New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-05-22


election Of the said Oregon Railway and Navisano,
Company, and deny that II is my purpose 10 gu ~
the said shares for any purpose.
admit that during the past year have propo.ss
to the defendant company 70 sell It's shares Of stos
In the Oregon Railway and Navigation Company A..
deny that on former occasion. any oceasioa
was ever restrained from making or negotiating An,
such sale by any thrests Of legal proceedings made T.
me by one Of the directors OF tao defendant coussx
mentioned in the amended complaint, or by any oss
connected with tho defendant company or by any eus
else to the effect that he they would begin sesl
proceedings 10 en!on such sale and deny that srv
such threats have ever been made.
TRUE IN ONE RESPECT. AZ
As 10 the statement alleged In the amended CON
paint TO have been made. by me TO Mr. Gaydusr " z
Lane It is true in this respect that have eIpressa
the said Lane as well to the Executive Commtt,, 81
my confidence In my ability to sell the stock Of Is.
Oregon Railway and Navigation Company, held By Ia 8
defendant company, and my conviction that ssas
or other disposition OF the said stock, whereby tAs
defendant company should presently realize the cash
value Of the said stock and be enabled to pay M
floating Indebtedness and acquire adequate woridas
capta was desirable, and 10 is also true that In ts
view have had the unanimous approval OF sh mca-
bers of the Executive Committee, including the sad
Lane but the nterences which the plaintiffs intend
have drawn from their version Of his alleged conys
sation with me are unquallhedly untrue. ~
The fact, as stated in the amended complaint hats
resolution has been passed by the Board OF Directors
OF the Oregon and Transcontinenta Company sittay
IT Portland TO discharge and rec INST tute the Exeu
Committee of that company, so as 10 elmIIae there
from Sidney Dillon and Gardiner NJ. Lane, two Of TIE
directors OF that company, is true and anney hsrs
a copy Of the resolution referred TO. And state hu
nv reason and purpose In requesting the SAID BoaN
OF Directors at Portland % remove the persons nse
from their positions members Of the Executive Goa
mlttee Of the defendant company, were tHe'e: BOB
said Dillon and Lane have been and are members OF he
| Board OF Directors Of the Union Parlfc Railway Coo
pany, and the said Lane is now the vIcepresident q
| that company. N5
since the 27th day Of July last, litigation has lea
pendlng In this court, In which tho Oregon and Trazs
continental Company has successfully sought TO y
| strain Elijah Smith and majority OF the Board d
Directors OF the oregon Railway and Navigation Con.
pany including the said Dillon upon charges OF and
against fraudulent misuse Of the funds OF The con-
uany at the nstigaton OF the president Of TIE unna
Pacific and Oregon Short Line Railway Companies asd :
| his directors. During all this time the said Lane aA
| Dillon, with, in my judgment manifest improvnsiT,
| have held their seats In the Executive Committee a
| the Oregon and TraIrcontinental Company, and han
| given active aid to IL defendants IN that &ba
| When in addition TO this, discovered shortly Szt
70 the passage of the said resolution removing ksa,
that both OF said persons had allied themselves Sa
Elijah Smith, Charles Francis Adams and his assoe!stz
In the Union Pacific and short Line Companies, JanAs
| IIul president OF the Manitoba Railroad Company,
| and other PERSONS whose interests se hostile to tie
| interests OF tho Oregon and Transconnental and
| Oregon Railway and Navigation Companies. and who
| are now attempting by buying or borrowing sock,
or buying proxies TO control the approaching an.
uuaI election both OF the Oregon Railway and
! Navigation Company and the orcon and Trans
continental Company, with the intent as
believe. for the hereinafter SCI
! all Iaya anAi -'r,l IN
Oregon Railway and Navigation Company TO chanss
materially the existing Lease Of tie properties Of
| that company TO the sort Line Railway Company,
! under which the Short Line Company aad lnon
| Pacific Company now obliged 10 gS reatA
| equivalent to dividend OF per cent PER aahNn
! upon the capital sock Of the Oregon Railway ana
! Nayisa.Ion Company and 10 CUT down that rrn'A
| BY such an amount as XII. satisfy the san Ou!os
| Pacific and Short Line Companies. determined
! opce 10 remove said Lane and Dillon from heh
! posiruaSas members OF the Executive COMMITTEE OK
| The company, against whose welfare they were ane
! are. in my opinion, aching.
REPEATING \ CONVICTION.
rereat, my convi,iion IS that the pus
nose OF such combination between tbs
| persons named and the said short Line and Union
Pacific Companies Is that the last two companies may
acquire the control Of the oregon Railway ard Na'E
| CATION Company. and then representing both sides'
I
Iaa.e and change the same the injury OF no stncA'
| holders Of the Oregon Railway and Navigation Com
| pary and 10 the great injury OF the oregon a'H
! Trau,rortncntal Company, which no" owns h''Fe
than a majority Of the capital stock Of the Na''sah'l
Company The reasons for my CONVICTION are n"
| their plans and purposes are now appar'h'' lac!
are disclosed IN the kilograms which to'
! ,rairyrs bays used "a the toundliion {"
| tho i,iurcI,on Orders granted In us acton
and their purposes are. they fail 10 huy majority
n stock or proxies. ny proceeding IN the courts %
| Oregon 20 throw the Oregon ard Tran'ron'hTh,"
Company into the hands OF receiver Just oco'e INC
aprroarhng election. on some alleged ground Of VI
VALIDITY IN IT'S charter otherwise and then. as mo
secretary OF tho Oregon Railway and Navigauon CoH'
rarv says IN one Of the kilograms referred 90 a."
| GeXod 10 the complaint in ibis action and a"a''&
| ~ Mr.. Adams president OF the Union Pa'l" 40
! short Line Companies, dated the day OF May ha>''>
secured the right man receiver, 10 vote the P.oF
.r,jcs -, the Oregon and TranscontIneutal Company
A. the Oregon Railway ard Navigation Company
election or falling this, by cNparte legal pfocecdh'
n, dlsfrsnchsc the Oregon and Transconiinental Com
,nv a, m, election Of the Oregon Railway and Navi'
! raIlon Company and thus TO continue Elijah smith
! and the present Board IN power by minority vote
THIS is the plan ard scheme against which, as
! president OF the Oregon and Trarscont!nental Com
pany, l am using ms utmost efforts to protect that
company ard its stockholders, and my plans aud pur-
poses IN reference TO the TranSc9ntinCnla Company
arc As they disclosed In the circular annexed TO NY
first affidavit In this arton ard they are the plans and
the purposes Of my friends who tho !arS st owners
If tho capital stock % tho Oregon and llu,conneh
Company. II any other evidence 81 th' Plan ana
scheme Of the plaintiffs and their allies than IS con.
atncd IN the kilograms referred TO. IN the recoru' Oh
The dealings IN the stock Of the defendant company
during the past few days and tn current statements
! In financial circles. and In the mere condition WHICH
will result from tho Union PUiGc and short Line 49,
ton, passing into the control of the lessor company "
which they are now leSSecs, IS needed It Is i""n" III
letter Of Charles Francis .hdauS addressed I" '''
mittce Of the Oregon TranscontncntdI Compass, "
| which ! was a member the l.th OF Al, -
,rcr \ p,an for thu harmonious settlement of all mo
matters pending between the several companies IN 'HS
sui tdul.auN AEccu NPou'