New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1907-05-08
HOW TRUST GOT HOLD
Vice-PreSident of Schscmzschld s
.SuI2berger Sold Stock.

The discovery that 20 per cent of the minority
stock of the firm of Schwarzschild & Suzberger
has been controlled since last February by the
Beef Trust, which has just come to light, was the
chief topic discussed yesterday among the indie
pendent meat companies in this city Schwarz-
schild Suzberger. ranking third among the
packing plants, is capitalized s. 100000 than
half of which is owned by f. Sulzberger person
ally.
According 10 J. y. Sulzberger son of the founder
of the house the success of the Beef Trust in OBJ
taning control of than two million dollars of
the capital stock of his concern was due chiefly
TO Frederick Josephs. officer of the company,
who sold out his holdings TO Swift & Co. a trust
concern, three years ago.
MIR. Josephs, who had been with SchwarZschnd &
Suzberger for twenty-five years and who was vice
president, resigned last March and was elected
president of the New York Butchers Dressed Meat
Company on May l. Mr.. Josephs is in Chi
cago Arthur Bloch. vice president of the Butchers
Dressed Meat Company. regarding the statements
of j. y. Sulzberger in the papers, said yesterday;
Frederick Joseph has become interested In and
Dressed Meat Company-the only formidable lnGe-
pSers Of the Kew York Butchers Dressed Meat
Company surprised to learn from MT. oulzoe
ger himself from his statement In the papers OF
yesterday that the so-called trust mas SO la
II grip ON hts plant aithIush - " corporstios OF
Schwarzschid & Sulzberger was one OF the iiieih
Mr. Joseph sold the very small interest tha5 ne
held OF the minority stock in schWarzschliut ,e OK
OF fact does not know who hoIds the $40 savered
however sold his minority holding ana i%n toned
forces with the independents. one OF the M M
bers connected with the firm of SchwarzscHtllu ,S
sulzberger was arrested last summer ana sates
guilty the Indictment OF the ! niteu states
against the concern and was fined s-5'Vo
After Mr. Josephs's marriage Mr.. Schwarz-
schid.s daughter" said J. y Sulzberger yesterday
nt hts office IN 18Th street and First avenue ne
obtained seven thousand shares Of stock In the
coupanv At that time they worth more
than 500 a share For what reason Is not known
bur the fact remains that three years ago he SOLD
his holdings to Swift & Co In spite OF this ne
retained his position vice president FROM other
minority stockholders other members OF the trust
obtained additional shares. until their holdings on
January / this year totaIed twenty 'oAS"''
shares OF our stock.
1T was this increase in their holdings which d.
rected our attention to the trusts activity ana
led us 10 make "A careful investigation OF the
sources from which It had been able to BUY TINS
stock When found that Mr. Josephs hau P''r'-
ed with his interest We asked him Tor an eAPlaiia
lion In March we called meeting OF the stock
,,I,,rs n which Mr. Josephs's resignation was re-
csivad and accepted. With reference 10 the state
,a,,s concerning the old and often repeated ruior
that our company has been absorbed by compeu-
,ors 7 wish 10 deny emphatcally that report /
do not want the public 10 be laboTng under ms
,nprebension The public is aware that some safes
OF stock held by our minority stocKho'ue'S nav
been sold These sales undoubtedly gave rise 10
these false rumors." lie continued:
,,attsr of fact some Of our larger minority
holders had disposed OF their interests lhese
nurchdses were To the plans OF certain Gonpetlloos
,,1r c%ncern In spite OF denias made by the BUY
ers such interest we know tnat suTn Iay snv
been made. Regard as to whethtr W. f ' ~
definite information concerning the iaCt OF De w w
Western packing interest OF having To9'Ua t 81 wish
New York Dressed Beer @S'''' Wv 49,
Ia ANYTHING.