Evening journal., 1894-07-10
D'PONT WANTSCONTROL
Will Try to Gust the w. c. R.
Management This Afternoon.
BE THINKS HE HAS ENOUGH VOTES

The Present Management Is Alive to
the Situation and ully Prepared to
Meet It-Neither President Lea Nor
Vice President sauIsbury Seem Very
Much Worried.
William DUPONT. the young million
aire owner Of the handsome steam yacht
Au Revoir, and Of the beautiful country
place, Bellevue, with its stud Of blooded
horses, has the biggest project Of his
life on hand this afternoon, and Is con-
fdent that he will successfully consum-
mate it.
He proposes TO overthrow the present
management Of the Wilmington City
Railway Company and to substitute one
Of his own creation and liking. The
outcome of the election this afternoon
will demonstrate whether or not he has
counted without his host.
The annual meeting Of stockholders
for the election Of directors will be held
this afternoon. The polls will open at
o'clock and close at B. 1t is probable
that nearly all the 3S. 500 shares will be
cast in person or by proxy, and 1t will be
nearly o'clock before the result Is known.
Preston Lea, Willard Salisbury, Jr.,
Edwin Bringhurst, Jr., William w.
pusey and Alexander j. Hart constitute
the present board Of directors, with Mr..
Lea as president and Mr. Salisbury as
vice president William s Heger Is
secretary and general manager, and
Charles q Blandy, treasurer. These are
the men whom Mr.. DUPONT seeks to
depose. In some instances he is actuated
by business motives, and In others by
personal feeling, deep-seated and OF
long standing.
what a Friend Of DUPONT Says.
An EVENING JOURNAL reporter called
twice at Mr. DuPonts office in the Equit-
able Building TO day but he was not In.
A friend Of his speaking Of the matter,
said
al know there is a contest for control
/ but Just how far.reaching It is / don't
know. Il Is between William DUPONT
and the Lea Salisbury combination
which now has control of the road.
| "DuPont Is a large stockholder. He
holds between 1000 and 5000 shares. l
understand that he only wants represen-
tation on the board, it having been de-
i MED him. Whether he wants anything
more / don't know. The present man.
agement Is fighting TO keep him out.
/ They fought him In the Equitable and
he beat them there, and now the fight
has been carried to the Wilmington City
Railway Company offices. know this,
that he is getting great many sympa-
thizArs. but whether he will get num-
Der sufficient 10 put him in the board,
don't know. He feels pretty well satisfied
that he will get what he wants and will
have between TO- 600 and 90 900 votes, or
enough to give him a majority
upon what does he bass his fight
against the Lea-Saulsbury combina'
toni"
simply that the gentlemen composing
Il are trying to keep him out Of the
Board OF Directors. he wants to have
some say over the management Of the
thousands Of dollars he has invested in
stock Not only this but he owns about
one ffth Of the entire bonded indebted
ness Of the road which means over
800. 900 In addition TO his stock hold
ings"
associates In this contest2'
IL know a good many who are going
to vote with 10, but 10 would not be
policy for me TO give their names. After
| The thing is over the names Of his
associates will probably be public prop
erty.
DO Not Care to Talk.
You see | am vice president Of the
road aud l do not care TO say anything
for publication" said Vice-President
Willard Salisbury Jr., when the reporter
! called upon him at his Office. He did
. not seem worried In the least and treated
tho matter rather lightly President
r. Lea when seen at his Office in the
:. Equitable Building, was equally reticeni
I and apparently as unconcerned.
Five Per Cent. in Dividends.
The par value Of the 3s, 500 shares Of
=, stock Is SO a share. It's present markei
. price is $lS Before the slump in stocki
> a year ago this particular stock was NJ
70 $25 a share.
4 Since President Lea took charge OF th'
q road there have been radical extensions
: OF its lines and great improvements II
a tie road-bed, electrical equipment an'
rolling stock. The dividends have beei
"a per cent. a year.