The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-11-27
Tactics Adopted by Leader of the
Wreckers Makes Radical Action
Necessary, Directors Say.
REFUSED TO HONOR BIG CHECK
JAMES w. LILLY WAS NOT RECOG.
NIZED AS NEW TREASURER.
FrenxeI Declined to Surrender 5000
of Company's Funds without
Certain Kind of Voucher.

A called meeting OF the directors of the
Consumers Gas Trust Company will be
held at IL o'clock this morning to Dust John
z. Frenzel from the Craftsmanship of the
finance committee. The action has be-
come necessary because of Mr.. Frenzel's
refusal to surrender funds of the company
to the new treasurer, James w. Lilly.
Wednesday afternoon Mr.. Lilly went to
the Merchants National Bank with check
drawn by himself, calling for $4,000 Of the
fund of the Consumers Company on de-
post with the Frerzel institution. Mr..
Lilly intended to transfer the money from
the Merchants to the Indiana National
Bank. Otto Frenzel. president of the bank.
was absent and John p. Frenzel, the vice
president and acting president, refused to
honor the check.
REFUSED TO HONOR CHECK.
Mr.. Frenzel told Mr.. Lilly that no funds
of the Consumers Company could be paid
out without voucher signed by himself
as chairman of the finance committee and
Bement Lyman as secretary. Mr.. Lilly
called Mr.. Frenzels attention to the fact
that he had been duly elected treasurer
of the company, and inquired what motive
animated Mr.. FrenZel in his astonishing
refusal to surrender the company's money
to the proper official. Mr.. Frenzel would
not discuss the matter, simply holding TO
his resolution TO refuse to honor the check.
When Mr. Lilly informed the new MEM
berS of the directorate and A. A. Barnes,
the old member, who stands with the
people in their fight, they were righteously
angered at the tactics adopted by Mr..
Frenzel. call for a special meeting was
A. A. Barnes, Hervey Bates, jr., and IL.
C. Atkins. Mr.. Richards could not be
found. but he signed the call yesterday
morning.
The purposes of the meeting are to Gust
Mr.. Frenzel as chairman of the finance
and to f ths to nre
serve the company; formally to designate
the depository or repositories in which the
funds OF the company shail De placeo' 10
arrange for the prompt transfer OF the
treasurer's books, and to attend to such
other important matters as are implied in
the call.
DISCREPANCY IN FIGURES.
According to the statement of the Mer-
chants National Bank the funds Of the
Consumers Gas Trust Company in the
Frenzel institution total s112,76296 On the
other hand a statement prepared by E. c.
Dunmeyer, clerk of the gas company de-
clares that the funds of the company in the
bank should amount to $3.50, 7066S The dis
crepancy is so large that it win be investi-
From day to day Mr.. Lilly has been put
off at the gas company's Office. He was in
formed several times that the balances have
not been struck. Secretary Lyman then
| raised the point that the funds could not
| be transferred without voucher signed by
Mr. Frenzel and himself.
The new directors and Mr.. Barnes are
determined that the Frenzel domination
| shall end to-day, If it be possible to Gust
| John p. Frenzel at the special meeting. If
not 1t will be done at the regular meeting
| next Tuesday. The new directors have no
| interest personally In the disposition of the
| funds At the conference held in the office
of Major Richards, prior to the first meet
| ing of the new board, 1t was stated by each
man present, including A. A. Barnes, that
| none wished the funds for any bank in
which he was interested. All believe. how
ever, that the Frenzels have grown rich
enough off the interest charges on the COM
| pany's funds and that the time has come
| to place the money elsewhere.
Alfred F. Potts. from reliable figures, has
| estimated that the FrenZels have derived
/ about 500 900 from interest charges the
| 81, 600 900 of Consumers Company funds de-
posted with them since the formation of
| the company.