St. Paul daily globe., 1893-10-19
CAKES Will step OUT.
Great Victory for the Ives
Belmont Syndicate.
WLLARD'S REIGN rs ENDED.
Deutseh Banks Of Berlin and
the Rothschilds
ARE IN COMPLETE CONTROL.
The New Directors Will Re
Elected Today.
ARE IN COMPLETE CONTROL.
MIR. IVES NAY BE PRESIDENT.

MH. IEES HAT De FhE0fDEHI.
New YORK, Oct. 1S.-It will not be
necessary for a master of elections to
preside over the annual election in this
city tomorrow of the stockholders of the
Northern Pacific Railroad com pany, for
there will be only one ticket in the
field. The Ives-Belmont syndicate has
control, or rather after tomorrow will
have control, of the Northern Pacific, as
a result of one of the most brilliant
cOups by Mr.. Brayton Ives that has
ever been recorded in the history of
railroads. Incidentally, 1t is a stock
holders victory.
When Mr.. Ives showed his hand to-
day, those in control of the great cor
pOratiOn realized that they were de-
feated, and they capitulated at his own
terms. Not only, however, has MIR. Ives
succeeded in obtaining control of the
company; he has harmonlZed the great
financial interests which are the chief
creditors of the Northern Pacific and
will have their support in pushing the
interests Of the company. The DeutSch
banks of Berlin, whose clients hold
between $50, 600, 900 of the roads bonds
will be represented In the new direc-
tory. So will the American agents of
the great banking house of ROthSchlld,
and it is understood that the road will
hereafter have the support and infu-
ence Of the RothSchildS.
Mr.. Ives very modestly declined to
say anything about the presidency of
the road. saying that that is a matter
for the directors, hut all indications
point to him as the new chief executive.
1t had been expected that tomorrOw's
annual meeting would be the liQeliest
ever held. Two factions were striv-
ing for control of the road. One
represented by the present board of
directors, and the other by Brayton
Ives, August Belmont, Donald Mackey,
j. Horace Harding and William Win
throp Smith. 1t Will be remembered
that
MIR, IVES DENOUNCED
Henry Wizards administration of
the Northern Pacific affairs, and openly
accused him of defrauding the stock
holders of the road of millions,
which, Mr.. Ives charged, went
into the pockets of Mr.. Viii
lard and a few other directors. A
suit is now pending to recover SS,U00.000
to S1O,OOO.OOO, and Col. S. W. Petit,
counsel for S Stakeholder SwOpe, who is
suing, says that the men who will have
to pay this money are Henry Willard.
Edwin II. Abbott, Charles l.. Colby and
Colgate HOyt.
For this and many other reasons every
nerve was strained by both factions
to secure control of proxies suffi-
cient TO win tomorrow. A committee
of stockholders, acting on the interest
of the Ives faction, several days
ago secured an order requiring the di-
rectors of the road to show cause why
master of elections should not be
appointed to preside over the annual
election of directors tomorrow. When
the case came up today before Judge
Lacombe. of the United States circuit
court, Lawyer Alfred Jaretoki, for the
directors. said that no fraud was
contemplated, that the directors de-
Sired a fair election, and that they
were willing to concede anything 10
the Ives faction to secure fair election.
He said that the directors had not yet
reached New York, and asked for an
adjournment until o'clock this after
noon. BY that time they would have
met and doubtless have
CONCEDED ALL
that the Ives faction asked for.
An adjournment was granted, but
before the hour named Judge Lacombe
was notified that there was no longer
any occasion for further litigation con-
cerning a master of elections, as there
would be only one ticket voted on.
Mr.. Ives was a very busy
man today, and denied himself
to reporters until 4 o'clock. When he
did see them he gave out the informa-
tion that his faction had gained control
| Of the road before the battle, and that
the present management, realizing that
they would be hopelessly beaten, sur
rendered without a fight and will not
put ticket in the field.
His faction, Mr.. Ives said, had re-
ceived proxies for nearly 100000 shares
of stock. The total number of shares
cast at the last election was only 100000
shares, and the highest number ever
cast-in 1SS7-754,00O shares. Conse-
Quently they had majority of 10000
shares over and above the majority of
the largest vote ever cast. 1t was evil
dent to those in control that the Ives
faction would certainly win tomorrow,
and consequently when it was Sug-
gested that the directors ticked should
be abandoned, as factional strife
may hurt the company's interests,
those in control consented and this
ticket was agreed upon: Isaac w. An
derson, August Belmont. Charles L.
Barney, William l.. Bull, j. Horace
Harding, Marcellus Hartley, Brayton
Ives, Johnston Livingston, Donald
Mackay, August Rutton. Wilbur F.
Sanders, Horace Barns and Winthrop
Smith.
Only two of these gentlemen-Messrs.
Barney and Bull-are members of
THE PRESENT BOARD.
They were put on in order to secure
the cordial cooperation of the Deutscher
bank, of Berlin. DR.. Siemens, who has
been here as the representative of the
bank, was invited by Mr.. Ives commits
tee to become member OF the board. He
was unable to do this because he will
shortly return to Germany. Instead
he nominated in his place August Rut-
ten. DIR. Slemens was not willing to take
part in the election If there were
twO fantinuc ctriUipO ooptrol