New-York tribune., 1901-03-09
ZINC CONCERN COLLAPSES
,Tr0NAL COMPANY GOES INTO \
rrrFWER'S HANDS.

'f-t'FlA l.fN 'tANalS.
SD, -7.-eh s-The International Zinc
'ol has zone into the hands of a receiver.
Co',f s-,s which are said 10 be practically
"" The International was capitalized at
s.aoao 400 and sold ts stocks in various Ameri-
SE Ia English cities at almost par, much of
'aD ~,ocl being bought by wage earners and
~ ,oonle of small means. The names Of
our ~ NeU-York and Boston were az the
lanheL 80 company. and the names Of some
hesa % Joplin mining men and officials were
1rohlilssa,c,afed with the company. but they deny
sso. authorized the use of their names.
-. Failure u the company was announced in
AZ, e.-as- Yesterday afternoon. The company
,esces until two months ago al No. 40 Wall
no ,ser the name Of Joshua Brown & Co,
-,'.-s 80 n New-York, Philadelphia ana Bos-
!, vas learned yesterday that there were
"- .,,er members of the firm whose names
arnesred in any Of the transactions Of
.,~,rarv The firm advertised extensively
~ y, -.,eived many subscriptions at once.
~, the company began business il issued
..-,,,,ve prospectus which stated that the
20, stock Of the company was divided into
q rflIion shares of the par value OF 81. The
,.,,us added that the company owned 10
-. sourb of Webb City and Carterville, No;
- eve acres at Centreville. and forty-eight
- Southwest Galena This property was
80 in addition 10 three zinc mines, the most
,..,a NJ which was the Free Coinage Mine,
:. Torlin. No II was also said in the firms ad-
easements that the company was earning %
NV cent on its capital, issuing q u per cent
stsaeua and forwarding 10 per cent 10 the
surplus.
Pine-st. banking firm is said 10 have as
.,,ss purchasers that the company was fully
,.nable Of paying monthly dividend Of per
csnt. The officers Of the company were given
ss follows
President A. c. Foster, joplin. No director OF
he T'rion Stock Yards Company and Nice-presi-
ss5, ssT I'd me South Omaha Savings Bank.
joe-President .. X. Wenrch, Joplin. No post
nssS cSfr0ry ~ ana treasurer B. Carmichael Joplin
No. manager Of The Benson Electric Railroad Of
cSaries p Bennett Providence. R. L; Secretary
of STATE of Rhode Island
- -nsSing Process Company. Boston.
Consulting engineer. George Z. QCinby, Joplin,
No, STATE Inspector Of Mines Of the State Of Mis-
'i5ot Register and transfer agent, Knickerbooker
Charles Dougherty, an exporter Of canned
eoods az No CS wall-st., and a holder OF $50
shares Of International Zine stock, when seen
las, night at his home no. S3s West Thirtieth-
ST. said:
have been engaged for the last four months
IN looking into the affairs of the company.
There are about eighteen hundred stockholders,
some OF whom high as twelve hundred
shares but the majority are working people.
many OF whom are women. The three mines
owned by the company are bona foe mines,
upon which about $4,000 was spent by the
pTomoters This left SS600O0 of the capital
stock which cannot be accounted for by the
stockholders. We believe that about three hun
dred thousand shares were given away TO well
known people for the use OF their names.
The president Of the company met number
a. the stockholders at the Waldorf three weeks
ago, and confessed that he had no idea Of how
the company was being managed. ] have writ
ten 10 Mr. Quinby who is given in the pros
pectus consulting engineer. with ofhces at
Joplin. Mo Recently I received a letter from
hlm in which he said that he had never given
pernission 70 any one 10 use his name in such
& connection. j have asCertained that other
names have been used without permission being
FIRST obtained
believe that Brown. the local head Of the
company is still in this city. ] have heard
that he calls daily for his mail at the Wall-st.
address Brown. however, only owned fifth
q the stock Of the company The man who
n the New-York Stock Exchange. A meeting
q the stockholders viii be held in this city on
March is for the purpose Of having him expelled
from the Exchange. We think he is the real
power behind Brown. 1t seems to us that they
are bringing a foreclosure with the sole idea
q acquiring what stock they can collect. We
have had the foreclosure postponed until March
so when We hope to get possession Of the prop
ny and 10 reOrganiZe the company.