrs of his old age. He resumed his seat
amid loud cheers.
Whitaker Wright's reception was of
mixed character. He announced that the
directors had practically arranged with
the creditors and that the company
would be sailing smoothly again. 1t would
ha he
holders would hear that all their inter-
ests were safe and that scheme for the
reconstruction of the company would be
proposed, insuring its future prosperity
Mr.. Wright added that he had advanced a
quarter of a half-million pounds to tide the
corporation over its struggles. Mr. Wright
further remarks were listened to with con-
siderable impatience and the meeting
closed with further cheers for Lord and
Lady Dufferin.