New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1876-11-15
LOCAL MISCELLANY.
LAKE SHORE STOCKHOLDERS.

LAKE SHORE STOCKHOLDERS.
,vcu ppocErp1NGs by RUFUS HATCH AND
OTHERS TO OBTAIS 4 LIST or TIE HOLDERS OF
LAKE SHORE STOCK.
A proceeding has been begun in the Supreme
Court ans the directors Of the Lake shore and N'h-
gan southern Railroad Company and others In the name
Of Russell Sage Rufus Hatch, and others, plaintiffs
claiming 10 own 81 600 900 OF stock The proceeding is
brought 10 compel the officers Of the company TO sho"
the transfer books Tie purpose ayo"ed Is shown I'D
n letter sent some weeks 10 VIM H. vanderbilt the
yicepre lent OF the company, which contains the lo
lowing:
As shareholders in this company, we are anXions TO-
- NJ t,e sbg.,lpI ers larg- number Of whom
We rpf,resent The sDiOuS depreciation III our '' 80
aTiSt as r %s in direct violation Of the rights
aud Interest Of the shareholdersIInHs, IL p"', t
a. stcl.t,lI.rs tbcmsr Ives should have an opportunity
If cXnr,ss tIcir views the subject ana coopcrdthS
together 10 some movement 10 a.I,9' y''1 az tI'
poPot.i nd ali ia ockhoicrs that We have mad,
rSnsf NJ yoI th IcaI head Of the company. VIII
Won De- good enough To instruct the transfer agent TO
us access 10 the booAs furnish us Win list OF 'h
stockholders
To this Mt. Vanderbilt answered in the following
words: while you ASH inspection Of the transfer
books Tor the purposes you state very large number o
stockholders object TO their names being generally
known or published. Under the circumstances NY "u'l
seems clearly defined by the statute
second letter was sent orcscn ing the legal views OF
Mr. Hatch and those acting with him, which was signed
NV Russell Sage, RuiiI, Hatch, Cammahh " Coz . VI
Mills a Co., p W. GIllaudet n =. frapou'' VIM
Morris & co.. Towar & LEANED, and : w. Booc"cA q"
Co. Nh Vanderbilt made briel answer IeioIilHE 'H
TO the Executive Committee.
Mr. Hatch in his affidavit. saws that Mr.. Nandcrmil
occupics like position on The NeW-Yoik Central ana
Hudson River Railroad Company th" Interests oil "i'h
corporation tls present managed are in conflict win
and adverse TO those Of the Lake shore road that Mr.
Vanderbilt owDs nearly two-thrds, or 20 per cent 4"
NewYotS Central stock; That hc owns only small in
erst in the Lake shore road The Lake shore can IN NO
event derive any advantage from mdihiduh- inns ""i
but on contrary II is suffering ana muse sue'' III,
parable damage thcIcirom. That AR. N"hdoiO"' H''
itbt,pdinr is carving the through freight and ra
seucers transferred from The New-1"rh Crh't" upon
tbe Lake Shore at dsp7opoitcnate and losing rates "
order 10 ,ncolrage and secure the through passenger
and freight over the NcwYorE Central road at proper
tonally high rates The New-Iorh Central" 10y I''-
son of this unequal aud unjust d'''ilHli''''H
In its favor, receives more Than lis pi"i"i-
ton of the through for freight ana passengers
while the receipts for the through rates ON the Lake
shore ar, correspond nely diminished From Tho rroi
arising from this UNJUST division Nc0-lork CcnI" is
enabled 10 MAINTAIN and uly It's regular per cent "h-
nua div lend but the h. shore has been i"Ic'H 10
cease 10 nay more tina J'c sondl nominal d'''''"''
II furnished with the Of The storAhoidrrs sH''
measures viii be taken viii prevent further drpie,
tou of the property. and force tue directors to SO man
age the companys attain, 70 make tile stock once moro
an per cent dividend paying one"
Judge Lawrence granted an order AGAINST the defend
ants that they show on Nov 20 Why they oo h"'
ordered 20 give access 20 the books.
A TRIBUNE reporter called upon RutdS Hatch Stei-
day 10 obtain information IN regard 90 This proc edn-
Mr.. Hatch said that there 100000 people holding
RAILWAY stocks and bond, who owners Oi the Id
roads of this country They had rights winch should 'e
respected, and which should be sustained by the press
and by the courts He refused To give any information
in regard 20 the affairs OF the Lake shore Company an"
sand thar the correspondence between Mr. Vanderbilt
and the persons interested IN this proceeding "oud c>
plain cyrryth to the satisfaction OF the So'hh'd's
Russell sage said to tLc reporter that he had heard '
the suit ouly few minutes before from gentleman WI"
had lust left his office lie had not begun the sut mon
authorized the use lis name; lac did not think 1t Wise
70 bru. the suit at this time. He supposed was lul
Hatch's suit He Cir StCe) was IN Ia orc reNVuS-
ment of freight rates remuneraute OASIS, Ohl ne
doubted the efficacy OF the ne cans adopted.