New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1884-02-16
OF ROCK ISLAND
WISHING TO SEE THE COSiPANYs BOOKS
AN APPEAL TO THE CoURTs--wHAr Mr.. KENNEpf
AID PRESIDENT CABLE SAY.

the stock Exchange has obtained from Justice ponohue
OF the Supreme Court, order returnabe IN Monday
directing the Rock Island Railway Company a sho"
cause why the books of the company should no"
he exhibited or list OF the stockholders furnished TO
him Its generally understood in Wall Street that MI
Kennedy IS acting IN the interest OF william H. Nahuei
bit Il certain that contest for the control VIII DC
made At The next general meeting of the company III
June The terms Of Office OF four members OF the present
board-H. II. Porter Jay Gould Francis II. To~s' ana
James r. Cowing-expire tins year. ma~Ii'y IN the
directory cannot be by the opposition unless
vacancies should be made by resignation
Mr. Kennedy said yesterday that he should SOLICIT
s from the stockholders for the purpose OF placing in
The board the next meeting four of the best roHu
men ia the country He has not selected the men. he
added The road since the death OF John r. Tracy anu
the retirement OF william L. scott has dred into tne
hands of inexperienced managers Mr.. Porter ana MI.
Cable are probably two OF the unpopular RAILROAD
managers in the Northwest Mr.. Porter Is speculative
adyenturer and the president is coal dealer WIN niue
experience IN the management OF IaiToads Ihese nch
have the OF untold trouble to the great ra
road interests OF tie Northwest Hugh Riddle modest
man Of great ability was forced by them to resign the
presidency without the stockholders knowing anything
about it, David Dows is Old gentleman In poor
health Me,srs Gould and Dillon have time to attend
to the management and Il. T. Flower. believe Il run
ming for Presidency The company is under the an
soute control OF Cable and Porter and want to SEE
been consulted b. me in this natter"
VIGOROUS TALK FROM PRESIDENT CABLE.
President Gable said last night that when MI Kennedy
made before beginning MS suit he stated 70
Mr. Tows that he represented Mr.. Vanderbilt the laTg
est stOckholder" but lister IN TIE day he attempted To
modify this statement ~Ths WIS undoubtedly promp-
teL." Mr.. Cable said, by suggestion from headgar
ters that been ndiscreet in naming bis principal
have not changed my opinion that Mr. Vanderbilt II
the real party. As d stO khoIer In the Rock island
Company he has ground for complaint but as "In
H. Vanderbilt he feels that his shares are entitled 10
more consideration than like number OF shares owned
by any other person, stockhoder IN the chicago
and Northwestern he feels that the Rock Island manage
inent las not been sb-eryeut TO that OF Its rival the
Northwestern his Interests require He owns l-O"O
shares Of Rock IsGd stock which worth in the market
to-day about SI4OO.0OO but which cost him not over
100000 lie has never received less than eight per
cent dividends the cost Of these res, and Is NO" re-
eei,ing M least fourteen per cent A man with Mr.
vanderbilt financial should be ale to bear
such by the management OF The Rock Island
Company with reasonable degree Of fortiiude.
Sc For many year, the stockholders have sent their
Iroxies 10 Hugh Riddle. David D0ws and Francis H.
, lows. short time Iror the last meeting and
while M Riddle WAS president Mr. Vanderbilt wrote to
one ot these gentlemen demanding that the
largest si0ckholder he should be accorded the right
to name two gentlemen VINO shOuld be admitted TO the
Board Of Directors and Executive Committee as bis rep
resentatvesin other words that two dire tors VINO had
served the company faithfully AID honestly FOL years
and who acquainted with TIE property ana us
relations to other lines and to the country, should
be DISPLACED that persons might BE- Installed who would
do what they could mould .He policies of the company
| TO the personal interests OF william H. Vanderbilt The
suggestion in the note tat this demand obviously
reasonable that i should be conceded without hesitation
did not secure the concession promptly as wa seem
| ingly expected This demand enforced by Albert
| r., md nvgrg teTu
! Company, least two interviews with Mr..
