, 1865-10-10
The Chicago and Northwestern and tn
Chicago and milwaukee, Railroads,
.81.TQ,@

terest warrants promptly; but for reason o.
the want Of q connecting link IT. Milwaukee
with tie several Western roads, the Chicago
and Northwestern Railroad Company was
enabled To successfully compete; with the road
for all business north OF Milwaukee.
To remedy this difficulty, the consolidated
Company, through the influence Of the presi.
dent elect, Alexander Mitchell, Esq. succeed.
cd In overcoming the prejudfces OF the citt.
! Zeus of Milwaukee TO the running Of tho cars
fcm the common council TO make close
| connection with the Milwaukee land st. Paul
Company, In which he was largely interested,
nnd to, form joint depot in the heart Of the
city, at IN expense Of soma el00. .00o, and I'm.
der contract the. expcnse- was paid by the
"Chicngo and Milwaukee Company purchas.
ing $l00, ,0O Of the coppany'a station bonds,
issued for tie special purpose.
About this time plan was started by some
Of the leading spirits Of the Milwaukee and
S.; ST. Psu, saa Company Company to "gonble apn tho cni-
ion,'' and make it part Of theiE line, which
would give them direct line from Chicago
to the Northwest, and q competing line with
the Chicago and Northwestern Railroad Com
.pany. Bnt the plan failed for reason of the
watehtnlness Of Perry Smith, Esq, the great
manipulation and Vice President OF The Nest
crn Company.
He il q ehreWd business man, and, In my
opinion, has not his equal in the Great West
In the manipulating and managing or rail-
road corporation. Hc SAW at glance the
necessity Of preventing the st. Paul Compa-
prevent II. He succeeded by purchasing
more than one-half the stock Of the Chicago
md Milwaukee Company, md managed
10 get the immediate possession ind
control Of the corporation: The stock
name Of William h. Ogden aud SOME of tie
operatives, directors and clerks OF the COM
puny, exceeds II ,00O shares. was Informed
at the time that the money necessary to pay
for this large purchase Was raised by selling
preferred shares Of the Chicago. and North.
price paid for the Il, 900 shares averaged 90
per cent. Total cost, 81, eco, goo. ;ChIcag and
Northwestern preferred stock was worth
about IS per cent at the time, Nov, may
have been misnformed as to the: fnil partIcu-
lars Of the transaction; ; but II my statement
den please explain all the facts in bis long
looked-fot repoltt Iwould most respectful
1y suggest to the board Of managers of the
Chicago and Northwestern Railroad Company
that a trustee stlould be appointed by their
board to represent this large and valuable
property on the books Of tae Milwaukee Com
pany. II would be pruXnt, to say the least,
in case Of the death Of xuy Of the parties now
representing the Com paby.
J. The road Is ono Of Tie most valuable pieces
OF railEoad property In the United States, md
under proper management Is capable OF earn
ing more money per mile than any rond IN
the country. II Is Utterly passenger road,
md rs 1t costs nothing to .load and dis
Charge" the expenses Of the company are
ye1y light In comparison to the large easn-
ings. -..
This year they will reach Sf,000, ,00g Aud the
net sum, allowing for extraordinary expenses;
Will amount to t120, 600, which is cqull to Il
per cent On the capital stock after paying the
interest warrants on bonded debt lcongratu-
late the managers Of the Chicago and North
western Railroad company upon securing the
control ot this valuable property; but would
most respectfully warn them that the min
orfty shareholder have rights, and that they
must be respected A protest vas made at
tic annual meeting BY them against the merg
Ing Or consolidation with the Chicago and
Northwestern Railroad company rpon any.
terms, Resolutions Nos. 2, s and s ID the pro-
test were as fol1ows: ~
No. 2 We protest against the present Board
Of Directors, and against the actto1 Of any
Board Of Directors that may be elected at the
ennual meeting Of the company, to te held in
Milwaukee On ths 14th ms: IS well g against
the majority Of the shareholders Wh1 shall be
preaent at the annual meeting, doing anything
that shall in any wise impair our rights and
interests In the Chicago & Milwaukee Rail-
road Company, claiming We are Joint owners
IN the property, profits and e1nolnments OF
The corporation, and that majority Of the
shareholders, or Board Of Directors, elected
By them, have no power to ALLEVIATE The prop
erty, privileges and franchises Of the compa.
ny, OF to divert the revenues Of the company
for any purposes other than those authorized
by the company; ..
Nc. g.: That, as minority shareholders, we
yield only the right Of the majority TO nccom-
Pllsh the object for which the company was
organized, while we claim that nothing ehan
pc done by the authorities Of the corporation
to impair the valpe OF our property, or 10 90