New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1894-11-06
THE PROTECTITES BEATEN
ATCHIsONS OLD BOARD REFLECTED.
DECISION BY THE COURT IN KANSAS IN
FAVOR OF THE DEFENDANTS, THE
MAJORITY OBSERVATION-DISCLOSURES
ING Up THE FIGHT.

MAJORITY STOCKHOLDERS
ING Up THE FIGHT
Topeka. Kan. Nov. 5.-Judge j. {. Foster OF 'he
United States District Court, this morning rendered
his decision in the Atchison, Topeka and Santa fe
stockholders Injunction in favor Of the de-
PENDANTS the aiority stockholders. thereby secur-
ing a victory over the stockholders Protective AS
ISOLATION. He held that although the railroad COM
pany had accepted legislation enacted by the Legs
ature Of the state Of Kansas comforting upon II
additional powers and rights, the powers 6ven II
by the charter granted by the Territorial Legislature
we're in no way curtaed or limited. He also held
tha me general statute copd nor ree ee IN direct
act, unless the PROVISIONS OF tns tMo W. ~
conflict. such repeal of abridgment were si'scn-
ton asked for to restrain the Defendants from
electing Board Of Directors. except by the cufnu-
atve system of voting was denied
The Protective Association was not willing to give
I'D lis fight for a voice in the control OF the COM
rany even after Judge Foster had decided That the
majority Of the stock WAS by law authorized 10
elect all of the Board of Directors and that the
minority could not force the adoption Of the cumu-
latve system OF voting The stockholders meeting
this afternoon was no sooner called TO order than
Henry Woman representing the Protectives. took
the floor ana offered the resolution when Ne"ihd"
Erb attempted t. introduce at the meeting OCTOBER
-. providing for adjournment until committee
Of stockholders could Investigate the physical coni-
ton of the property AMI the financial cohciiion o'
the company. and prepare a report for IN" beheh'
Of stockholders The resolution was referred To the
Board Of Directors. Mr.. Wolman then INTRODUCED
the following resolutions. which he said had been
prepared by Mr. Erb. and all Of them were referred
to the directors:
they are hereby requested to ascertain ana repprt
to the stockholders soon rs practicip!c Wha
amount Of the so-cacd second mortgage Don'" ol
the company were Withdraw from inc trustee Io'
specific improvements Including equipm,m aS XXX cb
the bonds issued and ceruned ana whe,ner
the bonds were actually used for SAID "pecmc puiI
how. and to whom they were diverted -
Resolved. That the Board of Directors BE- ana
they hereby reluesred TO ascertain ana rei,,r,
to the s;ocShoders as soon as p'ctcaDiei "h hr
pothecatcd within sixty days prior To the appoint
ment Of receivers. In the payment or Teinctioh o
the debts Of the COMPANY exclusNr OF mo- r ~
for operating expenses TO whom su.h Plshn,thar
S MFe Of b r S c Of h company were peTson
liable for any the debts or obligations Of the
"9 TSat "G hc odd a Of be and
they hereby requested TO ascertain ana repor, TO
the stockholders soon as praciicahlc whcther any
on OF "G hcy com 4s excii1v 81 salary
lSs, and II so. he amount ~ such payment the
purpose and object thereof. Anl whether sucn pay
services rendered. and II 50 tho nature OF such
services. ana by whom such payments we're author
Resolved. That tho Board Of Directors be ana
they are hereby requested to ascertain ana 'epo,s
the stockholders as soon as practlcth" "Hn' ,'S
of money were paid by way Of commission or "tnrr-
wise. In connection win me hnanoa, oprt@V's c ~
payments were made. the dates thereof ana thf
character Of services alleged t. have been renleiel'
II any. as a consideration thereof
The meeting then proceeded 10 the election Of III
rcctors and the chairman appointed the CREDENTIALS
Committee as ieilcrs. The Troiccfves thought they
should be ACCORDED representation In the collecting
and counting OF the vote 50 Mr.. Summcrneli was
added 70 the list ~ tellcrs When they submitted
the result Of the ballot Mr. Summcrnci made
minority report The majority stated that each OF
the following persons bad received G7.J'G votes ana
wore accordingly elected directors for 1919. FL
ward J. Rcrwnd New-York. James \. Blair. New
York: William J.. Bull. NeN-N OK; T. + cheney IT,
Boston: Thomas + Fowler. Ncw-York; g : Gl"ri'
Topeka: G *. Holiday Topeka. Safnuc G. Lawrence
Boston. John \ Mccall. New-York; George \
Nickcrson Boston. L. ]. B0nshrake. Topeka, T.
wilder TopekA. +. X. Stursis Ncw-York
In his minority report Nj Summarized sail that
e7C 356 votes had been cast that had not been To-
ported by the majority and that they were DIVIDED
equally between TneolDge Myers nni Henry ClewS
These votes represented the stock under the control
o, the Protectvcs which had been cast by the
cumulative method. Notwithstanding the decision of
Judge Foster rendered this morning. The majority
report adopted -, a.. -,
The meeting adjourned sine die after Mr. Wolrian
had attempted t. introduce resolution browning
ror an adjournment for f,fiy-lve days 20 receive
report from the directors on the res'luiions SUD,
,,l,t,d Il f. UNDERSTOOD that Mr. Bonehrake ana
Vr wilder Viii resign as directors At 10, rrst meet
Ing OF the board which r. - 10" h".d ~ \.~- PIX
next week and that Thomas osborne, OF i9prK'.
and W II. Duval. OF Ncw-i ofN. VIII DE elected III
their stead