Los Angeles herald., 1906-09-30
ORDEAL PROVES
REAL BLESSING
GENERAL SEcURETlEc CoMPA-
NY ENERGIES UNSCATHED
Messrs, HoIIey and Meyer Return to
Answer DIseruntled StockhoId-
ers and Predict Happy
Finale

The affairs of the General Securities
company and its officers. William ".
Holley and J. r. Meyer, brought into
public discussion recently through the
suit filed against them by what they
characterize as few disgruntled
stockholders, appear to be successfully
emerging from the shadow Of scandal
that has been cast upon them by SEN
sational accounts.
1t was alleged in this suit that there
had been some msappropriation Of
funds and complaint made regarding
a few other imaginary grievances, but
the trouble seems to be coming to a
happy finale for the Officers Of the
company and they stated yesterday
that they felt no fears for the out
come Of the suit, as not the slightest
discrepancy in the records of their re-
ceipts and disbursements can be
shown to exist.
Experts Commend Officers
Expert accountants and stockholders
in the company have been employed
to go through the books of the COM
pany and their report not only falls
to mention the discovery of the least
improper disposition of funds but high
ly commends the officers for the busi-
ness acumen they have demonstrated
in the administration of the company s
affairs. y
Following is a letter which the Off
GERS Of the company have received
{ from an auditing committee formed of
stockholders of the company:
"To the stockholders of the Standard
Mines company:
HAa two T11aTubprg 0f the commit fee
of three appointed at the request of
the officers of the company at meet
ings of the stockholders on August
1 and 2, 1906, to investigate the books
and affairs of said company we wish
to say that we found all expenditures
accounted for, all stock issued and
transferred in a regular manner and
the accounts of the company kept in a
regular manner.
"Some suggestions were made by our
committee which have since been car
ried out and we commend the man :
agement for its energy and per-
severance in bringing the property to
a producing basis.
"We make this statement for t. e
reason that suit has been brought t
against the Officers OF STANDARD Mines
company charging them with irregu-
larities, miSappropriations of funds and
other allegations which have absolute
ly no foundation in fact.
1--WE believe that the affairs of the
company have been honestly and care
fully managed by the president, j. e.
Meyer and Secretary William v. Hol-
ley to the best Of their knowledge and
ability, which is evidenced by the fact
that Standard Mines is now on pro-
ducing basis of some $4,000 monthly
and mined at profit.
I'VE believe that we have valuable
mine which >wll yield the stockhold-
ers handsome profit in the future and
that the suit brought by a few stock
holders is inopportune and hurtful to
the interests of all.
The entire committee commended
the management in it's former report
and we again take pleasure in doing so.
I'VE trust that the stockholders will
hold onto their stock and support
rather than discourage the officers of
their company in their attempt to
make the STANDARD still greater prop
erty, and we firmly believe if such
support is accorded them they will
do so. A. j. PLOWMAN.
Chairman of Committee.
III. SARRASIN."