Word: niedringhaus
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Dates: during 1920-1929
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Died. George W. Niedringhaus, 63, pioneer steelman, president of the National Enameling & Stamping Co. of Granite City, Ill., the town built around his steel industries; suddenly, of heart disease, in Granite City...
...National Enameling & Stamping Co. is experiencing a situation closely resembling a South American revolution. A committee of stockholders has developed, due to a dislike or distrust of the company's present management. This body wrote a letter to President Thomas K. Niedringhaus containing charges against the management and demanding representation on the Board of Directors. The stockholders committee was headed by James Brown of Brown Bros...
President Niedringhaus failed to answer the letter or promise reforms of alleged abuses. The committee then resolved to circularize the stockholders and solicit their proxies, with the purpose of voting a new board of directors into power at the company's annual meeting on Mar. 10. Whereupon President Niedringhaus, himself, sent a letter stockholders. In it he declared that the six men forming the committee, despite their assertion that they held 30,000 shares of stock among them, were none of them stockholders of record as of Jan. 30, 1925; that, if they hold stock, it has been acquired...
...rebuttal, Mr. Brown made a statement complaining of Mr. Niedringhaus' refusal to answer the committee's private letter, declaring his [Mr. Brown's] lack of willingness to injure the company's reputation, as alleged, and stating that the committee's only aim is the success of the company. It is thought in financial circles that a fight for the stock control of National Enameling...