The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-10-19
BRAYTON IVES'S COUP
He Secures a Majority of North
ern Pacific Railway Stock,
And Will Elect a New Set of Directors
at the Meeting TO-Day-Financial
Interests HarmOniZed.

NEW YORK, Oct. 1S-It will not be nee
essary for master Of elections to preside
over the annual election in this city to-
morrow of the stockholders of the Northern
Pacific railroad, for there will be only one
ticket in the field. The Ives-Belmont syn
dictate has control, or, rather, after to-
morrow, will have control of the Northern
Pacific, as result of one of the most bril-
liant coups by Mr.. Brayton Ives that has
ever been recorded in the history of rail-
roads incidentally, it Is stockholders
victory. When Mr. Ives showed his hand,
to-day. those in control of that great cor
poration realized that they were defeated,
and they capitulated at his own terms.
Not only, however, has Mr. Ives succeeded
in obtaining control of the company; he has
harmoniZed the great financial interest
which are the chief creditors of the North
ern Pacific, and will have their support in
pushing the interests of the company The
Deutscher Bank, of Berlin, whose clients
hold between $780, 900 and s40OoO.OOO of
the roads bonds, will be represented in the
new directory. So will the American agents
of the great banking house Of Rothschild.
and it is understood that the road will
hereafter have the support and influence of
the Rothschilds. Mr.. Ives very modestly
dency Of the road, saying that that is a
matter for the directors, but all indications
point to him as the chief executive.
It had been expected that to-morrow's
annual meeting would be the lveliest ever
held. Two factions were striving for con-
troll of the road, one represented by the
present board of directors and the other
by Brayton Ives, August Belmont, DON
aid Mackey, J. Horace Harding and Viii
liam Winthrop Smith. 1t will be remem-
bered that Mr. Ives denounced Mr.. Henry
Wizards administration Of Northern Pa
cific affairs, and openly accused him of
defrauding the stockholders of the road
of millions, which, Mr.. Ives charged, went
into the pockets of Mr.. Willard and few
other directors. A suit is now pending to
recover S. 100000 to 100000. For this and
many other reasons every nerve was
strained by both factions TO secure control
of proxies sufficient to win tomorrow.
A number of stockholders, acting in the
interest of the Ives faction, several days
ago secured an order requiring the directors
of the road to show cause why master Of
elections should not be appointed to pre-
side over the annual election of directors
tomorrow. When the case came up before
Judge Lacombe, of the United States Cir
cult Court, lawyer Alfred Jaretski, for the
directors, said that no fraud was con-
templated, that the directors desired fair
election and that they were willing to con-
cede anything to the Ives faction to Sc
cure a fair election. He said that the di-
rectors had not yet reached New York,
and asked for an adjournment until 4
o'clock this afternoon. By that time they
would have met, and doubtless have con-
ceded all that the Ives faction asked for.
An adjournment was granted, but before
the hour named Judge Lacombe was noti-
| fled that there was no longer any occasion
| for further litigation concerning a master
of elections, as there would be only one
ticket voted
Mr.. Ives was a very busy man to-day,
and denied himself to reporters until 4
o'clock When he did see them he gave out
control of the road before the battle, and
| that the present management, realizing
| that they would be hopelesly beaten, sur
rendered without fight, and will not put a
| ticket in the field. His faction, Mr.. Ives
| said had received proxies for nearly 10000
shares of stock. The total number of
| shares cast at the last election was only
| go, 600 shares, and the highest number ever
! cast-in 1SS7-754, 900 shares. Consequently
/ they had a majority of 10000 shares over
and above the majority Of the largest vote
| ever cast.