The Providence news. (Providence [R.I.]) 1891-1906, 1906-04-24
Joe" Mann
WILL FIGHT
TO THE END


There arc things doing in the Joseph NJ.
Mann Piano company. and Mr. Mann as
serts that determined effort. so far I'M
successful, is being made by the biggest
stockholder TO force the corporation into
bankruptcy when the concern is actually
sound and there Is no cause for such ac-
ton.
Mr.. Mann. however. Is a good ighter.
and will not give up without stcugg.s, IN
which he will have general sympathy
throughout the community.
Mr.. Mann, with his attorneys. Gardner
e. Thornley,, were seen at the office OF
the latter this morning, and full state
ment OF the matter was made, showing
that trouble has been brewing for year
or more, and that an attempt has heen
made TO force Mr.. Mann out OF the piano
business because he would not stoop 20
things that he considered injurious 10 his
business. 10 the confidence the music
loving public had In him and 10 creditors
who were interested in the success OF the
firm.
ITO begin with" he said. Emil e. Cab
Ter is the chief stockholder in the Joseph
M Mann company. the other two men IN
terested being myself and w. r Arnold
OF this city. The stock was listed at 40,o0O
shares OF which 10000 shares were pre-
ferred and the other 10000 common stock.
Mr.. Gabler owned all the perferred stock,
and so controlled the interests OF the com
pany that l. the general manager and part
owner, had no say.
with Mr.. Gabler were associated as
co-creditors OF the company Mr. Joseph
Bayreuther and Henry Hummele. who
were employees OF the Gabler firm. l was
the president OF the company ana the
manager. but with no authority, and the
first move OF Mr.. Gabler was TO so burden
the company with loans as 10 completely
tie up the business.
Then began system Of creating fric
tion which ended a few weeks ago In
my offer TO buy out Mr.. Gabler's interests
at a much higher price than Mr. Gabler
named. This was refused and was being
held under consideration when. after the
regular annual statement, there was
call made that | and the other stock
holders appear in New York last Satur-
day for the purpose OF going over the
| statements. and TO discuss the change
| Of control
AT this time II was voted without
warming 10 adopt resolution declaring
the firm insovent and desirous OF in
stituting bankruptcy proceedings. This
under the law makes the firm bankrupt
and liable for proceedings.
i protested tnlS ana aSheu Tor
little time 20 consult lawyers. but was
refused. / also asked that some Of the
creditors. among whom was my father.
be consulted. which was also refused
The next move was for Mr. Gaber to
appear In this city and try TO induce
the creditors 10 sign petition of invol-
untary bankruptcy This up to last
evening they had failed in, though they
had tried by visiting some Of the cred
itors several times"
The firm was believed TO be solvent
and Mr.. Mann declares that such is the
case. stating that even now there is
| money in New York TO pay off the most
recent claims against the company. which
the New York interests refused To liqui-
| date.
1 The whole trouble according 20 Mr.
| Mann. dates from the time when the cor
poration was formed and Mr.. Gabler
wanted Mr.. Mann 10 introduce the Gabler
piano as the leading brand above the
Knabe and others. Mr. Mann was ad-
vertisng the Knabe instrument above
that OF the Gabler. and this was objected
| TO.
BY the articles OF agreement Mr. Manr
was so bound that he was forced 10 lose
the business OF two OF the leading
pianos OF the country for the sake o
Mr.. Gabler. and then came the present
condition OF affairs.
Mr.. Mann also hinted AZ some persona
affairs between the two men that he sait
| would give a sensational shock TO som,
| OF those interested should the matter
be taken TO court.
As TO how Mr. Mann became entangled
he said that when tho corporation wai
first formed IL was supposed to be ar
agreement between friends. and accord
ing TO agreement Mr.. Gaber was to owr
81 per cent and Messrs. Mann and ArnolC
| 40 per cent: but at the meetings th'
minority were helpless
| The whole trouble. Mr.. Mann said
| started when Mr.. Gabler wanted certain
| preferences over tho other creditors
which Mr. Mann refused as unjust. TIL,
process OF harassing him he SAYS ther
began. and has continued up to thii
time.
Mr.. Mann has been one OF the bes
known musical men OF this city for q
years Through him music-loving peopl,
OF the city have had the pleasure %
listening TO many leading stars OF The
| past decade, including Mascagni. Ysay,
and n host OF others
| The petition has not been filed yet, bu
| may be soon II the necessary number
! OF creditors can be secured II Is only
| necessary that creditors holding $500 n
claims against the Arm sign the petition
and Mr.. Gabler can by law furnish $40!
OF that amount the other two creditor:
! furnishing 80 cents each
|