The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1886-04-30

present who believed they could punct.
ure the arguments Of Gen. Baker. and |
asked an opportunity to ask him oues-
tons upon the details of this matter and
upon points not touched; but this priyi-
lege was refused, and the general said
that he would willingly answer anv i'm.
ouiries propounded To him i'm writing
Ills accusers had held the floor for the
past two years. He had now made n full |
explanation of the matter, and would |
answer any further inquiries if put i'm the |
proper form.
President Noe explained that this mat. |
ter was not political question, and that
the board was not n political organization
i'm any manner. But this was a matter
i'm which the people of MankatO and
those along the line were Interested.
John A. Willard obtained the floor i'm re.
ply to Gen. Baker, saying:
don't believe that majority of this
board, or any member of this board, has
any political interest In this matter.
Gen. Baker has treated upon 1t with an
eloquence that no man i'm the State can,
but he has not touched the vital points
of the case, that We think he should OK
plain. He comes here to explain, and [
think he should explain those points to-
day that it is possible for him to explain.
His explanation il not satisfactory. He
only makes general denials, and the Vi
tai points are not touched. lie has
proved that it was. not transferred To the
Manitoba road, which nobody claims.
The directors had no authority whatever
| to consolidate the two roads. The stock
| holders never knew of any vote to con-
solidate. The directors had no authority
whatever to make this consolidation.
Gen. Neutrality-suspicious. of the
stock was present and represented.
Mr.. Willard-When the consolidation
took place deny that the directors DOS
sessed majority of the stock. Not a
quarter or u fifth of the actual stock
holders were represented in that meet
ing. / had i've shares of stock, which
think is more than Gen. Baker or any
other director had. The directors don't
seem anxious to 90 into the details of
this matter, but only make general, or
evasive denials. If it is not a star cham
Der matter, why not open it up, show
the books and publish the contract? The
most have ever said of these directors
Is that they were either fools or knaves.
At one of their meetings at MankatO,
Baker and Officer spread before me the
scheme of transferring it To a construc-
ton company. l warned them not to
turn it over to them Internationally, but
to place the stock In escrow, the same as
the bonuses voted, conditional on the
building of the road. | have ALWAYS
thought it very strange thing to do af-
ter being warned-this transferring the
stock, franchises and all of the road
without any guarantee of its being built.
The fact is it was done i'm very unwise
if not u dishonest way. If Mr.. Hill
wanted to get control of this road no one
thinks he would do it directly, but do il
in y roundabout way through some New
Jersey construction company. The
wrong is simply this: Be the stock hold.
ers one or ten thousand, they had d
, right to be heard on these matters, and
should not have had their rights sold
out. They turned over the stock with.
out any guarantee that this road would
. be built. This cutting down the board
of directors looks all the way through as
if it was done because they had some
scheme In it, The people of this CITY
will not he satisfied until they find out
! where the stock for which they subscrib
ed, and which they never received, was
, disposed of and what became of. II
seems queer that the directors should
, pay out such large sums without ever
consulting the Stockholders. or lettin,
them know of their action. Think o.
spending S2OOO for legal advice, without
| any authority, from out of their owl
, pockets, ana without any authority from
the stock-hoiders. We have lost rail
road: we didn't put much money into
, u. we wanted the road, and believe
; that the directors have not treated u.
, fairly. 1t is all moonshine to suppos,
that this strong construction comma N,
could not build tins road with the lant
grants ana $ZO0,OOo bonus, when othe
roads (Slckney's for lnstance) received
nelther:
: Gen. Baker-Everythlngt that was done
was done by authority OF majority o
the stock. We had great difficulty il
getting quorum at our meetings, no
body at MankatO taking much interest il
the road. Mr.. Willard hardly ever ap
peared at the meeting OF the board of di
rectors, and regarded the reduction o
the number of the members of the boart
an absolute necessity. This construction
company was ONE of the strongest organ
lZations that ever existed. ana was On
dorsed ny the pest nnanclal men OF tn
country: we never acteu unless we nat
majority OF the STOCK 10 BACK us: You
must near poth sues OF the questlon De
iore you pronounce judgement. MI. WI
iard mas not gwen the matter proper at
!enIlon, aitheugn ne was one OF the orig
,flai poacd OF directors; 1 nave neve
nearu OF anytmhg on the part OF these
9iIectors that was not honest. fol
9i9ht come 10 our meetings., ana W.
dldn nave a quorum, ana hence the ne
cessity OF reducing the NUMBER OF thu
Doard OF directors. l may have made
mistakes, nut that Is all; L would do tho
same thing now under like clrcumstan
ces., as 1t Is, nobody, is loser. The