New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1904-01-16
BIG SHIFT IN I. s. REALTY
MANY DIRECTORS RESIGN.
Black and StilLman an Control
President johnson Ont.

The report that Harry S. Black. at one time
president Of the George A. Fuller Company,
and James Stillman, president Of the National
City Bank, had gained control Of the United
States Realty and Construction Company was
yesterday clearly shown be a fact. at
meeting of the board of directors Of the COM
pany.
When the meeting over the company
was without president, there were thirteen va
cancies in the original board Of directors there
were three new members OF the board and four
designations had not been acted upon. Whole
sale designations from the board of directors
had beer expected. but few persons were aware
that Bradish Johnson, who was elected presi-
dent OF the company soon after its incorpora-
ton, intended to sever at this time his connec-
ton with the company. 1t is now likely that
Harry S. Black will be chosen in a few days TO
fill the vacancy caused by the resignation or Mr.
johnson, and that successor to eX-Judge sam
uel 2. Mcconnell, who recently retired from the
presidency of the Fuller Company, subsidiary
concern, will be named. Paul Starrett, general
manager of the company, is said to be slated for
that place
The meeting was held at noon in the office of
the company at No. 135 Broadway. Soon after
Harry S. Black. chairman of the board of di-
rectors, and Robert Z. Bowling. vice-presi-
dent:
STATEMENT OF MEssRs. BLACK AND
AT a meeting of the board of directors OF the
United States Realty and Construction Company
held today the following destinations were ae-
Converse. Hugh j; Grant James II. Hyde, Charles
lizard, Henry MorgentR9u. William II. Mcintyre
James Speyer Charles H. Tweed and Cornelius
to hi vacancies t i F. H. Ray. Edwin Hawey and
II. E Huntington. The other vacancies Will short
with the balance of the board
1t is the intention of the interests now in control
a
The unfair and unjust criticism of the corpora
ready been refuted. and the present board had al
ready taken steps TO remedy any de1ects whlch
existed; The corporation has great, elements of
strength, and under an intelligent and harmonious
management Will have n successful career.
AT the office Of Speyer & Co. statement was
also issued regarding the meeting which threw
additional light the makeup of the present
board of directors That statement contained
the names of the ten directors who had re-
signed at the meeting yesterday. and added;
The designations of G. C. Haven. Hugh ]: Grant
and Henry Morgenthau have been recently pre-
NJ. Fellows. Faulkner I'M and Mo Morris B. Mead
by the board. but have not yet been acted
upon - ~ ,
bulge eorge & CLARK Clark Robert Z bowling h H
Eaks Jghn M GaieS lem Ma 4d gsson I
Sands Charles NJ Schwab. James Stillman and
p n. Valentine.
None
would say why the resignation Of 6. c.. Haven
had not been acted upon. Mr.. Haven is absent
from the city and II was thought that action
on his resignation had been deferred until his
return home Frank II. Ray one OF the three
directors elected yesterday lives in Chicago
and II. L. Huntington in San Francisco Mr.
Ray is director Of many tobacco companies,
and Messrs. Hawley and Huntington are large
ly interested in Western railroads.
Several months ago a committee of stock
holders OF the realty company was organized TO
bring about reforms in the management OF the
company, especially I'm the construction depart
meut.
company, said late yesterday, when asked II
there had been any talk at the meeting regard
ing a successor to Mr.. Johnson:
mo, that subject has not yet been discussed.
and I do not know when Il will be.
Mr.. Albert Flake and l have decided to re-
main officials of the company TO protect our own
interests and the interests OF those persons who
became Identified with the company through our
influence
The subordination Of the construction to the
realty feature It is said, OF the prin-
cipal changes contemplated in the reorganiza-
ton plan which the committee of stockholders
would have carried into effect II u majority OF
the stock had been deposited in response 10 its
invitation. This programme. however. appar-
emily did not commend itself 10 the stock
holders generally, as only a comparatively
small amount OF the stock was turned in. II
may fairly be assumed that hencefOrth the
construction department will be extended and
energized, as il Is understood to be the opinion
OF the interests at present controlling the
United States Realty and Construction Company
that there IS n wide and profitable field in the
demand for the erection of modern office build
ings throughout the United States, demand
which a large construction company is espe-
cially qualified to supply.