, 1880-01-08
the bnck, failed To wnke tlp. lie recalled his
wife Immediately, and now he Is on tlmo all
pITTsDUHG l. LAKE ERIE.

ur. llOStGttcft or tho l'lttSnhfE Il LhKu ETC
Railrontl, Is tho principal topic Of discussion
in business circles. President Denhett says,
In reference to the charges which hnvo been
preferred nguinst him, that tho Issue OF pre-
fcrrcd stock has nothing TO do with the ac-
tEon Of Dr.. UostGttcr, because, when tho res
olntton was brought Zip before the Hoard of
Directors, he spoke and voted in favor Of It.
No resolution TO !sslio $500, Goo worth Of
preferred stock was ever offered before tic
Bonrl. The resolution which VAS offered,
anil which did pass, authorized tic
issuing Of $3.50, goo worth of preferred stock,
anu such subsequent issues rs w"nltl bn nee
cssnry to make up tho deficiency OF noll-tny-
mcnt Of subscriptions for common stuck,
which would increase Tho t0ial to nbo,it $780,
600, possibly s45o,ooo. It was proposed TINT,
II tho preferred stock should he Issued, It
should l,u distributed pro rata among those
who held tho common stock, and thus tlle
control Of tho rOntl wailld not llRve passed
nMt Of tic hands of tli'se Mw r',,sn!pK 1t.
rhis 1licstion Of preferred STOCK ltas,
l,!"wsycr, passed entirely out Of t!Ie
pulley Of tic Company to issue It, tis further
claimed by tho DenmItt sltle thAt. us DIR. Hos
tGstcr owl,s ole-tlftl' of tho stuck a'ltt fur
holder, and. If there could be .trfalt III the
payment of the Interest III tho lAll,tla I'll ,fMly
nsxt, lie would step #, ,asul take possession
Of the roat! nt nHct. 1t would ba easy. to
With Tho Luke Shore md THO Atlnntic y
tireHt Western hcrcuftrr, md thus cut Of MI
through business Atlt rttltce tlc ltttshurE "
Inke Eric to such II ltn1tra amount 0f blsl-
ness us wnuld hnnlly, pay tho running, TX.
President Bennett Is TINT he influenced Mr.
McGrlnn t9 give tl!o coi.trnct Tor steel rails
to tho Cleyclapt! Rnlitng-Mill Conllmny, MT!
"s q wo4se ferHe %s rS{F5 nSsF 5 Of & osss s sst so"ee
ton with tho CLEVELAND Company Mr.. len
nett nude money out of the t!Espositlon Of
tie co,,trnct BY Mct,rann. Mr.. Bennett las
i"sac The lnysts'attins Clttee En-, With
nl'ont tho colltract for rails Ia wholly falsr.
liz snys Mefirann Ind entire control OF tho
,.atser, mud when lie. {Denllett) heard TINT tho
Gievelant Company ha!l ,,naerbtl the Edgar
the officers Of tlle latter Company and tried
to persuade tllem to reduce their bid to cor
respond will, That of tho Cleveland Company,
II, n ot!nr e keel, tho work III Pittshnrg,
70 '' do. @ A ls tl s" WIS kiao%n ksSo ie'tHs to liz
board of Dlrectass, Of wlich llr.
ltostetter was,, nntl IL, ,nc,nber. MI.
lssMtlett dcn'cs that ilc ever offered to sell
Vanderbilt md a1so denies cnlplatlcally that
lle ever shared profits with Mr.. Afct;mntl, anu
he calls OH DR.. IIostetter to pruvn lis clalgcs
III tl'!s rssartl III Ills answer, a!r. Ben!!ctt
Ss lrys M s r rn sySr sHS',s Ssns tg IT, aHss 1sc. Sf "
nor has !,e advised its oyertl,rownl, MS liz
clainS nr. llostctter hns .loMe. It WIS
stated II the dIspat%,. t. 'r!1s Tn1l,-
frirnt!s ,ieny this, md say Mr.. llenriri has
stated positively to Dr. llnstetter tint hn
will support Mr.: Bennett and vote far lin at
the !,cXt election for President. Tho trust
tho holders Ut 2l ,o0o shares Of stock mt 0af
D,0OO shares, agreeing tint the vating power
shall be pllt into tile l,ands Of Trustees In
order To prevent the Pi,tsburg u Lake Erie
!ts! % lsS " rastrss M s ire WIil@ hSf[ It. rs Va1c9
ltft, J. II. Deverra,tS. .AlneS I. Bennett,
!. l1enrici, and David lEosselter. There wns
| q mcelliE Of tllo Cn'lllMtttee 0f lnyestlEn
tIon t!is afternoon, when tl'e, written reply
| Their report will he ready to lInMl into tho
| yearly meeting of stncklioldcrs on the tell
Inst. Ahollt II, 600 shares were voted. Mall
,,fncturcrsnre considerably excited over tho
tho hrcncll. Some 0t thcm fear tile npsllOt
| Of tho 1nnttcr Will hr thu acquisition Uf tn,
rnnl by tic Pennsylvania or tho Baltimore L.
| Ohio Company.
ST. PAUL EASTERN GRAND TRUNK.
| Special DaRateh 10 The Chicago Tribune.
| MILWAUKEE, JnM. 7.-l'rcstdent Rhine
lnrder, uf the Milwaukee,, Lake Shore Il;
| Western Railway, made Il statement to II re-
porter to-tlay that Is calculated to serve rs (,
tiainper upon tho now railway enterprise
Known MS tho st. Paul Eastern Gruyll Trunk.
Mr.. 1shnelantler sal the scheme to build tho
Hsw Ilne ' %ns nrolecte hy t'le iloi!; Ta c.
st. 1'nul tn Lake Michigan, nnti to complete
| It Will require tho construction ut several
short connecting lines Of ronsl. Thu Wlsco,,:
SIN 4 Minnesota Company, nswly-forlne.l
Interested IN the Wisconsin Central. stepped
forward and offered to buill 1ifty-four miles
from q point near Colby to tjse West Wlscon;;
f at Eu Gn1e n n soe otfr Poat aSt inst 9!
Western Company also offered to build Il
piecu Ut rontl from Its present northern ter.
| minus 70 point near Wanss1q., The three In.
tercsss ton ra1lse together, 9,ltl tle result wis
side, and A,IrssM. llh'nclantler nntt Colby on
fere with their respective !ncs, ant tinst il!
cnse they did not build within six months, all
vert to lin. Tl,ls saErccn,,egt was reduced te
amounts tn no more than this: You agrc(
IT, meat u ltltn ut Il Gertnn h0lr, md tell hin
alr. Pound llMl hse', n sonic expense II nsnk
Tho meeting III New York a!noslnted to nntll
ing wl"toyer, Slill something tIet'nit will b.
tia Prospects for buslntss ii connection VIII
tle iluw IIne. Alr. Rhincla,ltler xays: " w
eau only look to c,!rrytnE suppltrs a,ul SIT
tl|nE tho S,%Hntrs 1 Tis wnl 1; Se 's e on!
attrr. ca', s;y to you tl!at there It' Is ft'otli III
in{ positive 50 fur rs yG Arc concerned yrt
but look for sonle dellnit nction very soon.
| =. . <,,.,,.,,,. a,,.