Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-06-10
A DRAWN BATTLE.
-Betsceen the Factions C0ntenGing for Con-
troll of tAe Chicago and Northeastern.
E<rS7,

Railroad.
iChicago Times, June I'll
The annual election of the Chicago and
Northwestern railway company took place at
the Office of the company in this city, on
yesterday afternoon, President Keep occupy
ing the chair. The number of stockholders
present was less than twenty The stock
was bunched,' under the compromise
agreed to on Wednesday evening, and con-
sequently the individual amounts polled
were unknown even to the stockholders.
The total number of shares voted was
81 ,O08, out of possible 416,47s, in other
words. out of q total invested capital, count
ing both stock and bonds, of SAL ,647 800,
there was represented at the meeting
trif1e over $31 100000. It was currently re-
ported following the election, that the Gould
Dillon party planked down between $12 ,OOO,-
goo and $l3,OOO,OOO, which the Amsterdam
Dutch and their allies ''saw,'' and then
quietly "raised,' them several millions.
The result was as follows: There were
six directors whose terms of Office expired
on yesterday, viz: Jay Gould, William L.
Scott, Harvey Kennedy, s. NJ. Mills, John
Bloodgood, and J. L. Ten Have: and of
this number three1were reelected, namely
Gould, Ten Have and Scott. The new di-
rectors elected in place of Kennedy. Mills
and Bloodgood were D. 2. Morgan, Frank
Work. and c.. J. Osborne, all of
New York. Each of these is elected
for term of three years.
j. H. Howe and II. H. Porter handed in
their designations. Their terms of Office.
respectively, would not have expired for one
and two years hence. Perry II. Smith, of
Chicago, was elected in place of Porter, and
David Jones, of New York, in place of
Howe.
| Upon the result of the vote for directors
being announced. the new board organized
and reelected Albert Keep, president; M L.
SYKES, Dr., wee president, secretary and
treasurer; S. o. Howe, assistant secretary
and treasurer in New York, and J. B. Red
| held, assistant secretary and treasurer in
| Chicago. Marvin Hughitt will, of course.
continue in the position of general manager.
The executive committee was elected as
follows Jay Gould, David Bows, w. L.
Scott, D. P. Morgan and Frank Wofk. The
new members Of this committee are Gould.
| Morgan and Work, who take the places Of
John NJ. Burke, NJ L. Sykes, Jr., and Fl. Fl.
Porter, whose terms had expired by limlta-
ton.
| Then followed in succession the elections
of the following proprietary lines: st.
Charles railroad, Elgin and State line, State
line and Union, Winona and st. Peter
Rochester and Northern Minnesota, Mime
sofa Valley. Menominee River railroad. and
Chicago q Milwaukee railroad. The directors
OF these lines are composed of Northwestern
directors. But two changes were made, and
these were in the board of the Chicago and
Milwaukee railroad, j. II. Howe being
elected president IN place of M. Keep and
the latter dropping INTO the place of Nj. L.
Sykes as vice president.
The compromise ticket agreed to on
Wednesday evening, and printed in yester-
| days Times, was revised on yesterday morn
ing. It had been conditioned that J. Fl.
/ Howe and II. p. Flower should resign their
positions in the board. On yesterday, almost
the last thing before the election took place.
it was decided to sacrifice II. II. Porter in
! stead of Il. T. Flower, and the victim was
formally notified to prepare for immolation
Mr.. Porter was not prepared for any such
surprise as this, and, while apparently sub
mlttlng to the decree in perfect meekness,
was nevertheless smarting under the lndig-
nifty. He stayed away from the meeting,
but called IN and made a minute of the re-
suit after the stockholders had dispersed It
was said that Mr.. Porter's enforced retire
ment from the board had been de-
manded because of his alleged hostility
to the present management To
what extent he antagonized the officers
OF the road his opponents were careful not
to state. 1t is said that the Amsterdam
shareholders, who are partisans of the pres
ent administration, got their "Dutcll up
over MIR. Potter conduct, and retaliated by
demanding his head. Porter probably
hopes to live long enough to get even with
everybody. He has been for many wears
past prominently identified with the man
agement of the Northwestern. It will be
observed that Mr.. Howe was not SO literally
sacrificed. the presidency of one of the pro-
prietary lines having been conferred upon
him in lieu of his dictatorship.
The statements, SO often repeated of late.
to the effect that Gould and Dillon had been
rak1ng the four corners Of the continent for
Northwestern proxies, was vehemently de-
MED last evening by a heavy stakeholder in
the company, in conversation with Times
reporter. He defended Gould against the
lmputatlon that he was trying to still more
sumpfuously feather his nest at the expense
OF the magnificent property Of this COM
NouAN oAAt I/ulOu, SdlO. wanted
to improve the stock they own, and this
they could only hope to do by maintaining
the property of the company in first
class condition, and. therefore, whatever
benefited them individually must benefit
the public correspondingly. He stated that
but for the repeated lmpertinences of the
Amsterdam shareholders, conveyed in the
most insulting letters to Mr.. Gould, the
latter gentleman would not have bought up
the large amount Of stock which he now
owns. This gentleman is the authority for
the statement that the Dutch shareholders
told Mr.. Gould that lie might name his sue
cessor III the directory, but that under no
circumstances would he be tolerated in the
board: and it was this impertinence that Mr..
Gould set out to rebuke He not onlv
bought up enough stock to make his place
IN the directory secure, but welded
sufficient power to make others feel quite
insecure in their positions for awhile. But,
said he, in conclusion, the Gould party do
not care to control the Northwestern; thew
only desire to protect and promote the best
interests of the road.
Another stakeholder and director. who
leans little toward the Union Pacific in
terest, said last evening that eight out of
the seventeen directors were of Gouldish
pro clivities, and that Gould and his allies