Savannah morning news. [volume] (Savannah) 1868-1887, 1886-12-30

by conceament OF the stockholders
names and addresses. 1t beats Erie, a
thing to be forever ashamed of.
| The Circular: But what shall be said
OF the circular?
Ii virtually asks this
"lf satisfied with the management of
last year, before knowing what it is, give
me proxy; renew my term before APP
/ proving it.v :
That is rather bad, but what remains Is
| worse. lqJ ConE
The circular states that no opposition
is kno,on. Perhaps true in the mere
letter; but was none suspected? Was
not the belief tbdt there tcds opposition the
exact reason for issuing the circular:
Dld not the press OF the State furnish
strong hints of probable opposition?
That was uncandid enough. But things
grow worse. Has the circular been re-
tracted? Have the stockholders who
gave proxies on false information been
informed of the truth, that they might
decide in the light of all the facts?
Not only no such retraction by the
board, but the opportunity of correction
by the opposition has been denied.
Ii the first step was a mere mistake
what is the last except O sheer falseho0d.
RATIFICATION OF mlsstatement after
knowledge; what is that: Is it mere
economy of truth? Is it not saggeStlo
fdtSt
If so shy of so innocent a thing as the
list Of stockholders what would the board
do II it were proposed to let in full flood
OF light on the entire management Why,
why, concealp
The more you think Of it the worse IL
looks. Second thou gifts are stronger than
first thoughts, yet first thoughts OF all fair
men condemn it severely. Light is dread
full only to mismapagsment, secrecy
necessary only to abuse of power.
The board has certainly advantage
enough, they have the inside track, full,
complete and detailed knowledge unless
the directors conceal from one another,
as we'll as from the stockholders.
Is 1t necessary to keep each stock holder
in separate eager Who keeps the KEY?
The President alone or the entire board?
is 1t for fear OF an Insurrection? 1t
seems that IL a majority of stockholders
should ask for it they could get list.
But how are they to know one another 80
as to ask :Or its
What exact degree OF concealment is
necessary for the board? Is this secrecy
needed for the interest of the stockholders,
or is it naked desire to keep in at all
hazards! But the whole thing is too
shameless. The self respect of the board
should make it quick to retract such ac-
ton and proper regard for the opinions
of mankind.
Policy of stockholders: We have hardly
time to write OF this. 1t is their policy to
have an open management to rebuke and
not to reward official despotism and the
Insolence OF power. A proxy is just like
wlll-revocable whenever you please.
You have powerful interest to revoke.
You should Indignantly revoke if made
under Misrepresentation converted into
falseho0d by the failure to correct.
An administration which defeats q fair
election is unworthy of your confidence.
No other evidence is needed Of that. You
have no interest In a secret adminIstra-
ton. II it plays tricks for you before
long it will play tricks on you.
Advantages OF a change:
You will know your business without
concealment.
Your property will be increased skill
fully, carefully and advantageously. The
convertible value OF your stock will be
increased; the dividends be increased. III
you wish to keep stock. you will not be
frozen out. If the small stockholders dis
appear, it Will be because they are melted
oat by htqh premium, not frozen out by
LoW diotdefdS.
You will even know who your fellow
stockholders are dangerous kuowIedge),
and preserve the right of seli-protection.
SQUARE DEAL.