New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1892-03-02
R4TIFYING TIE CONTRACT NTH ARMOUR
UNION STOCK YARDS TO ISSUE 100000 IN

UyIoy STOCK YARDS TO ISSUE 100000 IN
BONDS TO TIE PACKERS.
mcc,Inc Of the stockholders OF the Chicago Junction
Railways and Union stock Yards Company was hcld
Yesterday in the law Office Of General william f.
Albeit no / Montgomcryst.. Jersey city. General
Albeit Is counsel TO the company in New-Jerscy inc
meeting was called to ask the stockholders 10 aty inc
change in the company's business by adding % u'e
objects Of the company, specified In It's certificate
Of organization, the following objects ITO establish
maintain and operate at the stoclyarcS OF the
Union stock Yard and Transit Company, at the city OF
Chicago warehouses. docks and other improvements 10
aid said Union stock Yard and Transit Company In I'M
proving dcyelOpng protecting and preserving It's prop
crty and business and 10 acquire land, suitable LOT
either of said PURPOSES at or In proximity to the city
Of Chicago or elsewhere
In addition TO this the company was to be asked 10
confirm the contract made By the directors with PHILIP
ID Armour Nelson Morris Gustavus +. swift and
others under and BIZ virtue Of which the company
agreed 10 issue 81 OOOOoO OF fifteen year percent
non -cumulatlvc Income bonds The notice OF phls
special meeting was sent ont January 30 OF the
present year, and with it forwarded a circular
which said
Yonr directors were informed that McSSr'. Philip ID.
Armour ,ustavns +. swift and Nelson Morris, oil Chl.
cago and their associates. had purchased tract OF
about 1000 81 land AT IOeston IN tne Satc VI
Indiana within ten mile, Of the city Of Chicago, on
which property they Intended to establish their pack
c~tsbli> hmcnt> and also STOCK Ndf1N LOT INC
CENT of cattle and remove their several businesses
fr,m the Chicago yards, The cattle ana HVc-stock
purchased by Mc~>rs. Armour swift ana MOTIFS anu
their associate, at the yard, Of the chicago sioux
Yards Company are the source OF over 30 per cent or
the business and income Of the Chicago yaI's ana lh
removal OF these packers would have resulted IN cor
responding loss and injury TO the chicago company
business and income. ,
Your directors have therefore. made an agreement
with Mc.srs Armour swift and Morris and their a>so
ciatcs dated January Il. l-O2, whereby the later'
among other things agree: 600,
To continue for fifteen wears from July ], 1871.
their several businesses and -laughcrng, mrhnR OF
canning plants and establishments at PcklngtOwn,
Chicago. -, ,.
10 guarantee that within six years from said date
the Chicago Company shall receive and collect from us
vartiagc and charges cattle and livestock owned
or purchased by or assigned to tlem the aggregate
sum Of at least S2OprOoo. ,,
10 convey 10 yonr company 00c acres Of the lana
NJ Tolcs ton, and Ia restrict the u.s. o the remaining
5000 acres.
The firms represented AT this meeting in favor OF
the change were +. -. Winston and Frederick ii.
Prince Of Chicago; f.. J. Phelps, OF NewJer'cy' John
A. Adams Of New York. and tho attorneys OF the com
pany seward. Guthrie Il Morawiu. Marcus Mayer
Of Chicago and William p. Whitehead were present as
proc. tors After con. dcrable discussion a vote on
taken. In favor - tho proposition 1886 shares oi
stock were voted. and against IT but 9,u5b shares;
which were controlled by Marcus Mayer. The ~'>'oni
proposition was accepted by Ike vote "ehcf,ii
Albeit told Tribune reporter that the affirmative NOc
wa, more than three fourths OF the entire stock.