New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-10-20
STOCKHOLDERS In RIOT.
BUILDING LOAN MEETING.
Won't Bear $3.50 900 Defcit-Com-
pany's Lacquer Is Struck.

The meeting of the stockholders of the New FORK
Building Loan Banking Company. which was called
yesterday by the officers of the concern 10 ger
them to bear the burden of the $4,000 deficit and
which ended in riot. resulted so representatives
of the shareholders say. in distinct gain Tor
their side
The law firm of McCloskey. Better & Flash. which
has for some time been acting I'm the interests Of
individual creditors has been formally retained by
the Protective League Of the shareholders ;. j.
Flash said last evening:
The meeting from which the Officers , expected ws SO
pretty efectually shown them that all efforts to
clear the concern Of its liabilities are In vain ana
1t was a good lively riot and II jhe police had
not interfered am positive that blood would h'tEe
officers attempted to take charge The stockh3d-
ers TOOK possession OF the meetins' PdsSou t
with effective fight our petition for receiver
The officers n the company have received hve
Gays in which TO answer At The expiration is v 2I
be in our favor and that Mr.. Preston viii be re-
the federal court appointed in his place. We are
arranging now 10 engage large hall and in aoout
a week will have a large mass meeting and perfect
plans of action.
The stockholders OF the company number about
fourteen thousand. They had been summoned yes
terday with the hope that they could be induced
TO save the officers.
Some five thousand enraged stockholders clamored
for admittance the Constable Building yesterday,
and Fifth-ave. was blocked with the overflow.
There were many demonstratiye Italians in the
crowd.
No sooner had Joseph r. Eustace, counsel for
the company stated the object OF the meeting than
u general howl arose. ''Swinde!" thieves rob
hors,' were some OF the terms hurled at the thor
oughly frightened officers. Mr. Eustace was roughly
hustled out OF the room. An Italian woman struck
him in the face he pushed through the
crowd but he made no protest. Meanwhile reserves
arrived.
Then Charles S. Selner of No 367 Fulton-st..
brooklyn secretary of the Protective League,
served an injunction prohibiting any action ON the
call for the meeting and the officers retired from
tho field. Louis Grant elected chairman by the
outicns prepared by the Protective League were
unanimously adopted.
These resolutions represent three thousand of the
shareholders. They protest against the hold
ing or the meeting at the call of tho officers. They
also refuse to grant the proxy vote asked by the
is responsible for the condition of the company, and
demand the resignation of all the officers and d-
rectorS.
Assistant District Attorney Miner announced last
evening that he had received letter from the ref
cree. James J. Farren. of Albany who reported
that q receiver should be appointed and that man
named Preston had received the appointment. 1t
charged. il is declared. that the company had
made false reports to the Banking Department on
December 81 1902 in that it did give the proper
assets and liabilities.
Mr.. Farren reported TO Assistant District Attor-
ney Miner that in his opinion the reports OF the
company are not fully true. and that the charges
which be found in the County Clerks Offices in
Kings, Queens, Newly and Westminster coun-
ties. 1t declared that a rigid investigation
would soon be under way