Every evening, Wilmington daily commercial. (Wilmington, Del.) 1878-1928, 1922-07-08
FIGHT ENLWENS
CREDIT MEETING
Benz. Groves Had His Hands
Full at Organization
Session.

Stockholders Of tho National Guar
antv CREDIT Corporation held their re-
organization meeting IN Philadelphia
Yesterday and with the house divided
against itself. il turned out To be one
of thosc hectic affairs which came TO its
climax in a fast and furious fist fight,
the tossing Of few chairs and shrieks OF
women directing their favoritc in tho
hattie 10 Kill Him"
BENJAMIN \. Groves presided and was
elected member of the board Of di
rcctors. A number Of other Dclawsreans
we're present. 49,
The directors elected in addition TO
MIR Groves were Norman Conderman,
William L. Tinker, Joseph Bcchtel.
Albert J. Crawford and William 1.
Bryan. all of Philadelphia.
With two factions fighting for con-
troll. the stockholders IN the group
known as the Stockholders Protective
Committee won the war and electeda
new board Of directors.
The stockholders voted n resolution
urging the district attorneys office to
take prompt action So that Spiese, now
under indictment for obtaining money
under false pretense, would not escape
charges They also urged The district
attorney take immediate action against
FIVE Of Splese's associates.
There was no attempt 70 hide the
SUSPICION that was IN the air and after
electng their board the stockholders
Immediately took steps 10 render the
directors harmless by voting that the
board should take no action OF any kind
until IL was first approved by majority
of the stockholders in VT ting. he stock
holders also elected that they should
bc the ones 10 decide that the future OF
the organization should be; whether a
liquidation should take place or an At
tempt made 20 rcorgsnize and operate
The majority seemed 10 favor the lIqui-
aation process. which would give them
from 30 "a so per cent on their pre-
erred stock and nothing on their com
mon
The election Of the directors: 1t is said
will I've contested by an opposition
group.
A {. Barley. an automobile manu-.
facturcr of kalamazoo. Mich. is father
OF an offer To take over the affair,
of the company, pay So q shae foI
common stock 10 any who wishes To sell
and guarantee a per cent dividend
for two wears on preferred stock. The
common cost in the neighborhood of S5C
share There are cash assets of more
than 500 900 and another 5000, 00O
in sight
Barley has been busy gathering prov.
lee for some time. and WAS represented
Yesterday hv John I. Nolan. of kalama-
ZOO. HIS opponent was 7. ! Farrell o!
\rrherth former manager for Worth 4
Co. and now aligned with the prutec-
tive committee Nolan was explaining
the things has Kalamazoo associate
VOID ID for the stockholders Farrell
injrud upon the remarks with al
outsir .en assertion that Nolan and
your bunch of outsiders had no busl
ness coming IN and debating how IN
meeting should be conducted
Then somebody called somebody els
h,g hunk OF whale bluhber or some
thing Ike that, and fight followed.
The room IN the meantime went int.
an uproar pandemonium broke loos
battlers bleeding. the women on III,
front benches began 10 shout that tn
hearts of the gladiators might he serve,
UP on q platter
XIII him, XII him, shrieked one o
the fair rlngsiders to Farrell, her favor
tie Somebody two rows back resche,
in the aisle and picked up foldin
chair He heaved II into the srena
the hattlers rolling in each others gri
on the floor
Somebody phoned for the police an
few of the safe and sane Of the meet
ing managed "a break up the fight