The herald., 1894-10-25


SANTA FE REORGANIZATION TODAY.
The two factions who respectively
represent the protective reorganization
committee and the general reorganiza-
tion committee of the Santa Fe railroad
arrived in Topeka yesterday. The for
mer is composed OF ex.Secretary OF the
Navy B. f. Tracy, Theodore Movers,
Newman Erb, William p. Smith, f. N.
Taylor and H. d. Kyle. and are at the
Hotel Throop. The latter, which is
headed by B. F. Cheney, jr., remained
in their private car.
Ex-Seoretary Tracy said he looked for
no excitement or friction at the meeting
Thursday.
He said: "We exchanged visits, and
our relations of course are pleasant.
There is no quarrel between us. as indi-
GATED in the newspapers. The other
committee travelled in a private car.
We came as regular passengers and paid
our fares"
Asked ii his committee expected to
win in the shareholders meeting, he
said:
"Of that we will talk later. will gay.
however, that we represent majority OF
individual stockholders."
"Yes, and majority OF the stock too,"
put in Mr.. Meyers, who was standing by.
I'VE are here to make fight" added
Mr.. Meyers, land it will be fight to
the finish. We are going to have repre-.
sentatlves on that board"
1T LOOKS UNCERTAIN.
TOPEKA, Kan, Oct. 24.--Ths fight for
the possession of the Atohison, Topeka
and Santa Fe railroad looks decidedly
uncertain today. No one, not even the
representatives. OF the two opposing
factions, can positively tell which side
will win at the meeting tomorrow. This
is not fight for immediate control, but
for the ultimate possession OF the prop
erty. So long as the system is in charge
of the United States court it matters lit
tie who its directors are, but when the
property shall be reorganized, the party
which will win tomorrow will reap the
reward.
A man not familiar with Kansas peo>
pie and tine Santa Fe railway can hardly
imagine how closely they are identified
and how essential they are to each 9TH
er's existence. The remarkable interest
that ia being shown in this contest is
not aroused by the fact that it is one of
the greatest fights for possession in the
history of American railways. but be-
cause many thousands Of people along
the 5000 odd miles of railway are depend
ent upon it for employment. The Santa
Fe since 1856 has been allied with the
history of Kansas, politically and other
wise. Topeka lives off the Santa Fe
general Offices and shops. The offices.
which are in magnificent building near
Capitol square, have long been the pride
OF Topeka, and Topeka people fear il
there is change OF management the
offices may be hauled off to Chicago.
From a railroad standpoint this fight
possesses remarkable interest, because
there has never been just such fight
before for such stake. The Ives case
somewhat, and the contest for the pos
session OF the Reading resembles it in
many respects, but they do not interest
such large number of people and are
not 90 close. Many people in London,
Amsterdam, New York aud Philadel.
phia, in Boston and all of New England
are interested in this fight today. They
gave proxies for the shares OF stock
they hold, to representatives, with the
privileges of recall any time before
10 o'clock tonight, and if some big stock
holder should be won over from one side
to the other today it might change the
whole course of events at the meeting
tomorrow. The famous Dutch proxy of
about 80 600 shares of stock which has
been talked 30 much about has finally
been secured by the general commit
tee" in favor OF the perpetuation OF the
present management. This proxy is
even now claimed by both sides, but
member OF the present board today
showed reporter @ oablegram from
Amsterdam, unconditionally surrender
ing this proxy to the general commit
tee." The Cheney holdings OF Boston,
comprising even more shares than that,
are unquestionsbly in possession OF the
present board.
The protective committee" repre-.
sented here by Theodore Meyers, Gen.
B. F. Tracy, ex-seoretary of the navy
Newman Erb, William P. Smith, Il. N.
Taylor and H. d. Kyle, all of New York,
are in the state law library digging UP
legal support for q plan of cumulative
voting, which they will undoubtedly
spring tomorrow. This may cause O
legal fight that will postpone the result
for several days or weeks. Itis said the
protective committee has about 300, 600
shares of stock. This multiplied by 13,
the number of directors to be elected,
would give them q voting strength OF
5000, 900, or enough to elect two direct
ors and nearly enough to elect three.
Should compromise be proposed, the
protective committee would. of course,
demand three directors. General Tracy
would be acceptable to the majority as
one of the minority directors. Theodore
Meyers wants to oe on the board, and as
he Ia fighter he will make a tremen-
dous effort, but the majority people say
he made such fight on the old manage.
ment that his presence on the board
would be cause of trouble. Newman
Erb also wants to be q director, but he,
too, is Objectionable to the majority.
The men who hold the majority proxies
are not talking compromise. So far as
they permit the public to know, they
are preparing to elect the slate prepared
in New York. The only speculation is
about the names OF the men who will
succeed Alden Speare, of Boston, re-
signed. and l.. Severy Of Kansas, who is
to be dropped.
A STORM BREWING.
KANSAS Cry, Mo-, Oct. 24.-The
Times. under the caption, "There ia q
storm brewing" prints the following
from it's Topeka, Kan, correspondent:
The controversy between the two COM
mittees which are trying to reorganize
the Atchison, Topeka aud Santa Fe
railroad, may be carried into the Kansas
supreme court. The present board of
directors, working in harmony with the
general reorganization committee, con-