Faith In Joseph B.

Peoría., Hls, Feb i - President Joseph B. Greenhut, of Che whisky trusi , Ben J. Greenhut his son. and John S. öcévens, the attorney for ilm company, left tur Chicago on the luto train I as E night f ter having spent Sunday at home President Greenhut was seen last evenlng and asked íür a statement of liis version of the receivership trouble. He said tliat the best statement he eotild niake was the worn aftidavit of the board oí directora, adopted at the recent meetintr ;n L hiciigo This statement, ho said. clearod away the chargesol' ïnlsmanagemeot with which he has been confronted oa every side pince thé'appücation for a receiver was made. Up to this time ho had not seen fit to niake a statement, and as to the future he could say nothmg He was asked what steps he would tttke iC ousted. but declined to state. Stockholdeis Controlletl the Business. The sworn statement of the board of directors is addressed to Judgc Grosscup" and is signed by all members of the board with the excoption of President Greenhut himself. It states at the outset that Hobart, Greene, Hennessy and Greenhut have been direotors sinco the organization of the company in 1S9Ü, and Beggs and Freiburg since 1SÍ13. The directors had chosen Greenhut president, at each succeeding meeting and he had been unanimously chosen president at each succeeding stockholders' meeting All the business management has been in accordance with the directions of the board, and it has at all times flxed prioes and given directions to the president as to the management of the business. "We fnrther state," the document proceeds, "that all charges of wilful mismanagement or of wa-sting the assets are utterly groundless, false and untrue. All our acts have been accor .ling to our best judgment in the lntereat oí the t-ompany and its stockholders and if thcre has been any error It was an error of judgment on purt of the board of directors." Deleiidé of trKë Hnd Issue. The bond ssin: is g ne into ;it length and the neoeasity for the issunnce of the same. The board of d i rectors found itself confronted by what it considered a temporary Stringency and regarded the .-ialii o! bonds as tiie best w;vy out of the troubla The animal meeting of April, lsiö. when BI perceut. ot stock vv:i represeüted, ratifl d the bond issue and indor?e.l all ili.it had been done by the president aiul directora. One million dollars of bo ids were sold. The best, price that could bö obtainod was 51 cents on the dollar, or $500,000, every dollar of which went into the treasury. " Nöcommisaion was allo wed or paid and the monay thus securud enabled us to tkle over the existiuji diiliculty.