New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-05-02
FAIL TO GUST DIRECTORS
Minority Stockholders Sought
Vulcan DEFINING Co. Control.
CALL BOARD INCOMPETENT
Do Nothing but Draw Fees and
Conceal Financial Condition,
1t Was Charged.

A split I'm the ranks of the stockholders
of the Vulcan DEFINING Company n
New Jersey corporation capitalized AT
S5op,o00 led To merry row at their an
nual meeting yesterday afternoon at No.
10 Exchange Place. Jersey city. Headed
by John Muir, broker. Of No. "A Broad
way. Manhattan. faction. which three
weeks ago made known ts aversion 10 the
methods of the present board Of directors.
attended the meeting i'm body and
shared actively in long and spirited de-
bate.
With one exception the directors were
proposed for reelection on the regular
ticket Raymond w Tucker was named
to succeed Samuel Bloomngdale Harry
kraus, John II. Prali. Benjamin Nicoll.
George T. Eldrdge and William !. Butt
field complete the personnel of the pres
ent directorate
The Muir faction named Gardner ).
Dresser. John Eldert. Richard Linder.
George \. Muir Lester J. Saul and Rob
ert Worsing 10 manage the affairs of the
concern. All were competent executive
business men. they said, while the pres
ent incumbents did nothing more than
draw an average of 500 a week each I'm
fees and withhold information regarding
the financial status of the company.
1t Was half-past twelve this morning
before the tellers were able To announce
that the "Company's ticket that headed
by Eugene T. Spiegelberg for the board
Of directors, had won. Although all the
ballots had not been counted up to that
hour il was said that enough had been
gone over to make certain that the Com
pany's ticket had beaten the opposition.
The fight against the management Of
the Vulcan DEFINING Company. which Is
one OF the largest concerns Of it's kind
In the country. was begun about three
weeks ago. when John Muir e. Co, on
behalf OF the minority stockholders, Is
sued an open letter charging the direct
ory with mismanagement and incompe-
tency.
~ Yesterdays meeting il was declared
.. that the directors seeking reelection
owned less than per cent Of the com
pany'e stock. and that certain members
were drawing additional fees for service
an snecial committees. William J. Butt
fold championed the cause of the board
and answered the accusations of the MI
nority. Charles =. Hull, who until a
few weeks ago was general manager
and vice-president Of the company ns-
ured prominently in the attack.
When the voting began both sides were
armed with proxies. In the evening two
committees. one from each faction. checked
off the ballots. The spirit Of the after-
noon session pervaded the task. and chal-
lenged votes and protests against the
eligibility Of proxy holders made the WORK
/ spirited At midnight there still remained
several thousand uncounted votes.
Among the charges brought against the
directors by Muir was one which stated
that one of the former officers has
contract bv which he will receive 10 per
cent OF the net profits OF the companys
claim against the American Can COM
panv for alleged infringement Of patents
Eugene r.. spiegelberg. president OF the
Vulcan DEFINING Company, said the case
had been won. but the amount his con-
Germ was 20 receive mad not been decided