New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-05-19
SOME INTERESTING CORRESPONDENTS.

TELEGRAMs THAT PASSED BETWEEN HENRY
WILLARD AND HIS AGENTS AT PORTLAND.
Tho following are somo Of the kilograms that have
passed between Henry Willard and bis agents 10 for
land Ore relative to the reorganization OF the FIX
.crtivs Committee OF the Oregon and TrsnSconti'
mental COMPANY and the issuance of the preferred
stock: soo
NewYork. May Z. 1882
T II. Tyndalo, Portland, Oregon
Pass the following resolutions:
whereas The authorized capital stock OF TINS COZ
Ton 4. fixed by It's charter At the sum OF ESQ OooV" '
whereas Only $40 100000 Of common stock mas o's"
issued and It Is desirable to increase the eap''
Issuing tho remaining slo 900 900 OF stock ''' %"
poSos q the business Of this company TO make suh S
,lona Issue OF $40 600 900 preferred stock Win guar
sn,ecd dividend Of per cent per annun IL Is he''
RcoIyed That the capital stock Of this corporation ho
Oregon and Transconnensa Company. be increased OS ~
.uing Of slo 600 900 OF preferred stock, and mat wv
4end NJ q pNr cent per upon such STOCK "c
.scd By hls company; and for the puSose OF "'"
the purchasers Of such sock performance Of sue" h'
antie Il IL hereby further 49,
Resolved That deposit OF pfnEo OF h'''Ns =
h,,c. q, stock Of the Oregon Railway and Navigation
Company owned by TITS cotpany De maaf' upon
terms and conditions shalt b. approved oy me L|
uuye Committee this company aud tnA power ~ no
nv ont.rrd upon the president or arSs Vceprrshe H
aSs,,,.ut secretary and Executive Committee OF o com
many 70 issue the aid So,oooooo OF ssocA 10 pel'
.tork b execute In the name OF Hlh company
, J,d.ra ~ A mar cent thereon snd 20 SECURE
such suarante, by the deposit plede or mortgage o' ~
hares OF stock Of the Oregon RaiiwI and Navigation |0
oany owned BY his company In socA manner and iO
under such conditions ~ he hneSlH" So~'H"'' '"''
tcts rhine And Is 10 further -.
Iesolyed That presidcnt Of his company co. "a
bs hereby IS authorized 70 sell thu SAID pFs'e'Na SIS
At par and b pay TO The benkeS SnrpO,sHoH, |" r nh
n,ngh or By whom the be sold or placed Sucn
....onahls comuissons the Executive ComhAlto "
his company shall dcteruhoe II"
Tho reply to this was As hiows
Portland, Oregon. May 7, 1881
,,.- vr,,r, Mills Building New.York CITY
U.,,,,r Do,rd o, Directors meeting today. Edsh'
directors present. Carried out whole programme ~
,c,lv pre.cribsi. bylaws, section IL ameHu'" ~
directed Resolution conforming Executive CoiniH'Se
pa,~d A. sent except that we made IVe H'ri0e'' ~
.,c,I Of six nancy: Willard. Colby. HoyI Ban ana
STAFFORD Proxy resolution passed ~ sen" N'>o.uUU'
losing stock books passed as scnt DrayI"h AN'S'
ra.l,natlon accepted Of May l, with complimentary
resolutions Hoy. elected YIceprcsdent No new
,,,sc,or IN Iyrs's place Sale Of 5000 Oregon and
rran.con,ncnal by Presiden: NJ market prc" approve"
Meeting adjourned until Tomorrow, and VIII be Kept
,,,r Secrecy enoned and will probably b. observed
Irn simon and Belllnger arrived late after bylaws
had been amended and executive committee changed
1b,y A., ignorant these TWO points and they ask
no questions about previous 70 their nrrvn
Hcard OF Directors ratified to-day the seton Of e&ecu
uyo committee OF February 81, April 10 and April H.
7. II. TYNDALE.
Mr.. vlllari's mex. Instructions follows:
HewYOrk May 0. 1882
l.
submit following 70 George H. williams and no legal
objection pass resolution substituting II for Section ~ OF
byIaws mo stockhoder shall have the power or right to
~ the books OF the company "'hou' the co
rcnt Of stockholders OF record owning IS per cent OF the
stock" IL 'l''i'AN"
The next telegram from Mr.. Tyndalo was addressed
IN Director Paul Schultz and conveyed the In
formation that c. ". Hanson had been elected
director IN place OF Mr.. Brayton Ivcs.
on May 10 Mr.. Tyndalc sent tho following telegram
TO Mr. yllari Resolution amending Section -,
bylaws dkappOv"d by Williams also objected To BY
Simon and By Bcllugrr, but I viii put It through If
possible this afternoon
on the Same day this dispatch sent by Mr..
Tyndalr TO Nh Willard Meeting OF Board Of Directors
this morning passed resolution issuing slo.OoO,Ooo
preferred stock and AUTHORIZING you TO sill ssmo, in
Nact language sent by YOU secrecy enioned, but
very doubtful; better conSummato quickly. Is there
any hurry about mailing miuutesl'
ON May II Mr. Willard received by telegraph this
information from his agent at Portland " At stormy
meeting of Board of Directors this afternoon passed
resolution amending Section 81 Of bylaws directed.
Bclllngnr and Simon In open opposition TO you, and
decline TO observe secrecy Both o. record against
resolutions. Take your acton as quickly possible,
as legal stops against It are certain. Get those two
out of the Board of Directors II you cam
This telegram elected the following reply:
Ecw.York. May IL, 1882
| T, II. Tyndale, Portland. Oregon:
Sorry you forced bylaw resolution through contrary
NY direct Instructions not TO do 50 Williams objected
Oregon code, chapter scton L. makes Il clear that
is illegal and therefore section 80 Of bylaws
BE- restored Immediately appreciate your real but
make mistakes To make easy YOU you may
that you misunderstood mstru ,tiOnN The idea
Of getting legal opinion and then submitting change Of by
laws to stockholders meeting There intention VI
issuing preferred stock before election as We are
sure Of earring election any way For good reasons
rather wish the other side Intention regarding
| stock issue. H. WILLARD.
ON May - Mr.. Tyndale photographed his chief that
the by law resolution adopted the 10th instant had
| been rcsandod on the ground OF msundcISta land
| ing, and that section 81 had been restored.
| one OF the most important kilograms sent by Mr.
! Tyndalc 10 Mr. Willard Is dated May II, and Is a.
! follows.
Al meeting OF Board Of DirNctorS this morn
ing, eight directors present We passed preambleS ana
! resolution In exact language received with Edes
letter Ot 9th, comforting upon the president full ds
customary power and authority to do all things up 10
| The limits Of corporate powers. Joseph Simon ana
| nellingcr voted mos
Mr. GTLROY ABOLESHES TIE JAYIrORSHP