The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1936-01-07
StOneham
KeptCzub
For Son
By FRANK BUCK" ONEnL

ures, Charles A. Stoneham,
whose whole career was storm.
tossed and marked by legal in.
Movements. A long and bitter
fight for control Of the Giants
is likely to ensue.
Stoneham refused many rich
offers for his controlling interest
in the Giants. declaring that he
wanted the club to pass into the
hands of Horace Stoneham, his
son.
Former Magistrate Francis x.
McQuade, a minority Stockholder
in the Giants looms now as q
successor to Stoneham. Under
the tri-party agreement between
the late John j. McGraw, Stone
ham and McQuade, who pur.
chased the Giants from Harry
N. Hampstead, heir to John T,
Brush, the surviving member of
the triumVerate was granted the
right to purchase the holdings
of the deceased at book value.
Lower Than Market
The book value of the Giants.
naturally Is considerably lower
than the market value of the
stock. McQuade. II successful
in the legal fight he is certain
to launch to gain control of the
club, in compliance with the
agreement made at the time Of
the purchase, is seen as sitting
on top of the world.
Those familiar with the situa-
ton as it exists, say that Nc
Quade will have no difficulty in
negotiating for the funds neceS-
Sary to complete the purchase of
the stock to give him control. He
will then be able to either sell his
holdings at a rich profit, or to
carry on the management of the
club. In either event, if his sup
port is gained in the right quar-
tiers, McQuade will be in q most
enviable position.
A consummation of this nature
probably would make Stoneham
and John McGraw turn hand
springs in their tombs. A bitter
feud developed between the three,
and it was alleged that McQUade
was the instigator of more than
one hectic inner-office brawl.
Dismissed as Treasurer
McQuade finally was dismissed
as treasurer of the Giants and,
bringing legal action against his
partners, got a compromise. His
plea for reinstatement as an Of
ficer of the club was denied, but
he was awarded back salary, which
amounted to a considerable sum.
In this legal battle McGraw sup.
ported Stoneham against Nc
Quade.
Stoneham could have sold the
Giants half a dozen times in the
last dozen years. In 1927 the
late Tex Richard is reputed to
have offered two million dollars
for the Giants. Stoneham re-
fused to consider the offer. It
was said at the time, however,
that he acted under orders of the
board of directors of the National
League.
Within the last six months a
New York Syndicate offered Stone.
ham $1,750,000 for the Giants, but
the latter held out for $1,000, 900.
This proposition was under de.
bate when Stoneham went to Hot
Springs on December 16.
BY holding out for a price that
the prospective purchasers con.
sidered too high, Stoneham may
have played into the hands of the
men whom he sought to Illustrate.
In fact, baseball men today said
that he had done exactly that.
Stoneham's entire career was
eeped in controversy and
brushes with the law. On August
81, 1928, he was indicted by the
Federal Grand Jury, charged with
perjury growing out of the in
veStigation of the 100000 fail.
ure Of E. M. Fuller & Co., stock
brokers. He was cleared in court.
On February he was found not
guilty Of having used the mails
to defraud. The mail fraud in.
dictmentS were based upon the
charge that Stoneham had trans
ferred certain securities through
the mail from a concern in which
he was interested to the firm of
E. D. der & Co.
With McGraw and McQuade.
Stoneham assumed control of the
Giants in 1919, outbidding George
E. Loft, the candy manufacturer.
McQuade, incidentally induced
Stoneham to buy the Giants.
NEW YORK, Jan. z GN.sJ.
The death of Charles A. Stoneham
may eventually lead to the sale of
the New York Giants, it was said
here today.
No immediate change in the
operating policies of the club is
contemplated at the present time,
however.
The reorganization of the clubs
directorate, made necessary by
Stoneham's passing, probably will
install Stoneham's son. Horace,
as the new club president.
Treasurer Leo Bondy and Man.
ager Bill Terry are also expected
to be given more to say in the
conduct Of the teams affairs.
Wroe+I;,~~ Pneultc