The Washington times., 1902-06-18
Stormy Session of Stock
holders in Alexandra
Yesterday.
ARRANGED BY MR.. BROWN
National Dis;;fectant Company, of New
York, Secures Majority of Stock and
VIII Reorgani-c Concern - Major
Arnes Gets Els Lots Back.

! ALEXANDRIA, Va. juno 1.-THE
stockholders of the Kretol Cheriien
Company, Of this city. which was piaceC
in the hands CT receiver by the courts
Of Washington and this city en- Marct
| 10, held an adjourned meeting this att
ernoon for the purpose OF receiving
report relative 20 the reorganization oi
the company. The meeting was one oi
the most stormy ever held by the stock
holders. Attorney George :. Chase. oil
Washington, who represents the stock
holders, severely arraigled Rollo w
Browne, who is the promoter of the
company.
The meeting was called to order
shortly after 4 o'clock and remained in
session until after O'Clock. Rev. Alex
ander Kent. D. D., Of Washington, pre-
sided. There were thirtyfour stock
holders present. BY this number 81 ,51I
out of IS, ,00o shares Of the stock were
represented.
The object of the meeting was to re-
ccivc ID report which was expected from
the committee appointed at the last
meeting to present plan for reorgan-
izing the company. The committee sub
feet that they had held four meetings,
and, having understood that the Ma
tional Disinfectant Company, Of New
York, had absorbed a majority of the
stock OF the Kretol Company, had come
10 the conclusion that it was useless TO
submit any plan for reorganization. In
concluding their report they stated that
MIR Rollo W. Browne would outline Z
plan by which each holder Of Kretol
stock could dispose of it to the National
this point one of the stockholders
wanted to know by what right the COM
mittee had shifted its duties to some
one else.
Miss FauatIeroy, who had acted as
secretary of the committee, stated that
three meetings had been held, but be-
ing without some necessary data, they
had heen unable TO transact any busi-
ness. She stated that at a fourth meet
ing Mr.. Frank e. Anderson, of this city.
attorney for the Kretol Company, and
several members CT the committee. also
had delivered a message from Mr..
Browne to tire eject that he had 1r-
ranged q Plan whereby the kretol Gem
pany could te GOTTEN cut Of its diff
culties. and asked that two members OF
the committee meet him privately. Miss
Fauntleroy stated that. after some hesi-
fancy. she and Mr.. Hodges had met Mr..
Browne but the result of the meeting
was rot satisfactory to them. She fur
ther stated that Mr.. Browne was a mem
Der of the committee. but had failed to
attend any CT its meetings.
Defended the Committee.
Mr.. Frank E. Andersen. counsel for
ed the action of the committee. He
asked that Mr.. Brownies plan be listen
ed to carefull-. In the course Of his
remarks he was interrupted by one of
the stockholders asking him il the plant
in this city was earning anything. Nj.
Anderson replied that it was not. and
subsequently stated that the receiver
had been compelled to borrow $4,000 on
the building for the purpose OF meeting
the expenses. This statement was re-
ceived with surprise by many CT the
stockholders. Mr.. Anderson then went
into details. explaining why the plant
was not paying under the receivership.
His explanation seemed satisfactory to
those present.
Attorney Chase. of Washington, who
represents several OF the stockholders,
severely criticised the committee for
boi foil m
organization. Several stockholders were
of the opinion that If the committee
favored the plan of Mr.. Browne trey
should have reported that one or else
should have arranged a report them
selves.
Mr. Browne admitted that for several
weeks past he had been working quiet
iy, and in an apparently mysterious
manner. He denied. however, that there
was anything to be hidden. He said
that he had put his shoulder to the
wheel to keep the company out of the
courts. Had he not done so, he said.
within ninety days every director Of the
company would be brought before the
courts. He stated further that at his
own expense he had gone 10 New York
and organized the National Ois'ufectaGt
Company, which now had pledged to it
Il per cent of the stock ii tho Sre-
.ol Company. According to bis plan.
stock IN the New York Company. worth
go per share. was TO be given in rA-
change for Kretol stock % the rxten:
Of the actual amount paid to The latter
company for stock. He claimed that the
stock of the new company vas wcr;n
800 per share. and that company could
do business far better than the old COM
many which is now in the hands OF a