The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-07-23
Explanation Of tile 81 High Priced
Loan Of 1908 Accepted by
tile. Stockholders.
SUMMARY OF REsoURCEs
MADE b 0FFlClA
All Interests Substantial iii Ac-#
4 cord in Anticipating 4 Pros
~; porous Year for the Corp
81 ration. and Dis atisfcd
Element ], Small
Minority.

The ne WY chosen Board Of Directors
Sofathe Virginia Carolina g Chemical Cont
pany. ii, session lii New --ork on Thurs
day. elected all the old fficersa fol- l;
lows: i8. II @
Samuel Morgan, presidstlt Fortesauee e
Whlttle. first vice-presid dent E. z. 4 ys1i ddi-
son, second vice president; B $. srrayers,
treasurer: s. Dabney crenstlaw, seere-;. sa, \;
tary.:: e. Orgairi, q audit finance 1,-'
Commit tee-J B. Dennis. OF Blair /, q Co:
7 stotesbury. of 5. Pierpont Aiorga,, g "
& CO.; Samuel Spencer presid dent OF he
Southern RAILWAY v and ! Henry w tiers,
$presi dent D Of the Atlantic Coast u Line 40
Railway. ssss
The Executive Committee consists ~ Of
s. Is. Morgan, 6Fortesdue yhittle, Jamesi
M Boyd and 4. c. w lliams. Jr.
Nearly nll the; Richrnnod officers and
5dlrec tors 8of the big ferti ilizer orporatioI
returned to theScity yesterday. including.
Secretary S. D. Crens i1aw reasnlersss
Travers and others. *, Il Gsrensh haw;
was III d Siiis desk, l,l,. was too. busy to see
news pare M
~ The announcement OF he re.eec ion of
the officers OF tile com pany vi tlont exr-
2ceptfonss was received with z pleasure NY
their friends In this city. Thc failureaof
the stockholders to re.elect Messrs.
3Crenshaw, Trayers5 III and a. r. Ellerson
directors Is not regar rde d as in any wise
freflecting upon hem or their discharEe.
sof their d utes AS directors 3orSE ficers.
nor is It an indca ton OF an " la ack SSSof e
personal regard forat Them. It Is said to-
bf nerely the lis,ial pol among large
corpora ton 81 of53;l financial rhraa cter3 IN
which the o fficers In a I've direction 6
the opera tons Of the company are Esepa-
rated from the. directors. 7 hey Will
thus not be placed und er$ the necessity
Iof having as direct tors 10 a pprove or pass
upon their own dlscharge \ Of duties as
operating officers. This Is not unusual.
but. is the custom Ii, large sttutions Q {
this character. On the OF bsrs hand. Z the
election Of the old Officers is regarded!
as a complete endorsement of hem iii
gtheiraof fficial and persona relations with
the company.
Mr.. Williams's Denial.
& The report published a S a rumor that
Mr.. Cha rles u. Williams, who attended
the stockhold dcrs' meeting as the auot thor
\ ers mot In accord wit b n he polio of
the managemento or the .ompanyiin in every
respect, would probayl " proposc asking
IA areceivershIp for the compa ny,3s nm S set
completely at rest last night IS by Mr..
Williams himself upon his arrival III the
city,. He declared tha t .hcS contemplated
mo- such3&nction or a attcmpt and that
there was no founda ton for such II q.
When asked . f. he knew of any
such plan on the part o t he minority
to3institute proceedings he re-
piled IN the mega tive. So faraas car he
fnscertained.ath the minority interests 5ac-
cept I he situation, and allBWill pull to-
Ggethepf for the success of the company,
8urd er5 the newly chosen directorate 5sSlss
S5 The reelection of Mr.. S. $DRbney Cren-
isha.w as secretary Is regarded as set
ting a t rest any rumor that lles contenl-
irated retiring from the Chemica Com
pnnyi and organizing. or4attemptipg to
organize rival fertilIze companies into
corporal ion. AS stat ted. /, Mr..
gCrenShaw was too busy yesterday to
make a statement, II, rldeed, he desired
The report OF the stockholders' meet
ing VI tho New York C'omlne ercal. Is op-
stlmistic, and SO are the reports tele:-
sra Pied from, NsE Z! York ysst terday. con;
neeting. and the pros poets of the .conl-
/ panys fora fine year's business 5g
Quotes Mr.. Walters. 89S
h In its report the Commercial tes a
comparison Of the fiscal showing az the
company for 1901 with that for j l9O2,
making a. era tifyng showing by COM
tparison, Continuing, It thus quotes Mr..