Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-07-10
COURT ORDERS
\ DIRECTORS TO
! GIVE DIVIDEND
Secretary and vice-President
Win Point in Art Metal
Works Suit.

Vice Chancellor Emery today de-
cided that the directors of the stand
ard Art Metal Works, of 64 Union
street, Newark. must meet and de-
clare a dividend on the stock of the
company, not exceeding six per cent.
The order was made in the proceed
ings instituted by George A. Retten-
maier secretary of the company, and
Theodore e. Grimm, the vice presi-
dent, against John H. Glenn, the
president and treasurer. The two
compliments asked that the vice.
chancellor issue an injunction order
that would enable them to examine
the books of the company, an &C.
counting by Glenn and restoration by
him of salary increase which he
voted to himself year and half
ago.
The vice-chancellor denied the in
junction, but agreed to a modifica-
tion of Gleim's salary.
The Standard Art Metal Works was
organized by the three men some ten
years ago. Glenn contributed fifty
per cent of the capital and obtained
one-half of the capital stock Of the
concern. Rettenmaier and Grimm
each took twenty-five per cent. of the
stock. Glenn then transferred one
share to his sister. Mrs. Augusta
Cutting, to qualify her as a direc-
tor of the company. Besides his po-
sition as president and treasur ar,
Glenn assumed charge of the office
and was the salesman of the com
pany. The other two men took charge
of the factory.
In 1910 a stock dividend doubled the
shares Of the company. making out
standing 276 shares of the par value
of s100 each. The three men still
owned the stock in the original pro-
portion.
The compliments charge that at
this time Glenn assumed a domineer-
ing attitude and made it most I'M
pleasant for them. In 1912, they say,
he so neglected the business that It
fell off during the year. 1t recovered
in 1913. however and there is now a
very substantial surplus in the treas
ury.
Taking advantage of the increased
business. the compliments declared
that Glenn voted himself an increase
of salary. He had been receiving $50
a week, but assuming entire control
of the plant, he voted himself an ad-
ditional $50, making s1G0 a week in
ALL. They sought to have Glenn or
dered to turn back to the conpany's
treasury all OF this increase from
January 1. 1918. to July 1. 1914.
Frank o. Bradner. who appeared
for Glenn. showed. the vice-chancei-
Tor that the two compliments we're
now with the ]. K. Osborne Com
pany, of Harrison. and had been
there since the beginning of 1913.
Glenn had taken entire control of
the work of the Standard works be-
cause he had to. The Osborne Com
pany is a rival concern, and Glenn
did not allow his associates to ex-
anime his books for that reason
The vice chancellor decided that
when Glenn assumed entire control
of the factory he was entitled to an
increase, but fixed that at $50 week
instead Of $50 and directed that he
return the surplus moneys. The par
ties. to the suit agreed to the divi-
dend The vice-chancellor decided not
to go further In the matter or make
any order for the future He said
that he was not inclined to take over
the management of the business
The complainants were represented
by Max milan NJ. Stallman-