New-York tribune., 1901-08-04
THE CORN KINGS" TROUBLES.
ONE OF HIS ASSOCIATES RESIGNS FROM THE
PHILLIPS COMPANY.

Chicago. Aug. (SpeciaD.-One of George H.
Phillipss associates in the Phillips Company Abel
d Osnan, the secretary. has resigned Apparently
Mr.. Osman has left the city. and his wife who was
her home, No. 156 North Kedzie-ave, said
she could not tell where her husband could be
found. His retirement is said to be complete. hav-
ing stepped down and out not only as officer, but
also as a stockholder of the company. Vice-Presi-
dent Sackett was informed that statement for
the public regarding Osman desired from Mr..
Phillips. and Mr. Sackett replied;
&C. B Moore and myself going out to cork up
Phillips, and if get to him before you do you
will not get a word out of him about Osman to-
day
Mr. Phillips was out of his office all day. The
Corn King according TO his wife, at home
all the morning, and did not come downtown until
l o'clock this afternoon. when he was closeted
with Vice-President Sackett. Director Moore and
the attorney Mr.. Goodwin. in the latters Office in
the Womans Temple. President Collins was then
appealed TO for information
rs it true, Mr.. Collins, that Abel D. Osman has
resigned his position secretary and has relin-
quished his stock in your company
NO. sir il is not
crossfre Of questions elected the informa-
tion that Osman had both resigned and withdrawn
from the company
Well yes; I must say that IL is true. Osman did
resign by request, and also relnquished his stock
by request Further than that l will not say.
can't talk any more concerning the affair.
Last Monday, before the Phillips company and
the public had any intimation of what was 10
happen in the affairs of the company five addi-
tonal members were elected to the board of di-
rectors at the regular monthly meeting of the
board which consisted Of four members. r,
Collins, president of the company; George H. Phil
lips. treasurer and manager. Daniel HILL vice
president and Abel d. Osman secretary. The
members elected w. l.. SaCkett. l.. }.
Bowman, c. B. Moore, Ben Block and j. X.
Bauman
Mr.. Goodwin Informed the board that under its
charter additional members could not be elected
legally unless the contemplated action was adVer-
tised to the stockholders. Then, Mr. Goodwin
says. Osman resigned. and explained his action by
saving that he would make way for one whose
holdings We're larger The resignation, so the
lawyer says. a -cepted. and G. B. Moore, one
of the special auditing committee was elected TO
the vacancy. The resignation. said Mr.. Goodwin.
was the cause of Osman giving up his secretary
ship. Mr. Philips then elected secretary.
President Daniel Hin announced that he was goihg
away for the summer. and thought il best 10 re-
sign both as vice-presdent and director; with inc
acceptance of both. w. :. Sackett. another member
OF the special auditing committee, was placed In
Office Is holding the place or Nlce-pTeSl-
dent and a member of the board Of directors.
1t * announced by Mr. Goodwin that the expert
accountants cannot possibly get the books in con
ditiCn FOR the comUany 10 resume business Mon
day, but that it viii open Wednesday. Errors
continue 10 he found. both In favor OF the Gus
and the company.