New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1910-08-07

ii
building stone We don't claim TO make
any such thing, and Qualey never told
Mrs. Bull that She got it wrong, that's
eli. We make magnesia, just as any
other big chemical plant would, and
nasnesia asbestos pipe covering, and
one Of our by-products is building plas-
rer-
Says Product Was Used.
"Quaiey was right liz telling Mrs. Bull
that our product was used in the School
of Applied Design. 1 built that build
ing and was the architect, Our plaster
uas used throughout that building I
don't know about the Fifth Avenue
Building, but We sold large amount Of
our plaster TO McNulty Brothers, the
contractors, and If they had anything to
DO with that building our product was
probably used in it,
I'VE have turned out and sold great
amount of our plaster, but not for the
last three months. We have been closed
down for the last three months because
We have been getting the other part of
the plant in working order. the part that
We consider the most important. Build
ing material will only be a by product
with us. and We want TO get our mag
nesia plant in operation. In the last
three months we have installed ten steel
bottles, four feet in diameter by twenty
four feet high, for making magnesia-
Tcu can see from that that We are put
ting our money into the plant
How much have you put into the
plant 80 he was asked
Now you are getting back to first
principles he said. Where shall I
start?
suppose YOU start with your ac-
quaintance with Mrs. Hopkins?"
We'll. let me see. / have knos. 4 Mrs.
Hopkins since about 1907. / became a
teacher in her School Of Applied De
sign ar that time, and I was teacher
there up To about a year ago. / have
known her very intimately. She is
about f1fty-five or sixty years old and
woman with a wonderful mind"
Mrs. Hopkins Not Promoter.
Did she ever try to get you to invest
IN any other company. or did you know
her as d promoter in any way?" was
asked
she School OF Applied Design and raised
the money Tor that. but / never knew
Of her trying TO sell stock In any com
pany. About Two years ago she came
10 me and asked me to investigate the
Stone Age Plaster Company for her, as
she thought of investing in it.
Il put in three months investigating
that company and Quaiey. From my
engineering and chemical knowledge
= and because OF my knowledge and eX-
pertence as an architect, I was satisfied
of the commercial value Of the PROPOSE
lion 7 investigated Qualey and found
several men who recommended him to
me and vouched for him. Three OF them
were Newark men. one Thomas E. Cry
ct. vino is now installing heating plant
sor Us
ct advised Mrs Hopkins TO invest in
the company, and when she introduced
ne TO oualey and he asked me TO 80
into the company went in myself"
did you put any money in the com
pany?" was asked.
Holds No Preferred Stock
Il couldn't put very much money in
he said, because ] did not have very
much But / put in my time and my
work, and I draw no salary for my
work ] don't hold any of the preferred
stock III the company, which is livestock
we offer for sale. ] have about $4,000
par value of the common stock, which
We give. as bonus with the preferred
stock
How much money has the company
taken in for stock since you have been
connected with it,"
The Observation-Disclosures Company has
taken in about s175,O00." Mr.. Corbett
replied. and all Of that money has been
spent on the Newark plant. But the
Masnesia- Asbestos Company has been
organized for only about year. The
stone Age Plaster Company was the first
company that I became connected with.
The Magnesia company is the holding
company OF the Stone Age Plaster Com
pany, which holds the title TO the prop
.srfv. But the Magnesia company holds
ever share Of the stock of the Stone
Age company.
That being the case. how much
money has the Stone Age company
tsiSeH in?'
-.The stone Age company took in about
100000 think.
@And where did that money go.' was
psi1td.
Part OF IL" Mr.. Corbett replied, went
into the Newark plant and part into the
Massachusetts plant The Magnesia
company is also the holding company
for the Massachusetts company. When
Mrs Bulls son. James y. Blaine. Sd,
went to see the Massachusetts plant he
didn't 20 10 the right place at all He
went to look at 4 vacant lot"
VIII Be Other Plants
How about The stories told TO Mrs.
Emil of plants IA Norfolk. New Orleans.
chicago, Kansas City and on the Pacific
Coast?'
."They were all right" Mr. Corbett
said. because IN the natural growth of
our business VIC would build plants at
All great centres
How much viii each Of these plants
cest?"
4 would not undertake" Mr.. Corbett
aid. ito build another one like the
Newark plant for less than 100000.
And now, Mr.. Corbett, something
about aIr. Qualey?
sf ,.apst teat Won much about him. he