/ Riddle Yet the gentlemen holding the proxies
hesitatcd IIcy probably assumed that long service IN
the hoard and thorough acquaintance with the property
and It's interests more important TO the owners OF
10000 shares stock td WOd bv the personal prefer
euces or even the personal interests Of single man VINO
owned 1900 shares which be might dispose OF at any
tme director selected with regard 10 his knoWledse
OF The property interests, II always representa-
! tive the st0csnoller whoever lie may DO; the man
selected TO represent Mr. Vanderbilt VIII continue 70
represent him. though he should sell every share standing
| ia his name.
STABILITY OF TIE ROCK ISLAND BOARD
n my iud gmcnt az the great secrets OF the success
Of the Rock Island has been in the stability
OF it, board Here Tile Of its reports They show that
Francis H. lows was director IL 1896, David Bows
in 1857 Many other might be named who
served for years, and removed at
last by death. say these considerations
may have influenced these gentlemen. Whether this be
TO recognize vicious Principe, winch would nave Dten
totally Destructive Of the rI-hts OF Al oyerwAelin
PROPOSITION: Dir. Vanderbilt represented about one
iOrtieta Of the shares and demanded the
i'm other words OF the stock should cleo,
Is.lt of the qrectOrs and The remaining thirty nine
ortjeth, the other nye-sixhs. How many large stock
~ Tr VanIerbt Tor the tllty -uiu orle;ls pub
ne mas been tod that many permanent stock
holders 'can mentioned WfO would gadly ne
tDiIS IN give Mr. Vanderbilt, or any one representing
bis interests their proxies to make tue presidency OF M
Cable ~ sDOriyed possible Iuls may be true' Du
now many ale wiling by dis posing Of their proxies.
/ ,ra.t fuiT q
of the stock 10 Out thrty0uf iOitlcts ms
~ the nrst issue Joined between Mr. Vanderbilt and toe
present management. Usually ulnontes do
! not submit gracefully TO me HeeEhg
avn satisfied tue holders OF tartK ortietAs OF the
stock would gladly De "lAn4 90 pc Loltn olt ny lu1
sixoretns because they are held uy @i vanderbilt IL
will not be necessary take strpa T. terminate my pre1
depcy Ine present managcuio at mas always Aepl III
i N1cb ineucng Mr. va1doru, win As 1000 suares,
and the widow wAo depends npon tle div
| blends few hundred shhlei - Ler ony
| means OF subsistence. IL IA. wen
to understand now ta4t tnis man cement VII mol 5elI
10 This demand oil Mr. NandelDIt Ohii tHahEc i Ih
~ 900 shares wIil cast 1900 votes and no m0reAd
tins without regard ~ VINO "n3 .Aeh At tuIs piial4o
is abandoned the STOCKHOLDERS musl make IHe "a"
NIX. vANDEEBILTs DIVIDED INTERESTS.
"AsI have stated before Vanderbilt has Interests in
the Rock Island Company whicl oosS him less than
100000, but which to-day have market value
Of abont Sl,4OO,OOO. He has himself stated
| that his interests in tho Northwestern
| Company amount TO over twenty mlhonA The
probability is that his interests In the railroads which
compose its system 70 much more than 100000
600 The Rock Island aid Northwestern are riNai uhes'
T. II dhcult 70 see the prcpOnderance OF Mr.. Wander
| bilf's lnterestsi VIII he subordinate has twenty
| ana more millions In the Northwestern 10 Ills
- 400 600 III the iock Isandf VIII those men who are
sdinited to the Rock Island board ns yoTed agents
nave more interests OF his cOsharehOlOeLs la
| Tne Rock island than iUr those III Ine
| North-yesternt VIII the scores OF the Rock Island
he ftn uly Kept when their revelation u the NoitI-
regfern nana-eme wOld promote Mr. vanderbilt III
tere.ts in that company DO understand IS r.
ffIatllt
Ins lOF bOJB Two OF lac present 'lrectOts OF
tne ROCK leland aro also in The Southwestern Board.
1bev UnuId AEON however ~ 20 influenced wneu actng
for tner cOmpany ~ INC interests o. the OAeF !ut nf
Vanderbilt dA not demand tHc admission Oh suCA mon
~ md va that they should cone Ii as his repro
sentatiYo5. NcI1hSA '44s 80 - - Pc rel :
wuicn requires tue suDserylsncy Oh s,le oCA lAl~ld