Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1885-04-21

as y nsDs>sa - Css15SI TrSSu 49, 49,
ho14ers ~ - OvGeWnn1mfn4 vet&
The s(ookholdefs q The Central Trxnsportn-
ton company hold their meeting In Associa,
ton hall, Philadelphia, yesterday, and the
scheme Of the Late board to modify the lease
with Pullman, which has been explained
fully In the INrELLreENCER, was knocked
out' entirely.
The committee appointed at late special
meeting reported adversely to II, and showed
that the stockholders would only get skim
milk and Pullman the cream of the proposed
new arrangement The committee predicted
that II the modification plan were adopted,
at the end Of Ave years, at which time the
agreement would lapse, another crisis similar
to the present would fall upon the company.
The report Of the committee was accepted,
and Mr.. William 8. Lane moved to proceed
TO stock vote with the proposition TO
modify the lease. There was considerable
confusion for time, but the motion of the
gentleman was seconded by the chair, and
Mr.. Lane took the floor, as member of the
present board of directors, TO advocate the
proposition. lie maintained that under
the new lease between the Pennsylvania
railrnd and Pullman, the latter could
had better accept his new proposition or
might do worse. His remarks in conclusion
had reference to the possibility OF the Penn
syivania railroad canceling It's agreements
Win tne Pullman company for the use Of
cars on the lines In which Il has an owner
ship to the extent of a three-fourths interest
T" The Pullman company itself has this option
II its gross earnings are not equal to It's actual
expenses" said Mr.. Lane. "What would
De the result to this company then p
s'rhis offer of three per cent on our stock
| ~ winch the Pullman company gets li9 cars
Tor nothing" shouted Mr.. James Speer, ais
un%W1flgsted MWhggs ed robbery" Applause. ;,
o WI. .at s are we 70 do with these ITO cars II
"Hun them and make money out of them,'
| shouted several stockholders, ssor paint them
up for photograph galleries." remarked Mr..
J. ID: Wilson, at which there were roars OF
laughter.
"We have no way TO dispose of the cars, ),
said Mr.. Lane. ''rhe Pullman is a success
fui, prosperous company, with a surplus o
over seven and a-halfmillions, and pays eigh,
on the par Of our stock. The right and safs
thing Is to approve the modification of the
lease. Pay no heed to the declarations of ex
cited men lCries OF "Out of order! No per
sonalities " and general confusion) wht
have not fully investigated and cannot ap
preciate the situation. Do not allow your
| selves to be carried away by any ignus ia
tmus to your discomfort and to the destruc
ton ofyour interest"
The conclusion of the speech of Mr. Ian
! was drowned in groans and misses, on
gentleman calling upon the speaker 10 Civ
the definition ofthe Latin term he used at tn
| close.
General Louis Wagner, w. L. Lockwoo
and Counselor John q. johnson spoke on tn
J other side with vigor, and George w. Biddlt
Jr., counsel for the present officers and dire,
tors replied In their behalf The motion
proceed to stock vote was finally put int
/ effect. Tellers were appointed, and tt
shares were voted rapidly, large number
| proxies being cast When the result wa
announced later 28,0T shares were voted b
the opponents of the modification plan, an
2,O55 were cast by those In favor Of It. tn
proposition to modify the lease was, therefor
Overwhelmingly defeated.
The election of officers then followed. I'll
OLD board of directors was placed i'm renomi
alton as follows: John G. Bingham, Phi
adelphia; w. o. ii. Scully, Pittsburg: v
0 / III. WoOlverton, New York John A. Wripb
y philadelphia; Josiah Kisterbock, Pbiladt
!. phia; George X. Reed, Lancaster w.
Lane, philadelphia; Samuel McClary, I,
Q Wilmington Secretary and Treasurer
/ +. Cottringer.
The ticket supported by the stockholde
opposed to the modification Of the lease whis
= | was elected was as follows: John s. s. Evan
X l William II. Lucas, Matthew Brooks, Geor,
X: Reed, Thomas Walter, Evan Norris w
J, Wilson. Secretary and Treasirer-Benfam
d p. Obdyke.
, When the final result was announced
n t0tal OF "a, 020 shares had been voted of whi,
!. tne stockholders ticket headed by M
u Evans, received 22,52s, and the director
It ticket l,492