The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1885-06-25
THE oONNOTTON,
A Sharp Fight Going on In Boston for Its
Possession,

------ H.|'....".
A sharp Fight Going on In Boston for Its
Possession,
There appears 10 be q sharp 1ght on
In Boston for the control OF the ConnOt-
Ton. The following circular has been
Issued by President Blood, soliciting
proxies 10 be used at the election TO be-
held az the company's headquarters In
Cleveland next wednesday:
To the Bondholders and Stockholders:
BOSTON, June 10, 1885.
] have now 10 report to you that the
railroad and property was purchased nj
q judicial sale May 9th. by the purchas
Ing committee appointed under the plan
OF reorganization, and q meeting has
been duly called for June Gath, for the
purpose OF completing the organization.
Up TO the present time have
received powers OF attorney 10 be
used at said meeting aggrpgating
20 per cent Of the entire owner
ship In this railroad and property; said
powers Will be used by me In accord
ance with the unanimous views and
wishes OF the reorganization committee
or ten, originally appointed by the
bondholders and stockholders, who now
have the matter OF reorganization In
charge. ANY who have not already for.
warned their proxies, and are desirous
or being represented, will please for,
ward the same to my address. Nos Con.
gress street, room 22, Boston, on or be.
fore June Goth, and they will be used In
con- Junction with others. Should pru
dent, active and vigorous management
DO placed In control of this railroad and
property, II Ia predicted that q satlsfac.
tory result financially may soon be Sc
cured.
When l took control Of your railroad
and property eighteen months ago Il
was In the hands OF q receiver. Litiga.
tlons OF all kinds and descriptions, and
personal liability for all OF the stock,
holders seemed Inevitable, and II really
looked az though the entire value of the
stock and bonds was gone beyond 70.
demptlon, with q strong chance OF par
ties holding the stock and bonds 10 be
obliged 10 contribute additional money
after losing oil. BY careful and jndl.
cious management OF your committees,
with such assistance az could render
them, we have finally succeeded In set
thing all litigation, and q plan was
adopted for the reorganization on an
equitable basis, securing the rights OF
all, and said plan did finally succeed and
secure the support Of 90 per cent. OF the
bondholders and 0i per cent. OF the
stockholders. l have 10 congratulate
ycu that we have been no successful In
relieving your company from its terrible
financial embarrassment In 30 short
time, especially when we come TO con-
slider that each and every movement has
been unreasonably opposed by the form.
or management, and now they call upon
you 10 revoke oil proxies which have
been sent to me for the use Of your com.
mlttee In completing the flnal reorgani.
lation, and they further advise you 10
send oil proxies 10 A, N. Parlin, which
they say will be used 10 prevent, IL poss.
ible, further control Of your property by
the present management. Now, gem
tlemen, the property 10 yours; II IL for
you TO determine what policy shall be
adopted, whether the present manage
ment, which has looked after and cared
for your Interest for the last eighteen
months Without compensation, shall
continue for the present until their
plans and designs are fully worked out;
or VIII you by your own act return the
management TO those who, II would
eeem, are perfectly willing TO aacrilce
their own Interests II they could have
the satisfaction OF seeing the Interests
OF others also sacriAced2
Az for myself, personally, | should
only DO too happy TO DO relieved OF tho
responsibility OF tho care OF your prop.
erty further, should II be the will OF the
owners, and content myself with the
fact that had been the means In assist.
Ing In saving something for the nine
hundred and ffty different owners, no
that the price OF the securities In this
road haa now u market value from 100
TO 400 per cent, more than could DO oh.
tanned for them eighteen months ago.
All or which Ia respectfully submitted
for your consideration. II. A, BLOOD,
President.
We understand that circulars have
been Issued by certain parties advising
that proxies should be sent 10 Mr., A. N.
Parlin rather than TO MIR. II. A. Blood.
We, therefore, take this occasion TO T, O. |
ommend that proxies DO sent TO Mr..
Blood rather than 10 Mr.. Parlin, bellev |
Ing that they will then be used for the
best Interests OF all concerned.
W. j, ROTcH,
W. .. CHAPMAN,
Trustees.
LIBERTY BIGELow,
WILLIAM RoTcH,
GEoRGE A, CLARK,
subcommittee on Reorganization.