, 1881-03-26
Willard Getting the Best OF
the Northern Pacific
Tussle. s.,
An Injunction Issued Restraining
Sales Of tho Newly-ls-
sued Stock. &,
Points in the Complaint Of Willard
Which Prompted This Judi
oial Action.
Death Of William Beach Law.
renee, the Eminent
Jurist.
Ben Hill Tells What the Demo-
Gratis Must Do to Be
Saved.
Great Excitement Among the Cleo.
margarine ConspIrators Of The >
Metropolis.
The Legislative Committee Bent on
= Complete Investigation Of
the Abomination.
Bradstreet's Report Considered
Favorable, Considering the
Extraordinary Weather.
Permission Grantetl to Commence Work
on the New Tunnel on the New
York Side.
Predictions by Broker Of an Active
and Advancing Stock Market,
The Legislative Committee Bent on
= Complete Investigation Of
the Abomination.
Bradstreet's Report Considered
Favorable, Considering the
Extraordinary Weather.
Permission Grnntefl TO Commence Work
on the New Tunnel on the New
York Side.
Predictions by Broker Of an Active
and Advancing Stock Market


NOAla EttN l1AClElCs
4 BfG FIGHT.
Special Dtspnteh to 1he Chteaoo Tribune
New YoRK, March 25.-The Northern I'a-
ci1c and Oregon Railway & Navigation Cunl-
pany conflict promises to be lively une be-
fore tho parties Interested arc done. 1tr.
Willard Is determined to die game, II he dies
at all In tho contest. The controversy
as to whnt parties shall control
the Northern Pacific Railroad Company. and
who shall determine whether It's terminus
on tho Pacific Coust Is to bo at Portland or Mt
Tacoma, on Puget S,,il,d, las gut
Into tho SUPERIOR Court oil this city. An
action has been begun IN that Court byVlllarti
oh bplsalf of hiu,sef and other stockholders
OF tho Kallroad/ Compal,y against the Cuu,-
pany, Its Directors, and the TURNER'S Loan
d Trust Conphny. Tho purpose Ut tic
suit Is to restrain the defendants FROM tss,l-
ing to certain stockholders ts0,UO0 shares nf
the company's stock, aud from recognizing
as valid any Df such sl.ares already Issued.
IT Is UNDERSTOOD
among the persons having knowledge of the
affaErs Of the Northern Pacific Compntly TINT
II the $50 600 shares nre issued thoy will go III
great part, II not altogether. to Stockholders
who favor the present management of the
Company, and mny thus operate rs n bar
to the purpose Of a party whose recnEnlzctt
lender Is the p1antlir, Mr.. Henry VIllastl.
The complaint Of Mr.. Willard sets furtll "ttiat
lie Is the owner Of 100 shares OF tho pro-
ferred and 10000 siares of tho
common stock Of tho Northern Pacific
Railroad Company, each share being
Of the par vnlue OF $780, 1t rccites the fail-
use of tho original Northern ParIlc 1aafIroRtl
Company to pny interest Oil its mortgage
bonds which were Issued to tic amount of
S3t COX, 600, the foreclosure Of Tic mortgage,
and the sale Of nil tho Conlrany's property
and rights to committee of buntlholtlprs.
HEADED NJ MIa FREDERICK NIILSas,
In 1875. This Committee directed tie Or
eanization Of the Company, md passed. ia
the reorennized corporation tho title 10 the
property. and rights they had bought. Tho
new Company issued s30,0o0,000 Ut
preferred stock to tho holders ut tho
bonds. and coupons Of the old Northern
Taclhc Railr0nd Company, and to Its crcd-
itors. Tho amount OF common stock Of tho
new corporation Issued III exchange for conl-
mon stock OF the former company Is S3l ,D0O,-
600. According tn the actof Congress under
which the corporation operates, all
otlIer shares Of the Northern pacillc's
fap!tal stock must ha presented to
the public for subscription. and no share Gull
bo sold for less tllaM Its par value 0t S100.
After the Issuance Of tho common stock Of
tle present to the holders Of the common
stock of the former Northern l'acItlc Rail
road Company,
THERE REMAINED ONE lFuSnREp AND
EIGHTY THOUSAND bifA,.Es
not required to complete tho cxcha,ige. Nj
subscription has ever becn nlatlu for these
shares, yet, OH or about March IL, tho indI-
Fldnal defendants, Directors Of tho 1&aEIroud
Company or M Executive Committed
Of their number, tftrectctl the issuance
Of certificates fur tlola md their distribution
IN wllo!o or In great part to certain persons,
among whom uro the Directors themselves.
The certificates Wura nluie and tho
shares OF stock issued without Tho r.
ce!nt BY the railroad company of
any consideration. The persons to
whom tho shares havo bcoM issnrd cIalnt
them under an agrcenlcnt made prior to tic
foreclosure and sale above referred to, by
which certain parties undertook to divide
Among themselves all tie ctIpita stock Ut thu
CORPORATION. II any sucl. agreement was
made,
IT WAS FRAUDULENT, ILLEGAL. AND yoli,
attl, furthermore II was cancelled md rem
aered imperative BY the foreclosure OF tic |
mortgage and tho reorganization OF the I
Northern Pacific Isailroad Company" After |
uese premises the conclusion arrived ut IL |
uat any uni Rtl shares Ut stuck which |
havo been Inscribed utl thu Company !
Docks or Issued, or fur The Issuance of which |
measures l.nso been taken under tile pro-
ceellngs of the Directors Ut tho Culnpany OIL
March IS, arc issued orattcInptetIIto 10 Issued |
III Slolat!on Ut tue charter OF tho Company.
II THESE SHARES ARE ISSUED
sna recognized by the Trunxter Agent OF the
r,o Mottheftl Pacltae lsallroatl Company, llo and