The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1881-01-21
x.sfuk PACKET Company.
st. Louis Republican, soth.


A meeting OF the stockholders of the
Keokuk Northern Line Packet company
was held yesterday afternoon at the
company's Office. ''ior the election OF nine
directors to serve for the ensuing year
and for the transaction of such oshsr
business as may be brought before them. -
The voting resulted in the election OF
Henry Lourey. T. L Johnston, r. G.
Ksrsns, r. C. Gray, Darius Hunkins, II
II, Griffith, John K. Baker. g. Ken
nedy and james Il. Andersen. The last
named geptlsm an 10 resident of Ksokuk.
The others reside 10 st. Louis. The
election of Messrs Loursy. Johnston.
Ksrsns, Gray. Hunkins and Griffith vas a
reelection. The remaining three were
in place Of D. Il. Powell, Thomas B. Hill
and James Ward. Attic meeting. of the
old board last Saturday afternoon, Mr.
Powell voted with Messrs Lourey and
Johnston against the resolution to assign
the eompany's property to q receiver. and
Messrs. Hill and Ward voted with Mcssre
GRAY and Griffith IN favor OF it. All
thtes of the nsw members, Baker.
Kennedy and Andsrson, are Davidson
men, SO that the new board stands to 3
against the Hunkins faction.
The "othsr business THAI the meeting
was called to transact was Ia relation to
thu action of tbs old board OF directors
last Saturday, declaring the corporation
to be iusolyens and making al assignmsnt
of the comp.ny's property to Charles
Green as receiver. IL was expected that
the meeting would De hveiy one and 1t
wss A. soop as the new board had bsen
slectsd Mr.. Andersen OF ksokuk offered
the follovinx resolution for the purpose of
hr;no;nc the matter before the meeting:
Pe.oireG. That the action Of the board
IF }irentors OF this company at their 10 Get
;nv Saturday. January Is, 1881, in max
;ng the assignment for the benefit of the
crsd;.or, of the corporation, be and il
barahv approved. ratified aud confirmed
bv their stockholders.
II was seconded by Mr. }, T. Baker.
MIR A A. NJ. Hutchinson offered the
following substitute:
RcsoIred, by the stockholders of the
K eokuk Northern Line Packet company,
th.t the action OF iou- OF the directors O.
RI. company Saturday, January Is, 1881,
in .,temntiux to make au assignment for
,h. benefit of the creditors. against
the protest of three directors at such
meeting upon papers prepared beforehand
bv the four directors. IN conspiracy to de-
fraud the stockholders Of the company Of
their property and rights as such, was un
authorised, and an attempt to ruin the
company. and ia now by this meeting Of
stockholders prenourcsd null and void
and against the best interests Of the COM
pany; tina. the property and assets Of the
company are ample, 10 the Judgment Of
the stockholders, to pay all the debts of
the corporation and to carry Cd the busin-
ess of the company. and that the
same should be done.
The substitute was seconded by Mr..
kersns.
4 loud discussion followed, in which
the action of the mplority msmbers OF the
board last Saturday was severely de
nounesd by Capt. W. +. Davidson and
Messrs. Andersen, Hutchinson. Kerens,
Lourey, Kennedy aud Baker. and warmly
defended by Messrs. Gray and Griffith.
Mr.. Eurkins bad nothing to say tie
substitute vas adopted by she following
vote:
For the substitute II Anderson. W.
E Burr. John e Baker, Lon Bryson, 2.
Conrad, B. II. Campbsil. w F Davidson,
P Davidson, NJ Hutchinson. Il
Hatcher. L Johnston. J G Kennedy. ID
r Powell, j Ohm Shether, Il L9urey aud S
w McMunn, representing in the aggre-
gate l. 5000 shares.
Against the subssitu,e-T j Buford, r
G Gray, L Il Griffith, D Huukins, Henry
Hill, Adam Jacobs. NJ Is L jerks, G. r.
Melville, 8 w McMasters. j b Rhodes
and James Ward, representing in the
aggregate 2, 4Sl shares.
The total number Of shares into which
the company's stock 10 divided is 1910,
The following resolution was offered by
Can't w F Davidson:
ResolUed, that ths action Of a part OF
the board of directors OF the Keokuk
Northern Line Packet company on Satur-
day Is, 1881, aud of d Hunkins, president
of the company. IN pursuance thereof,
whereby an attempt to transfer the pro-
perty of the company to Charles Green as
assignee under the iusolvent laws of the
state of Missouri was unnecessary, IN
authorized and against the interests of
this company and its creditors. and 10 vio-
latlon Of their dutiss as directors. and was
an attempt by a minority in interest to
ruin the company. and az agaius. the COM
pany vas fraudulent. The assets of the
com pany being. in the judgement of the
stockholders in meeting assem- bled.
amply to pay the debts and leave Q sur
plus for working capital.
Resolved that the attempted action on
the part OF four members of the board be
and is hereby repudiated by the stock,
holders. as the action of this company. and
the newly elected board of directors, ars
requested to make demand on said Charles
Green for the delivery OF sny pretended
conveyances when may have been DELIVER
cd to him and in case of refusal on his
part the newly elected board sbsll take
such steps az may by deemed advisable to
protect the interest of the company.
Ths vote on this resolution was the
same as the vote on the Hutchinson reso-
luton.
At the meeting Of the stockholders the
new board of directors organized. slecting
Mr.: Lourey president and Mr. Johnston
secretary by vote OF 5 to 8 MIR. Hun
kins was president of the old board and
Mr. Johnston secretary.
Another board Ii setting and also another
meeting of stockholders will be held at the
Office next Friday afternoon.
Railroad Accident