Omaha daily bee., 1919-03-05
STOCKHOLDERS !
OF BERG POTASH
CO. INQUISITIVE
Two Hundred Hold Meeting to
Ascertain Why Rating Is
Not Better in Bust
ness World.

The stockholders of the William
Berg Potash company, with its exec
utives Offices in Omaha and its plant
at Merriman, Cherry county, Me-
braska, are conducting investigation
to determine what disposition has
been made of the company's funds.
Two hundred of the stockholders
met here yesterday and will contin-
lie in session today
The William Berg Potash conf
pany has a capital stock of 81 ,000,0JO
and according to Matt Miller, David
City, Neb, most of the stockholders
have paid in full
Regardless of this fact, Mr.. Mil
Ter contends that large number of
bills are unpaid, that the credit OF
the company is impaired, and that
the plant is not producing to any eX-
tent and that the machinery for ex-
tensions cannot be bought unless ac-
companied by cash.
Speakers Grow Personal.
The 200 stockholders represent
5,452 holders. The meeting was held
in the ball room of the Hotel CastN
and for a time was open to the pub
lie. Then speakers commenced max
ing charges and counter-charges
any by unanimous vote it was decid-
ed that all persons other than
stockholders and those holding
proxies be elected.
Chemist Winthrop went into an
exhaustive report relative to the
potash bearing salts of the lakes
around Merriman and Eli in Cherry,
owned-and controlled by the COM
pany. He told them that the waters
of Hawthorn, Carson and Steer
lakes carry Is to S. per cent of pot
ash salts, that the stratum is Is
feet thick and that with the pump
ing facilities, with the proper ma
chinery for separating the potash
and by-products the plant should be
making $4,735.60 a day for the
stockholders. #-...
Attorney Matt Miller of David
City, however, stirred Of things by
remarking that, like the other men
and women here, | am stakeholder
and am entitled to know the facts.
The report of the chemist is fine,
but it does not bring the results.
We want to know why, after we
have been paying in our money, all
debts have not been paid, and why
we are unable to buy machinery to
carry on the work at the Merriman
plant. 4
1--WE are more deeply interested
in results than a discussion Of pot
ash and by-produets."
Accountant Reports.
The chairman of the meeting
said some time ago he ordered an
investigation of the affairs of the
company. The books, he said, haG
been taken and turned over to an
expert accountant. This man, he
said, was ready to make his report.
1t was at this point that someone
suggested there might be present
persons other than stockholders of
the company, and they were re-
quested to leave the room.
The report of the accountant was
submitted last night, but will not be
acted upon until at a meeting that
will be held today.
In connection with the financial
affairs Of the Berg company NONE
of the stockholders openly charge
a misappropriation of funds, yet
they contend that, in their opinion,
they were not expended to further
the best interests of the company. 1t
was stated last night that today the
company's financial statement
would be made public, the same
showing where the mo.:e' paid into
the treasury went and for what pur-
poses it was spent.