Pfeiffer & Schwartzel Family History

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Split Up of the Company

In 1943, Joseph Schwartzel sold his interest in the company to the Marguet and Cullen families ending his involvement.  The split-up of the ownership between the Schwartzel, Marguet and Cullen families began in 1932 with the death of Charles Schwartzel, the father of Joseph Schwartzel.

The three families were related.  Charles Schwartzel married Margaret Gerard.  Margaretís sister married a Cullen, probably John T. Cullen and had three or four children.  Charles and Margaretís daughter, Anna B. Schwartzel married Isadore Marguet, thus the family connections.

In 1902, Charles Schwartzel forced William Morris to sell his shares of the company.  John Cullen joined Charles Schwartzel becoming Vice President and was listed as an owner but the split up of the stock was unknown. Charles had at least half or 250 share and John Cullen owned some part of the remaining 250 shares.  When the company was reorganized in 1943, the Cullen family owned 158 shares.

At a stockholders meeting in 1908, several of the Cullen family members were listed as present as well as several others, indicating that they may have been owners.  Ed Hannon was listed as one of the new owners.  When the company was reorganized in 1943, he owned 28 shares.

By 1912, John Cullen was no longer a director and was not listed as present at a stockholders meeting.  The does not necessarily mean he had sold his interest in the company.  At the 1912 stockholders meeting those listed were Charles and Joseph Schwartzel, and Ed Hannon.

At the 1919 stockholders meeting those listed were Charles and Joseph Schwartzel, Ed Hannon and George Walters.  In 1920, George Walters sold his stock and resigned.

In 1920, John Cullen again was listed as a director of the company.  He either again became active in the company or reinvested in the company.  From then until 1932, the ownership appeared to stay constant.  Then the changes began with the death of Charles Schwartzel. 

May 12, 1932, Charles Schwartzel died leaving his stock to his wife Margaret.  Margaret died two years later leaving half of her stock to Joseph Schwartzel and half to the children of Anna B. Schwartzel Marguet.    

One question in the makeup of the ownership of the company is that in 1935, the company transferred 3000 shares of stock in Standard Oil Company of Kentucky to the Schwartzel and Marguet families.  The stock was split evenly with Joseph Schwartzel receiving 1500 shares and the Marguet family receiving 1500 shares.  This would indicate that Charles may have owned all the stock when he died but there was probably some other arrangement.

Appraisal by The Lloyd-Thomas Co., 11/14/1951 Ė A 300 Page very detailed appraisal

Replacement Value             $1,037,012.59

Accrued Depreciation         $   493,049.01

Depreciated Value             $   543,963.58

Not included:

        Land

 Raw Materials

Finished Produces   

Automobiles  

        Repair Parts

        Office Supplies

        Tools

         Personal Property of Offices and Employees

Depreciated Value       $   543,963.58

Land (factory)

Raw Materials

Work-in-process

Finished goods

Land - Forest

Receivables

Other assets

            Total Assets  $

 

Current liabilities

Long Term Liabilities

            Total Liabilities            $

Shareholders Equinity

Goodwill

 

4/15/41

6/19/42

12/6/43

Joseph

90

65

7

Charles Schwartzel

25

7

13

John

15

23

26

Catherine

15

23

50

Gerard

15

23

26

Mary

15

24

27

Jim

 

10

26

 

 

 

 

 

175

175

175

 

 

 

 

Share Holders as of 12/43

 

 

Margaret Moser

 

 

18

Helen Schmidt

 

 

18

Charles Marguet

 

 

20

Jean Marguet

 

 

19

Joseph Marguet

 

 

19

Anna Marie Marguet

 

18

Isadore Marguet

 

 

27

 

 

 

139

 

 

 

 

Ed Hannon

 

 

28

 

 

 

 

Elizabeth Cullen Fallon

 

16

John T. Cullen

 

 

65

Margaret Cullen

 

 

71

James Cullen

 

 

3

Amma B. Cullen

 

 

3

 

 

 

 

 

 

 

158

 

 

 

 

 

 

 

500

 

Joseph Schwartzel            175 shares as per proxy

Joseph Marguet                  19

Ed Hannon                         28

Charles P Marguet              20

Charles P. Marguet            246 shares by proxy

Total                               488     

           

Catherine Schwartzel       1500

Margaret Moser                 250

Anna Marie Osborne          250

Helen Schmitt                  250

Charles P. Marguet           250

Joseph A Marguet            250

Audrey Marguet               250