St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-01-13
COLE CAPTURES 'EM.
His Faction and the hide
pendents Have Formed
an Alliance.
To-Day Directors Favorable
to Him Will Certainly Be
Elected.
Bitter Strife CharacteriZeS
the Health Boards First
Meeting,
Mayor Winston Becomes a
Single Tax League MEM
Der.

At meeting of the Independents,
stockholders in the National Building,
Loan and Protective union yesterday
morning in the room of the Single Tax
league in the West hotel the report of
the conference committee, changed as
recommended by the meeting on Satnr-
day evening last, was received and
adopted. The committee recommended
the election as directors of tie board the
following named gentlemen:
W. j. Evans, Winona, Mimi, three years.
w. A. Toles, Chicago, ILL.,. three years.
Emerson Cole Minneapolis, two years
IF. Calderwood. Minneapolis, two years.
Charles v b ofdeen, Warsaw, Wis, two
years.
G. p. Lowell, Minneapolis one year.
DIR. o. p. Mcdonald, keokuk, To-, one year.
The slate is the result of a second and
prolonged conference with the friends
of President Cole and the representa-
tives of the liberal Independents. The
management especially desired that four
members Of the board should be Mime
apOliS men, for reasons several times
repeated and published in the GLOBE.
The conference committee were equally
anxious and determined in order TO
placate the larger number of the indie
pendents to cOncede the management
but three members. After talking the
matter over the Cole faction finally
agreed to give way to the wishes Of the
committee as expressed in the report,
and the slate was made. and after some
useless wrangling was adopted.
Prior to the annual meeting yesterday
afternoon in the Guaranty Loan
building the independents held the sec
Il. fl1l
port Of the committee on resolutions.
The Union during the Kneale regime
issued a series Of stock known as Glass
"a" 1t was guaranteed to mature in
FIVE years. None of the series is now
issued, and the shares that are gout it
will he impossible 10 mature in five
years. The report of the committee on
resolutions requests the board to deter
mine the value OF the "A" stock,
and the basis on which an owner
of stock of that series can nave it CAN
celed after it is one year old. The re-
port also asks for the basis upon which
a shareholder who is also borrower
may have his stock Ill Class "A' can
celed, and his mortgage released, and
whether the owner of stock in Class
"a" will receive back any portion of
the withdrawal installments paid in by
him. 1t further recommends that the
holders of ZAP stock should receive a
loan on real estate and stock security
when he complies with the rules of the
union. The committee fixed the COM
pensation of the directors at SIS per
day, mileage and hotel expenses. The
rule on voting proxies was changed so
as to allow the resident of any state to
vote the proxies of any residents OF his
state. The methods of conducting the
loan department of the union were Sc
verely criticised in the report. The day
of the annual meeting was changed to
the fourth Wednesday in January. The
directors were instructed to appoint
John Il. Kelly, of Milwaukee; A. l..
Baker, of Sioux City. and-J. A. Malone,
of Juneau, Wis, an auditing committee
10 examine the books of the union, and
report in printed form to the share
holders within six weeks after
each annual meeting. "A motion
to substitute E. C. Ward. of
Chicago OH the auditing committee in
stead of Judge Kelley, of Milwaukee,
was lost. The pay of directors was
changed from $l5 to $40 per day, the
resolutions as reported then adopted.
President Cole called the annual.
meeting TO order, and Immediately
thereafter the committee Oh proxies re-
ported that owing to the large amount
of work in connection with the eXamin-
alton of credentials. it would be impos
sibe for it to report before to-day. The
meeting was then adjourned to meet
this afternoon at 2 o'clock.