The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-06-08
BATTLE FOR CONTROL.
G. B. Hoffman Will Probably Win in
Grain Company Contest

Upwards of a hundred representa-
tfves of stockholders in the Farmers
Co Operative Shipping association are
meeting in the city council chamber
this afternoon, and there the contest
for the control of the company Will be
fought out. There are about 1000
shareholders in the concern, put most
of them are in local organizations,
and each representative present is
loaded with proxies.
John F. Willis of McLouth, who
was the Populist candidate for COVER
nor in 1890, was elected temporary
chairman of the meeting, and H
SignOr and c. Vincent secretaries
Committees on credentials and order
of business were appointed, and IT is
said the Hoffman men are in control
of these. Willis is supposed TO pc
non-factional. Another session Will
be held at 8 o'clock tonight
The indications are that G. B. Holt
man. the general manager, will win
the control of the concern, and that
James Butler, the present president
will be deposed. It is said that both
Butler and Judge S. H. Allen will be
deposed from the board of directors.
Judge Allen is taking sides with But
Ter.
One of the charges which Hoff-
mans enemies are urging against MN
is that he has been dealing in futures.
in connection with his private bust
ness. and the bylaws of the company
prohibit anyone in connection with 1t
from that kind of business. The story
has been spread that the board of di
rectors recently investigated this
charge and that three of them, But
Ter, Allen and H. r. Signor of Okla
homa, voted to depose Hoffman as
general manager, but the other five
directors stood by him.
There have been numerous confer
ences and caucuSes by the stock
holders here within the last "a hours,
and it is claimed that Hoffman has
the support of the majority of the
stock represented here today.
1t is certain that the company has
been highly successful under Hoff-
mans management. w. T. Hopkins,
auditor of the company, who is a par
tisan of Hoffman's, in discussing it
said today:
1T would have been impossible to
run the company more successfully. 1t
had a working cash capital of just
about $22, 900. With that as a basis the
company made a net profit of 100000
from June of last year, when it first
began business, up to May 20 of this
year. A dividend of 8 per cent has been
paid on the stock; 10 per cent of the
profits have been set aside for surplus
and a division of 1 1-3 cents a bushel
has been ordered returned to the mem
bers on all wheat which they have sold
the company. This division will take
about ST. 600.
L think H. n. Gaines is responsible
for much of the suspicion that existed
here. [ got here yesterday and found
a lot of farmers had come here As hours
in advance of the meeting because
Gaines had made them believe they had
to come to protect their interests. But
when they know how the business has
been run they are perfectly satisfied.
Butler, Vincent, Allen and Gaines have
cost the association about $100 900, and
either we will get rid of them at this
meeting or they will run the whole
thing. This next year we will either
get all the grafters out or the grafters
will get the whole thing. 1t has cost
about $4,000 to conduct the business,
another $4,000 has gone for the ex-
penses of local companies, and the
grafters have got another $4,000"
Some of the stockholders gave Butler
credit for organizing the association and
they are in favor of retaining him as
also has friends who think he is entitled
to recognition by the association, as he
has given the use of his paper, the Farm
erS' Advocate, to the association and he
cal associations. Gaines is entirely out
of the concern, as Butler refused to sell
him any stock He can not even attend
the meetings of the stockholders if an
executive session is held
Gaines is both against Hoffman and
Butler, but he says he does not care
much personally about the fight, as he
has his hands full of his new National
One of the charges made against Hoff-
man by his enemies is that he is operat-
ing an elevator of his own at MOrland,
Graham county, in opposition to the farm
let the farmers elevator pay within
or cents as much for wheat his own
elevator pays. Consequently all the wheat
goes to Honman's private elevator.