Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1881-04-11
Aanraster fatelllgenrer.
MONDAY EVENING. APRIL II. 1881,
A Vain Decision.

VAIN DtCIblOU.
The Philadelphia Times thinks it worth
while to speak of Mr.. Gowen's presi-
dency of the Reading road as being end
ed, and to give the title Of president to
Mr.. Fond. It is very shadowy title, to
even tie title, that Mr.. Bond has, and he
has not a promising prospect of taking
anything very substantial by the decis-
ion of the court in his favor, which it
seems to think, itself, does not amount to
anything Mr.. Bonds counsel not being
able to get from it an order to put
him in possession of the Office
to which it declares him entitled.
The court inclined to think that new
procedure by quo ,carsunto would he
needed to install the elected officers.
Such impotence in the courts de-
cision seems to show that there was some
thing radically wrong in the method in
which it undertook to take hold of this
dispute; for certainly if Bond is presi-
dent, and it had right to so declare
him, and went about it in the proper
form, it ought to be able to install him
into the Office it DEGREES him. Proceed
ings which are so ineffective would APP
pear to have been wrongly taken. 1t is
not very creditab!e to the lawyers and
judges that they should have worked So
long over this thing without practical
result after the decision Of the case has
been reached; nor does inspire the lay
mind with supreme respect for the
law-or the judiciary--to be told that
the Reading officers have been
elected by minority of the stockholders,
though we must feel good deal of sat.
isfaction at the inability that is discov-
cred to make SO silly a law operative in
putting men such chosen into their places
The stock market speedily appreciated
the fact that this decision was OF no con.
sequence at all, as is indicated in the un.
changed price of Reading. 1t is very
obvious that, with the corporation prop
erty in the hands of receivers, the tenn
porary installation Of officers elected by
a minority..of the stockholders, and there.
fore to he speedily put out, would
amount to nothing even if it could BIZ
effected. As long as Mr.. Gowen is sus
tanned by the owners of the property he
will be master of the situation, whoever
for the time being may nominally he
president of the company.
Mr.. Bond and his directors have moi
even been able to hold meeting in the
Reading building, which is legally in the
custody of the receivers. as is every
cents worth of the property Of the com
pany. The newly declared officers hat
not place to repose themselves in, and
held their first meeting in the suspicion:
quarters Of the Texas i Pacific railroad
company. This was ill-advised in mer
who are charged by Mr.. Gowen Will
being the agents of railroad corporation!
hostile to the Reading. Mr.. Gould /!
the moving spirit of the Texas & Pacific
and Mr.. Scott was. Mr.. Bond would
have been wiser to have called his direct
ors together in his par!or, at the Cont
mental, Or in his bed room, if he does no
indulge in the luxury of parlor. II,
shows great discretion in not having
special office; for the company he repre-
sents has no money or assets under it,
control and no business to do. His dut;e!
are light, his cash invisible and his neet
Of Office accommodations accordingly
limited. Mr.. Bond is to be cnvied, in.
deed. We dc not know anyone wht
can enjoy the honorable title of presi-
dent OF SO big corporation with SO lit
tie worriment.