The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1889-01-10
Shareholders Of the Rock lsIaad
Want an Investigation.
An Organized Movement to Demand
Better Management.
0 her Corporations Quietly Under
the Same Pressure.
The Government Enters SUIT Against
the Northern Pacific.
The Terms of the 20" Settlement
Considered by Arthur.

New YORK, Jan. 4.-The Times
says: The holders of American railway
securities arg showing their agitation
more and more daily. The pace was
set by the sensational move of the
English holders of st. Paul stock a
few months ago, when at public in
dignation meeting in London they
asked influential banking houses to
receive scattered stock in trust and to
make concerted demands for better
management. Many corporations
have felt similar pressure Eince
then. though for the most part, the
movements of tired and combining
share holders have been conducted too
quietly for much public attention.
The same state of things as
existed st. Paul's security holders
is impelliDg the holders of the
securities of other roads to organize
for an investigation OF existing con-
ditions and If possible TO exercise
direct influence upon the managerial
policy.
In this line,the firm of Cunning s.
Fowler of 81 Wall street, acting at the
instance of large owners of the stock
of the Chicago Rock Island & Pacific
railroad, made demand last week up
on the New York Register and Fiscal
Agency company for an opportunity to
examine the Rock Islands transfer
books and stockholders list.
To this demand James S. Cowing, as
Sistant treasurer of the Rock Island
company, replied simply that no list
of stockholders existed here, ''the
transfer books and stock ledger being
kept at Chicago" Upon receipt of
this notice Dunning s. Fowler at once
addressed letter to the Rock Island s
vice president, Mr., David DAVIS of this
city. 1t was an interesting letter.
Some of its paragraphs were not all
pleasantness. There were, indeed, in
timatioas in the letter that while MIR.
DAVIS is known of all men as an hon.
Orable man, some of his corporation
/ associates are not situated so happily
Yesterday Mr.. DAVIS answered Dun
ming 81 FoWler's letter by stating that
under the law of Illinois it was neces
sary that the Chicago, Rock Island s
Pacific should maintain an Office within
that state, at which should be kept fol
public inspection certain records
among them the stock transfer book
The application of Fowler & DunninG
to inspect this book in New York was
the first made in many years. If thu
firm desired to examine it, it would b.
necessary to make the application at TIT
general office. Mr.. DAVIS then said
almost in so many words, that his as
sociates were as good as he was, and h'
did not propose to have them abused
over his shoulders.
Cumming & Fowler will now apply t.
the Chicago office for the information
they failed to get here, and in cas-
they meet with obstacles they will ap
peal the courts for an order to the CON
pany's officers to provide the fact
sought. The clients represented com
pose the Wall street firm of Cuthbert
Crane & Seabury, large holders of Roc
Island stock in their own right and TO
others. AS soon as the official list o
stockholders is obtained efforts will b
begun to organize a movement on tn
same line adopted by the protesting
English holders of st. Paul's stock.