Clipping:Allegheny Club finances; a scheme to seize control of the club
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| Date | Wednesday, October 17, 1883 |
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| Text | The committee of the Allegheny Base Ball club to examine the treasurer's books make the following statement: The committee found that the salary list for the past season amounted to $16,330.82. The total expenses of the club, including travelling, ground rent, etc., amounted to just a trifle over $30,000, while the receipts had been in the neighborhood of $2,000 less than that. The committee and board of directors further state that in order to pay off some outstanding bills, hire players for next season and fix up Union park they would require about $5,000. In order to get this money the stockholders will have to levy an extra assessment upon themselves or else dispose of their stock to one or the other of the syndicates which are so anxious to get hold of it. (St. Louis) Missouri Republican October 17, 1883 The meeting of stockholders of the Allegheny Club, which had been called at the request of the Auditing Committee appointed at the last meeting, was opened by a statement that the committee was not able to report. They said that roughly estimating there was a deficiency of $2,000, and that $1,000 would have to be raised to-morrow to pay salaries due players. A proposition was made by President McKnight that he would raise $1,000 on a note, and collect the money by subscription from the stockholders. Fifty stockholders agreed to stand an assessment of 50 per cent. on their stock, which will raise $600. This will leave really about $5,000 to be raised to pay advance money and put Union Park Grounds in condition. The McKnight faction, which embraces himself and five of the directors, are working a fine scheme to gobble the charter of the club, was what a leading stockholder said about the meeting. They are laboring to freeze out the lamb-like stockholders. This will be done by mcKnight giving his note and making no effort to raise money to liquidate it; in fact, many stockholders who are disgusted with the present management and their failure will not give up any more money. The note will fall due. The charter will lapse in thirty days and go into McKnight's hands, who will make an effort next season to run the club on his own hook. Cincinnati Enquirer October 17, 1883 At the annual meeting of the stockholders of the Allegheny Base-Ball Club to-night [10/16] the fact was developed that the concern was $2,000 in debt, of which $1,000 is owing to the players. Unless it is paid to-morrow the default releases the players from their oblgiations, and renders the club liable to expulsion from the American Association. The total expenses of the club for the season were $31,000, and the receipts $29,000. About $16,000 were paid for salaires. Two wealthy syndicates had representatives at the meeting, who made certain propositions to take the club. They were rejected, and fifty of the two hundred shares of stock agreed to stand a 50 per cent. assessment, which will yield $625, and the balance of the debt will be raised early to-morrow morning, so that the players may be retained. Cincinnati Enquirer October 17, 1883 The report of the auditing committee of the Allegheny Base Ball club, which was made public to-day, shows a worse state of affairs than was given out at the last meeting. Instead of owing $1,000 to the players the indebtedness on this account is a little over $2,000. Other liabilities will swell the total indebtedness to nearly $3,000. On account of the opposition to the management it has been impossible to get the stockholders together this week, as was expected, but President McKnight is pouring out large quantities of conciliatory oil, and hopes to have a meeting in a few days. Several of the stockholders insist they will not pay another dollar into the treasury, and it is now generally believed the club will go to pieces. Once of the directors, George McLean, resigned to-day. The team selected for next year, if the organization survives, is to cost $16,300. Nine hundred dollars has already been advanced to Knowles, Miller, Alberts, Beck, Fox and Baker, who have been signed for next year. (St. Louis) Missouri Republican October 27, 1883 |
| Source | Missouri Republican |
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| Submitted by | Richard Hershberger |
| Origin | Initial Hershberger Clippings |
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