New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-03-28
RAILROAD INTERESTS.
THE THREATENED OMAHA SUIT.
WHAT MEssRs. VANDERBILT AND DEPEW SAT- RE-
CxRpIyG MR. PogTEg's ANSWER

WHAT MESsRS. VANDERBILT AND DkPEN SA' NJ"
oARpING MR. PoBTER's ANSWER
William X. Vanderbilt and Chauncey NJ. De-
pew were asked yesterday what answer they would make
TO the reply of r. IT. Porter TO their letter to himself
David Dows and r. Flower in reference to the alleged
wrongful issue and appropriation OF portion OF the pre-
ferred stock OF tho Chicago. st. Paul ana minneapolis
Railway Company Their statement was az follows;
Their letter 10 Aessra David Dows r. p Flower ana
E. a. aa f1s's Of sne GScaso end
Omaha Rswsy Company Harysy ,o aen rSsss parties
for s p, ' n25..d Is Of .r's sales OF
az u the sns cbIrSSoe st. Paul and Minneapolis Railway
Company The case tried in this city before Judge
Van Worst As the Chicago and SortaWes.erp . Mn.
neapos and Omaha stock, Austin g. Fox, est was 49,, TO
tanned to for any interest might nave n .e Dow
and Flower. and the opinion OF Judge Van yorst:
Mr. For advised the Chicago. So Pan Mnneapo 81 sno
ton against these gentlemen "a directors for t9e %
thorzed issue and distribution OF $3.50 shares Of aas
Railway Company. Thereup0n the ExecutYe Commute
Of the Chicago g. Paq Minneapolis and omaaa p S5sv
committee examine into the rights OF the eompahy
and take such action az Isns GS 6
came conclusion as had Mr. Fox. Ihey rnen
submitted the whole matter TO exJudge George r. C0-
stock who rendered the following opinion;
Ibavs examined professionally into the facts connected
g the suS Of md nasSa s wSy
year 1868 BY H. Porter tho president and some o, h
transaction appears to have been the sa6jsst OF
CATION IN suit in the Supreme Court Of Newly orr aeSss
Porter and the Ohor directors referred 10 were ne
that suit the found and passed upon y tno
Judge who tried the From all the data nrasd a Gon
cInfe $3.50 shares OF stock equal 10 tossVp pa
yaue were without consideration pain 70 tho
railway company. and appropriated the greaiter
portion Mr. Porter other PORTIONS DF MS
directors and smaller portions 10 OtneI
sons the relation OF trustees lot tDe
protection OF the corporate estat anu 70
uc protect IL against the Issuance OF any oO
legation which might bring charge upon H. uhles
the Issues under due authority ana Tor que cO
Grafton certainty bound 70 abstain themselves from
dealings IN their favor which they could not permit IN
favor OF any one therefore liable 20 account
with their company respect the $3.50 shares OF preisfrs
'''N ~ ~ ~ RPF Csigneil GRoRGE z. CoMsTocK
Messrs. Vanderbilt and Depew not wishing 20 DO any
Injustice these gentlemen in so grave mater seut
them the letter furnished to all the morning papers oy
Mr. Porter in the hope that bysasfactOry explanations
litigation might avoided Their only duty and purpose
was TO protect the interests Of the company for when
they were acting Mr. Porter answers them hrst tnrough
the newspapers his letter reaching the persons to whom
ID was addressed after its publication His reply brings
in matters relating to Mr. William III. Vanderbilt tue R0cK
Island election and subjects
no reply the serious inquiry under what authority ana
for what consideration $3.50 shares of the preferred STOCK
company OF which he president we're Issued anu
distributed to himself and others.