Fort Worth weekly gazette. [volume] (Fort Worth, Tex.) 1882-1891, 1888-05-11
4 SURPRISE PARTY.
Gould & Co. Halted in Their Endeavors
TO Obtain Absolute Control of
the International.
The Stockholders Of toe M, K..& +. Pro
spsse to Gust Gsu,d Fran Control
Of That Read.
he and His Associates Egg oined Prom
Monkeyipg 9th tho Stock or seour-
iIies Of Either Railway.
DIsAGREKABLE SURPRISE.

| DlSAGkEEABLE RfHlSE.
NKw YORK, May 5.-rne Times pub
fishes the following: Jay Gould, Russell
Sage, and other officers OF the Missouri
Pacific Railway Company ard the III s.
| souri,, Kansas snd Texas Rsilway-esct
| board of directors is composed substan
TALLY Of the came people, and each is
controlled by Mr.. Gould-hsd disa.
greeable surprise party yesterday after.
noon when they were served with an
| order to show cause why they should no,
| be made to halt in the endeavor to gel
absolute control In the International and
! Great Northern Railroad aud sever il
from its owner, the Missouri, Kansas and
Texas. The order wss procured from
Judge Bsrrett yesterday in the Supreme
court chambers by Simon Sterne, who,
with E!ery Anderson, is counsel for
William LaRdon Bull and William Martin.
sen, who represent majority Of the
stockholders of the Missouri, Kansas and
Texas. Mr.. Martinsen represents the
stockholders in Amsterdam, Hol-
land, who own about 10000
shares, and Mr.. Bull represents
the owners of about 10000 shares in
New York. There are in Sill about 46k 900
shares, SO they control clear majority.
After the annual election Of the company
on May 16 they propose to Dust the Gould
board, and put the Missouri, Kansas and
Texas in their own hands. With the or
der to show cause Judge Barrett granted
q temporary injunction restraining Mr.
Gould and his associates from in any way
ttMoNKEYING" WITH THE STOCK
or securities of the Missouri, Kansas and
Texas or of the International and Great
Northern, OF in any way changing the
status of either company until after the
annual election. And they are ordered to
show cause in addition why the acts 10
relation thereto that they have recently
done should not be declared void for lille
gality.
Mr.. Gould and bis associates want to
get control OF the International and Great
Northern. They began on April 2, without
giving the msjority OF the stockholders Of
the Missouri, Kansas and Texas any
notice of their Intentions. The Gould
members OF the board of directors of the
Missouri Pacific met and passed reso-
luton reciting that the Missouri Pacific
had advanced shout $500, 900 on account
of the International and Great Northern
and asked for security. Accordingly the
directors of the Missouri. Kansas and
Texas voted it. It must not be forgotten
that the board of directors OF the Mis-
souri,, Kansas aud Texas and the Mis-.
souri, Pacific are practically the same.
and made two notes, one for $2S9. 600
the amount Of
TEE ALLEGED ADVANCES.
They are delivered to the Missouri P4c fc
r:s hat &c
cred to themselves 81 $50, 900 Of per
Great Northern. The Miss uri Pacific
board of directors also passed another
resolution reciting that large number Of
suits had been brought in different states
for land and other claims sgsiDst the Mis-
souri,, & Kansas End Texas and the Interns-
tiopal and Great Northern, and asked for
further security 10 indemnify them against
the possible results of these suits, some
two to three hundred in number. The
Missouri, Kansas and Texas board of d.
rectors therefore directed their treasurer
to deliver to the Missouri Pacific as in
demnity $500 shares Of the international
and Great Northern, and 10000 Of the
Galveston, Houston and Henderson rail
rosd, which connects the Great Northern
with Galveston, and also 5000 shares Of
the Bonneville Bridge Having got al
this property Gould & Co. proceeded to
borrow money from the Mercantile Trust
Company. Jay Gould, Russell Sage and
Henry g. Marquand gave their notes for
the money and the stock, bonds and notes
were deposited in the Mercantile Trust
Company. The Mercantile Trust Com
psny, 1t is understood, does not claim to
hold this property IS
COLLATERAL FOR LOANS,
Gould's, Sage's aud MaTquand's sigma
lures to it being considered amply
sufficient.
II was not until last Tuesday or
Wednesday that Messrs Bull and Mar
tinson Of the committee of majority of
the stockholders of the Missouri, Kansas
aud Texas, learned OF these transactions
and that about all the shares and bonds of
the International and Great Northern had
passed into the control of Gould with
cut the payment Of cent OF money.
Tbev also learned of another step in
the scheme. The board of directors of
the Missouri, Kansas and Texas and
International and Great Northern-that
is to say, the Jay Gould bosrd-had met
aud hurriedly agreed to cancel the lease
Of the International and Crest Northern
to the Missouri, Kansas aud Texas. The
effect of this would be to put the road
completely st the mercy of Gould.
Having ascertsined the position of
sffsirs the members of the committee of a
majority OF the stockholders met Cd
Thursday and faced the question as it
presented itself to them.
THEIR PROPOSITION IS THIS:
Under the pretext of the above stated ad-
vsnces by the Missouri Pacifc to the
Missouri, Kansas and Texas all the stock
they owned Of the International and
Great Northern had been placed IN the
nsme Of jaw Gould and had come under
the control ct the Missouri Pacific
which he controls, and by the sbroga
ton OF the lease the last hold
which they had upon their property had
bsen taken sway from them. They de-
termined that whatever they did must be
done at once, and alter consolidating
counsel suit was brought in which Judge
Rarrett granted the Injunction yesterday.
They expect that the bondholders of the
Missouri, Kansas and Texas will act with
them ga their interests sre identical. Mr.
Gould hiss now encountered some OF the
most determined opponents Of his life.
Behind Mr.. Ball and Mr. Martinsen are
to be some of the heaviest
railroad aud flDancisl men In the country.
The effect of the INJUNCTION which
TV4 d. Al q, nknr-v 90