The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1902-01-17
BANKERS BOARDS
SIGNIFICANT ACTION
Everett - Continued In Charge,
While Moore 10 Com PEELED to
Drop Out OF the Company's
Affairs.

Cleveland, Jan. 16.-The stockhold-
ers Of the Big Consolidated held their
annual meeting yesterday afternoon
and to man extended their best
wishes and hearty support to Henry A
Everett. Mr.. Everett was reelected
as president of the system and to the
board of directors without a dissenting
vote.
Two changes were made, George S
Russell, cashier of the Bank Of Com
merce National association, being
elected treasurer to take the place of
p. W. Moore, and Calvary Morris to
be a director, also taking the place of
Mr.. Moore.
Prior to the meeting there was n
conference between representatives Of
the company and the bankers COM
mittee that has charge of the affairs
| of the Everett-Moore syndicate. A
program was decided upon, which was
later carried out to the letter. The
statement was made at the preliminary
meeting that the bankers should have
representation on the board of direc-
| tors. It was finally decided that in
addition to Colonel Myron T. Her.
rick, who is a member OF the commit
tee and director of the company.
one other member of the committee
be given place on the board. 1t was
also decided to give the bankers COM
mittee representation among the exec
utive officers. 1t was agreed by all
interested that Mr. Everett was the
man for the presidency, SO there was
no opposition to his reelection. The
decision was finally reached that Ed
ward w. Moore should retire as treas
urer. and George s. Russell, cashier Of
the Bank of Commerce National asso-
citation, was decided upon as his sue
cessor. ..
The program met with the approval
Of all concerned.
NO INCREASE.
The proposed increase in capitaliza-
ton Of $1,000,000 was not discussed
at the meeting. A part Of this money
was to have been used to pay for new
equipment already ordered and much
Of which has already been delivered.
1t is understood that this will be car
ed for at present from the earnings
of the system. One of the directors
said:
Nothing will be done for the pres
ent. The funds needed for improve
ments and extensions will be provided
through some other plan. We deemed
1t inadvisable to bring up this ques-
tion until the affairs of the Everett
Moore syndicate had been cleared up.
The meeting from first to last was
harmonious. Mr.. Moore retired vol
UNFAIRLY when 1t became known that
the bankers, committee desired repre-
sentation on the board"
| The Big Consolidated has been re-
ported by the bankers committee as
being one of the very finest properties
under the control of the Everett-Moore
syndicate. But, owing to the affairs
of the syndicate. cians made some
time ago will be allowed to stand just
where they. are for the time being.
According to statements coming
from the bankers committee, the gen.
erai affairs are 80 shaping themselves
that in a comparatively short time
matters will be ready to be acted upon
along the lines as planned. The in
crease of the capitalization can then
be acted upon. This can be done, 1t
was stated yesterday, upon thirty
1 Gays nOJlce.
IN GOOD CONDITION.
/ A detailed statement Of the business
of the company every year since the
consolidation was effected in 1893 was
furnished the stockholders. The state
ment shows q splendid increase in gen.
eral business and in the company as a
paying investment. There Is over ST.
900, 900 increase in the gross receipts
- IT, ,ns.k
ter of dividends there Is an Increase of
$3.50, 900 as between 894 and 1901. The
figures for the last three years are:
Gross receipts Net income
1899 ....$1, 500, ,003 81 $313,48 Al
1900 ..... 2.061,504 9S 6S1,9S4 II
1901 2.296, ,897 85 786,714 16
The dividends have been: 1899,
$780, with 13.484.41 surplus; 1900,
$49o, 900, with $1s1,ss4.1l surplus; 1901,
$500, 900, with $266, 6,714.16 surplus. Last
year $748,561.81 was expended in i'm
provements.
The only session of the bankers
committee yesterday was In reference
to the affairs Of the Big Consolidated,
The regular sessions will be resumed
at 8 o'clock this afternoon. The state-
ment concerning the affairs and proper
ties of the Federal Telephone COM
pany was being proved and verified
yesterday. 1t will probably be issued
late this afternoon.
TRIBUTE TO EVERETT.
Aside from the fact that Mr.. Everett &
friends held majority of the shares
Of stock Of the railway, the reelection
of Mr.. Everett was looked upon yes
terday as a tribute to his worth as a
business man. It is considered as
forecasting the action Of the bankers
In the management Of the other tele.
phone and traction properties Of the
syndicate. Members Of the bankers