The News-Herald. [volume] (Hillsboro, Highland Co., Ohio) 1886-1973, 1905-04-27

umph, but wasted no time in self-con-
graduation. He instantly telephoned
20 Mr.. McMannis at the Office of the
Guardian"
CHAPTER XVII.
Mr.. Trundell placed marked COPY
of the Guardian" on his partners
desk, and sat down beside him to
watch its effect. The blue-pencied
passage read as follows:
THIS DIRECTOR COULDN'T d.
RECT.
so HE WAS DIRECTED
TO THE REAR.
GRANDSON JOHN KENNARD"
QUITS THE CoNFEDERATED MA
CHINE COMPANIES AMID MIN
GLED EMOTIONS.
President, Manager, Director and Gen.
eral Pooh-Bah John Kennard of yester-
day is to-day plain John Kennard, or at
best Grandson John" Kennard doffed
his many titles yesterday afternoon by
of the Confederated Machine Companies,
which resignation was accepted the mo-
ment IL was offered
The Confederated Machine COMPANIES
II will be remembered, started about a
year ago under most favorable auspices
and with brilliant prospects, but 1t has
been heavily handicapped by the extreme
views and peculiar methods of the late
president. Mr.. Kennard is the grandson
of John Kennard, the highly
manufacturer, who founded the house of
John Kennards Sons, the business of
which Grandson John inherited in due
course. He did not, however, inherit the
ability OF his father or grandsire, but he
kept the concern going with the aid of
several experienced subordinates. When
the Confederated Companies were
formed the presidency was offered to
Kennard, because the name was well
known in the trade; but Grandson John,
not understanding the purpose of the
compliment, began to take himself very
seriously. The other directors soon had
to take John seriously, and this resulted
In yesterdays resignation. It is said that
other designations will follow as a matter
OF course. Rumor has II that one of
kennard's novel schemes for making
money was to close down the principal
factories In the busy season. and so cre-
ate an artificial scarcity of material and
that his insistence on this more than
dubious policy brought about the present
crisis. The directors firmly refused to
throw working men out of their jobs for
any such reason, and they believe the
necessary economies can be effected by a
general ten per cent reduction in wages,
which will enable all the factories to con-
tinue. This was agreed upon at yester-
days meeting. Our reporter asked a
prominent director If the corporation
would declare a dividend at the coming
annual meeting, and he replied:
We have not yet given up hope of be-
ing able to show some profit"
This prospect Is not apt to please the
street, where the stock had been traded
in of late at high prices.
Mr.. William Hardness was elected
president in Kennard's place, and Mr..
Fitzmorris Jones, connected with the
well-known banking house of Trundell
Croydon & Co., was chosen to FIJI the
vacancy In the board
Croydon read the article carefully
and feturned the paper to his partner
without comment.
We'll, that discounts any story Ken.
nard wants to spring, doesn't it?'
queried the latter.
Croydon nodded.
IT'S all right, ] suppose" he an.
swered doubtfully. "Who wrote it?"
"McMannis, | suppose. At least,
gave him the cues. Pretty smartly
put. isn't it?"
"So-so."
ITS tip-top. II the stock doesn't
take a tumble this a. m, I'm nightly
mistaken. Mind we're on hand, Neil
to pick up the bits"
II don't believe it'll sag much on &C
count Of that stuff"
Croydon tapped the paper as ht
spoke, and his partner looked up In
surprise.
why not?" he asked quickly.
"Oh, because it's too good to be true
It's sort of funny and fippant and in
spired. ! can't tell you exactly why
but 1t isn't the kind of thing that really
frightens the street. 1t sounds like
lot of other things I've read. It'll
make Kennard mad and 1t may shut
him up, but | don't believe it'll make
any rush to sell. Well have to have q
real strike for that"
III you are not the most" began
Mr.. Trundell. Upon my word never
know what you're going to think. II
1t wasn't that you hit more often than
you miss, I'D say you talked just to be
contrary. However, we want to be un.
der the tree when anything's shaken
out. So you'd better 60 to the board
yourself this morning, you croaker!"
But Cornelius Croydon was right
once more The Confederated stock
opened with ten-point drop. but II
rallied Immediately. and went no low