Clipping:Detroit Club affairs wrapped up; finances; Rowe-White
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| Date | Wednesday, May 29, 1889 |
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| Text | [from an interview of Fred Stearns] “I have just made my final report to a meeting of the directors of the old Detroit Base Ball Club; it was very favorably received, and the affairs of the old club, with the exception of the Rowe-White matter, are wound up.” “And what is the amount of the assessment the stockholders are called on to pay?” “Assessment! Ha! Not much. We declared a dividend of $54,000, and there is still more money in bank to be divided.” “What! A dividend of $54,000?” “Exactly. It is payable June 1, and the holders of the shares, the par value of each being $50, will receive $135 each. Of course, four-fifth of the shares are held by the directors,” and Mr. Stearns smiled softly. The largest portion of the sum to be divided was derived from the sale of star players. There is $7000 still due for Row and White, if these players will consent to go to Pittsburg. They want $4000 of the $7000 which Pittsburg agrees to pay Detroit for their release. The Detroit people are willing to give the players $2000 of the release money, and as Pittsburg agreed to pay each a salary of $35000 for the season it is seen that these players are throwing $9000 in cold cash for their pig-headedness. |
| Source | Sporting Life |
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| Submitted by | Richard Hershberger |
| Origin | Initial Hershberger Clippings |
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