New-York tribune., 1920-12-21

director of the Colorado Mines Explor-
ing Company. His home is at Sea Clis
L. /. lie was director of the Amer
lcan Smelling and Refining COMPANY
nth April Z, 1920, the date Of the an
nual meeting, just prior to which he
received letter from Simon Gurpan-
elm, the president, suggesting that he
resign because of the differences of
pinlon that had existed with regard
% the policies of the company. To this
r Filler replied that he would not re-
ign, at the same time voicing his rea-
on for differing with Mr. Guggenheim
skiing him to resign as president and
make good for losses incurred bv
ne company and the stockholders.
Denied Access to Stock Books
David A. Crockett, transfer agent Of
re company, is a codefendant in the
Hers proceeding because he is said
o have refused to permit Mr.. Eilers
see the stock book. which refusal
Is alleged, was a violation Of Section
3. Chapter 81. of the stock corporation
aw. MIR. Ei,ers said the company had
bout 10000 stockholders and his pur-
oose in asking to see the stock book
nd make extracts. he said, SIS to en-
ole me to communicate with other
'tockholders of said corporation in
rider to consult with them relative to
tfecting change n the management
I the affairs If the corporation by the
election at said annual meeting Of a
new board Of directors for said cor
'oration.' Mr.. Eilers added that the
only way to get the names Of stock
no 'ders and secure proxies or direct
votes for the next annual election was
by getting access to the etock book.
II am moved to do this" continued
Mr.. Eilers, because of a belief that
I change of management is vitality
necessary for the well-being of sa d
corporation. desire the interests of
said corporation prom oted, that and
hose whom | repre- ent may, as stock
holders, be thereby benefited. Also be-
cause Of the association of my father
with said company since its inception
70 the time of his death, and my own
association with said company, as ON
Dloyee, director and officer for over
thirty one yeas, feel a keen persc nal
interest in said company and its we'll
Being and development.
Selfish Management Charged
From 1907 to 1920 I was director
OF the company. From 1916 to 1920
was Flcc-pEeS lOcNt OF SalO company
As a director and particular as an
officer Of said company. l had oppor-
tunity to observe the methods of its
and was finally con-
WINGED that said company has been for
several years and is now under the
control of persons who dominate its af-
fairs and under whose direction the
IS managed not for the benefit :
of its stockholders or for the well be-
ing Of said company, but for the pur-
poses of furthering the personal and
selfish ends OF said persons and in dis
regard Of the interests of the company.
! am convinced that such domination Of
he companys' affairs has resulted in
retarding its development. To my per-
sonal knowledge the company has been
thereby caused losses aggregating
millions Of dol 'ars. | am convinced
that continuance Of such domination
will further retard its development and
entail further large losses to the com
pany. ! am convinced that only b a
change i'll the board of directors Of
said company can such domination Of
its affairs be ended"
The correspondence between Mr.
f,ilers and Mr.. Guggenheim that caused
the open break and resulted in the re-
tjrement of Mr.. Eilers from the d.
rectorate opened with this letter bv
Mr.. Guggenheim, dated March 81. 1920: