The Tiffin tribune. (Tiffin, Ohio) 1868-1887, 1873-10-23
Removal of Rush r. sloane from the

Removal or Rush z. sloane from the
Presidency OF the c., S. q C. Railroad.
We find the following in the San
dusky Register of Friday last:
/ The Directors of the above compa-
ny have furnished the important in
formation that sat the annual meet
ing of the Stockholders OF the Cincin-
natl, Saudusky q Cleveland Railroad,
held on Wednesday, the 18th inst,
Rush r. Sloane was by unanimous
vote removed from the Office of Pres
ident and director. Messrs. VIM.
Wiltshire, of Cincinnati, J. D. Cham.
berlin of Sandusky, and John H.
Thomas of Springfield, were elected
directors"
JUDGE SLOANE'S STATEMENT.
After receiving the above informa-
ton, our reporter called upon Judge
Sloane for further information in re-
gard to the action of the Company.
Judge Sloane was unwilling to make
any statement further than to ask
suspension of public judgment until
the facts could be made known. He
did state that he regarded the action
of the stockholders who were present
at the meeting of Wednesday as un-
warranted and most extraordinary,
and that majority Of the individual
stockholders present expressed that
opinion, and that one stoekholder, a
Boston gentleman, in stating that he
opposed the resolution, declared at
the meeting, that it was passing sen
tence before conviction. Judge
Sloane also stated that there were
but nine stockholders present at the
meeting, all but two of them from
abroad. He also stated that the two
stockholders who had determined to
see the resolution through, finding
that on parole vote the resolution
could not be passed, called for stock
vote, the two in question holding
proxies sufficient TO control the meet
ing. Judge Sloane also stated he had
not intended to continue in the man.
agement Of the company and had al |
ready made preparations to go abroad
to remain some time, and that his in
tention to retire was not only known
to his personal friends in the city, but
to the officers and some of the direct
ors Of the Company. Judge Sloane
states that his time had already ex-
pired, and that the meeting was for
the purpose of electing directors and
officers, and that no action such as
was taken was necessary, even had
the stockholders desired a new man
agement.
In the Register of Tuesday we find |
this further in reference to Mr.. Sloane:
Yesterday our reporter had an in-
terview with the managers CT the
Cincinnati, Sandusky and Cleveland |
Railroad who desired to give the pub
lie the following Information: At
the meeting of the stockholders held |
on the 18th instant, the resolution to |
remove Rush r. Sloane-was intro |
duced; that it was considered at |
length; that some objection was
made to it by certain gentlemen who |
were not familiar with the facts elicit |
ed by the directors who had been for
some months investigating the exec
utive management; that one of the
stockholders did remark that the res.
olution seemed to be passing sentence
before conviction. After considera-
ton the meeting adjourned at six
O'Clock until eight o'clock, at which
time Mr.. Sloane not appearing, ad-
journment was had until nine O'Clock,
when the following resolutions were
adopted:
WHEREAS, The pecuniary success of
this corporation, and a proper dis
charge oft duties to the public are
largely dependent on the integrity of
its officers and employees, and the
faithful performance Of their respect
i've duties and
WHERsAz, Il is proved to the salts
faction ofthis meeting, that the Pres
ident Of the Corporation, Rush r.
Sloane, has been unfaithful in his DO
sttion as an officer Of the road and to
the obligations of his oath of Office,
and
WHEREAS, his longer continuance
in Office as President and Director of
this Corporation, would be detriment-
al to the interests of the stockholders
and a violation on our part os the
trust reposed in Us by the public, it is
therefore -
RESOLVED, That Rush R.Sloane be and
is hereby removed from Office as Pres
ident and Director of this Corporation.
Our reporter was then shown the
record Of theproceedings which shows
that the preamble aud resolution were
adopted -hya unanimous vote, both
| parole and stock, over two-thirds of
the entire stock being represented.
From the books it appears that every
stockholder present approved the pre-
amble and resolution, and that the
gentlemen who had objected at the
afternoon session voted to adopt at
the evening session. This was all the
information the managers desired to
make publicAt this time, save that
the road would be managed in the in
tsrests of the public, and for the best
interests of the stockholders.
| Editorially the Register closes an
article in reference 70 the road and
the new management as follows:
The new management will be COM
4 posed OF thorough men of business
4 - --~s1r 4 K -