New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-02-22
COMMITTEE WINS FIGHT
Ne5c Directors Chosen for Boa Board
and Paper Company.

The old MANAGEMENT Of the United Box Board
and PAPER Company was defeated At the annual
meeting in Jersey City yesterday The stockholc-
ers' protective committee voted 10000 of a
possible 24ou"o shares The old management re-
fused to vote any part OF its stock.
Under d compromise the Barber interests We're
allowed two representatives in the board. stephen
D. Fleming and l. " Wiley were reelected in
that capacity. The other directors elected were
ell new men. named by the Chicago stockholders
who constitute the protective committee. They are
Charles &. Adsit. Charles A. Brown. Hyatt Cox
Luther W Bodman. George J. Marott. Herman
Groesmau. Sidney Mitchell. Lazard Kahn. Douglas
Miller and Joseph r. OTIS In consideration Of the
Barber representation on this board the Barber
interests agreed that I'VE Of their men recently
elected to the directorate Of the American Straw
Board Company should resign and be succeeded by
men now in control OF the United BOX Board Com
pany.
o. c. Barber. former president. sent a communl-
cation offering 70 buy the entire amount of the
American Straw Board stock held by the United
Box Board and Paper Company at $40 share. or
sell about 1oct) shares Of the same 10 the
interests the price Mr.. BARRIERS stock Will
probably be- bought. a stipulation accompanying
the offer, which was that the stockholders should
Tatify all actions OF the board in the last year,
raised considerable opposition. It finally de-
cided that the new board should take fifteen days
10 investigate the transactions of the company in
the last year, and that they Should be ratified IL
found TO have been in every way legal
Mr. Barber also offered 70 extend the loan which
he personally made TO the United Box Board and
Paper COMPANY for period Of six or moro
months, provided tlar the interests showed a
Willingness 10 meet him on reasonable terms.
All the bonds in the treasury Of the company are
now held rs Mr. Barber and his associates under
pledge or collateral for loans The release OF these
on partial payment was promised by Mr Barber IN
oT0er 10 allow the new management 10 sell some Of
The bonds 10 obtain immediate capital
In this way the Barber interests had whip
hand 50 Tar as the financial future Of the company
was at stake.
Sidney Mitchell Of Chicago chairman Of the
protective committee, viii probably be elected
pany-
The report Of the company for the year ended
december J. 1905 presented Yesterdays meeting
showed Gross nrofits-Uuted Box Board and Pa
per COMPANY, S4A6.v56. American Straw Board Com
any Sfiuy2; Jncas Paper Company S23. 500: total
sIto94'a against total gross profits last year OF
SSlzet ADMINISTRATION and other eXpeuseS-I-uited
55oA Board and Paper Company. S4o1,7o9: American
STRAW Board Company. S=S91S. Uucas Paper Com
pany. 3d. 500 total $40 42 against total admnistra-
ZION and other expenses last year of S2G72sS Net
profits nited Box Board and Paper Company
S.aS3i: American Straw Board Company. 1919 124
meas Paper Company. Sl09.4JA: total net profits
s2s -. compared with total net profits last year
OF S'45.93t DedUctiOnS-LesS interest Of minority
stockholders American Straw Board Company
$3.50; balance net profits Of united companies.
Nice-Presidcut 6. b. Fleming reported that the
company actually had no cash hand, the de-
posts IN the bank being less than 5000 On Jan
nary ! they amounted 10 $4,000 Recently Mr.
Fleming borrowed $4,000 his personal note for
the company IN order To tide il tight place.