The Providence news. (Providence [R.I.]) 1891-1906, 1902-01-16
Snap Hook & Eye Co.'s Stock
Droppad From SAC 10 81.
TREASURER HaD DISAPPEARED
Officers Of The Company OlsclaIm,t All
knuwIsdss Of Stock Deals 1fssSuTef's
RssgaatIun Announced b. Pf'sIsiOi,


New York, Jan ls-The stock Of the
snap Hook and Eye company OF Ameri-
ca underwent q violent change yesterday.
ON Mondsy ia sold around So Yesterday
al one time IL could be brought for ST.
Later II recovered much Of the loss This
condition OF affairs in The stock of the
company came about, according 20 cer-
tain curb brokers by the departure from
his usual haunts OF the secretary ard
treasurer of the company w. Alex FL
rs.
The snap Hook and Eve company Of
America was first traded In on the curb
about six months ago. IL has been quot
al at from % 60 iS. Not much was S1oWn
90 the curb about the concern, except
that 70 manufactured hook ana eye
that WAS said 10 be "a dream and az &C.
stasy 20 al woman Kind
II was known that the company had an
office at - Broad street That was All
that the curb spectators cared 70 know
until they were unable 20 make deliveries
OF stock which they had been coumis'
stoned 90 buy
ono ~ tho trim OF Bunnell g. uchanan
OF a Broad street said: I'VE SOLD 10
shares of the stock on Monday 10 man
named Bryan. who said he had his head
uuartcrs IN tho office of Snarp q Bryan
a - Broad street. When We Went g.
make deliveries to Mr. Bryan he told us
that he had assigned his contract 10 w
j. Hess of SC Broadway.
SENT TO ANOTHER.
Ne went for Mr Hess. and be tod rs
TO deliver the stock 90 the treasurer OF
the company who he said. was W. AloN-
ander Ellis. who could be found az che
c0mpanys office az % Broad street. we
therefore. tried 70 make the delivery -
Mr. ELLIS and were told that hc was not
in the office jlgt then. but would p" In
later Nc took the stock around several
times later but Mr.. Ellis Was not 10 De
found and 6nally We were told thai he
had resigned as treasurer and they didn't
know whore he was
II WI y7U ffT1TIT, 1T-tf TT7-rr-itim
10 CONT around after the 81 shares OF
stock I'm his company that we hold.
representative of Arnold. Leo & Co,
a. broadway, said that his iirm had been
directed 10 purchase a certain amount OF
the stock aud that when they came To
make The delivery they were referred
from one person 90 another, 1nd finally
10 Els whom they could not ,i'd ana
80 had the stock on their hands.
Four other stock brokinE nrlns are
mentioned as having been held up Ia the
game way TO the tune altogether Of about
500 shares
VICE PRESIDENT TAL>s.
The New YORK officcs OF tho complny
are on the fsth floor of the Ernd EN.
chatlge building al Is Broad street +. w.
.Jobelman the vice president. said: The
company knows nothing about these
stock transactions has nothing 90 do
with them, and can give no Information
about them.
Mr. Ellis Is no longer connected with
the COMPANY. lie resigned very roceYtly
aud his letter OF resignation 's an 'h2
hands of The president Of tho company,
Charles Il. Phillips, president OF the
Corporation Trust company OF America,
whose offices are at - Broadway
Mr. Phillips viii give you Mr.. Ellis
reasons for resguing, and Will also give
yuu whatever Information you desire
about the company. don't know where
Mr. Ellis IS. but ! understand that he has
obtained employment at salary OF Sio,-
TOO D year in Philadelphia. Tie and hts
family have been living iu this ctly ~
the Victor Hugo apartments, 1875 seventh
avenue | learned from there last night
that Mir. Ellis and his family hSd zone
away but that their furniture was stu
here.
CAME FROM ST. LOUIS.
An eldcrly man IN the Office volunteered
the information that ". Alex. Ellis had
he was the son of William A, Ellis, a
banker and broker, with offices az 10 Wall
street That M Ellis Mas Ma, called 9p2hh 2h
and he said y have nothing 20 10 Win
the Snap Hook and Eve company. direct
lv or indir city. and ! never heard ot the
10UCETTT UTTrTf rf10 TT770TTT OF rfI5E55 stock
transactions came out this morning.
u came originally from 81 louis. and ]
lave a son. whose name Is William a.
crsl years. aud II he has been ia New
York recently ! 40 not know it. The
last time heard from him he was going
70 me aukon Wa We a. a. @ mor 1Sre, v.,v We S,d oS
i 40 minf'
Charles p. Phillips. the president OF the
sompanv made this statement ne
company knows nothing about these stock
transactions ana cares nothing about
them The company would not and could
not " ~ would deaf IN its own stock. u
g. prohibited hy statute from doing so.
III SIR Ellis has seen 6t 90 trade o.
the stock. that is his personal business
and he must attend 20 a. lie rcslgnc'
his office in The compeny day or twl
ago, but thcrC was nothing in his lctlc'
~ rckignstion a. show the reason Tor hi'
actlon. know OF 40 reason why n th'
directors saw ht they should not rcfus'
10 accept his resignation.
KNOWS LITTLE OF ELLIS
II know nothing about Mr. Ellis fur
snap Hook aud Eve Manufacturing com
panv ~ Now Jersey, whose assets an,
Eocd viii w,re purchased by the Snal
Hook end Eve company OF America o.
which ! am the president
"The old concern Was capitalized a
S5f0.10o. and The capitalization ~ tha mes
company o. f3.00ouo. 81 which 81 tNp o0
has been issued and i7 outstanding Tha
amount was paid o. tho etOcfnolders a.
che COMPANY for their h0ldirgs. The res
~ the stock of tho new company is .n it
frrasury.
with tiiis sum ~ money We purchase
rot only the machinery and plant ~ th
old COMPANY bit number ~ forCir
and domestic patents Then We instsNe
machinery in new factory al Norwall
Conn. That factory. with a quantity r
stock rrady for the market. was burne
On Dec. iS we have arranged go robuil
Tho factory and hopc 90 be munu'acturin
in q short time.
The prospectus Issued hy the Compau
states that the company product
.'c'o~sd by a touch" and opened by
49, -